[Federal Register: June 16, 2003 (Volume 68, Number 115)]
[Proposed Rules]
[Page 35589-35612]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr16jn03-15]
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Office of the Comptroller of the Currency
12 CFR Chap. I
[Docket No. 03-10]
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
12 CFR Chap. II
[Docket No. R-1151]
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Chap. III
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
12 CFR Chap. V
[No. 2003-20]
Regulatory Publication and Review Under the Economic Growth and Regulatory Paperwork
Reduction Act of 1996
AGENCIES: Office of the Comptroller of the Currency (OCC), Treasury;
Board of Governors of the Federal Reserve System (Board); Federal
Deposit Insurance Corporation (FDIC); and Office of Thrift Supervision
(OTS), Treasury.
ACTION: Notice of regulatory review; request for comments.
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SUMMARY: The OCC, Board, FDIC, and OTS (``we'' or ``the Agencies'') are
beginning a review of our regulations to reduce burden imposed on
insured depository institutions, as required by section 2222 of the
Economic Growth and Regulatory Paperwork Reduction Act of 1996. We have
categorized our regulations for the purpose of the review and propose
to publish 12 categories of regulations for review between now and
2006. The categories, and the regulations that the Agencies consider to
be part of those categories, are detailed below. This review presents a
significant opportunity to consider the possibilities for burden
reduction among groups of similar regulations. We welcome comment on
the categories, the order of review, and all other aspects of the
project in order to maximize its effectiveness.
Today, we are publishing our first in a series of public releases,
comprising three of the categories--``Applications and Reporting,''
``Powers and Activities,'' and ``International Operations''--for public
comment so as to identify outdated, unnecessary, or unduly burdensome
regulatory requirements imposed on insured depository institutions.
Since we will publish a series of releases containing requests for
comment on the remaining categories, it is not recommended that burden
reduction comments be submitted now for any regulations in other
categories.
DATES: Written comments must be received no later than September 15, 2003.
ADDRESSES: Due to delays in paper mail delivery in the Washington area,
commenters may prefer to submit their comments by alternate means.
Comments should be directed to:
OCC: Public Information Room, Office of the Comptroller of the
Currency, 250 E Street, SW., Mailstop 1-5, Washington, DC 20219,
Attention: Docket No. 03-10. Comments will be available for public
inspection and photocopying at the same location. You can make an
appointment to inspect the comments by calling (202) 874-5043.
Facsimiles: Send facsimile transmissions to FAX Number (202) 874-4448.
E-mail: Send e-mails to regs.comments@occ.treas.gov.
Board: Comments should refer to Docket No. R-1151 and should be mailed
to Ms. Jennifer J. Johnson, Secretary, Board of Governors of the
Federal Reserve System, 20th Street and Constitution Avenue, NW.,
Washington, DC 20551, or mailed electronically to
regs.comments@federalreserve.gov.
Members of the public may inspect comments in Room MP-500 of the Martin Building between
9 a.m. and 5 p.m. on weekdays in accordance with the Board's Rules Regarding
Availability of Information, 12 CFR part 261.
FDIC: Mail: Written comments should be addressed to Robert E. Feldman,
Executive Secretary, Attention: Comments, Federal Deposit Insurance
Corporation, 550 17th Street, NW., Washington, DC 20429. Delivery:
Comments may be hand delivered to the guard station at the rear of the
550 17th Street Building (located on F Street) on business days between
7 a.m. and 5 p.m. You also may
[[Page 35590]]
electronically mail comments to comments@fdic.gov. Public Inspection:
Comments may be inspected and photocopied in the FDIC Public
Information Center, Room 100, 801 17th Street, NW., Washington, DC
20429, between 9 a.m. and 4:30 p.m. on business days.
OTS: Mail: Send comments to Regulation Comments, Chief Counsel's
Office, Office of Thrift Supervision, 1700 G Street, NW., Washington,
DC 20552, Attention: No.2003-20. Delivery: Hand deliver comments to the
Guard's Desk, East Lobby Entrance, 1700 G Street, NW., from 9 a.m. to 4
p.m. on business days, Attention: Regulation Comments, Chief Counsel's
Office, Attention: No. 2003-20. Facsimiles: Send facsimile
transmissions to FAX Number (202) 906--6518, Attention: No. 2003-20. E-
Mail: Send e-mails to regs.comments@ots.treas.gov, Attention: No. 2003-
20 and include your name and telephone number. Availability of
Comments: OTS will post comments and the related index on the OTS
Internet site at www.ots.treas.gov. In addition, you may inspect
comments at the Public Reading Room, 1700 G Street, NW., by
appointment. To make an appointment for access, call (202) 906-5922,
send an e-mail to public.info@ots.treas.gov, or send a facsimile
transmission to (202) 906-7755. (Please identify the material you would
like to inspect to assist us in serving you.)
FOR FURTHER INFORMATION CONTACT:
OCC: Mark Tenhundfeld, Assistant Director, Legislative and Regulatory
Activities Division, (202) 874-5090; Lee Walzer, Counsel, Legislative
and Regulatory Activities Division, (202) 874-5090, Office of the
Comptroller of the Currency, 250 E St., SW., Washington, DC 20219.
Board: Patricia A. Robinson, Senior Counsel, Legal Division, (202) 452-
3005; Michael J. O'Rourke, Counsel, Legal Division, (202) 452-3288;
David G. Adkins, Supervisory Financial Analyst, Division of Banking
Supervision and Regulation, (202) 452-5259; Federal Reserve Board, 20th
St. and Constitution Ave., NW., Washington, DC 20551.
FDIC: Claude A. Rollin, Special Assistant to the Vice Chairman, (202)
898-8741; Steven D. Fritts, Associate Director, Division of Supervision
and Consumer Protection, (202) 898-3723; Ruth R. Amberg, Senior
Counsel, Legal Division, (202) 898-3736; Thomas Nixon, Senior Attorney,
Legal Division, (202) 898-8766; Federal Deposit Insurance Corporation,
550 17th St., NW., Washington, DC 20429.
OTS: Robyn Dennis, Manager, Thrift Policy, Supervision Policy (202)
906-5751; Karen Osterloh, Special Counsel, Regulations and Legislation
Division, Chief Counsel's Office, (202) 906-6639; Office of Thrift
Supervision, 1700 G Street, NW., Washington, DC 20552.
