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FDIC Federal Register Citations

[May 14, 2001 (Volume 66, Number 93)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID: f:ua010452.wais]

[Page 26535-26544]
 
Federal Deposit Insurance Corporation


[[Page 26535]]

Part LII

_______________________________________________________________________


Semiannual Regulatory Agenda

[[Page 26536]]

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)                           
  
_______________________________________________________________________

FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Ch. III

Semiannual Agenda of Regulations

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Semiannual regulatory agenda.

_______________________________________________________________________

SUMMARY:  The Federal Deposit Insurance Corporation (FDIC) is hereby 
publishing items for the April 2001 Unified Agenda of Regulatory and 
Deregulatory Actions. The agenda contains information about FDIC's 
current and projected rulemakings, existing regulations under review, 
and completed rulemakings.

FOR FURTHER INFORMATION CONTACT:  Persons identified under regulations 
listed in the agenda. Unless otherwise noted, the address for all FDIC 
staff identified in the agenda is Federal Deposit Insurance 
Corporation, 550 17th Street NW., Washington, DC 20429.

SUPPLEMENTARY INFORMATION:  Twice each year, the FDIC publishes an 
agenda of regulations to inform the public of its regulatory actions 
and to enhance public participation in the rulemaking process. 
Publication of the agenda is in accordance with the Regulatory 
Flexibility Act (5 U.S.C. 601 et seq.). The FDIC amends its regulations 
under the general rulemaking authority prescribed in section 9 of the 
Federal Deposit Insurance Act (12 U.S.C. 1819) and under specific 
authority granted by the Act and other statutes.

     A number of the actions identified in this agenda have been 
developed to implement provision of the Gramm-Leach-Bliley Act, or 
to implement other recent statutory mandates. Many of the FDIC's 
regulatory actions are coordinated with other Federal regulators of 
financial institutions, primarily the Office of the Comptroller of 
the Currency (OCC), the Board of Governors of the Federal Reserve 
System (FRS), and the Office of Thrift Supervision (OTS). In some 
cases, the FDIC also coordinates with the National Credit Union 
Administration (NCUA).

     Interested persons may petition the FDIC for the issuance, 
amendment, or repeal of any regulation by submitting a written 
petition to the Executive Secretary, Federal Deposit Insurance 
Corporation, Washington, DC 20429. Petitioners should include 
complete and concise statements of their interest in the subject 
matter and reasons why the petitions should be granted.

Federal Deposit Insurance Corporation.

 Robert E. Feldman,

Executive Secretary.

             Sequence Number

Title
         Prerule Stage
   4251 12 CFR 327 0 Assessments - Assessment Base
         Proposed Rule Stage
   4252 12 CFR 307 Notification of Assumption of Deposits and Change... 
   4253 12 CFR 360 Receivership Rules
   4254 12 CFR 366 Contractor Conflict of Interest
   4255 12 CFR 334 Fair Credit Reporting Act Regulations
   4256 12 CFR 369 Prohibition Against Use of Interstate Branches Primarily For ....
   4257 12 CFR 313 Procedures for the Collection of Corporate Debt by ....
   4258 Brokers and Dealers
   4259 12 CFR 330 Deposit Insurance Coverage
   4260 12 CFR 325 Simplified Capital Framework for Noncomplex Financial.... 
        Final Rule Stage
   4261 12 CFR 325 Capital Maintenance - Recourse Arrangements...
   4262 12 CFR 325 Capital Maintenance-Collateralized Transactions
   4263 12 CFR 342 Qualification Requirements for the Recommendation or Sale...
   4264 12 CFR 325 Risk-Based Capital Standards: Claims on Securities Firms 
   4265 12 CFR 325 Capital; Leverage and Risk-Based Capital Guidelines; Capital ....
   4266 12 CFR 325 Risk-Based Capital Guidelines: Market Risk Measure; Securities.... 
   4267 12 CFR 325 Capital; Leverage and Risk-Based Capital Guidelines; Capital ....
       Long-Term Actions
   4268 12 CFR 308 Censure, Suspension, and Debarment of Independent Public Accountants
   4269 12 CFR 328 Advertisement of Membership
      Completed Actions  
   4270 12 CFR 308 Program Fraud Civil Remedies 
   4271 12 CFR 362 Activities of Insured State Banks and Insured Savings Associations
   4272 12 CFR 346 Disclosure and Reporting of CRA-Related Agreements
   4273 12 CFR 343 Consumer Protection in Sales of Insurance
   4274 12 CFR 308 Interagency Guidelines Establishing Standards for Safeguarding .... 
   4275 12 CFR 308 Rules of Practice and Procedure
   4276 12 CFR 337 Rescission of Deposit Broker  Notification, Recordkeeping and .....
   

