Home > Regulation & Examinations > Laws & Regulations > FDIC Federal Register Citations




FDIC Federal Register Citations

[[December 9, 2002 (Volume 67, Number 236)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID: f:ua021253.wais]
[Page 75573-75579]
Federal Deposit Insurance Corporation
[[Page 75573]]
----------------------------------------------------------------------

Part LIII
-----------------------------------------------------------------------
Semiannual Regulatory Agenda
[[Page 75574]]
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 fall 2002 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 provisions 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, 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.

FDIC Prerule Stage

Sequence Number

           Title

4116 12 CFR 327 Assessments--Assessment Base

FDIC Proposed Rule Stage

Sequence Number

           Title

4117 12 CFR 334 Fair Credit Reporting Act Regulations
4118 12 CFR 342 Brokers and Dealers
4119 12 CFR 330 Deposit Insurance Coverage
4120 12 CFR 325 Simplified Capital Framework for Noncomplex Financial Institutions
4121 12 CFR 303 Insurance of State Banks Chartered as Limited Liability Companies
4122 12 CFR 330 Deposit Insurance Regulations; Living Trust Accounts; Depository Institution Checks; Deposit Insurance Pamphlet
4123 12 CFR 303 Filing Procedures

FDIC Final Rule Stage

Sequence Number

           Title

4124 12 CFR 342 Qualification Requirements for the Recommendation or Sale of Certain
Securities
4125 12 CFR 366 Minimum Standards of Integrity and Fitness for an FDIC Contractor (section 620 Review)
4126 12 CFR 325 Risk-Based Capital Guidelines: Market Risk Measure; Securities Borrowing Transactions
4127 12 CFR 303 Filing Procedures and Delegations of Authority

FDIC Long-Term Actions

Sequence Number

           Title

4128 12 CFR 345 Community Reinvestment Act Regulations (Section 610 Review)

FDIC Completed Actions

Sequence Number

           Title

4129 12 CFR 360 Payment of Postsolvency Interest in Receiverships With Surplus Funds
4130 12 CFR 325 Risk-Based Capital Standards: Claims on Securities Firms
4131 12 CFR 369 Prohibition Against Use of Interstate Branches Primarily For Deposit Production
4132 12 CFR 313 Procedures for Debt Collection

Prerule Stage

4116. 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 advanced notice of proposed rulemaking 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 11/00/02
Regulatory Flexibility Analysis Required: Undetermined
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

Proposed Rule Stage

4117. 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 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 11/00/02
Regulatory Flexibility Analysis Required: 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-AC35
_______________________________________________________________________

4118. BROKERS AND DEALERS
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 78a
CFR Citation: 12 CFR 342
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 exemptions listed in sections 201 and 202 of GLBA.
Timetable:
________________________________________________________________________

Action Date FR Cite
________________________________________________________________________

NPRM 06/00/03
[Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Michael Phillips, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-3581
Related RIN: Related To 3064-AB85
RIN: 3064-AC42
_______________________________________________________________________

4119. 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 12/00/02
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Catherine Ribnick, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 736-0117
RIN: 3064-AC43
_______________________________________________________________________

4120. 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 the 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 12/00/02
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Michael Phillips, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-3581
RIN: 3064-AC44
_______________________________________________________________________

4121. [bull] INSURANCE OF STATE BANKS CHARTERED AS LIMITED LIABILITY COMPANIES
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 1819 (Seventh and Tenth); 12 USC 1820; 12 USC 1823; 12 USC 1828; 12 USC 1831e; 12 USC 1831o; 12 USC 1831p-1; 12 USC 1831w; 12 USC 1835a; 12 USC 1843(l); 12 USC 3104; 12 USC 3105; 12
USC 3108; 12 USC 3207; 15 USC 1601 to 1607
CFR Citation: 12 CFR 303
Legal Deadline: None
Abstract: This rulemaking clarifies that a State bank that is chartered as a limited liability company would be considered to be incorporated for the purposes of being eligible for Federal deposit insurance under
certain circumstances.
Timetable:
________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 07/23/02 67 FR 48054
NPRM Comment Period End 10/21/02
Final Action 12/00/02
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Curtis L. Vaughn, Examination Specialist, Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-6759
RIN: 3064-AC53
_______________________________________________________________________

4122. [bull] DEPOSIT INSURANCE REGULATIONS; LIVING TRUST ACCOUNTS;
DEPOSITORY INSTITUTION CHECKS; DEPOSIT INSURANCE PAMPHLET
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1813(l); 12 USC 1813(m); 12 USC 1817(I); 12 USC 1818(q); 12 USC 1819 (Tenth); 12 USC 1820(f); 12 USC 1821(a)
CFR Citation: 12 CFR 330
Legal Deadline: None
Abstract: This rulemaking: (1) simplifies the regulations on the insurance coverage of living trust accounts; (2) adds an exemption for deposit funds withdrawn by an ``official'' depository institution check issued just before an insured depository institution fails and; (3) requires FDIC-insured depository institutions to make available to their customers the FDIC's deposit insurance brochure.
Timetable:
________________________________________________________________________

Action Date FR Cite
________________________________________________________________________

NPRM  11/00/02
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
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-AC54
_______________________________________________________________________

