[November 9, 1998 (Volume 63, Number 216)]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)
Federal Deposit Insurance Corporation
Semiannual Regulatory Agenda
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 (FDIC) is hereby
publishing items for the October 1998 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.'' This
policy was revised recently (63 FR 25157, May 7, 1998) to focus it more
sharply on the FDIC's approach to regulatory reform.
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.
The Riegle Community Development and Regulatory Improvement Act
of 1994 (CDRI) contains reforms that significantly restructure the
regulation of financial institutions. As a consequence, many of the
regulations included in this agenda are in response to CDRI. The
FDIC is continuing to develop regulations implementing the most
recent legislative requirements. These include the requirement in
section 303 of CDRI that the Federal banking regulators conduct a
review of all their regulations and written policies to streamline
them, remove inconsistencies, improve efficiency, reduce
unnecessary costs, and make uniform all regulations and guidelines
implementing common statutory or supervisory policies. Changes to
the FDIC's regulations as a result of CDRI will be noted in this
and future semiannual agendas as they emerge from these reviews.
The Federal banking regulators are the FDIC, 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.
Federal Deposit Insurance Corporation.
Robert E. Feldman,