 

_______________________________________________________________________
______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)              Prerule Stage
 
_______________________________________________________________________

4251. ASSESSMENTS -- ASSESSMENT BASE

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1441; 12 USC 1817 to 1819

CFR Citation: 12 CFR 327

Legal Deadline: None

Abstract: In 1994, the FDIC sought comment on a proposal to revise the
assessment base used by insured institutions to determine the premium
paid for deposit insurance. That initiative did not lead to a proposed
rule. Instead, the FDIC plans to revisit the issue with a new ANPRM on
alternative options for the deposit component of the assessment base
and on options regarding the float deduction and use of average daily
deposit balances.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           10/05/94                    59 FR 50710
ANPRM Comment Period End        02/02/95
Second ANPRM                    07/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Steve Wagoner, Senior Assessment Specialist, Division
of Finance, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 416-7152

RIN: 3064-AB46
_______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)        Proposed Rule Stage
 
_______________________________________________________________________

4252. NOTIFICATION OF ASSUMPTION OF DEPOSITS AND CHANGE OF INSURED
STATUS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1818; 12 USC 1819

CFR Citation: 12 CFR 307

Legal Deadline: None

Abstract: This rulemaking clarifies reporting and disclosure
requirements already applicable to insured depository institutions. Due
to comments received, a second NPRM on this subject will be issued
rather than finalizing the rule proposed in May 1997.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/14/97                    62 FR 26431
NPRM Comment Period End         07/14/97
Second NPRM                     08/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Rodney D. Ray, Counsel, Legal Division, Federal Deposit
Insurance Corporation, Washington, DC 20429
Phone: 202 898-3556

RIN: 3064-AB88
_______________________________________________________________________

4253. RECEIVERSHIP RULES

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1819 to 1821

CFR Citation: 12 CFR 360

Legal Deadline: None

[[Page 26538]]

Abstract: This rulemaking establishes uniform rules governing the
payment and priority of postinsolvency interest payments from all
receiverships administered by the FDIC and makes other technical and
clarifying changes to part 360.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Mitchell Glassman, Director, Division of Resolutions
and Receiverships, Federal Deposit Insurance Corporation, Washington,
DC 20429
Phone: 202 898-6525

RIN: 3064-AB92
_______________________________________________________________________

4254. CONTRACTOR CONFLICT OF INTEREST

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1819; 12 USC 1822(f)(3); 12 USC 1822(f)(4)

CFR Citation: 12 CFR 366

Legal Deadline: None

Abstract: This rulemaking clarifies that part 366 does not pertain to
FDIC contractors who intend to purchase assets from the FDIC. Conflicts
of interest regarding contractors who intend to purchase assets from
the FDIC will be covered by an FDIC circular regarding the sale of
assets to restricted contractors.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Richard M. Handy, Assistant Executive Secretary
(Ethics), Office of the Executive Secretary, Federal Deposit Insurance
Corporation, Washington, DC 20429
Phone: 202 898-7271

RIN: 3064-AC29
_______________________________________________________________________

4255. FAIR CREDIT REPORTING ACT REGULATIONS

Priority: Substantive, Nonsignificant

Legal Authority: 15 USC 1681s; 12 USC 1819(a)(Tenth)

CFR Citation: 12 CFR 334

Legal Deadline: None

Abstract: Section 506 of the Gramm-Leach-Bliley Act requires bank
regulators and FTC to publish FCRA regulations to implement the Fair
Credit Reporting Act. Due to comments received from a joint notice of
proposed rulemaking, dated October 20, 2000, it is anticipated that the
joint agencies will issue a new proposed rulemaking for public comment.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/20/00                    65 FR 63120
NPRM Comment Period End         12/04/00
Second NPRM                     09/00/01

