April 24, 2000 (Volume 65, Number 79)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID: f:ua000452.wais]
[Page 23847-23855]
Federal Deposit Insurance Corporation
[[Page 23847]]
Part LII
_______________________________________________________________________
Semiannual Regulatory Agenda
[[Page 23848]]
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 (the FDIC) is
hereby publishing items for the April 2000 Regulatory Agenda. 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 both the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.) and the FDIC statement of policy
entitled ``Development and Review of FDIC Rules and Regulations.'' 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.
A number of the actions identified in this agenda have been
developed following regulatory reviews required by the Gramm-Leach-
Bliley Act, or to implement other recent statutory mandates. Many
of the FDIC's regulatory actions are coordinated with other Federal
regulators of financial institutions, primarily the Office of the
Comptroller of the Currency (OCC), the Board of Governors of the
Federal Reserve System (FRS), and the Office of Thrift Supervision
(OTS). In some cases, the FDIC also coordinates with the National
Credit Union Administration (NCUA).
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--Proposed Rule Stage
|
|
Sequence
Identification
Number
|
Title
|
Regulation Number |
|
4156 |
12 CFR 325 Capital Maintenance -- Recourse Arrangements and Direct Credit Substitutes |
3064-AB31 |
4157 |
12 CFR 308 Program Fraud Civil Remedies |
3064-AB41 |
4158 |
12 CFR 307 Notification of Assumption of Deposits and Change of Insured Status |
3064-AB88 |
4159 |
12 CFR 360 Receivership Rules |
3064-AB92 |
4160 |
12 CFR 325 Risk-Based Capital Standards: Claims on Securities Firms |
3064-AC17 |
4161 |
12 CFR 366 Contractor Conflict of Interest |
3064-AC29 |
4162 |
CRA Sunshine |
3064-AC33 |
4163 |
12 CFR 325 Retained Interests |
3064-AC34 |
4164 |
Fair Credit Reporting Act Regulations |
3064-AC35 |
4165 |
12 CFR 369 Prohibition Against Use of Interstate Branches Primarily For Deposit Production |
3064-AC36 |
4166 |
Retail Sales of Insurance Products |
3064-AC37 |
Federal Deposit Insurance Corporation--Final Rule Stage
|
|
Sequence
Identification
Number
|
Title
|
Regulation Number |
|
4167 |
12 CFR 325 Capital Maintenance -- Collateralized Transactions |
3064-AB78 |
4168 |
12 CFR 342 Qualification Requirements for the Recommendation or Sale of Certain Securities |
3064-AB85 |
4169 |
12 CFR 328 Advertisement of Membership |
3064-AB99 |
4170 |
12 CFR 362 Activities of Insured State Banks and Insured Savings Associations |
3064-AC20 |
4171 |
12 CFR 361 Minority and Women Outreach Program--Contracting |
3064-AC21 |
4172 |
12 CFR 360 Treatment by the FDIC as Conservator or Receiver of Financial Assets Transferred by an Insured Depository Institution in Connection With a Securitization or Participation |
3064-AC28 |
4173 |
12 CFR 332 Privacy of Consumer Financial Information |
3064-AC32 |
4174 |
12 CFR 362 Activities of Insured State Banks and Insured Savings Associations |
3064-AC38 |
[[Page 23849]]
Federal Deposit Insurance Corporation--Long-Term Actions
|
|
Sequence
Identification
Number
|
Title
|
Regulation Number |
|
4175 |
12 CFR 308 Censure, Suspension, and Debarment of Independent Public Accountants |
3064-AA64 |
4176 |
12 CFR 327 Assessments -- Assessment Base |
3064-AB46 |
Federal Deposit Insurance Corporation--Completed Actions
|
|
Sequence
Identification
Number
|
Title
|
Regulation Number |
|
4177 |
12 CFR 340 Restrictions on Sale of Assets by the FDIC |
3064-AB37 |
4178 |
12 CFR 343 Insured State Nonmember Banks Which Are Municipal Securities Dealers |
3064-AC04 |
