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Inactive Financial Institution Letters
July 12, 1996
|TO:|| CHIEF EXECUTIVE OFFICER
|SUBJECT:|| Proposed Revision to Rule on
Securities of Nonmember Insured Banks
(Part 335 of the FDIC's Rules and Regulations)
| The FDIC Board of Directors is seeking comment on its proposed
revision to the Corporation's rule on securities of nonmember
insured banks (Part 335 of the FDIC's rules and regulations).
Written comments, including supporting analysis and data,
are due by September 26, 1996.
As proposed, the revised regulation would incorporate by cross reference the comparable rules of the Securities and Exchange Commission (SEC), rather than continue to maintain the separate, but substantially similar, body of rules now contained in Part 335. The FDIC believes this change would be an effective way to assure that FDIC securities disclosure requirements for banks with a class of securities registered under Section 12 of the Securities Exchange Act of 1934 (Exchange Act) remain substantially similar to those of the SEC.
Comments are invited on all aspects of the proposed rule,
Copies of Exchange Act forms (except FDIC Beneficial Ownership Report Forms F-7, F-8 and F-8A) may be obtained by writing to the SEC, 450 Fifth Street, NW, Washington, D.C. 20549. The SEC's general Exchange Act rules and regulations concerning these forms are codified at 17 CFR Part 240. The SEC's rules and regulations may be obtained by writing the Superintendent of Documents, Government Printing Office, Washington, D.C. 20402-0325 or by contacting various commercial reference services.
Attached is a copy of the FDIC's proposed rule, published in the Federal Register on June 28, 1996. Written comments should be mailed to the Office of the Executive Secretary, Federal Deposit Insurance Corporation, 550 17th Street, N.W., Washington, D.C. 20429.
For further information, please contact Lawrence H. Pierce (202-898-8902) or M. Eric Dohm (202-898-8921) in the Division of Supervision, or Gerald J. Gervino (202-898-3723) in the Legal Division.
Distribution: Selected FDIC-Supervised Banks
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