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Deanna Caldwell, Senior Policy Analyst, Division of
Compliance and Consumer Affairs, Federal Deposit Insurance Corporation,
Washington, DC 20429
Phone: 202 942-3366

RIN: 3064-AC35
_______________________________________________________________________

4256. PROHIBITION AGAINST USE OF INTERSTATE BRANCHES PRIMARILY FOR
DEPOSIT PRODUCTION

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1819(Tenth); 12 USC 1835a

CFR Citation: 12 CFR 369

Legal Deadline: None

Abstract: The rulemaking implements section 106 of the Gramm-Leach-
Bliley Act, which amends the Riegle-Neal Interstate Banking and
Branching Efficiency Act of 1994 to provide that any branch of a bank
controlled by an out-of-state bank holding company is considered to be
an interstate branch for purposes of Riegle-Neal.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/09/01                    66 FR 18411
NPRM Comment Period End         06/08/01
Final Action                    10/00/01

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Marc J. Goldstrom, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-8807

RIN: 3064-AC36
_______________________________________________________________________

4257. PROCEDURES FOR THE COLLECTION OF CORPORATE DEBT BY ADMINISTRATIVE
OFFSET

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1819(a); 5 USC 5514; 31 USC 3711; 31 USC 3716

CFR Citation: 12 CFR 313

Legal Deadline: None

Abstract: This rulemaking establishes procedures for the collection of
debts owed the FDIC. The rulemaking also implements the Debt Collection
Improvement Act of 1996, which requires agencies to promulgate
regulations on this subject. The regulation sets forth the procedures
the FDIC would follow in collecting debts through salary offset,
administrative offset, and tax refund offset.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            11/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Manuel Palau, Counsel, Legal Division, Federal Deposit
Insurance Corporation, Washington, DC 20429
Phone: 202 898-8829

RIN: 3064-AC40
_______________________________________________________________________

4258. BROKERS AND DEALERS

Priority: Substantive, Nonsignificant

Legal Authority: 15 USC 78a

CFR Citation: Not Yet Determined

Legal Deadline: Final, Statutory, May 12, 2001.

Abstract: This rulemaking implements section 204 of the Gramm-Leach-
Bliley Act (GLBA), which requires the Federal banking agencies to
establish recordkeeping requirements for banks relying on any of the
broker-dealer

[[Page 26539]]

exemptions listed in sections 201 and 202 of GLBA.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Keith Ligon, Chief, Policy Unit, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-3618

RIN: 3064-AC42
_______________________________________________________________________

4259. DEPOSIT INSURANCE COVERAGE

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1813(l)

CFR Citation: 12 CFR 330

Legal Deadline: None

Abstract: This rulemaking establishes a uniform and streamlined appeals
process for deposit insurance claims.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            11/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Richard Osterman, Assistant General Counsel, Legal
Division, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 736-0617

RIN: 3064-AC43
_______________________________________________________________________

4260. SIMPLIFIED CAPITAL FRAMEWORK FOR NONCOMPLEX FINANCIAL INSTITUTIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a)

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This notice, sponsored jointly by the OCC, the FRS, the FDIC
and OTS, advises the public that the Agencies are considering
developing a regulatory capital framework tailored to the size,
structure, complexity, and risk profile of domestic, noncomplex
financial institutions. The Agencies are seeking comment on possible
regulatory capital frameworks that may ease burden on these financial
institutions, such as a simplified risk-based or a modified leverage
ratio framework.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           11/03/00                    65 FR 66193
ANPRM Comment Period End        02/01/01
NPRM                            08/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Keith Ligon, Chief, Policy Unit, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-3618

RIN: 3064-AC44
_______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)           Final Rule Stage
 