4179 |
12 CFR 339 Loans in Areas Having Special Flood Hazards |
3064-AC24 |
4180 |
12 CFR 308 Technical Amendments to FDIC Regulations Relating to Rules of Practice and Procedure and Deposit Insurance Coverage |
3064-AC30 |
4181 |
12 CFR 327 Assessments |
3064-AC31 |
_______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Proposed Rule Stage
_______________________________________________________________________
4156. CAPITAL MAINTENANCE -- RECOURSE ARRANGEMENTS AND DIRECT CREDIT
SUBSTITUTES
Priority: Substantive, Non-significant
Legal Authority: 12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC
1818(a); 12 USC 1818(b); 12 USC 1818(c); 12 USC 1818(t); 12 USC
1819(Tenth); 12 USC 1828(d); 12 USC 1828(i); 12 USC 1828(n); 12 USC
1828(o); 12 USC 1831o; 12 USC 3907; 12 USC 3909; 12 USC 1835; 12 USC
4808; 12 USC 1828(c); PL 102-233; 105 Stat 1761; 105 Stat 1789; 105
Stat 1790; 105 Stat 2236
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, the
FDIC, and the OTS. The rulemaking revises risk-based capital standards
by addressing the regulatory capital treatment of recourse obligations
and direct credit substitutes that expose banks, bank holding
companies, and thrifts to credit risk. The revision treats recourse
obligations and direct credit substitutes more consistently than under
the agencies' current risk-based capital standards. In addition, the
revision allows the agencies to use credit ratings and certain
alternative approaches to match the risk-based capital requirement more
closely to a banking organization's relative risk of loss in asset
securitizations. The rulemaking also requires the sponsor of a
revolving credit securitization that involves an early amortization
feature to hold capital against the amount of assets under management,
i.e., the off balance sheet securitized receivables. The rulemaking is
intended to result in more consistent treatment of recourse obligations
and similar transactions among the agencies, more consistent risk-based
capital treatment for certain types of transactions involving similar
risk, and capital requirements that more closely reflect a banking
organization's relative exposure to credit risk.
Timetable:
________________________________________________________________________
Credit Ratings ANPRM 05/25/94 (59 FR 27116)
Recourse/Direct Credit Substitutes NPRM 05/25/94 (59 FR 27116) Second
NPRM 03/08/00 (65 FR 12360) Second NPRM Comment Period End 06/00/00
Synthesis of Credit Ratings/Recourse/Direct Credit Substitutes NPRM
11/05/97 (62 FR 59944)
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Robert F. Storch, Chief, Accounting Section, Division
of Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-8906
RIN: 3064-AB31
_______________________________________________________________________
4157. PROGRAM FRAUD CIVIL REMEDIES
Priority: Substantive, Non-significant
Legal Authority: 5 USC 504; 5 USC 554-557; 12 USC 93(b); 12 USC 164; 12
USC 505; 12 USC 1817; 12 USC 1818; 12 USC 1820; 12 USC 1828; 12 USC
1829; 12 USC 1829b; 12 USC 1831o; 12 USC 1832(c); 12 USC 1884(b); 12
USC 1972; 12 USC 3102; 12 USC 3108(a); 12 USC 3349; 12 USC 3909; 12 USC
4717; 15 USC 78(h); 15 USC 78(i); 31 USC 330; 42 USC 4012a; PL 104-134
CFR Citation: 12 CFR 308
Legal Deadline: None
Abstract: The Program Fraud Civil Remedies Act (PFCRA) requires
specified Federal agencies to follow certain procedures to recover
penalties and assessments against persons who file false claims and
statements. The Resolution Trust Corporation Completion Act of 1993
subjects the FDIC to the requirements of the PFCRA. An interagency task
force was established by the President's Council on Integrity and
Efficiency to develop model regulations for implementing the PFCRA.