SUPPLEMENTARY INFORMATION:
I. Introduction
Congress enacted section 2222 of the Economic Growth and Regulatory
Paperwork Reduction Act of 1996 (Pub. L. 104-208, Sept. 30, 1996)
(EGRPRA), as part of an effort to minimize unnecessary government
regulation consistent with safety and soundness, consumer protection,
and other public policy goals. Under section 2222, 12 U.S.C. 3311, the
Agencies,\1\ jointly or individually, must categorize regulations by
type, such as ``consumer regulations'' or ``safety and soundness''
regulations. Once we have established the categories, we must provide
notice and ask for public comment on them. In particular, section 2222
requires that we ask the public to identify areas of the regulations
that are outdated, unnecessary, or unduly burdensome. The Agencies must
issue these publications for comment at regular intervals such that all
of the Agencies' categories of regulations are published for such
comment within a 10 year cycle. The first publication cycle will end in
September 2006. The EGRPRA review supplements and complements the
reviews of regulations that the Agencies conduct under other laws and
their internal policies.
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\1\ The National Credit Union Administration (NCUA) has
participated in the EGRPRA planning process and will separately
issue a request for comment. Since the Federal Financial
Institutions Examination Council (FFIEC) has not issued regulations
that impose burden on insured institutions, we have not separately
captioned the FFIEC in this notice.
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Section 2222 requires a two-part regulatory response. First, the
Agencies must publish in the Federal Register a summary of the comments
received, identifying the significant issues raised and discussing
those issues. Second, the Agencies must ``eliminate unnecessary
regulations to the extent that such action is appropriate.'' The
Agencies may prepare the regulatory response individually or jointly.
Section 2222 further requires the FFIEC to submit a report to the
Congress within 30 days after the Agencies publish the comment summary
and discussion in the Federal Register. This report must summarize any
significant issues raised by the public comments and the relative
merits of those issues. The report also must analyze whether the
appropriate Federal banking agency involved is able to address the
regulatory burdens associated with the issues by regulation, or whether
the burdens must be addressed by legislation.
II. The EGRPRA Review's Special Focus
The regulatory review required by section 2222 provides a
significant opportunity for the public and the Agencies to step back
and look at groups of related regulations and identify possibilities
for streamlining. The EGRPRA review's overall focus on the `forest' of
regulations will, we hope, offer a new perspective in identifying
opportunities to reduce regulatory burden. Of course, reducing
regulatory burden must be consistent with ensuring the continued safety
and soundness of insured depository institutions and appropriate
consumer protections.
EGRPRA also recognizes that burden reduction must be consistent
with our statutory mandates, many of which currently require certain
regulations. One of the significant aspects of the EGRPRA review
program is the recognition that effective burden reduction in certain
areas may require legislative change. We will be soliciting comment on,
and reviewing the comments and regulations carefully for, the
relationship among burden reduction, regulatory requirements, and
statutory mandates. This will be a key aspect of the FFIEC report to
the Congress.\2\
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\2\ Institutions are also subject to regulations issued by other
non-banking agencies, such as rules issued by the Department of
Housing and Urban Development (under Real Estate Settlement
Procedures Act of 1974) and by the Department of the Treasury (under
the Bank Secrecy Act including rules required by the USA PATRIOT
Act). The rules of these other agencies are beyond the scope of the
EGRPRA review and the Agencies' jurisdictions. To the extent the
Agencies receive comments raising significant issues regarding these
related rules, however, we intend to identify the issues in the
Report to Congress and will also notify the related agencies of the
substance of the relevant comments.
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The combination of considering the relationship of regulatory and
statutory change on regulatory burden with the section 2222 requirement
for grouping regulations by type provides the possibility for
particularly effective burden reduction. It may be possible to identify
statutes and regulations that share similar goals or complementary
methods such that the regulatory requirements could be combined and
overlapping requirements could be
[[Page 35591]]
eliminated. For example, it may be possible to combine certain types of
applications to eliminate duplication.
The EGRPRA review will complement the review to reduce burden and
to increase uniformity of regulations among the Agencies, pursuant to
section 303 of the Riegle Community Development and Regulatory
Improvement Act of 1994 (Pub. L. 103-325, Sept. 23, 1994, 12 U.S.C.
4803) (CDRI). The Agencies' section 2222 review will continue to try to
eliminate inconsistencies among their regulations, although complete
uniformity is not possible in light of differences in the types of
regulated entities and the statutes that apply to them.
The EGRPRA review can also significantly contribute to the
Agencies' ongoing efforts to reduce regulatory burden. For example,
since 1979, a formally adopted Federal Reserve policy has required the
Board to review each of its regulations at least once every five years
with a view toward eliminating, simplifying, or otherwise easing the
burden of each regulation.\3\ The FDIC has a similar requirement,
described in its policy ``Development and Review of FDIC Regulations
and Policies.'' \4\ See also: FDIC Chairman Powell's initiative
``Reducing Regulatory Burden'' at http://www.fdic.gov. Under OCC
policy in effect since the OCC undertook a comprehensive review of all
of its regulations to reduce regulatory burden in the mid-1990s, the
agency's regulation-writing process has sought to eliminate
``regulatory requirements that are not necessary to ensure the safety
and soundness of national banks, to support consumers' access to
financial services, or to accomplish other aspects of the OCC's
regulatory mission.'' \5\ See also, ``Remarks by John D. Hawke, Jr.,
Comptroller of the Currency, Before the Independent Community Bankers
of America, Orlando, Florida, March 4, 2003'' at http://www.occ.treas.gov/ftp/release/2003-17a.pdf.
Since the early 1990s OTS
has worked to reduce regulatory burden through various regulatory
review projects as well as Thrift Financial Report changes and
revisions to Applications forms. OTS strives to produce risk-focused,
efficient, and proactive regulations. OTS also, whenever possible,
tailors its regulations to risks posed by particular institutions and
writes its regulations and guidance in plain language.
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\3\ Board Statement of Policy Regarding Expanded Rulemaking
Procedures, 44 FR 3957, Jan. 19, 1979.
\4\ FDIC Law, Regulations and Related Acts, pp. 5057-5058.
\5\ OCC Bulletin 97-8 (January 7, 1997). Moreover, the OCC
recognizes that a ``one-size-fits-all'' approach to regulation can
be ineffective and burdensome, and tailors its regulations
accordingly, taking into account factors such as the size of an
institution. Id.
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Further, the Agencies address the issue of regulatory burden every
time they propose and adopt a rule. Under the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.), the Regulatory Flexibility Act (5
U.S.C. 601 et seq.) and internal agency policies, the Agencies examine
each rulemaking to minimize the burdens it might impose on the industry
and consider various alternatives.\6\
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\6\ The OCC and OTS also review regulations pursuant to
Executive Order 12866 and the Unfunded Mandates Reform Act of 1995
(Pub. L. 104-4).
