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FDIC Federal Register Citations

[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
_______________________________________________________________________
 
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:
________________________________________________________________________
Action                            Date                      FR Cite
________________________________________________________________________
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
_______________________________________________________________________

Last Updated 10/29/1997 regs@fdic.gov

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