_______________________________________________________________________

4261. CAPITAL MAINTENANCE -- RECOURSE ARRANGEMENTS AND DIRECT CREDIT
SUBSTITUTES

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a); 12 USC 1816; 12 USC 1818(a); 12 USC
1819(Tenth); 12 USC 1828(d); 12 USC 1831o; 12 USC 3907; 12 USC 3909; 12
USC 1815(b); 12 USC 1818(b); 12 USC 1818(c); 12 USC 1818(t); 12 USC
1828(i); 12 USC 1828(n); 12 USC 1828(o); 12 USC 1835; 12 USC 4808; 12
USC 1828(c); PL 102-233; 105 Stat 1761; 105 Stat 1789; 105 Stat 1790;
105 Stat 2236

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, the
FDIC, and the OTS. The rulemaking revises risk-based capital standards
by addressing the regulatory capital treatment of recourse obligations
and direct credit substitutes that expose banks, bank holding
companies, and thrifts to credit risk. The revision treats recourse
obligations and direct credit substitutes more consistently than under
the agencies' current risk-based capital standards. In addition, the
revision allows the agencies to use credit ratings and certain
alternative approaches to match the risk-based capital requirement more
closely to a banking organization's relative risk of loss in asset
securitizations. The rulemaking also requires the sponsor of a
revolving credit securitization that involves an early amortization
feature to hold capital against the amount of assets under management,
i.e., the off balance sheet securitized receivables. The rulemaking is
intended to result in more consistent treatment of recourse obligations
and similar transactions among the agencies, more consistent risk-based
capital treatment for certain types of transactions involving similar
risk, and capital requirements that more closely reflect a banking
organization's relative exposure to credit risk.

Timetable:
________________________________________________________________________

Credit Ratings  ANPRM 05/25/94 (59 FR 27116)

Recourse/Direct Credit Substitutes  NPRM 05/25/94 (59 FR 27116)  Second
NPRM 03/08/00 (65 FR 12320)  Second NPRM Comment Period End 06/07/
00  Final Action 10/00/01

Synthesis of Credit Ratings/Recourse/Direct Credit Substitutes  NPRM
11/05/97 (62 FR 59944)  Final Action 12/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Robert F. Storch, Chief, Accounting Section, Division
of Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-8906

RIN: 3064-AB31
_______________________________________________________________________

4262. CAPITAL MAINTENANCE -- COLLATERALIZED TRANSACTIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815; PL 102-233; PL 102-242; 12 USC 1816; 12
USC 1818; 12 USC 1819; 12 USC 1828; 12

[[Page 26540]]

USC 1831; 12 USC 3907; 12 USC 3909; 12 USC 4808

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This rule was developed in consultation with the OCC, the
FRS, and the OTS (Agencies). It amends FDIC's risk-based capital
standards to make the standards uniform with the Agencies' treatments
for transactions supported by collateral. The effect of the proposal is
to allow banks to hold less capital for certain transactions
collateralized by cash or qualifying securities.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/16/96                    61 FR 42565
NPRM Comment Period End         10/15/96
Final Action                    09/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Stephen G. Pfeifer, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-8904

RIN: 3064-AB78
_______________________________________________________________________

4263. QUALIFICATION REQUIREMENTS FOR THE RECOMMENDATION OR SALE OF
CERTAIN SECURITIES

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1818; 12 USC 1831

CFR Citation: 12 CFR 342

Legal Deadline: Final, Statutory, May 12, 2001, recordkeeping
requirement.

Abstract: This proposal, sponsored jointly by the OCC, the FRS, and the
FDIC, would establish qualifications for banks that sell certain
securities to their customers without having to register as a broker
under the Securities Exchange Act. FDIC staff are contemplating a
recommendation to rescind this proposal and replace it with a second
NPRM to exempt banks from registering with the NASD/SEC as securities
brokers or dealers in the event that they qualify under any of the
exemption criteria in Gramm-Leach-Bliley Act sections 201 or 202 (see
NPRM described at 3064-AC42).

