FDIC Federal Register Citations

[Page 65418]

Federal Deposit Insurance Corporation (FDIC) Final Rule Stage

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4426. 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:
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Action Date FR Cite

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NPRM 12/01/98 63 FR 66339
NPRM Comment Period End 02/01/99
Final Action 01/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Curtis L. Vaughn, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-6759

RIN: 3064-AC20
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