Semiannual Agenda of Regulations. 12 CFR Ch. III.

[October 31,2005 (Volume 70, Number 209)]
       [Unified Agenda]
       From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
       [DOCID: f:ua051051.wais]

      [Page 65604-65609]
       

      Federal Deposit Insurance Corporation

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       Part LI
       
       Federal Deposit Insurance Corporation
       
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       Semiannual Regulatory Agenda
       
       [[Page 65604]]
       
       FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)
       
       _______________________________________________________________________
       
       FEDERAL DEPOSIT INSURANCE CORPORATION
       
       12 CFR Ch. III
       
       Semiannual Agenda of Regulations
       
       AGENCY: Federal Deposit Insurance Corporation.
       
       ACTION: Semiannual regulatory agenda.
       
       _______________________________________________________________________
       
       SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is hereby
       publishing items for the Fall 2005 Unified Agenda of Federal
       Regulatory and Deregulatory Actions. 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 the Regulatory 
       Flexibility Act (5 U.S.C. 601 et seq.). 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.

      In this edition of the Fall 2005 Agenda, the FDIC published three 
       proposed rules: (1) The ``Annual Independent Audits and Reporting 
       Requirements'' published August 2, 2005; (2) the ``Deposit Insurance 
       Coverage; Stored Value Cards and Other Nontraditional Access 
       Mechanisms'' published August 8, 2005, (3) ``One-Year Post-Employment 
       Restrictions for Senior Examiners'' published jointly with the Office of 
       the Comptroller of the Currency (OCC), Federal Reserved System (Board), 
       and the Office of Thrift Supervision (OTS) August 5, 2005. Also 
       published were two interim final rules: (1) ``Deposit Insurance 
       Coverage, Accounts of Qualified Tuition Savings Programs Under Section 
       529 of the Internal Revenue Code'' published June 9, 2005; (2) the 
       ``Fair Credit Reporting Medical Information Regulations'', published  
       jointly with the Board, OCC, OTS and the National Credit Union 
       Administration June 10, 2005. In addition, the FDIC published a final 
       rule, ``Community Reinvestment Act Regulations'' on August 2,  
       2005.

      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.

      Robert E. Feldman,

      Executive Secretary,
       Federal Deposit Insurance Corporation. 
 

       Federal Deposit Insurance Corporation--Proposed 
       Rule Stage

   Federal Deposit Insurance Corporation (FDIC) -----  Proposed Rule Stage

  _______________________________________________________________________
   
   3972. REGULATORY PUBLICATION AND REVIEW

  Priority: Other Significant. Major status under 5 USC 801 is 
   undetermined.

  Legal Authority: Not Yet Determined

  CFR Citation: None

  Legal Deadline: None

  Abstract: OCC, FRB, FDIC, and OTS are reviewing their regulations to
   reduce burden imposed on insured depository institutions as required by
   section 2222 of the Economic Growth and Regulatory Act of 1996.

  Timetable:
   _______________
 

    Regulatory Flexibility Analysis Required: No

  Small Entities Affected: No

  Government Levels Affected: None

   URL For More Information: www.egrpra.gov

   URL For Public Comments www.egrpra.gov

   Agency Contact: Claude A. Rollin, Senior Counsel, Legal Division, Federal 
   Deposit Insurance Corporation, Washington, DC 20429 
   Phone: 202 898-8741

  RIN: 3064-AC59
   _______________________________________________________________________

  3973. DEPOSIT INSURANCE COVERAGE; STORED VALUE CARDS AND OTHER 
   NONTRADITIONAL ACCESS MECHANISMS

  Priority: Other Significant

  Unfunded Mandates: Undetermined

  Legal Authority: 12 USC 1813(l); 12 USC 1813(m); 12 USC 1817(i); 12 USC 
   1818(q); 12 USC 1819 (Tenth)

  CFR Citation: 12 CFR 330

  Legal Deadline: None

  Abstract: FDIC published a proposed regulation that would clarify the 
   insurance coverage of funds subject to transfer or withdrawal through the 
   use of stored value cards and other nontraditional access mechanisms. This 
   proposed rule is a revision of a proposed rule published by the FDIC in 
   April of 2004 (the ``First Proposed Rule''). See 69 FR 20558 (April 16, 
   2004). The purpose of the revised proposed rule (the ``Second Proposed 
   Rule'') is to address certain issues raised by commenters in response to the 
   original proposal.
 