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The Agencies also will use both the EGRPRA review and the
individual reviews to identify and reduce burdens on small
institutions. More than half of insured depository institutions are
small--having $150 million in assets or less--as defined by the Small
Business Administration. We are particularly concerned about burden on
small institutions. When a new regulation is created or an old
regulation is changed, small institutions must devote a large
percentage of their staffs' time to review the regulation to determine
if and how it will affect them. Compliance with a regulation also can
take large amounts of time that cannot be devoted to serving customers
or business planning. In a large institution, ensuring regulatory
compliance can take many more hours; however, those hours make up a
much smaller percentage of the institution's resources. In situations
where a regulation is aimed at an activity engaged in primarily by
large institutions, the compliance burden on small institutions can
outweigh its benefit.
Section 610 of the Regulatory Flexibility Act imposes a continuing
requirement on agencies to review regulations that may have a
significant economic impact on a substantial number of small entities,
within 10 years after a final rulemaking is published. Although not all
of the Agencies' rules must be reviewed pursuant to section 610, the
Agencies are undertaking to review rules to the extent possible under
the section 610 review criteria because of the importance of burden
reduction to the many small institutions we regulate.
III. The Agencies' Proposed Plan
The Agencies must categorize their regulations by type. Section
2222 gives us authority to determine categories, and suggests two
possible categories: ``consumer regulations'' and ``safety and
soundness.'' The Agencies have regulations on more than 100 subjects
covering a wide variety of topics from capital maintenance to the
privacy of consumer financial information. Some of these regulations
have been issued jointly and are as uniform as possible. Others were
issued separately by the Agencies but implement common statutes or
policies. These rules are listed as interagency rules to facilitate
comparisons. Some regulations are issued by a single agency but are
applicable to all types of insured institutions, such as the Board's
Equal Credit Opportunity regulation or the FDIC's Deposit Insurance
regulation. Other regulations are issued by a single agency and have
more limited applicability. These rules are listed under the name of
the issuing agency.
The Agencies propose to seek public comment on 12 categories of
their regulations that impose burden on insured institutions between
now and 2006.\7\ The categories, in alphabetical order, are:
Applications and Reporting; Banking Operations; Capital; Community
Reinvestment Act; Consumer Protection; Directors, Officers and
Employees; International Operations; Money Laundering; Powers and
Activities; Rules of Procedure; Safety and Soundness; and Securities.
We believe that these categories are logical groupings that are not so
broad that the number of regulations presented in any one category
would overwhelm potential commenters. The categories also reflect
recognized areas of industry interest and specialization, or are
particularly critical to the health of the banking system. We recognize
that our regulations could be categorized in other ways and welcome
recommendations about the categories and the regulations placed within
them.
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7\\ Consistent with section 2222's focus on reducing burden on
insured institutions, the Agencies' EGRPRA review will not involve
their internal organizational or operational regulations to the
extent that those regulations impose no, or minimal, burden on
insured institutions.
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Although joint publication is not required by section 2222, the
Agencies believe that joint publication of the regulation categories
for public comment will be the most effective method for achieving
EGRPRA's burden reduction goals. Joint publication and review also will
help maintain the uniformity of regulations among the Agencies where
possible. We are publishing three categories of rules for burden
reduction comment today and plan to publish the remaining nine
categories in roughly semiannual intervals, with 90-day comment periods
for categories under review, throughout
[[Page 35592]]
the review period. We welcome recommendations on grouping the remaining
categories and the order in which to publish them.
After the conclusion of the comment period for each EGRPRA review
notice published in the Federal Register, the Agencies will review the
comments we have received and decide whether further action is
appropriate with respect to the categories of regulations included in
that notice. That decision will be made by the Agencies jointly in the
case of rules that we have issued jointly. Any rulemaking to amend or
revise those rules would similarly be undertaken jointly and the public
will be provided with an opportunity to comment on any proposed
amendment. This interagency rulemaking process will not, however,
include rules issued by only one agency. Comments that address specific
provisions of such a regulation will be carefully reviewed and
incorporated in the detailed review of the relevant regulation
conducted by the agency issuing the rule. Each agency will separately
determine whether amendments to its own rules are appropriate in light
of comments submitted during the EGRPRA review and, if so, will
separately initiate rulemakings to modify its rules. Consistent with
the spirit of CDRI, however, where individual agency rules implement
common statutory or supervisory policies, the Agencies will work
jointly to achieve uniformity.
The Agencies have prepared three charts to assist public
understanding of the organization of our section 2222 review. Chart A
presents the three categories of regulations about which we are
requesting burden reduction recommendations starting today. Chart B
identifies regulations affecting United States (U.S.) branches,
agencies, and representative offices of foreign banks, while Chart C
presents the remaining nine categories on which we will seek comment.
The categories in each of the charts are shown in numbered and shaded
horizontal bands. In each, the left column divides the categories into
more specific subject matter areas. The remaining columns are headed by
the different types of financial institutions (e.g., national banks,
etc. * * *).
Generally, by reading down a column, a particular type of
institution may identify the citation of the rule that applies to it.
When one agency's regulation applies to institutions for which it is
not the primary regulator, the citation for the subject is repeated
across the columns.\8\ Interagency regulations are listed first,
followed by regulations issued by the OCC, Board, FDIC, and OTS.
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\8\ The charts have been provided as a convenience for the
reader and should not be treated as a comprehensive listing of all
rules applicable to a particular institution.
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Foreign banks. Foreign banks operate in the U.S. both directly,
through branches and agencies, and indirectly, through bank and nonbank
subsidiaries. The U.S. operations of foreign banks as a whole do not
fit neatly into the categories of Charts A and C. Consequently, Chart B
supplements the International Operations category of Chart A by
identifying the major regulations that apply only to U.S. branches,
agencies, or representative offices of foreign banks. We have also
footnoted the ``Holding Company'' column of Chart A to include foreign
banks. (If a foreign bank operates a branch, agency or subsidiary
commercial lending company in the U.S., it is subject to the Bank
Holding Company Act as if it were a bank holding company.) \9\
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\9\ There are a number of regulations that apply to branch or
agency operations because of the type of activity in which the
office engages rather than because it is a branch or agency. These
regulations govern such areas as consumer protection, customer
privacy, and securities regulation. Foreign banks may wish to
comment on these regulations at such time as they are published for
comment.