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/30/96                    61 FR 68824
NPRM Comment Period End         02/28/97
Final Action                    06/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Keith Ligon, Chief, Policy Unit, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-3618

RIN: 3064-AB85
_______________________________________________________________________

4264. RISK-BASED CAPITAL STANDARDS: CLAIMS ON SECURITIES FIRMS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a); 12 USC 1828(d); 12 USC 1828(i); 12 USC
1828(n); 12 USC 1828(o); 12 USC 1831o; 12 USC 1835; 12 USC 1815(b); 12
USC 1816; 12 USC 1818(a); 12 USC 1818(b); 12 USC 1818(c); 12 USC
1818(t); 12 USC 1819 (Tenth); 12 USC 1828(c)

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, the
FDIC and OTS (the Agencies), and amends their respective risk-based
capital standards for banks, bank holding companies, and savings
associations with regard to the risk-weighting of claims on, and claims
guaranteed by, qualifying securities firms. The rule reduces the risk
weight applied to claims on, and claims guaranteed by, qualifying
securities firms incorporated in countries that are members of the
Organization for Economic Cooperation and Development (OECD) from 100
percent to 20 percent under the Agencies' risk-based capital rules.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/06/00                    65 FR 76180
NPRM Comment Period End         01/22/01
Final Action                    10/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Stephen G. Pfeifer, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-8904

RIN: 3064-AC17
_______________________________________________________________________

4265. CAPITAL; LEVERAGE AND RISK-BASED CAPITAL GUIDELINES; CAPITAL
ADEQUACY GUIDELINES; CAPITAL MAINTENANCE: RESIDUAL INTERESTS IN ASSET
SECURITIZATIONS OR OTHER TRANSFERS OF FINANCIAL ASSETS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC
1818(a); 12 USC 1818(b); 12 USC 1818(c); 12 USC 1818(t); 12 USC
1819(Tenth); 12 USC 1828(c); 12 USC 1828(d); 12 USC 1828(i); 12 USC
1828(n); 12 USC 1828(o); 12 USC 1831o; 12 USC 1835; 12 USC 3907; 12 USC
3909; 12 USC 4808; PL 102-233; 105 Stat 1761; 105 Stat 1789

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This interagency rulemaking amends capital rules to provide
that the value of certain retained interests in securitizations not
supported by a readily available market quote would be deducted from
Tier 1 capital for regulatory capital purposes.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/27/00                    65 FR 57993
NPRM Comment Period End         12/26/00
Final Action                    06/00/01

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Keith Ligon, Chief, Policy Unit, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-3618

RIN: 3064-AC34
_______________________________________________________________________

4266. <bullet> RISK-BASED CAPITAL GUIDELINES: MARKET RISK MEASURE;
SECURITIES BORROWING TRANSACTIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC

[[Page 26541]]

1818(a); 12 USC 1818(b); 12 USC 1818(c); 12 USC 1818(t); 12 USC
1819(Tenth); 12 USC 1828(c); 12 USC 1828(d); 12 USC 1828(i); 12 USC
1828(n); 12 USC 1828(o); 12 USC 1831o; PL 102-233; 105 Stat 1761; 105
Stat 1789; 105 Stat 1790; PL 102-242; 105 Stat 2236; 105 Stat 2355; 105
Stat 2386

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This rulemaking sponsored jointly by the OCC, the FRS and the
FDIC, amends their market risk rules to revise the capital treatment
for cash collateral that is posted in connection with certain
securities borrowing transactions. The effect of the rule is to more
appropriately align the capital requirements for these transactions
with the risk involved and to provide a capital treatment for U.S.
banking organizations that is more in line with the capital treatment
applied to their domestic and foreign competitors.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule              12/05/00                    65 FR 75856
Interim Final Rule Effective    01/04/01
Interim Final Rule Comment
Period End                      01/19/01
Final Action                    06/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Stephen G. Pfeifer, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-8904

RIN: 3064-AC46
_______________________________________________________________________

4267. <bullet> CAPITAL; LEVERAGE AND RISK-BASED CAPITAL GUIDELINES;
CAPITAL ADEQUACY GUIDELINES; CAPITAL MAINTENANCE; NONFINANCIAL EQUITY
INVESTMENTS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC
1818(a); 12 USC 1818(b); 12 USC 1818(c); 12 USC 1818(t); 12 USC
1819(Tenth); 12 USC 1828(c); 12 USC 1828(d); 12 USC 1828(i); 12 USC
1828(n); 12 USC 1828(o); 12 USC 1831o; 12 USC 1835; 12 USC 3907; 12 USC
3909; 12 USC 4808; PL 102-233; 105 Stat 1761; 105 Stat 1789; PL 102-
242; 105 Stat 2236