This regulatory action adopts, with minor variations, the model
[[Page 23850]]
regulations set forth by the Council's task force.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
05/00/00 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Michelle Borzillo, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC, 20429
Phone: 202 898-7400
RIN: 3064-AB41
_______________________________________________________________________
4158. NOTIFICATION OF ASSUMPTION OF DEPOSITS AND CHANGE OF INSURED
STATUS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1818; 12 USC 1819
CFR Citation: 12 CFR 307
Legal Deadline: None
Abstract: This rulemaking clarifies reporting and disclosure
requirements already applicable to insured depository institutions. Due
to comments received, a second NPRM on this subject will be issued
rather than finalizing the rule proposed in May 1997.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
05/14/97 |
62 FR 26431 |
NPRM Comment Period End |
07/14/97 |
|
Second NPRM |
08/00/00 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Rodney D. Ray, Counsel, Legal Division, Federal Deposit
Insurance Corporation, Washington, DC 20429
Phone: 202 898-3556
RIN: 3064-AB88
_______________________________________________________________________
4159. RECEIVERSHIP RULES
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1819 to 1821
CFR Citation: 12 CFR 360
Legal Deadline: None
Abstract: This rulemaking establishes uniform rules governing the
payment and priority of post-insolvency interest payments from all
receiverships administered by the FDIC and makes other technical and
clarifying changes to part 360.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
08/00/00 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Mitchell Glassman, Director, Division of Resolutions
and Receiverships, Federal Deposit Insurance Corporation, Washington,
DC 20429
Phone: 202 898-6525
RIN: 3064-AB92
_______________________________________________________________________
4160. RISK-BASED CAPITAL STANDARDS: CLAIMS ON SECURITIES FIRMS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC
1818(a); 12 USC 1818(b); 12 USC 1818(c); 12 USC 1818(t); 12 USC 1819
(Tenth); 12 USC 1828(c); 12 USC 1828(d); 12 USC 1828(i); 12 USC
1828(n); 12 USC 1828(o); 12 USC 1831o; 12 USC 1835
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, the
FDIC and OTS. This interim rule revises the FDIC's risk-based capital
standards set forth in the Basle Accord. This revision permits claims
on certain securities firms to receive the same preferential risk-
weighting that is applied to claims on banks.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
12/00/00 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Stephen G. Pfeifer, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-8904
RIN: 3064-AC17
_______________________________________________________________________
4161. CONTRACTOR CONFLICT OF INTEREST
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1819; 12 USC 1822(f)(3); 12 USC 1822(f)(4)
CFR Citation: 12 CFR 366
Legal Deadline: None
Abstract: This rulemaking clarifies that Part 366 does not pertain to
FDIC contractors who intend to purchase assets from the FDIC. Conflicts
of interest regarding contractors that intend to purchase assets from
the FDIC will be covered by an FDIC circular regarding the sale of
assets to restricted contractors.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
09/00/00 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Richard M. Handy, Assistant Executive Secretary
(Ethics), Office of the Executive Secretary, Federal Deposit Insurance
Corporation, Washington, DC 20429
Phone: 202 898-7271
RIN: 3064-AC29
_______________________________________________________________________
4162. CRA SUNSHINE
Priority: Substantive, Nonsignificant
Legal Authority: PL 106-102
CFR Citation: Not Yet Determined
Legal Deadline: None
Abstract: This rulemaking implements the requirements of Section 711 of
the Gramm-Leach-Bliley Act. Section 711 requires an insured depository
institution to disclose any agreement with non-governmental entities in
connection with the CRA, if the agreement involves a grant of more than
$10,000 or a loan of more than $50,000 to the community group annually.
In addition, annual reports must be made by the depository institutions
and the non-governmental entities to the appropriate federal banking
agency of the institutions containing information about the payments,
loans, and fees paid under
[[Page 23851]]
the agreement, and how the non-governmental entity used the funds.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
05/00/00 |
|
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Deanna Caldwell, Community Affairs Officer, Division of
Compliance and Consumer Affairs, Federal Deposit Insurance Corporation
Phone: 202 736-0141
RIN: 3064-AC33
_______________________________________________________________________
4163. RETAINED INTERESTS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1815(a)
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: This interagency rulemaking amends capital rules to provide
that the value of certain retained interests in securitizations not
supported by a readily available market quote would be deducted from
Tier 1 capital for regulatory capital purposes.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
05/00/00 |
|
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Keith Ligon, Chief, Policy Unit, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-3618