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IV. Request for Burden Reduction Recommendations About the First Three
Categories of Regulations: ``Applications and Reporting,'' ``Powers and
Activities,'' and ``International Operations''
The Agencies are asking the public to identify and comment upon
areas of regulations within three categories--``Applications and
Reporting,'' ``Powers and Activities,'' and ``International
Operations''--that impose outdated, unnecessary, or unduly burdensome
regulatory requirements on insured depository institutions. It is not
necessary for the public to provide burden reduction recommendations
about categories of rules other than these three categories at this
time since we will publish the remaining categories before the end of
the first review cycle in 2006. Comments that cite particular
provisions or language, and provide reasons why such provisions should
be changed, would be most helpful to the Agencies' review efforts.
Suggested alternative provisions or language, where appropriate, would
also be helpful. If the implementation of a comment would require
modifying a statute that underlies the regulation, the comment should,
if possible, identify the needed statutory change.
Specific issues for commenters to consider. While all comments
related to any aspect of section 2222 are welcome, the Agencies
specifically invite comment on the following issues:
[sbull] Need for statutory change. Do the statutes impose
unnecessary requirements? Are any of the statutory requirements
underlying these categories imposing redundant, conflicting or
otherwise unduly burdensome regulatory requirements?
[sbull] Need and purpose of the regulations. Do the regulations in
these categories fulfill current needs? Have industry or other
circumstances changed since a regulation was written such that the
regulation is no longer necessary? Have there been shifts within the
industry or consumer actions that suggest a re-focus of the underlying
regulations? Do any of the regulations in these categories impose
burdens not required by their authorizing statutes?
[sbull] Overarching approaches / flexibility of the regulatory
standards. Generally, is there a different approach to regulating that
the Agencies could use that would achieve statutory goals while
imposing less burden? Do any of the regulations in these categories or
the statutes underlying them impose unnecessarily inflexible
requirements?
[sbull] Effect of the regulations on competition. Do any of the
regulations in these categories or the statutes underlying them create
competitive disadvantages for one part of the financial services
industry compared to another?
[sbull] Reporting, recordkeeping and disclosure requirements. Do
any of the regulations in these categories or the statutes underlying
them impose particularly burdensome reporting, recordkeeping or
disclosure requirements? Are any of these requirements similar enough
in purpose and use so that they could be consolidated? Which, if any,
of these requirements could be fulfilled electronically to reduce their
burden?
[sbull] Consistency and redundancy. Do any of the regulations in
these categories impose inconsistent or redundant regulatory
requirements that are not warranted by the circumstances?
[sbull] Clarity. Are the regulations in these categories and the
underlying statutes drafted in clear and easily understood language?
Are there specific regulations or underlying statutes that need
clarification?
[sbull] Burden on small insured institutions. The Agencies have a
particular interest in minimizing burden on small insured institutions
(those with assets of $150 million or less). The Agencies solicit
comment on whether any regulations within these categories should be
continued without change, or
[[Page 35593]]
amended or rescinded in order to minimize any significant economic
impact the regulations may have on a substantial number of small
insured institutions.
BILLING CODE 4810-33, 6210-01, 6714-01, 6720-01-P
[[Page 35594]]
Charts10 |
Chart A. Regulations about which Burden Reduction
Recommendations Are
Requested Currently |
Subject |
National Banks |
State Member Banks |
State Non-Member Banks |
Thrifts |
Holding Companies
Bank11 - - - - - - -
- Thrift
|
1. Applications
and Reporting |
Interagency Regulations |
Bank Merger Act |
12 CFR 5.33 |
12 CFR 262.3 (application processing and notice provisions
only) |
12 CFR 303.60 |
12 CFR 563.22
(also includes bulk asset transfers and
thrift-to-bank conversions) |
|
Change in Bank Control |
12 CFR 5.50 |
|
12 CFR
308.110- 118 |
12 CFR Part 574 (includes control under the Savings and
Loan Holding Company Act); See also:
12 CFR 563.181
(Change of Control of Mutual Savings Associations) |
Subpart E [Reg. Y] - - - - - - -
-
(control under the Savings and Loan
Holding Company Act) |
Notice of Addition or Change of Directors |
12 CFR 5.51 |
Subpart H [Reg. Y] |
12 CFR Part 303, Subpart F |
12 CFR Part 563, Subpart H; See also:
(Change of Officer or Director After a Change in
Control) |
-
12 CFR Part 563, Subpart H; See also
(Change of Officer or Director After a Change in
Control) |
OCC Regulations
|
Rules, Policies, and Procedures for Corporate
Activities |
12 CFR Part 5 (Generally) |
|
|
|
|
Board Regulations
|
Holding Companies Formations, Acquisitions and Nonbanking
Activities |
|
|
|
|
12 CFR Part 225, Subparts
A,
B,
C,
D, and
I,
App. C [Reg. Y];
12 CFR 262.3
- - - - - - - -
|
State Member Banks |
|
12 CFR Part 208, Subparts
A,
B, and
G [Reg. H];
12 CFR Part 209 [Reg. I];
12 CFR 262.3 |
|
|
|
FDIC Regulations |
Call Reports and Other Forms, Instructions and
Reports |
(excluding 304.3(d)) |
12 CFR Part 304 (excluding 304.3(d)) |
12 CFR Part 304
|
|
|
Deposit Insurance Filing Procedures |
12 CFR Part 303, Subpart B |
12 CFR Part 303, Subpart B |
12 CFR Part 303, Subpart B |
12 CFR Part 303, Subpart B |
|
Extension of Corporate Powers General Character of
Business |
|
|
12 CFR 333.1-.2
|
|
|
Filing Procedures and Delegations of Authority
|
|
|
12 CFR Part 303 |
|
|
Mutual-to-stock conversion |
|
|
12 CFR Part 303, Subparts
H
and
I;
12 CFR 333.4 |
|
|
OTS Regulations |
Application Processing Procedures |
|
|
|
12 CFR Part 516
(Additional OTS application and notice
requirements are associated with specific regulations included
elsewhere on this list. E.g., fiduciary powers
applications,
12 CFR Part 550;
subsidiary activities,
12 CFR
Part 559) |
- - - - - - - -
(Additional OTS
application and notice requirements are associated with
specific regulations included elsewhere on this list.