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This rulemaking, sponsored jointly by the OCC, the FRS and
the FDIC, amends respective risk-based and leverage capital standards
for banks and bank holding companies with respect to the capital
treatment of nonfinancial equity investments. The rule would deduct
from Tier 1 capital certain percentages of the adjusted carrying value
of all nonfinancial equity investments.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/14/01                    66 FR 10212
NPRM Comment Period End         04/16/01
Final Action                    10/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Stephen G. Pfeifer, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-8904

RIN: 3064-AC47
_______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)          Long-Term Actions
 
_______________________________________________________________________

4268. CENSURE, SUSPENSION, AND DEBARMENT OF INDEPENDENT PUBLIC
ACCOUNTANTS

Priority: Substantive, Nonsignificant

CFR Citation: 12 CFR 308

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                             To Be                       Determined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Doris L. Marsh
Phone: 202 898-8905

RIN: 3064-AA64
_______________________________________________________________________

4269. ADVERTISEMENT OF MEMBERSHIP

Priority: Substantive, Nonsignificant

CFR Citation: 12 CFR 328

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/11/97                     62 FR 6142
NPRM Comment Period End         04/14/97
Final Action                     To Be                       Determined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Marc J. Goldstrom
Phone: 202 898-8807

RIN: 3064-AB99

[[Page 26542]]

_______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)          Completed Actions
 
_______________________________________________________________________

4270. PROGRAM FRAUD CIVIL REMEDIES

Priority: Substantive, Nonsignificant

Legal Authority: 5 USC 504; 5 USC 554 to 557; 12 USC 93(b); 12 USC 164;
12 USC 505; 12 USC 1817; 12 USC 1818; 12 USC 1820; 12 USC 1828; 12 USC
1829; 12 USC 1829b; 12 USC 1831o; 12 USC 1832(c); 12 USC 1884(b); 12
USC 1972; 12 USC 3102; 12 USC 3108(a); 12 USC 3349; 12 USC 3909; 12 USC
4717; 15 USC 78(h); 15 USC 78(i); 31 USC 330; 42 USC 4012a; PL 104-134

CFR Citation: 12 CFR 308

Legal Deadline: None

Abstract: This regulatory action implements the Program Fraud Civil
Remedies Act (PFCRA). The rule establishes administrative procedures to
impose statutorily authorized civil penalties against any person who
makes, submits, or presents a false, fictitious, or fraudulent
statement or claim under $150,000 for property, services, or money to
the FDIC in connection with FDIC contracting operations and in
connection with the FDIC Asset Purchaser Certification Program.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/29/00                    65 FR 52352
NPRM Comment Period End         10/30/00
Final Rule                      02/07/01                     66 FR 9187
Final Action Effective          03/09/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Linda Rego, Counsel, Corporate Affairs Section, Legal
Division, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-7048

RIN: 3064-AB41
_______________________________________________________________________

4271. ACTIVITIES OF INSURED STATE BANKS AND INSURED SAVINGS ASSOCIATIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 378; 12 USC 1813; 12 USC 1815; 12 USC 1816; 12
USC 1817; 12 USC 1818; 12 USC 1820; 12 USC 1823; 12 USC 1828; 12 USC
1828a; 12 USC 1831a; 12 USC 1831e; 12 USC 1831p-1; 12 USC 1831w; 12 USC
1835a; 12 USC 3104; 12 USC 3105; 12 USC 3108; 12 USC 3207; 12 USC 1601
to 1607; 12 USC 375a(4); 12 USC 375b; 12 USC 1818(a); 12 USC 1819; 12
USC 1820(d)(10); 12 USC 1821(f); 12 USC 1828(j)(2); 12 USC 1831f; 12
USC 1831f-1; 12 USC 1819(a)(Tenth); 12 USC 1828(m)

CFR Citation: 12 CFR 362; 12 CFR 303; 12 CFR 337

Legal Deadline: Final, Statutory, March 11, 2000.