RIN: 3064-AC34
_______________________________________________________________________
4164. FAIR CREDIT REPORTING ACT REGULATIONS
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 1681-1681u; PL 104-208; 110 Stat 3009; PL 106-
102; 15 USC 6806
CFR Citation: Not Yet Determined
Legal Deadline: None
Abstract: Section 506 of the Gramm-Leach-Bliley Act restored the
authority of the federal banking agencies to examine banks and thrifts
for compliance with the Fair Credit Reporting Act without the
requirement that an agency first have a complaint or other knowledge of
a violation. Section 506 also requires the federal banking agencies to
jointly prescribe regulations necessary to carry out the purposes of
the FCRA, with respect to financial institutions within their
jurisdiction. This rulemaking implements that requirement.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
05/00/00 |
|
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Deanna Caldwell, Community Affairs Officer, Division of
Compliance and Consumer Affairs, Federal Deposit Insurance Corporation
Phone: 202 736-0141
RIN: 3064-AC35
_______________________________________________________________________
4165. PROHIBITION AGAINST USE OF INTERSTATE BRANCHES PRIMARILY
FOR DEPOSIT PRODUCTION
Priority: Substantive, Nonsignificant
Legal Authority: PL 106-102
CFR Citation: 12 CFR 369
Legal Deadline: None
Abstract: The rulemaking implements Section 106 of the Gramm-Leach-
Bliley Act, which amends the Riegle-Neal Interstate Banking and
Branching Efficiency Act of 1994 to provide that any branch of a bank
controlled by an out-of-state bank holding company is considered to be
an interstate branch for purposes of Riegle-Neal.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
09/00/00 |
|
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Steve Fritts, Associate Director, Division of
Compliance and Consumer Affairs, Federal Deposit Insurance Corporation
Phone: 202 942-3454
RIN: 3064-AC36
_______________________________________________________________________
4166. RETAIL SALES OF INSURANCE PRODUCTS
Priority: Substantive, Nonsignificant
Legal Authority: PL 106-102
CFR Citation: Not Yet Determined
Legal Deadline: None
Abstract: The rulemaking implements Section 305 of the Gramm-Leach-
Bliley Act of 1999, which requires regulations governing retail sales
of insurance products by depository institutions (and subsidiaries)
including anti-tying and anti-coercion rules, and mandatory disclosures.
In addition, the joint rulemaking establishes a consumer grievance
process.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
06/00/00 |
|
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Keith Ligon, Chief, Policy Unit, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-3618
RIN: 3064-AC37
[[Page 23852]]
_______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Final Rule Stage
_______________________________________________________________________
4167. CAPITAL MAINTENANCE -- COLLATERALIZED TRANSACTIONS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1815; 12 USC 1816; 12 USC 1818; 12 USC 1819; 12
USC 1828; 12 USC 1831; 12 USC 3907; 12 USC 3909; 12 USC 4808; PL 102-
233; PL 102-242
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: This rule was developed in consultation with the OCC, the
FRS, and the OTS (Agencies). It amends FDIC's risk-based capital
standards to make the standards uniform with the Agencies' treatments
for transactions supported by collateral. The effect of the proposal is
to allow banks to hold less capital for certain transactions
collateralized by cash or qualifying securities.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
08/16/96 |
61 FR 42565 |
NPRM Comment Period End |
10/15/96 |
|
Final Action |
07/00/00 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Stephen G. Pfeifer, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-8904
RIN: 3064-AB78
_______________________________________________________________________
4168. QUALIFICATION REQUIREMENTS FOR THE RECOMMENDATION OR SALE OF
CERTAIN SECURITIES
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1818; 12 USC 1831
CFR Citation: 12 CFR 342
Legal Deadline: None
Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, and
the FDIC. It establishes qualifications for those banks that sell
certain securities directly to retail customers through their employees
without having to register as a broker under the Securities Exchange
Act. More particularly, this action establishes filing requirements for
banks, and registration, testing, and continuing education requirements
for bank securities representatives consistent with the professional
qualification requirements for broker-dealers and registered
representatives under the Securities Exchange Act and rules there under,
and the rules of the securities self-regulatory organizations.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
12/30/96 |
61 FR 68824 |
NPRM Comment Period End |
02/28/97 |
|
Final Action |
10/00/00 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: William A. Stark, Assistant Director, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-6972
RIN: 3064-AB85
_______________________________________________________________________
4169. ADVERTISEMENT OF MEMBERSHIP
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1818; 12 USC 1819; 12 USC 1828
CFR Citation: 12 CFR 328
Legal Deadline: None
Abstract: This regulatory action consolidates provisions relating to