E.g., holding company applications 12 CFR Parts
)
|
Capital Distributions |
|
|
|
12 CFR Part 563, Subpart E |
|
Federal Mutual Savings Associations
Incorporation, Organization and Conversion; or Merger,
Dissolution, Reorganization and Conversion |
|
|
|
12 CFR Parts
543,
546 |
|
Federal Stock Savings Associations Incorporation,
Organization and Conversion |
|
|
|
12 CFR Part 552 |
|
Mutual to Stock Conversions |
|
|
|
12 CFR Part 563b
|
|
Offices |
|
|
|
12 CFR 545.92-.96 |
|
Regulatory Reporting Standards; Other Reporting
Requirements; and Recordkeeping |
|
|
|
12 CFR Part 562;
12 CFR 563.170;
12 CFR 563.180 |
- - - - - - - -
;
12 CFR 563.180b);
12 CFR 563.170
|
Subject |
National Banks |
State Member Banks |
State Non-Member Banks |
Thrifts |
Holding Companies
Bank - - - - - - -
- Thrift
|
2. Powers and
Activities |
OCC Regulations |
Bank Activities and Operations |
12 CFR Part 7, Subparts
A,
D, and
E |
|
|
|
|
Community Development Corporations, Community Development
Projects, and Other Public Welfare Investments |
12 CFR Part 24 |
|
|
|
|
Debt Cancellation Contracts and Debt Suspension
Agreements |
12 CFR Part 37 |
|
|
|
|
Fiduciary Activities of National Banks |
12 CFR Part 9 |
|
|
|
|
Investment in Bank Premises |
12 CFR 5.37 |
|
|
|
|
Investment Securities |
12 CFR Part 1 |
12 CFR Part 1 |
|
|
|
Leasing |
12 CFR Part 23 |
|
|
|
|
Real Estate Lending |
12 CFR Part 34, Subparts
A and
B |
|
|
|
|
Sales of Credit Life Insurance |
12 CFR Part 2 |
|
|
|
|
Board Regulations
|
Bank Holding Companies and Financial Holding
Companies |
|
|
|
|
12 CFR Part 225, Subparts
A,
B,
C,
F,
I, and J [Reg.
Y] - - - - - - - -
|
State Member Banks |
|
12 CFR Part 208, Subparts
A,
B, and
G [Reg. H] |
|
|
|
FDIC Regulations |
Activities of Insured State Banks |
|
12 CFR Part 362, Subpart
A; 12 CFR Part 303, Subpart
G |
12 CFR Part 362, Subparts
A,
B, and
E; 12 CFR Part 303,
Subpart
G |
|
|
Activities of Insured State Savings Associations |
|
|
|
12 CFR Part 362, Subparts
C and
D; 12 CFR
Part 303, Subpart
H |
|
OTS Regulations |
Deposits |
|
|
|
12 CFR Parts
557,
(definitions) |
|
Electronic Operations |
|
|
|
12 CFR Part 555 |
|
Fiduciary Powers of Savings Associations |
|
|
|
12 CFR Part 550
|
|
General |
|
|
|
12 CFR Part 545; See also: provisions on chartering,
organization and bylaws at
12 CFR Part 552 (Federal Stock
Savings Associations); 12 CFR Parts
(Federal
Mutual Savings Associations) |
|
Lending and Investment |
|
|
|
12 CFR Part 560 |
|
Mutual Holding Companies |
|
|
|
|
- - - - - - - -
12 CFR Part 575
|
Preemption of State Due-On-Sale Laws (Implementation of
Garn-St Germain) |
12 CFR Part 591 |
12 CFR Part 591
|
12 CFR Part 591 |
12 CFR Part 591 |
12 CFR Part 591 - - - - - - - -
12 CFR Part
591 |
Preemption of State Usury Laws (Implementation of
DIDMCA) |
12 CFR Part 590 |
12 CFR Part 590 |
12 CFR Part 590 |
12 CFR Part 590 |
12 CFR Part 590 - - - - - - - -
12 CFR Part
590 |
Savings and Loan Holding Companies |
|
|
|
|
- - - - - - - - 12 CFR Parts
584
|
Subordinate Organizations |
|
|
|
12 CFR Part 559 |
|
Subject |
National Banks |
State Member Banks |
State Non-Member Banks |
Thrifts |
Holding Companies
Bank - - - - - - -
- Thrift
|
3. International Operations
12 |
Interagency Regulations |
International Lending Supervision |
12 CFR Part 28, Subpart C |
12 CFR Part 211, Subpart D [Reg. K] |
12 CFR Part 347,
Subpart C |
|
12 CFR Part 211,
Subpart D [Reg. K]
- - - - - - - -
|
OCC Regulations |
Foreign Operations of National Banks |
12 CFR Part 28, Subpart A |
|
|
|
|
Board Regulations |
International Operations of U.S. Banking
Organizations |
12 CFR 211.1-.4, 211.8-.13
[Reg. K, Subpart A] |
12 CFR 211.8-.13
[Reg. K, Subpart A] |
|
|
12 CFR 211.1-.4, 211.8-.13
[Reg. K, Subpart A]
- - - - - - - -
|
Edge and Agreement Corporations |
12 CFR 211.5-.7 [Reg. K, Subpart A]
|
12 CFR 211.5-.7 [Reg. K, Subpart A]
|
|
|
12 CFR 211.5-.7 [Reg. K, Subpart A]
- - - - - - - -
|
Foreign Banking Organizations |
|
|
|
|
12 CFR Part 211, Subpart B [Reg. K] - - - - - - -
-
|
Export Trading Companies |
|
|
|
|
12 CFR Part 211, Subpart C [Reg. K] - - - - - - -
-
|
FDIC Regulations |
Foreign Branching and Investment by Insured State Nonmember
Banks |
|
|
12 CFR Part 347, Subpart A;
12 CFR Part 303, Subpart
J |
|
|
Chart B. U.S.
