FDIC Federal Register Citations

[November 9, 1998 (Volume 63, Number 216)]

[Unified Agenda]

From the Federal Register Online via GPO Access [frwais.access.gpo.gov]

[DOCID:ua09no98_052-1]

[Page 62697-62699]

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)

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Part LIV

Federal Deposit Insurance Corporation

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Semiannual Regulatory Agenda

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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 October 1998 regulatory agenda. 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 both the Regulatory

Flexibility Act (5 U.S.C. 601 et seq.) and the FDIC statement of policy

entitled ``Development and Review of FDIC Rules and Regulations.'' This

policy was revised recently (63 FR 25157, May 7, 1998) to focus it more

sharply on the FDIC's approach to regulatory reform.

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.

The Riegle Community Development and Regulatory Improvement Act

of 1994 (CDRI) contains reforms that significantly restructure the

regulation of financial institutions. As a consequence, many of the

regulations included in this agenda are in response to CDRI. The

FDIC is continuing to develop regulations implementing the most

recent legislative requirements. These include the requirement in

section 303 of CDRI that the Federal banking regulators conduct a

review of all their regulations and written policies to streamline

them, remove inconsistencies, improve efficiency, reduce

unnecessary costs, and make uniform all regulations and guidelines

implementing common statutory or supervisory policies. Changes to

the FDIC's regulations as a result of CDRI will be noted in this

and future semiannual agendas as they emerge from these reviews.

The Federal banking regulators are the FDIC, 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.