display of official signs; extends the official advertising statement
that is currently required for insured banks to all insured depository
institutions; streamlines exceptions to the use of the statement;
prohibits use of the statement in advertisements concerning nondeposit
investment products; and delegates authority to approve translations of
the statement to certain FDIC officials. In addition, this action
solicits comment on issues relating to advertisement of membership in
the FDIC over a computer network such as the Internet.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
02/11/97 |
62 FR 06142 |
NPRM Comment Period End |
04/14/97 |
|
Final Action |
09/00/00 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Marc J. Goldstrom, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-8807
RIN: 3064-AB99
_______________________________________________________________________
4170. 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 adds 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 requires that
insured State nonmember banks file a notice before commencing any
activities permissible for the parent national bank itself.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
12/01/98 |
63 FR 66339 |
NPRM Comment Period End |
02/01/99 |
|
Final Action |
10/00/00 |
|
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
_______________________________________________________________________
4171. MINORITY AND WOMEN OUTREACH PROGRAM--CONTRACTING
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1833e(c)
[[Page 23853]]
CFR Citation: 12 CFR 361
Legal Deadline: None
Abstract: This rulemaking utilizes the Federal Affirmative Action
Contracting Program, set forth in the Federal Acquisition Regulations,
48 CFR parts 19 and 52, providing contracting incentives to small
disadvantaged businesses. The rulemaking also amends regulations
establishing an outreach program for minority-and women-owned
businesses as well as small disadvantaged businesses.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
08/06/99 |
64 FR 42862 |
NPRM Comment Period End |
10/05/99 |
|
Final Action |
05/00/00 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Martin Blumenthal, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 736-0756
RIN: 3064-AC21
_______________________________________________________________________
4172. TREATMENT BY THE FDIC AS CONSERVATOR OR RECEIVER OF FINANCIAL
ASSETS TRANSFERRED BY AN INSURED DEPOSITORY INSTITUTION IN CONNECTION
WITH A SECURITIZATION OR PARTICIPATION
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1821(d)(1); 12 USC 1821(d)(11); 12 USC
1821(e)(1); 12 USC 1821(e)(8)(D)(1); 12 USC 1823(c)(4); 12 USC
1823(e)(2); PL 101-73
CFR Citation: 12 CFR 360
Legal Deadline: None
Abstract: This rulemaking resolves issues regarding the treatment by
the FDIC, as receiver or conservator, of financial assets transferred
by an insured depository institution in connection with a
securitization or in the form of a participation.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
09/09/99 |
64 FR 48968 |
NPRM Comment Period End |
11/08/99 |
|
Final Action |
08/00/00 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Michael Krimminger, Senior Policy Analyst, Division of
Resolution and Receiverships, Federal Deposit Insurance Corporation,
Washington, DC 20429
Phone: 202 898-8950
RIN: 3064-AC28
_______________________________________________________________________
4173. PRIVACY OF CONSUMER FINANCIAL INFORMATION
Priority: Substantive, Nonsignificant
Legal Authority: PL 106-102
CFR Citation: 12 CFR 332
Legal Deadline: Final, Statutory, May 12, 2000.
Abstract: This rulemaking is sponsored jointly by the OCC, FRS, FDIC,
and the OTS. The rulemaking implements privacy rule requirements
pursuant to section 504 of the Gramm-Leach-Bliley Act. Section 504
requires notice requirements and restrictions regarding a financial
institution's disclosures of nonpublic personal information about
consumers to nonaffiliated third parties. The rulemaking requires
financial institutions to provide their customers with a notice of
their privacy policies and practices, and prohibits institutions from
disclosing nonpublic personal information about consumers to
nonaffiliated third parties unless the institutions satisfy various
disclosure requirements and the consumer has not elected to opt out of
the disclosure.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
02/22/00 |
65 FR 8770 |
NPRM Comment Period End |
03/31/00 |
|
Final Action |
05/00/00 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: James Densmore, Regional Director, Division of
Compliance and Consumer Affairs, Federal Deposit Insurance Corporation,
Washington DC, 20429
Phone: 202 736-0106
RIN: 3064-AC32
_______________________________________________________________________
4174. ACTIVITIES OF INSURED STATE BANKS AND INSURED SAVINGS
ASSOCIATIONS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 378; 12 USC 1813; 12 USC 1815; 12 USC 1816; 12
USC 1817; 12 USC 1818; 12 USC 1820; 12 USC 1823; 12 USC 1828; 12 USC
1828a; 12 USC 1831a; 12 USC 1831e; 12 USC 1831p-1; 12 USC 1831w; 12 USC
1835a; 12 USC 3104; 12 USC 3105; 12 USC 3108; 12 USC 3207; 15 USC 1601-
1607; 12 USC 375a(4); 12 USC 375b; 12 USC 1818(a); 12 USC 1819; 12 USC
1820(d)(10); 12 USC 1821(f); 12 USC 1828(j)(2); 12 USC 1831f; 12 USC
1831f-1; 12 USC 1819(a)(Tenth); 12 USC 1828(m)
CFR Citation: 12 CFR 362; 12 CFR 303; 12 CFR 337
Legal Deadline: Final, Statutory, March 11, 2000.