    Regulatory Flexibility Analysis Required: No

  Small Entities Affected: No

  Government Levels Affected: None

  URL For More Information: <a href="/regulations/laws/federal/propose.html">
   http://www.fdic.gov/regulations/laws/federal/propose.html</a>
   
   

  Agency Contact: Christopher L. Hencke, Counsel, Legal Division, Federal 
   Deposit Insurance Corporation, Washington, DC 20429
   Phone: 202 898-8839

  RIN: 3064-AC80
   _______________________________________________________________________
   
   3974.  ONE-YEAR POST-EMPLOYMENT RESTRICTIONS FOR SENIOR EXAMINERS

  Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is 
   undetermined.

  Legal Authority: 5 USC 504 ; 5 USC 554 to 557; 12 USC 93(b); 12 USC 164; 
   12 USC 505; 12 USC 1815(e); 12 USC 1817 to 1818; 12 USC 1820; 12 USC 1828 to 
   1829; 12 USC 1829(b); 12 USC 1831i; 12 USC 1831m(g)(4); 12 USC 1831o; 12 USC 
   1831p-1; 12 USC 1832(c); 12 USC 1884(b); 12 USC 1972; 
   12 USC 12 USC 3102; 12 USC 3108(a); 12 USC 3349; 12 USC 3909; 12 USC 4717; 
   15 USC 78(h) to 78(i); 15 USC 78o-4(c); 15 USC 78o-5; 15 USC 78q-1; 15 USC 
   78s; 15 USC 78u; 15 USC 78u-2 to 78u-3; 15 USC 78w; 15 USC 6801(b); 15 USC 
   6805(b)(1); 28 USC 2461 note; 31 USC 330; 31 USC 5321; 42 USC 4012a; sec 
   3100s, PL 104-134, 110 Stat 1321-358; 12 USC 1819; 12 USC 1820(k)

  CFR Citation: 12 CFR 308; 12 CFRt 336

  Legal Deadline: None

  Abstract: The OCC, Board, FDIC and OTS (The Agencies) propose to adopt 
   rules to implement section 6303(b) of the Intelligence Reform and Terrorism 
   Prevention Act of 2004 which added a new section 10(k) to the Federal 
   Deposit Insurance Act. Section 10(k)imposes post-employment restrictions on 
   senior examiners of depository institutions and depository institution 
   holding companies.

  Timetable:
 

    Regulatory Flexibility Analysis Required: No 
   Small Entities Affected: No

  Government Levels Affected: None

  URL For More Information: 
   <a href="/regulations/laws/federal/final.html">http://www.fdic.gov/regulations/laws/federal/final.html</a>
   
   

  Agency Contact: Kimberly K. Copa, Federal Deposit Insurance Corporation, 
   550 17th Street NW., MB-3052, NW, Washington, DC 20429
   Phone: 202 898-8832

  RIN: 3064-AC92
   
   _______________________________________________________________________

  <p align="center"><b>Federal Deposit Insurance Corporation (FDIC) Final Rule Stage</b>

  _______________________________________________________________________

  3975. FILING PROCEDURES; TRANSACTIONS WITH AFFILIATES

  Priority: Other Significant. Major status under 5 USC 801 is 
   undetermined.

  Legal Authority: 12 USC 1819 (Tenth); 12 USC 1828 (j)(1); 12 USC 378; 12 
   USC 1813; 12 USC 1815; 12 USC 1817; 12 USC 1818; 12 USC 1819 (Seventh); 12 
   USC 1820; 12 USC 1823; 12 USC 1828; 12 USC 1831a; 12 USC 1831e; 12 USC 
   1831o; 12 USC 1831p-1; 12 USC 1831w; 12 USC 1835a; 12 USC 1843(l); 12 USC 
   3104; 12 USC 3105; 12 USC 3108; 12 USC 3207; 15 USC 1601 to 1607

  CFR Citation: 12 CFR 303; 12 CFR 324

  Legal Deadline: None

  Abstract: FDIC is proposing to adopt its own regulation that would cross 
   reference Regulation W to make it clear that insured State nonmember banks 
   are subject to the restrictions and limitations, and may take advantage of 
   the exemptions, contained in Regulation W.

