[October 29, 1997 (Volume 62, Number 209)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[Page 58408]
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Final Rule Stage
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4289. DETERMINATION OF ECONOMICALLY DEPRESSED REGIONS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1819; 12 USC 1823
CFR Citation: 12 CFR 357
Legal Deadline: None
Abstract: The FDIC is required by statute to consider proposals for
direct financial assistance by SAIF members having offices located in
economically depressed regions and meeting certain other specified
criteria, before grounds exist for the appointment of a conservator or
receiver. In fulfilling this mandate, the FDIC established a list of
ten such regions in 1990 with 12 CFR 357 (55 FR 11161). In 1992, the
FDIC published a proposal that would have updated the list of 10
regions, but that proposal was never finalized. This rulemaking
withdraws the 1992 proposal, and revises the regulation by providing
the methodology that the FDIC will use to determine which regions are
economically depressed, rather than identifying and periodically
updating a list of regions.
This action is the result of a CDRI section 303(a) review.
Timetable:
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Action Date FR Cite
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NPRM 12/18/92 57 FR 60140
NPRM Comment Period End 02/16/93
Second NPRM 08/06/96 61 FR 40756
Second NPRM Comment Period End 10/07/96
Final Action 12/00/97
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: John O'Keefe, Chief, Economic Analysis Section,
Division of Research and Statistics, Federal Deposit Insurance
Corporation, Washington, DC 20429
Phone: 202 898-3945
RIN: 3064-AB08
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