Abstract: This rulemaking amends the FDIC's regulations governing
activities and investments of insured state banks to require that
notices be filed before insured state nonmember banks conduct
activities through a subsidiary if those activities must be conducted
in a financial subsidiary of a national bank. This subpart allows the
FDIC to impose standards and prudential safeguards when insured state
nonmember banks engage in activities that a national bank must conduct
in a financial subsidiary. It also requires insured state nonmember
banks to meet the mandatory CRA compliance requirement before engaging
in these activities under this subpart. In addition, this subpart
contains the required prudential separations between certain securities
affiliates and insured state nonmember banks. The rulemaking also
removes and reserves the provisions addressing, ``Securities Activities
of Subsidiaries of Insured State Banks: Bank Transactions with
Affiliated Securities Companies.'' The effect of these amendments will
be to require banks to notify the FDIC prior to conducting securities
or other activities through subsidiaries that are not permissible for
national banks directly. The rulemaking also adds certain technical
amendments to correct missing citations or incorrect cross-references
and similar matters.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/01/98                    63 FR 66339
NPRM Comment Period End         02/01/99
Interim Final Rule Effective    03/11/00
Interim Final Rule              03/23/00                    65 FR 15526
Interim Final Rule Comment
Period End                      05/22/00
Final Action                    01/05/01                     66 FR 1018
Final Action Effective          01/05/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Additional Information: The Final Rule and Confirmation of Interim
Final Rule with Changes was reported in the Federal Register on January
5, 2001 under RIN 3064-AC38.

Agency Contact: Curtis L. Vaughn, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-6759

RIN: 3064-AC20
_______________________________________________________________________

4272. DISCLOSURE AND REPORTING OF CRA-RELATED AGREEMENTS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1831y

CFR Citation: 12 CFR 346

Legal Deadline: None

Abstract: This rulemaking implements the requirements of section 711 of
the Gramm-Leach-Bliley Act. Section 711 requires an insured depository
institution to disclose any agreement with nongovernmental entities in
connection with the CRA, if the agreement involves a grant of more than
$10,000 or a loan of more than $50,000 to the community group annually.
In addition, annual reports must be made by the depository institutions
and the nongovernmental entities to the appropriate Federal banking
agency of the institutions containing information about the payments,
loans, and fees paid under the agreement, and how the nongovernmental
entity used the funds.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/19/00                    65 FR 31962
NPRM Comment Period End         07/21/00
Final Action                    01/10/01                     66 FR 2052
Final Action Effective          04/01/01

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Deanna Caldwell, Senior Policy Analyst, Division of
Compliance and Consumer Affairs, Federal Deposit Insurance Corporation,
Washington, DC 20429
Phone: 202 942-3366

RIN: 3064-AC33

[[Page 26543]]

_______________________________________________________________________

4273. CONSUMER PROTECTION IN SALES OF INSURANCE

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1819 (Seventh and Tenth); 12 USC 1831x

CFR Citation: 12 CFR 343

Legal Deadline: Final, Statutory, November 12, 2000.

Abstract: The rulemaking, sponsored jointly by the OCC, the FRS, the
FDIC and OTS, implements section 305 of the Gramm-Leach-Bliley Act of
1999, which requires regulations governing retail sales practices,
solicitations, advertising, or offers of any insurance product by a
depository institution or any person that is engaged in such activities
at an office of the institution or on behalf of the institution. In
addition, the rulemaking establishes a consumer grievance process.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/21/00                    65 FR 50882
NPRM Comment Period End         10/05/00
Final Rule                      12/04/00                    65 FR 75822
Final Rule Effective Date
Extended                        03/19/01                    66 FR 15345
Final Rule Effective            10/01/01

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Keith Ligon, Chief, Policy Unit, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-3618