  Timetable:

    Regulatory Flexibility Analysis Required: No
   
   Small Entities Affected: No
   
   Government Levels Affected: None
   
   URL For More Information:
   <a href="/regulations/laws/federal/propose.html">http://www.fdic.gov/regulations/laws/federal/propose.html</a>
   
   URL For Public Comments:
   <a href="/regulations/laws/federal/04comfiling.html">http://www.fdic.gov/regulations/laws/federal/04comfiling.html</a>
   
   Agency Contact: Pamela E. F. LeCren, Counsel, Legal Division, Federal
   Deposit Insurance Corporation, Washington, DC 20429
   Phone: 202 898-3730
   
   RIN: 3064-AC78
   _______________________________________________________________________
   3976. FAIR CREDIT REPORTING MEDICAL INFORMATION REGULATIONS

  Priority: Other Significant

  Legal Authority: 12 USC 1818; 12 USC 1819 (Tenth); 15 USC 1681b; 15 USC 
   1681s

  CFR Citation: 12 CFR 334

  Legal Deadline: None

  Abstract: OCC, FRB, FDIC, OTS, and NCUA are publishing for comment 
   proposed regulations implementing section 411 of the Fair and Accurate 
   Credit Transactions Act of 2003 (FACT Act). Public Law 108-159, 117 Stat. 
   1952. The FACT Act substantially amends the Fair Credit Reporting Act (FCRA 
   or Act), 15 U.S.C. 1681 et seq. Section 411(a) of the FACT Act adds a new 
   section to the FCRA to restrict the circumstances under which consumer 
   reporting agencies may furnish consumer reports that contain medical 
   information about consumers.

  Timetable:
 

    Regulatory Flexibility Analysis Required: No
   
   Small Entities Affected: No
   
   Government Levels Affected: None
   
   URL For More Information:
   <a href="/regulations/laws/federal/propose.html">
   http://www.fdic.gov/regulations/laws/federal/propose.html</a>
   URL For Public Comments: 
   <a href="/regulations/laws/federal/04comfaircredit.html">
   http://www.fdic.gov/regulations/laws/federal/04comfaircredit.html</a>
   

  Agency Contact: Richard M. Schwartz, Counsel, Federal Deposit Insurance 
   Corporation, 550 17th Street NW, MB-3101, Washington, DC 20429
   Phone: 202 898-7424

  RIN: 3064-AC81
   _______________________________________________________________________
   

  3977. FAIR CREDIT REPORTING AFFILIATE MARKETING REGULATIONS

  Priority: Other Significant

  Legal Authority: 12 USC 1818; 12 USC 1819 (Tenth); 15 USC 1681b; 15 USC 
   1681s

  CFR Citation: 12 CFR 334

  Legal Deadline: None

  Abstract: OCC, FRB, FDIC, OTS, and NCUA are publishing for comment 
   proposed regulations to implement the affiliate marketing provisions in 
   section 214 of the Fair and Accurate Credit Transactions Act of 2003, which 
   amends the Fair Credit Reporting Act. The proposed regulations generally 
   prohibit a person from using information received from an affiliate to make 
   a solicitation for marketing purposes to a consumer, unless the consumer is 
   given notice, an opportunity, and a simple method to opt out of the making 
   of such solicitations.

  Timetable:

    Regulatory Flexibility Analysis Required: No
   
   Small Entities Affected: No
   
   Government Levels Affected: None
   
   URL For More Information:
   <a href="/regulations/laws/federal/propose.html">http://www.fdic.gov/regulations/laws/federal/propose.html</a>
   Agency Contact: Richard M. Schwartz, Counsel, Federal Deposit Insurance

  [[Page 65607]]

  Corporation, 550 17th Street NW, MB-3101, Washington, DC 20429
   Phone: 202 898-7424

  RIN: 3064-AC83
   _______________________________________________________________________
   
   3978.  DEPOSIT INSURANCE COVERAGE; ACCOUNTS OF QUALIFIED TUITION 
   SAVINGS PROGRAMS UNDER SECTION 529 OF THE INTERNAL REVENUE CODE.

  Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is 
   undetermined.

  Legal Authority: 12 USC 1813(1); 1813 (m); 1817(i); 1818(q); 1819 
   (Tenth); 1820 (f); 1821(a); 1822(c)

  CFR Citation: 12 CFR Part 330

  Legal Deadline: None

  Abstract: The FDIC revised its insurance regulations for accounts of 
   qualified tuition savings programs under section 529 of the Internal Revenue 
   Code. Qualified tuition savings programs or prepaid tuition  
   plans may be established by states or state instrumentalities under section 
   529 of the Internal Revenue Code.

