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 58407-58408]

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Proposed Rule Stage

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4288. <bullet> ACTIVITIES OF INSURED STATE BANKS AND INSURED SAVINGS

ASSOCIATIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 378; 12 USC 1813; 12 USC 1815; 12 USC 1816; 12

USC 1817(j); 12 USC 1818; 12 USC 1819 (Seventh and Tenth); 12 USC 1828;

12 USC 1831e; 12 USC 1831o; 12 USC 1831p-1; 15 USC 1607

CFR Citation: 12 CFR 362; 12 CFR 337; 12 CFR 303

Legal Deadline: None

Abstract: This rulemaking withdraws a proposed rule published August

23, 1996, in the Federal Register at 61 FR 43486 (RIN 3064-AB75) to

amend the FDIC's regulations governing the activities and investments

of insured State banks, and replaces it with a more comprehensive rule.

The more comprehensive rulemaking combines the FDIC's regulations

governing the activities and investments of insured State banks

(presently found in 12 CFR part 362) with those governing insured

savings associations (presently found at 12 CFR 303.12) into a revised

part 362. In addition, the rule moves the FDIC's regulations governing

safety and soundness of securities activities of subsidiaries and

affiliates of insured State nonmember banks (currently at 12 CFR 337.4)

into part 362. The intention is to modernize this group of regulations

and harmonize the provisions of part 362 governing activities that are

not permissible for national banks with those governing the securities

activities of State nonmember banks.

[[Page 58408]]

Timetable:

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Action Date FR Cite

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NPRM 09/12/97 62 FR 47969

NPRM Comment Period End 12/11/97

Final Action 04/00/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Curtis Vaughn, Examination Specialist, Division of

Supervision, Federal Deposit Insurance Corporation, Washington, DC

20429

Phone: 202 898-6759

RIN: 3064-AC12

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