RIN: 3064-AC37
_______________________________________________________________________

4274. INTERAGENCY GUIDELINES ESTABLISHING STANDARDS FOR SAFEGUARDING
CUSTOMER INFORMATION AND RECISSION OF YEAR 2000 STANDARDS FOR SAFETY AND
SOUNDNESS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1818(Tenth); 12 USC 1831p-1; 15 USC 6801(b); 15
USC 6805(b)(1); 5 USC 504; 5 USC 554 to 557; 12 USC 93(b); 12 USC 164;
12 USC 505; 12 USC 1815(e); 12 USC 1817; 12 USC 1818; 12 USC 1820; 12
USC 1828; 12 USC 1829; 12 USC 1829b; 12 USC 1831o; 12 USC 1832(c); 12
USC 1884(b)

CFR Citation: 12 CFR 308; 12 CFR 364

Legal Deadline: None

Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, the
FDIC and the OTS and implements sections 501 and 505(b) of the Gramm-
Leach Bliley Act. Section 501 of the Gramm-Leach-Bliley Act requires
agencies to establish appropriate standards for the financial
institutions subject to their respective jurisdictions relating to
administrative, technical, and physical safeguards for customer records
and information.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/26/00                    65 FR 39472
NPRM Comment Period End         08/25/00
Final Action                    02/01/01                     66 FR 8616
Final Action Effective          07/01/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Robert A. Patrick, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-3757

RIN: 3064-AC39
_______________________________________________________________________

4275. <bullet> RULES OF PRACTICE AND PROCEDURE

Priority: Substantive, Nonsignificant

Legal Authority: 5 USC 504; 5 USC 554-557; 12 USC 93(b); 12 USC 164; 12
USC 505; 12 USC 1815(e); 12 USC 1817; 12 USC 1818; 12 USC 1820; 12 USC
1828; 12 USC 1829; 12 USC 1829b; 12 USC 1831i; 12 USC 1831o; 12 USC
1831p-1; 12 USC 1832(c); 12 USC 1884(b); 12 USC 1972; 12 USC 3102; 12
USC 3108(a); 31 USC 330; 31 USC 5321; 42 USC 4012a; PL 104-134; 110
Stat 1321-358

CFR Citation: 12 CFR 308

Legal Deadline: None

Abstract: The Federal Civil Monetary Penalty Inflation Adjustment Act
of 1990 requires all Federal agencies with statutory authority to
impose civil money penalties (CMPs) to evaluate and adjust those CMPs
every four years. This rulemaking implements FDIC's required
adjustments to its CMP statutes.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    10/31/00                    65 FR 64884
Final Action Effective          10/31/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: John T. Mahshie, Counsel, Compliance and Enforcement
Section, Legal Division, Federal Deposit Insurance Corporation,
Washington, DC 20429
Phone: 202 898-3503

RIN: 3064-AC45
_______________________________________________________________________

4276. <bullet> RESCISSION OF DEPOSIT BROKER NOTIFICATION, RECORDKEEPING
AND REPORTING REQUIREMENTS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 375a(4); 12 USC 375b; 12 USC 1816; 12 USC
1818(a); 12 USC 1818(b); 12 USC 1819; 12 USC 1820(d)(10); 12 USC 1821f;
12 USC 1828(j)(2); 12 USC 1831; 12 USC 1831f-1

CFR Citation: 12 CFR 337

Legal Deadline: None

Abstract: As part of the Financial Regulatory Relief and Economic
Efficiency Act of 2000, Congress repealed section 29A of the FDIC Act.
Section 29A imposed certain requirements on deposit brokers and
authorized the FDIC to issue implementing regulations. The FDIC
rescinds the regulations issued to implement the now-repealed section
29A of the FDIC Act. As a result of Congress' repeal of section 29A and
the FDIC's rescission of the implementing regulations, deposit brokers
are no longer required to notify the FDIC that they are acting as
deposit brokers. Also, deposit brokers are no longer required to
maintain records as to the amounts and maturities of deposits placed by
the broker at each insured depository institution.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    04/03/01                    66 FR 17621
Final Action Effective          04/03/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

[[Page 26544]]

Government Levels Affected: None

Agency Contact: Joseph A. DiNuzzo, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-7349

RIN: 3064-AC48
[FR Doc. 01-5205 Filed 05-11-01; 8:45 am]
BILLING CODE 6714-01-S

 

Last Updated 05/14/2001 regs@fdic.gov