  Timetable:

    [[Page 27929]]
   
   Regulatory Flexibility Analysis Required: No
   
   Small Entities Affected: No
   
   Government Levels Affected: None
   
   URL For More Information: <a href="/regulations/laws/federal/index.html">
   http://www.fdic.gov/regulations/laws/federal/index.html</a>
   
   URL For Public Comments: 
   <a href="/regulations/laws/federal/index.html">
   http://www.fdic.gov/regulations/laws/federal/index.html </a>
   Agency Contact: Christopher L. Hencke, Counsel, Legal Division, Federal 
   Deposit Insurance Corporation, Washington, DC 20429
   Phone: 202 898-8839

  RIN: 3064-AC90
   _______________________________________________________________________
   

  3979.  ANNUAL INDEPENDENT AUDITS AND REPORTING REQUIREMENTS

  Priority: Substantive, Nonsignificant

  Legal Authority: 12 USC 1831m

  CFR Citation: 12 CFR 363

  Legal Deadline: None

  Abstract: The FDIC is proposing to amend its regulations concerning 
   annual independent audits and reporting requirements, which implement 
   Section 36 of the Federal Deposit Insurance Act (FDI Act). Section 36 and 
   the FDIC's implementing regulations are generally intended to facilitate 
   early identification of problems in financial management at insured 
   depository institutions with total assets above a certain  
   threshold (currently $500 million) through annual independent audits, 
   assessments of effectiveness of internal control over financial reporting 
   and compliance with designated laws and regulations, and  
   related reporting requirements.

  Timetable:
 

    Regulatory Flexibility Analysis Required: No

  Small Entities Affected: No

  Government Levels Affected: None

  URL For More Information: 
   <a href="/regulations/laws/federal/propose.html">
   http://www.fdic.gov/regulations/laws/federal/propose.html</a>
   

  URL For Public Comments: 
   <a href="/regulations/laws/federal/2005/05comaudits.html">
   http://www.fdic.gov/regulations/laws/federal/2005/05comaudits.html </a>
   

  Agency Contact: Michelle Borzillo, Counsel, Legal Division, Federal 
   Deposit Insurance Corporation, NW, Washington, DC 20429
   Phone: 202 898-7400

  RIN: 3064-AC91
   _______________________________________________________________________

Federal Deposit Insurance Corporation (FDIC) - Long-Term Actions

  _______________________________________________________________________

  3980. ASSESSMENTS--ASSESSMENT BASE

  Priority: Other Significant. Major status under 5 USC 801 is 
   undetermined.

  CFR Citation: 12 CFR 327

  Timetable
   

    Regulatory Flexibility Analysis Required: Undetermined

  Government Levels Affected: None

  Agency Contact: Munsell St. Clair
   Phone: 202 898-8967

  RIN: 3064-AB46
   _______________________________________________________________________
   

  3981. QUALIFICATION REQUIREMENTS FOR THE RECOMMENDATION OR SALE OF 
   CERTAIN SECURITIES

  Priority: Substantive, Nonsignificant

  CFR Citation: 12 CFR 342

  Timetable:
   
 

    Regulatory Flexibility Analysis Required: No

  Small Entities Affected: No

  Government Levels Affected: None

  Agency Contact: Michael Phillips
   Phone: 202 898-3581

  Related RIN: Related to 3064-AC42

  RIN: 3064-AB85

  ______________________________________________________________________

  3982. FAIR CREDIT REPORTING ACT REGULATIONS

  Priority: Other Significant. Major status under 5 USC 801 is 
   undetermined.

  CFR Citation: 12 CFR 334

  Timetable:
   
 

    Regulatory Flexibility Analysis Required: No

  [[Page 65608]]

  Government Levels Affected: None

  Agency Contact: Richard M. Schwartz
   Phone: 202 898-7424

  RIN: 3064-AC35

  _______________________________________________________________________

  3983. RISK-BASED CAPITAL GUIDELINES: MARKET RISK MEASURE; SECURITIES 
   BORROWING TRANSACTIONS

  Priority: Other Significant. Major status under 5 USC 801 is 
   undetermined.