Abstract: This rulemaking amends the FDIC's regulations governing
activities and investments of insured state banks to require that
notices be filed before insured state nonmember banks conduct
activities through a subsidiary if those activities must be conducted
in a financial subsidiary of a national bank. This subpart allows the
FDIC to impose standards and prudential safeguards when insured state
nonmember banks engage in activities that a national bank must conduct
in a financial subsidiary. It also requires insured state nonmember
banks to meet the mandatory CRA compliance requirement before engaging
in these activities under this subpart. In addition, this subpart
contains the required prudential separations between certain securities
affiliates and insured state nonmember banks. The rulemaking also
removes and reserves the provisions addressing, ``Securities Activities
of Subsidiaries of Insured State Banks: Bank Transactions with
Affiliated Securities Companies.'' The effect of these amendments will
be to require banks to notify the FDIC prior to conducting securities
or other activities through subsidiaries that are not permissible for
national banks directly. The rulemaking also adds certain technical
amendments to correct missing citations or incorrect cross-references
and similar matters.
Timetable:
Action
|
Date |
FR Cite |
Interim Final Rule |
03/23/00 |
65 FR 15526 |
[[Page 23854]]
Interim Final Rule Effective |
03/11/00 |
|
Interim Final Rule Comment Period End |
05/00/00 |
|
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-AC38
_______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Long-Term Actions
_______________________________________________________________________
4175. CENSURE, SUSPENSION, AND DEBARMENT OF INDEPENDENT PUBLIC
ACCOUNTANTS
Priority: Substantive, Nonsignificant
CFR Citation: 12 CFR 308
Timetable:
Action
|
Date |
FR Cite |
NPRM |
To Be Determined |
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Doris L. Marsh
Phone: 202 898-8905
RIN: 3064-AA64
_______________________________________________________________________
4176. ASSESSMENTS -- ASSESSMENT BASE
Priority: Substantive, Nonsignificant
CFR Citation: 12 CFR 327
Timetable:
Action
|
Date |
FR Cite |
ANPRM |
10/05/94 |
59 FR 50710 |
ANPRM Comment Period End |
02/02/95 |
|
NPRM |
To Be Determined |
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Frederick S. Carns
Phone: 202 898-3930
RIN: 3064-AB46
_______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Completed Actions
_______________________________________________________________________
4177. RESTRICTIONS ON SALE OF ASSETS BY THE FDIC
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1819; PL 103-204
CFR Citation: 12 CFR 340
Legal Deadline: None
Abstract: This regulatory action implements provisions in the
Resolution Trust Corporation Completion Act of 1993 that require assets
held by the FDIC in the course of liquidating federally insured
depository institutions not to be sold to persons who, in ways
specified in the Act, contributed to the demise of the institution.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
09/21/99 |
64 FR 51084 |
NPRM Comment Period End |
12/20/99 |
|
Final Action |
03/20/00 |
65 FR 14816 |
Final Action Effective |
07/01/00 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Steve Trout, Senior Asset Marketing Specialist,
Division of Resolutions and Receiverships, Federal Deposit Insurance
Corporation, Washington, DC 20429
Phone: 202 416-4231
RIN: 3064-AB37
_______________________________________________________________________
4178. INSURED STATE NONMEMBER BANKS WHICH ARE MUNICIPAL SECURITIES
DEALERS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 4803(a)
CFR Citation: 12 CFR 343
Legal Deadline: None
Abstract: This rulemaking rescinded the regulation that required
insured state nonmember banks which are municipal securities dealers to
file with the FDIC certain information about those persons who are or
seek to be associated with these dealers as municipal securities
principals or municipal securities representatives. This action was the
result of a CDRI section 303(a) review.
