[November 9, 1998 (Volume 63, Number 216)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID:ua09no98_052-8]

[Page 62700-62701]
 
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)        Proposed Rule Stage

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4450. <bullet> ACTIVITIES OF INSURED STATE BANKS AND INSURED SAVINGS 
ASSOCIATIONS

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 
1821(f); 12 USC 1818; 12 USC 1819 (Tenth); 12 USC 1828(m); 12 USC 
1831a; 12 USC 1831e

CFR Citation:  12 CFR 362; 12 CFR 337

Legal Deadline: None

Abstract: This rulemaking proposes to add safety and soundness 
standards to govern insured State nonmember banks that engage in the 
public sale, distribution or underwriting of stocks, bonds, debentures, 
notes or other securities through a subsidiary if those activities are 
permissible for a national bank subsidiary but are not permissible for 
the national bank itself. In addition, the rulemaking proposes to 
require that insured State nonmember banks file a notice before 
commencing any activities permissible for the parent national bank 
itself. The rulemaking also proposes to remove and reserve the 
provisions addressing ``Securities Activites of Subsidiaries of Insured 
State Banks: Bank Transactions with Affiliated Securities Companies.''

Timetable:
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Action                            Date                      FR Cite

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NPRM                            11/00/98

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Curtis Vaughn, Examination Specialist, Division of 
Supervision, Federal Deposit Insurance Corporation, Washington, DC 
20429

[[Page 62701]]

Phone: 202 898-6759

RIN: 3064-AC20
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Last Updated 04/25/1997 regs@fdic.gov