  CFR Citation: 12 CFR 325

  Timetable:

    Regulatory Flexibility Analysis Required: No

  Small Entities Affected: No

  Government Levels Affected: None

  Agency Contact: Richard M. Schwartz
   Phone: 202 898-7424

  RIN: 3064-AC46

  _______________________________________________________________________

  3984. RISK-BASED CAPITAL STANDARDS: IMPLEMENTATION OF NEW BASEL CAPITAL
   
   ACCORD

  Priority: Other Significant. Major under 5 USC 801.

  CFR Citation: 12 CFR 325

  Timetable::
 

    Regulatory Flexibility Analysis Required: No

  Small Entities Affected: No

  Government Levels Affected: None

  Agency Contact: Michael Phillips
   Phone: 202 898-3581

  RIN: 3064-AC73
   
   _______________________________________________________________________

  Federal Deposit Insurance Corporation (FDIC) -  Completed Actions

  _______________________________________________________________________
   

  3985. COMMUNITY REINVESTMENT ACT REGULATIONS (COMPLETION OF A SECTION 610 
   REVIEW)

  Priority: Other Significant

  Legal Authority: 12 USC 2901

  CFR Citation: 12 CFR 345

  Legal Deadline: None

  Abstract: This notice, sponsored jointly by OCC, FRB, FDIC, and OTS, 
   advises the public that the agencies are seeking comment on a wide range of 
   questions relating to Community Reinvestment Act (CRA) regulations and 
   solicits suggestions about ways to improve existing CRA regulations.

  Timetable:

    Regulatory Flexibility Analysis Required: No

  Small Entities Affected: No

  Government Levels Affected: None

  URL For More Information: 
   <a href="/regulations/laws/federal/propose.html">
   http://www.fdic.gov/regulations/laws/federal/propose.html</a>
   

  URL For Public Comments: 
   <a href="/regulations/laws/federal/04comcra2.html">
   http://www.fdic.gov/regulations/laws/federal/04comcra2.html </a>
   

  Agency Contact: Richard M. Schwartz, Counsel, Federal Deposit Insurance 
   Corporation, 550 17th Street NW, MB-3101, Washington, DC 20429
   Phone: 202 898-7424

  RIN: 3064-AC50
   _______________________________________________________________________
   

  3986. SECURITIES OF NONMEMBER INSURED BANKS

  Priority: Other Significant

  Legal Authority: 12 USC 1819; 15 USC 78l(i); 15 USC 78(m); 15 USC 78(n); 
   15 USC 78(p); 15 USC 78(w); 15 USC 7241 to 7244; 15 USC 7261; 15 USC 7262; 
   15 USC 7264; 15 USC 7265

  CFR Citation: 12 CFR 335

  Legal Deadline: None

  Abstract: FDIC is revising its securities disclosure regulations 
   applicable to State nonmember banks with securities required to be 
   registered under section 12 of the Securities Exchange Act of 1934.

  Timetable:

    Regulatory Flexibility Analysis Required: No

  Small Entities Affected: No

  Government Levels Affected: None

  Agency Contact: Mark Flanigan, Federal Deposit Insurance Corporation, 
   Washington, DC 20429
   Phone: 202 898-7426

  RIN: 3064-AC88
   _______________________________________________________________________
   

  3987. COMMUNITY REINVESTMENT ACT REGULATIONS

  Priority: Economically Significant

  Legal Authority: 12 USC 1814 to 1817; 12 USC 1819 to 1820; 12 USC 1828; 
   12 USC 1831u; 12 USC 2901 to 2907; 12 USC 3103; 12 USC 3104; 12 USC 3108(a); 
   . . .

  CFR Citation: 12 CFR 345

  Legal Deadline: None

  Abstract: OCC, FRB, and FDIC are issuing this notice of proposed 
   rulemaking that would revise certain provisions of our rules implementing 
   the Community Reinvestment Act.

  [[Page 65609]]

  Timetable:
   
 

 Regulatory Flexibility Analysis Required: No

  Small Entities Affected: No

  Government Levels Affected: None

  URL For More Information: 
   <a href="/regulations/laws/federal/index.html">
   http://www.fdic.gov/regulations/laws/federal/index.html </a>
   

  URL For Public Comments: 
   <a href="/regulations/laws/federal/index.html">
   http://www.fdic.gov/regulations/laws/federal/index.html </a>
   

  Agency Contact: Richard M. Schwartz, Counsel, Federal Deposit Insurance 
   Corporation, 550 17th Street NW, MB-3101, Washington, DC 20429
   Phone: 202 898-7424

  RIN: 3064-AC89