Branches, Agencies, and Representative Offices of Foreign Banks |
Subject
|
Federal Branches and Agencies |
State Branches, Agencies, and
Representative Offices |
Federal and State Insured Branches
|
|
OCC Regulations |
12 CFR Part 28, Subpart B |
x |
|
|
Board Regulations |
, Subpart B |
x (except for 12 CFR 211.28-.29) |
x |
x |
FDIC Regulations |
12 CFR Part 347, Subpart B |
|
|
x |
12 CFR Part 303, Subpart J |
|
|
x |
Chart C. Categories and Regulations about which the
Agencies Will Seek Comment Later |
Subject |
National Banks |
State Member Banks |
State Non-Member Banks |
Thrifts |
Holding Companies
Bank13 - - - - - - -
- Thrift
|
1. Banking
Operations |
Interagency Regulations |
Prohibition of Payment of Interest on Demand
Deposits |
12 CFR Part 217 [Reg. Q] |
12 CFR Part 217 [Reg. Q] |
12 CFR Part 329 |
12 CFR 561.16 |
|
OCC Regulations
|
Assessment of Fees |
12 CFR Part 8 |
|
|
|
|
Bank Operations |
12 CFR Part 7, Subpart C |
|
|
|
|
Board Regulations |
Availability of Funds and Collection of Checks |
12 CFR Part 229 [Reg. CC] |
12 CFR Part 229 [Reg. CC] |
12 CFR Part 229 [Reg. CC] |
12 CFR Part 229 [Reg. CC] |
|
Collection of Checks and Other Items by Federal Reserve
Banks and Funds Transfers Through Fedwire |
12 CFR Part 210 [Reg. J] |
12 CFR Part 210 [Reg. J] |
12 CFR Part 210 [Reg. J] |
12 CFR Part 210 [Reg. J] |
|
Reimbursement for Providing Financial Records;
Recordkeeping Requirements for Certain Financial
Records |
12 CFR Part 219 [Reg. S] |
12 CFR Part 219 [Reg. S] |
12 CFR Part 219 [Reg. S] |
12 CFR Part 219 [Reg. S] |
|
Reserve Requirements of Depository Institutions |
12 CFR Part 204 [Reg. D] |
12 CFR Part 204 [Reg. D] |
12 CFR Part 204 [Reg. D] |
12 CFR Part 204 [Reg. D] |
|
The Payment System Risk Reduction Policy |
Federal Reserve Regulatory Service
9-1000 |
Federal Reserve Regulatory Service
9-1000 |
Federal Reserve Regulatory
Service
9-1000 |
Federal Reserve Regulatory Service
9-1000 |
|
FDIC Regulations
|
Assessments |
12 CFR Part 327 |
12 CFR Part 327 |
12 CFR Part 327 |
12 CFR Part 327 |
|
Assessment of Fees upon Entrance to or Exit from the Bank
Insurance Fund or the Savings Association Insurance
Fund |
12 CFR Part 312 |
12 CFR Part 312 |
12 CFR Part 312 |
12 CFR Part 312 |
|
Determination of Economically Depressed Regions |
|
|
|
12 CFR Part 357 |
|
OTS Regulations
|
Assessments and Fees |
|
|
|
12 CFR Part 502 |
- - - - - - - - 12 CFR Part
502
|
Subject |
National Banks |
State Member Banks |
State Non-Member Banks |
Thrifts |
Holding Companies
Bank - - - - - - -
- Thrift
|
2. Capital
|
Interagency Regulations |
Prompt Corrective Action |
12 CFR Part 6 |
12 CFR Part 208, Subpart D [Reg. H]; 12 CFR
263.201-.205 |
12 CFR Part 325, Subpart B |
12 CFR Part 565 |
12 CFR 208.44(i); 12 CFR 263.201-.202, .205 - - - - - -
- - 12 CFR 565.5(i); 12 CFR 565.7; 12 CFR 565.10 |
Risk-Based and Leverage Capital Adequacy Standards |
12 CFR Part 3 |
12 CFR 208.4; 12 CFR Part 208, App. A, B, and E [Reg. H];
12 CFR Part 263, Subpart E |
12 CFR Part 325, Subpart A and all Appendices |
12 CFR Part 567; 12 CFR 563.81 |
12 CFR Part 225, App. A, B, D, and E [Reg. Y]; 12 CFR Part
263, Subpart E - - - - - - - -
|
OCC Regulations |
Changes in Permanent Capital; Subordinated Debt as
Capital |
12 CFR 5.46-.47 |
|
|
|
|
Subject |
National Banks |
State Member Banks |
State Non-Member Banks |
Thrifts |
Holding Companies
Bank - - - - - - -
- Thrift |
3. Community Reinvestment Act14 |
Interagency Regulations |
Community Reinvestment Act |
12 CFR Part 25 |
12 CFR Part 228 [Reg. BB] |
12 CFR Part 345 |
12 CFR Part 563e |
12 CFR 228.29 - - - - - - - - 12 CFR
563e.29 |
Disclosure and Reporting of CRA-Related Agreements |
12 CFR Part 35 |
12 CFR Part 207 [Reg. G] |
12 CFR Part 346 |
12 CFR Part 533 |
12 CFR Part 207 [Reg. G] - - - - - - - - 12 CFR Part
533 |
Subject |
National Banks |
State Member Banks |
State Non-Member Banks |
Thrifts |
Holding Companies
Bank - - - - - - -
- Thrift
|
4. Consumer
Protection |
Interagency Regulations |
Consumer Protection in Sales of Insurance |
12 CFR Part 14 |
12 CFR Part 208, Subpart H [Reg. H] |
12 CFR Part 343 |
12 CFR Part 536 |
|
Fair Housing |
12 CFR Part 27 |
|
12 CFR Part 338 |
12 CFR Part 528 (including other nondiscrimination
requirements) |
|
Loans in Identified Flood Hazard Areas |
12 CFR Part 22 |
12 CFR 208.25 [Reg. H] |
12 CFR Part 339 |
12 CFR Part 572 |
|
Privacy of Consumer Financial Information |
12 CFR Part 40 |
12 CFR Part 216 [Reg. P] |
12 CFR Part 332 |
12 CFR Part 573 |
12 CFR Part 216 [Reg. P]
- - - - - - - -
|
Prohibition Against Use of Interstate Branches Primarily
for Deposit Production |
12 CFR Part 25, Subpart E |
12 CFR 208.7 [Reg. H] |
12 CFR Part 369 |
|
12 CFR 208.7 [Reg. H] - - - - - - - -
|
Safeguarding Customer Information |
12 CFR Part 30, App. B |
12 CFR Part 208, App. D-2 [Reg. H] |
12 CFR Part 364, App. B |
12 CFR Part 570, App. B |
12 CFR 225.4(h); 12 CFR Part 225, App. F - - - - - - -
-
|
Unfair or Deceptive Acts or Practices |
12 CFR Part 227 [Reg. AA] |
12 CFR Part 227 [Reg. AA] |
12 CFR Part 227 [Reg. AA] |
12 CFR Part 535 |
|
Board Regulations |
Consumer Leasing |
12 CFR Part 213 [Reg. M] |
12 CFR Part 213 [Reg. M] |
12 CFR Part 213 [Reg. M] |
12 CFR Part 213 [Reg. M] |
12 CFR Part 213 [Reg. M] - - - - - - - - 12 CFR Part
213 [Reg. M] |
Electronic Fund Transfers |
12 CFR Part 205 [Reg. E] |
12 CFR Part 205 [Reg. E] |
12 CFR Part 205 [Reg. E] |
12 CFR Part 205 [Reg. E] |
|
Equal Credit Opportunity |
12 CFR Part 202 [Reg. B] |
12 CFR Part 202 [Reg. B] |
12 CFR Part 202 [Reg. B] |
12 CFR Part 202 [Reg. B] |
12 CFR Part 202 [Reg. B] - - - - - - - -
12 CFR Part 202 [Reg. B] |
Home Mortgage Disclosure Act |
12 CFR Part 203 [Reg. C] |
12 CFR Part 203 [Reg. C] |
12 CFR Part 203 [Reg. C] |
12 CFR Part 203 [Reg. C] |
12 CFR Part 203 [Reg. C] - - - - - - - -
12 CFR Part 203 [Reg. C] |
Truth in Lending |
12 CFR Part 226 [Reg. Z] |
12 CFR Part 226 [Reg. Z] |
12 CFR Part 226 [Reg. Z] |
12 CFR Part 226 [Reg. Z] |
12 CFR Part 226 [Reg. Z] - - - - - - - - 12 CFR Part
226 [Reg. Z] |
Truth in Savings |
12 CFR Part 230 [Reg. DD] |
12 CFR Part 230 [Reg. DD] |
12 CFR Part 230 [Reg. DD] |
12 CFR Part 230 [Reg. DD] |
|
FDIC Regulations
|
Advertisement of Membership |
12 CFR Part 328 |
12 CFR Part 328 |
12 CFR Part 328 |
12 CFR Part 328 |
|
Deposit Insurance Coverage |
12 CFR Part 330 |
12 CFR Part 330 |
12 CFR Part 330 |
12 CFR Part 330 |
|
Notification of Changes of Insured Status |
12 CFR Part 307 |
12 CFR Part 307 |
12 CFR Part 307 |
|
|
OTS Regulations
|
Advertising |
|
|
|
12 CFR 563.27 |
|
Tying Restriction Exception |
|
|
|
12 CFR 563.36 |
- - - - - - - - 12 CFR
563.36
|
Subject |
National Banks |
State Member Banks |
State Non-Member Banks |
Thrifts |
Holding Companies
Bank - - - - - - -
- Thrift
|
5.
