FDIC Federal Register Citations

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Part LIII

Federal Deposit Insurance Corporation

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Semiannual Regulatory Agenda

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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)
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FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Ch. III

Semiannual Agenda of Regulations

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Semiannual regulatory agenda.
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SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is hereby publishing items for the spring 2003 Unified Agenda of Federal 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.

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Federal Deposit Insurance Corporation (FDIC) Prerule Stage
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3988. 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 advance 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: ANPRM Date: 10/05/94  FR Cite: 59 FR 50710

Action: ANPRM Comment Period End:  02/02/95

Action: Second ANPRM  Date: 08/00/03

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Munsell St. Clair, Senior Policy Analyst, Division of Insurance and Research, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-8967
RIN: 3064-AB46
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Federal Deposit Insurance Corporation (FDIC) Proposed Rule Stage
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3989. 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 (Act) authorizes the Federal banking agencies to publish Fair Credit Reporting Act regulations to carry out the purposes of the 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: NPRM  Date: 10/20/00 FR Cite: 65 FR 63120

Action: NPRM Comment Period End: 12/04/00

Action: Second NPRM Date:  06/00/03

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
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3990. 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: NPRM Date: 10/00/03

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
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3991. DEPOSIT INSURANCE COVERAGE

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1813(l)

CFR Citation: 12 CFR 330

Legal Deadline: None

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

Timetable:

Action: NPRM Date: 10/00/03

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
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3992. 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: ANPRM Date: 11/03/00 FR Cite: 65 FR 66193

Action: ANPRM Comment Period End: 02/01/01

Action: NPRM Date: 11/00/03

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

RIN: 3064-AC44
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3993. DEPOSIT INSURANCE REGULATIONS; LIVING TRUST ACCOUNTS

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 simplifies the regulations on the insurance coverage of living trust accounts.

Timetable:

Action: NPRM Date: 05/00/03

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
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Federal Deposit Insurance Corporation (FDIC) Final Rule Stage
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3994. 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 the Gramm-Leach-Bliley Act, sections 201 or 202.

Timetable:

Action: NPRM Date: 12/30/96 FR Cite: 61 FR 68824

Action: NPRM Comment Period End: 02/28/97

Action: Final Action  Date: 10/00/03

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
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3995. 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 
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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: Interim Final Rule Date: 12/05/00 FR Cite:  65 FR 75856

Action: Interim Final Rule Effective 01/04/01

Action: Interim Final Rule Comment Period End: 01/19/01

Action: Final Action Date: 05/00/03

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
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3996. FILING PROCEDURES; CORPORATE POWERS; INTERNATIONAL BANKING; MANAGEMENT OFFICIAL INTERLOCKS

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 1828m; 12 USC 1831p-1(c); 12 USC 1823(k); 12 USC 1828(k); 12 USC 3207 CFR Citation: 12 CFR 303; 12 CFR 333; 12 CFR 347; 12 CFR 348; 12 CFR 359

Legal Deadline: None

Abstract: This rulemaking amends regulations governing filing procedures, international banking and management official interlocks by making technical corrections and modifications to clarify existing policies and procedures.

Timetable:

Action: NPRM Date: 12/27/02 FR Cite: 67 FR 79271

Action: NPRM Comment Period End:  02/25/03

Action: Final Action Date: 05/00/03

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Mindy West Schwartzstein, 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
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3997. [bull] REMOVAL, SUSPENSION, AND DEBARMENT OF ACCOUNTANTS FROM PERFORMING AUDIT SERVICES

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 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 1831m(g)(4); 12 USC 1831o; 12 USC 1831p-1; 12 USC 1832(c); 12 USC 1884(b); 15 USC
78(h); 15 USC 78(i); 31 USC 330; 31 USC 5321; 42 USC 4012a; PL 104-134 CFR Citation: 12 CFR 308

Legal Deadline: None

Abstract: This rulemaking, sponsored jointly by the OCC, the FRS, OTS, and the FDIC, revises the agencies' rules to establish rules of practice and procedure for the removal, suspension, and debarment of
accountants and their firms from performing section 36 of the Federal Deposit Insurance Act audit services for insured depository institutions.

Timetable:

Action: NPRM Date: 01/08/03 FR Cite: 68 FR 1115

Action: NPRM Comment Period End: 03/10/03

Action: Final Action Date:  06/00/03

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Richard Bogue, Counsel, Enforcement Unit, Legal Division, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-3726

RIN: 3064-AC57
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Federal Deposit Insurance Corporation (FDIC) Long-Term Actions
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3998. COMMUNITY REINVESTMENT ACT REGULATIONS (SECTION 610 REVIEW)

Priority: Substantive, Nonsignificant

CFR Citation: 12 CFR 345

Timetable:

Action: ANPRM Date: 07/19/01 FR Cite: 66 FR 37602

Action: ANPRM Comment Period End: 10/17/01

Action: NPRM Date: To Be Determined

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Tim Burniston Phone: 202 898-6670

RIN: 3064-AC50

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Federal Deposit Insurance Corporation (FDIC) Completed Actions
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3999. MINIMUM STANDARDS OF INTEGRITY AND FITNESS FOR AN FDIC CONTRACTOR (COMPLETION OF A 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: Interim Final Rule Date: 05/15/02 FR Cite: 67 FR 34591

Action: Interim Final Rule Effective 05/15/02

Action: Interim Final Rule Comment Period End: 07/15/02

Action: Final Action Date: 11/20/02 FR Cite: 67 FR 69990

Action: Final Action Effective 12/20/02

Regulatory Flexibility Analysis Required: No

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
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4000. 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 of authorities regarding filings and enforcement actions, and makes technical amendments.

Timetable:

Action: Final Action Date: 12/27/02 FR Cite: 67 FR 79246

Action: Final Action Effective 12/27/02

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Mindy West Schwartzstein, Examination Specialist, Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-7221

RIN: 3064-AC51
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4001. 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: NPRM Date: 07/23/02 FR Cite: 67 FR 48054

Action: NPRM Comment Period End: 10/21/02

Action: Final Action Date: 02/13/03 FR Cite: 68 FR 7301

Action: Final Action Effective 03/17/03

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Mindy West Schwartzstein, Examination Specialist, Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-7221

RIN: 3064-AC53
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4002.  AGENCY REORGANIZATION; NOMENCLATURE CHANGES

Priority: Substantive, Nonsignificant

Legal Authority: 5 USC 7301; 12 USC 1819(a); 12 USC 1822; 26 USC 1043; 5 USC 504; 12 USC 93(b); 12 USC 375a(4); 12 USC 1818(a); 12 USC 1818(b) CFR Citation: 12 CFR 308; 12 CFR 309; 12 CFR 310; 12 CFR 311; 12 CFR 337

Legal Deadline: None

Abstract: This rulemaking addresses nomenclature changes affected by an internal reorganization order dated June 30, 2002. The rule also makes appropriate conforming changes in several of the FDIC's regulations in title 12 and, with the concurrence of the Office of Government Ethics, in the FDIC's supplemental standards of ethical conduct regulation in title 5.

Timetable:

Action: Final Action Date: 11/29/02 FR Cite: 67 FR 71069

Action: Final Action Effective 11/29/02

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Frederick L. Fisch, Senior Attorney, FOIA/PA Group, Legal Division, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 736-0526

RIN: 3064-AC56

[FR Doc. 03-7439 Filed 05-23-03; 8:45 am]

BILLING CODE 6714-01-S