FDIC Federal Register Citations

[October 29, 1997 (Volume 62, Number 209)]

[Unified Agenda]

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

[Page 58411-58412]

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Completed Actions

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4306. PREVENTION OF DEPOSIT SHIFTING

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815; 12 USC 1819

CFR Citation: 12 CFR 312

Legal Deadline: None

The deposit shifting statute terminates on the earlier of Dec. 31,

1999, or the date on which the last savings association ceases to

exist.

Abstract: This notice of proposed rulemaking sought comment on how to

implement a new statute to prevent the shifting of deposits insured

under the Savings Association Insurance Fund

[[Page 58412]]

(SAIF) to deposits insured under the Bank Insurance Fund (BIF) to avoid

assessment rates applicable to SAIF deposits. After considering the

comments received, the FDIC decided that the statute's provisions could

be implemented without a regulation. On July 22, 1997, the FDIC's Board

of Directors voted to withdraw the proposal.

Timetable:

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Action Date FR Cite

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NPRM 02/11/97 62 FR 06139

NPRM Comment Period End 04/14/97

Withdrawn 07/29/97 62 FR 40487

Small Entities Affected: None

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-AC01

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