Directors, Officers and Employees |
Interagency Regulations |
Disclosure of Financial Information
|
12 CFR Part 18 |
|
12 CFR Part 350 |
|
|
Golden Parachute and Indemnification Programs |
12 CFR Part 359 |
12 CFR Part 359 |
12 CFR Part 359 |
12 CFR Part 359; See also: 12 CFR 545.121
|
12 CFR Part 359 - - - - - - - - 12 CFR Part
359 |
Limits on Extensions of Credit to Executive Officers,
Directors and Principal Shareholders; Related Disclosure
Requirements |
12 CFR Part 31 |
12 CFR Part 215 [Reg. O] |
12 CFR 337.3; 12 CFR Part 349 |
12 CFR 563.43 |
|
Management Official Interlocks |
12 CFR Part 26 |
12 CFR Part 212 [Reg. L] |
12 CFR Part 348 |
12 CFR Part 563f |
12 CFR Part 212 [Reg. L] - - - - - - - - 12 CFR Part
563f |
OCC Regulations
|
Bank Activities and Operations Corporate Practices |
12 CFR Part 7, Subpart B |
|
|
|
|
OTS Regulations |
Board of Directors Composition |
|
|
|
12 CFR 563.33 |
|
Bond Coverage |
|
|
|
12 CFR 563.190-.191 |
|
Employment Contracts, Compensation, Pension Plans |
|
|
|
12 CFR 563.39; 12 CFR 563.47; 12 CFR 563.161 |
|
Restrictions on Transactions with Officers, Directors, and
Others |
|
|
|
12 CFR 560.130; 12 CFR 563.200-.201 |
- - - - - - - - 12 CFR
563.200-.201
|
Subject |
National Banks |
State Member Banks |
State Non-Member Banks |
Thrifts |
Holding Companies
Bank - - - - - - -
- Thrift
|
6. Money Laundering
|
Interagency Regulations |
Bank Secrecy Act Compliance |
12 CFR Part 21, Subpart C |
12 CFR 208.63 [Reg. H] |
12 CFR Part 326, Subpart B |
12 CFR 563.177 |
|
Reports of Crimes or Suspected Crimes |
12 CFR Part 21, Subpart B |
12 CFR 208.62-.63 [Reg. H] |
12 CFR Part 353 |
12 CFR 563.180(d) |
12 CFR 225.4(f) - - - - - - -
-
|
Subject |
National Banks |
State Member Banks |
State Non-Member Banks |
Thrifts |
Holding Companies
Bank - - - - - - -
- Thrift
|
7. Rules of
Procedure |
Interagency Regulations |
Uniform Rules of Practice and Procedure |
12 CFR Part 19 |
12 CFR Part 263 |
12 CFR Part 308 |
12 CFR Part 509 |
12 CFR Part 263 - - - - - - - - 12 CFR Part
509 |
OCC Regulations |
Voluntary Liquidation |
12 CFR 5.48 |
|
|
|
|
FDIC Regulations
|
Resolution and Receivership Rules |
12 CFR Part 360 |
12 CFR Part 360 |
12 CFR Part 360 |
12 CFR Part 360 |
|
Restrictions on Sale of Assets by the Federal Deposit
Insurance Corporation |
12 CFR Part 340 |
12 CFR Part 340 |
12 CFR Part 340 |
12 CFR Part 340 |
|
OTS Regulations |
Investigative Proceedings and Formal Examinations |
|
|
|
12 CFR Part 512 |
- - - - - - - - 12 CFR Part 512
|
Possession by Conservators and Receivers for Federal and
State Savings Associations |
|
|
|
12 CFR Part 558 |
|
Removals, Suspensions and Prohibitions Where a Crime is
Charged or Proven |
|
|
|
12 CFR Part 508 |
- - - - - - - - 12 CFR Part
508
|
Subject |
National Banks |
State Member Banks |
State Non-Member Banks |
Thrifts |
Holding Companies
Bank - - - - - - -
- Thrift |
8. Safety and
Soundness |
Interagency Regulations |
Appraisal Standards for Federally Related
Transactions |
12 CFR Part 34, Subpart C |
12 CFR 208.50 [Reg. H]; 12 CFR Part 225, Subpart G [Reg.
Y] |
12 CFR Part 323 |
12 CFR Part 564 |
12 CFR Part 225, Subpart G [Reg. Y] - - - - - - -
-
|
Frequency of Safety and Soundness Examination |
12 CFR 4.6-.7 |
12 CFR 208.64 |
12 CFR 337.12 |
12 CFR 563.171 (See also: 12 CFR 563.170) |
|
Lending Limits |
12 CFR Part 32 |
12 CFR Part 215, Subpart A |
|
12 CFR 560.93 |
|
Real Estate Lending Standards |
12 CFR Part 34, Subpart D |
12 CFR Part 208, Subpart E and App. C [Reg. H] |
12 CFR Part 365 |
12 CFR 560.100,; 12 CFR 563.101 |
|
Security Devices and Procedures |
12 CFR Part 21, Subpart A |
12 CFR 208.61 [Reg. H] |
12 CFR Part 326, Subpart A |
12 CFR Part 568 |
|
Standards for Safety and Soundness |
12 CFR Part 30 |
12 CFR Part 208, App. D-1 [Reg. H] |
12 CFR Part 364 |
12 CFR Part 570 |
|
Transactions with Affiliates |
12 CFR Part 223 [Reg. W]; 12 CFR Part 31 |
12 CFR Part 223 [Reg. W] |
|
12 CFR 563.41 |
|
OCC Regulations |
Other Real Estate Owned |
12 CFR Part 34, Subpart E |
|
|
|
|
Board Regulations |
Extensions of Credit by Federal Reserve Banks |
