FDIC Federal Register Citations

[April 26, 1999 (Volume 64, Number 77)]

[Unified Agenda]

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

[DOCID:ua26ap99_053-17]

[Page 22318-22319]

Part LV

Federal Deposit Insurance Corporation

_______________________________________________________________________

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Final Rule Stage

_______________________________________________________________________

4241. 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 Activities of Subsidiaries of

Insured State Banks: Bank Transactions with Affiliated Securities

Companies.''

Timetable:

________________________________________________________________________

Action Date FR Cite

________________________________________________________________________

NPRM 12/01/98 63 FR 66339

NPRM Comment Period End 02/01/99

Final Action 06/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

[[Page 22319]]

Agency Contact: Curtis Vaughn, Examination Specialist, Division of

Supervision, Federal Deposit Insurance Corporation, Washington, DC

20429

Phone: 202 898-6759

RIN: 3064-AC20

_______________________________________________________________________