Timetable:
Action
|
Date |
FR Cite |
NPRM |
05/16/97 |
62 FR 26994 |
NPRM Comment Period End |
07/15/97 |
|
Final Action |
11/16/99 |
64 FR 62103 |
Final Action Effective |
12/16/99 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Keith Ligon, Chief, Policy Unit, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429
Phone: 202 898-3618
RIN: 3064-AC04
_______________________________________________________________________
4179. LOANS IN AREAS HAVING SPECIAL FLOOD HAZARDS
Priority: Substantive, Nonsignificant
Legal Authority: 42 USC 4012a; 42 USC 4104a; 42 USC 4104b; 42 USC 4106;
42 USC 4128
CFR Citation: 12 CFR 339
Legal Deadline: None
Abstract: This rulemaking makes a technical amendment to the flood
insurance regulations of the Federal banking agencies. It is necessary
due
[[Page 23855]]
to the elimination by the FEMA of reference to the Standard Flood
Hazard Determination Form from its regulations.
Timetable:
Action
|
Date |
FR Cite |
Final Action |
12/21/99 |
64 FR 71272 |
Final Action Effective |
12/21/99 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Mark A. Mellon, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-3854
RIN: 3064-AC24
_______________________________________________________________________
4180. TECHNICAL AMENDMENTS TO FDIC REGULATIONS RELATING TO RULES OF
PRACTICE AND PROCEDURE AND DEPOSIT INSURANCE COVERAGE
Priority: Substantive, Nonsignificant
Legal Authority: 5 USC 504; 5 USC 554-557; 12 USC 93(b); 12 USC 164; 12
USC 505; 12 USC 1815(e); 12 USC 1817; 12 USC 1818; 12 USC 1820; 12 USC
1828; 12 USC 1829; 12 USC 1829b; 12 USC 1831i; 12 USC 1831o; 12 USC
1831p-1; 12 USC 1832(c); 12 USC 1884(b)
CFR Citation: 12 CFR 308; 12 CFR 330
Legal Deadline: None
Abstract: This rulemaking amends various sections of the FDIC's Rules
of Practice and Procedure (12 CFR 308) governing administrative
enforcement proceedings. The amendments are generally technical in
nature and are necessary to ensure that the rules are consistent with
statutory provisions and procedural changes that have occurred since
the rules were first adopted. The FDIC also is making a conforming,
technical amendment to its deposit insurance regulations (12 CFR 330)
that was inadvertently omitted from a regulatory action effective on
April 1, 1999.
Timetable:
Action
|
Date |
FR Cite |
Final Action |
11/16/99 |
64 FR 62096 |
Final Action Effective |
11/16/99 |
|
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Andrea Winkler, Counsel, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-3764
RIN: 3064-AC30
_______________________________________________________________________
4181. ASSESSMENTS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1441; 12 USC 1441b; 12 USC 1813; 12 USC 1815;
12 USC 1817-1819; PL 104-208; 12 USC 1812
CFR Citation: 12 CFR 327
Legal Deadline: None
Abstract: This rulemaking made several changes to FDIC's regulations
governing assessments. The FDIC changed the reporting date used to
determine the capital component of the assessment risk classification
assigned to FDIC-insured depository institutions. That date moved
closer by one calendar quarter to the assessment period for which the
capital component is assigned. The FDIC also shortened from 30 days to
15 days the prior notice that the FDIC sends to institutions advising
them of their assessment risk classification for the following
semiannual assessment period. The same reduction also was applied to
the invoice sent by the FDIC each quarter showing the amount of the
assessment payment due for the next quarterly collection. At the other
end of the process, the FDIC increased from 30 days to 90 days the time
within which an institution may request review of its assessment risk
classification.
Timetable:
Action
|
Date |
FR Cite |
NPRM /td>
| 09/08/99 |
64 FR 48719 |
NPRM Comment Period End |
10/25/99 |
|
Final Action |
12/16/99 |
64 FR 70178 |
Final Action Effective |
04/01/00 |
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: James W. Thornton, Senior Banking Analyst, Division of
Insurance, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-6707
RIN: 3064-AC31
[FR Doc. 00-5321 Filed 04-21-00; 8:45 am]
BILLING CODE 6714-01-F
.