4123. [bull] FILING PROCEDURES
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 378
CFR Citation: 12 CFR 303
Legal Deadline: None
Abstract: This rulemaking revises information requirements for change in control, reflects certain Gramm-Leach-Bliley requirements and adds a waiver provision for filings.
Timetable:
________________________________________________________________________

Action Date FR Cite
________________________________________________________________________

NPRM 11/00/02
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Mindy West, Examination Specialist, Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-7221
Related RIN: Related To 3064-AC51
RIN: 3064-AC55
______________________________________________________________________________________

Final Rule Stage

4124. 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 notice of proposed rulemaking (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.
Timetable:
________________________________________________________________________

Action Date FR Cite
________________________________________________________________________

NPRM 12/30/96 61 FR 68824
NPRM Comment Period End 02/28/97
Final Action 06/00/03
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Michael Phillips, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-3581
Related RIN: Related To 3064-AC42
RIN: 3064-AB85
_______________________________________________________________________

4125. MINIMUM STANDARDS OF INTEGRITY AND FITNESS FOR AN FDIC CONTRACTOR
(SECTION 610 REVIEW)
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1819 (Tenth); 12 USC 1822(f)(3); 12 USC
1822(f)(4); 107 Stat 2369
CFR Citation: 12 CFR 366
Legal Deadline: None
Abstract: This rulemaking replaces the Contractor Conflicts of Interest rule and establishes standards for independent contractors governing contracting prohibitions, conflicts of interest, ethical responsibilities, confidential information, and reportable information.
Timetable:
________________________________________________________________________

Action Date FR Cite
________________________________________________________________________

Interim Final Rule 05/15/02 67 FR 34591
Interim Final Rule Effective 05/15/02
Interim Final Rule Comment
Period End 07/15/02
Final Action 11/00/02
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Martin Blumenthal, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 736-0359
RIN: 3064-AC29
_______________________________________________________________________

4126. 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
1818(a) to 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 12/00/02
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Robert F. Storch, Chief, Accounting Section, Division
of Supervision and Consumer Protection, Federal Deposit Insurance
Corporation, Washington, DC 20429
Phone: 202 898-8906
RIN: 3064-AC46
_______________________________________________________________________

4127. FILING PROCEDURES AND DELEGATIONS OF AUTHORITY
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 378
CFR Citation: 12 CFR 303
Legal Deadline: None
Abstract: This rulemaking revises part 303 to reflect the corporate reorganization, removes all delegations
[[Page 75578]] of authorities regarding filings and enforcement actions, and makes technical amendments.
Timetable:
________________________________________________________________________

Action Date FR Cite
________________________________________________________________________

Final Action 11/00/02
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Mindy West, Examination Specialist, Division of
Supervision and Consumer Protection, Federal Deposit Insurance
Corporation, Washington, DC 20429
Phone: 202 898-7221
RIN: 3064-AC51
______________________________________________________________________________________

Long-Term Actions

4128. COMMUNITY REINVESTMENT ACT REGULATIONS (SECTION 610 REVIEW)
Priority: Substantive, Nonsignificant
CFR Citation: 12 CFR 345
Timetable:
________________________________________________________________________

Action Date FR Cite
________________________________________________________________________

ANPRM 07/19/01 66 FR 37602
ANPRM Comment Period End 10/17/01
NPRM To Be Determined
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Deanna Caldwell
Phone: 202 942-3366
RIN: 3064-AC50
______________________________________________________________________________________

Completed Actions

4129. PAYMENT OF POST-INSOLVENCY INTEREST IN RECEIVERSHIPS WITH SURPLUS FUNDS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1821(d)(1); 12 USC 1821(d)(10)(C); 12 USC 1821(d)(11); 12 USC 1821(e)(1); 12 USC 1821(e)(8)(D)(i); 12 USC 1823(c)(4); 12 USC 1823(e)(2); PL 101-73; 103 Stat 357 CFR Citation: 12 CFR 360
Legal Deadline: None
Abstract: This rulemaking establishes uniform rules governing the payment and priority of post-insolvency interest in insured depository institution receiverships with surplus funds.
Timetable:
________________________________________________________________________

Action Date FR Cite
________________________________________________________________________

NPRM 12/18/01 66 FR 65144
NPRM Comment Period End 02/19/02
Final Action 05/14/02 67 FR 34385
Final Action Effective 06/13/02
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-AB92
_______________________________________________________________________

4130. 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) to 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 04/09/02 67 FR 16971
Final Action Effective 07/01/02
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Robert F. Storch, Chief, Accounting Section, Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-8906
RIN: 3064-AC17
_______________________________________________________________________

4131. 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. [[Page 75579]] Timetable:
________________________________________________________________________

Action Date FR Cite
________________________________________________________________________

NPRM 04/09/01 66 FR 18411
NPRM Comment Period End 06/08/01
Final Action 06/06/02 67 FR 38844
Final Action Effective 10/01/02
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Mark A. Mellon, Counsel, Legal Division, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-3884
RIN: 3064-AC36
_______________________________________________________________________

4132. PROCEDURES FOR CORPORATE DEBT COLLECTION
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
________________________________________________________________________

Final Action 07/25/02 67 FR 48525
Final Action Effective 08/26/02
Regulatory Flexibility Analysis Required: 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

[FR Doc. 02-23906 Filed 12-06-02; 8:45 am]
BILLING CODE 6714-01-S
ILLING CODE 6714-01-S
_______________________________________________________________________________________

Last Updated 12/09/2002 regs@fdic.gov