12 CFR Part 201 [Reg. A] |
12 CFR Part 201 [Reg. A] |
12 CFR Part 201 [Reg. A] |
12 CFR Part 201 [Reg. A] |
|
Limitations on Interbank Liabilities |
12 CFR Part 206 [Reg. F] |
12 CFR Part 206 [Reg. F] |
12 CFR Part 206 [Reg. F] |
12 CFR Part 206 [Reg. F] |
|
FDIC Regulations
|
Annual Independent Audits and Reporting Requirements |
12 CFR Part 363 |
12 CFR Part 363 |
12 CFR Part 363 |
12 CFR Part 363; See also: OTS, 12 CFR 562.4 |
|
Unsafe and Unsound Banking Practices (Standby Letters of
Credit and Brokered Deposits) |
|
|
12 CFR 337.2; 12 CFR 337.6 |
|
|
OTS Regulations |
Audits of Savings Associations and Savings Association
Holding Companies |
|
|
|
12 CFR 562.4, See also: FDIC, 12 CFR Part 363 |
- - - - - - - -
12 CFR 562.4 |
Financial Management Policies |
|
|
|
12 CFR Part 563, Subpart F |
- - - - - - - - 12 CFR 563.170
|
Lending and Investment Additional Safety and Soundness
Limitations |
|
|
|
12 CFR Part 560 |
|
Subject |
National Banks |
State Member Banks |
State Non-Member Banks |
Thrifts |
Holding Companies
Bank - - - - - - -
- Thrift
|
9. Securities |
Interagency Regulations |
Banks as Registered Clearing Agencies |
12 CFR 19.135 |
12 CFR 208.32-33 [Reg. H] |
12 CFR Part 308, Subpart S |
|
|
Banks as Securities Transfer Agents |
12 CFR 9.20 |
12 CFR 208.31 [Reg. H] |
12 CFR Part 341 |
|
|
Government Securities Sales Practices |
12 CFR Part 13 |
12 CFR 208.37 [Reg. H] |
12 CFR Part 368 |
|
|
Recordkeeping and Confirmation of Securities Transactions
Effected by Banks |
12 CFR Part 12 |
12 CFR 208.34 [Reg. H] |
12 CFR Part 344 |
12 CFR Part 551 |
|
Reporting Requirements for Reported Securities Under the
Securities Exchange Act of 1934 |
12 CFR Part 11 |
12 CFR 208.36 [Reg. H] |
12 CFR Part 335 |
12 CFR Part 563d |
|
Securities Offerings |
12 CFR Part 16 |
|
|
12 CFR Part 563g |
|
OCC Regulations |
Municipal Securities Dealer Activities of Banks |
12 CFR Part 10 |
|
|
|
|
Board Regulations |
Credit by Banks and Persons Other than Brokers or Dealers
for the Purpose of Purchasing or Carrying Margin Stock |
12 CFR Part 221 [Reg. U] |
12 CFR Part 221 [Reg. U] |
12 CFR Part 221 [Reg. U] |
12 CFR Part 221 [Reg. U] |
12 CFR Part 221 [Reg. U] - - - - - - - - 12 CFR Part
221 [Reg. U] |
OTS Regulations |
Accounting Requirements/Financial Statements
|
|
|
|
12 CFR Part 563c |
|
Proxies |
|
|
|
12 CFR Part 569 |
|
Rules on the Issuance and Sale of Institution
Securities |
|
|
|
12 CFR 563.5; 12 CFR Part 563, Subpart C |
|
_____________________________________________
10
The Agencies have attempted to make
these charts as user friendly as possible. Inevitably, some
oversimplification may have occurred. The Agencies have
developed these charts solely to facilitate the comment process.
11
Foreign banking organizations that
conduct banking operations in the U.S., either directly through
branches and agencies or indirectly through U.S. bank subsidiaries
or commercial lending company subsidiaries, generally are subject to
the same regulatory regime as domestic bank holding companies.
12
Regulations applicable solely to
U.S. branches and agencies of foreign banks are addressed in Chart
B.
13
Foreign banking organizations that
conduct banking operations in the U.S., either directly through
branches and agencies or indirectly through U.S. bank subsidiaries
or commercial lending company subsidiaries, generally are subject to
the same regulatory regime as domestic bank holding companies.
14
Community development regulations
are being published for comment as part of the Powers and Activities
category.
Dated: June 3, 2003.
John D. Hawke, Jr.,
Comptroller of the Currency.
By order of the Board of Governors of the Federal Reserve
System, June 9, 2003.
Jennifer J. Johnson,
Secretary of the Board.
By order of the Board of Directors.
Federal Deposit Insurance Corporation.
Dated in Washington, DC, this 10 day of June, 2003.
Robert E. Feldman,
Executive Secretary.
Dated: May 29, 2003.
James E. Gilleran,
Director, Office of Thrift Supervision.
[FR Doc. 03-15088 Filed 6-13-03; 8:45 am]
BILLING CODE 4810-33, 6210-01, 6714-01, 6720-01-P
|