The Federal Deposit Insurance Corporation has published its semiannual agenda of regulations in the Federal Register to inform the public of the Corporation's regulatory actions and encourage participation in the rulemaking process.
Many of the actions are the result of the FDIC Board's ongoing efforts to reduce the regulatory burden on banks, simplify rules, and improve efficiency. A number of the actions also have been developed following the enactment of the financial services modernization law known as the Gramm-Leach-Bliley Act. The agenda contains 22 regulatory actions in various stages of the rulemaking process.
One such action is a final rule regarding risk-based capital guidelines issued in January 2002 jointly by the FDIC, the Federal Reserve Board (FRB), the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS). The final rule amends risk-based and leverage capital standards for banks and bank holding companies with respect to the capital treatment of equity investments in nonfinancial companies. The rule deducts from Tier 1 capital certain percentages of the adjusted carrying value of all nonfinancial equity investments. (12 CFR 325)
Another final action, published jointly in November 2001 by the FDIC, the FRB, the OCC and the OTS, changed regulatory capital standards to address the treatment of recourse obligations and direct credit substitutes that expose banking organizations to credit risk. The rule also added new capital standards for residual interests. The revised rule primarily affects institutions involved in securitization activities, and it is intended to result in more consistent risk-based capital treatment of these transactions among the four agencies. (12 CFR 325)
Attached is a copy of the Semiannual Regulatory Agenda that appeared in the May 13, 2002, Federal Register.
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 9,613 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars -- insured financial institutions fund its operations.
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FDIC press releases and other information are available on the Internet via the World Wide Web at www.fdic.gov, and may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Washington, DC 20434, telephone 800-276-6003 or (703) 562-2200, or e-mail firstname.lastname@example.org.