Summary of Proposed Rule Governing Activities and Investments of Insured Depository Institutions
The FDIC Board of Directors is seeking comment on its proposal to consolidate the agency's regulations governing the activities and investments of insured state banks, savings associations, and subsidiaries of state nonmember banks into a single section--Part 362 of the FDIC's rules and regulations. The proposed regulation deals with activities such as real estate investment, securities underwriting and distribution, acquiring and retaining equity securities, and insurance underwriting. Because the proposal combines three existing regulations into Part 362 and revises the content and structure of the current regulations, staff prepared charts providing a summary of the proposal's major provisions.
The charts are intended as an aid to assist readers in understanding the major provisions of the proposal. The charts should not be used as a substitute for the regulation or the preamble language explaining the scope of the regulation; however, the charts may be helpful in finding provisions of the proposal that directly affect your institution. The charts are organized into separate subparts that correspond with the structure of the proposed regulation.
For further information, please contact Christine Bradley (202-898-8951), Policy Analyst in the Office of Policy Development; John Jilovec (202-898-8958), Examination Specialist in the Division of Supervision; or Linda Stamp (202-898-7310), Counsel in the Legal Division.
Distribution: FDIC-Supervised Banks (Commercial and Savings) Insured Savings Associations; Insured State Member Banks
NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 (800-276-6003 or (703) 562-2200).