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FDIC Federal Register Citations

[May 13, 2002 (Volume 67, Number 92)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[DOCID: f:ua020451.wais]
[Page 34148-34154]

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)
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Part LI

Federal Deposit Insurance Corporation
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Semiannual Regulatory Agenda
[[Page 34148]]

______________________________________________________________________________________

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 Spring 2002 Unified Agenda of Regulatory and Deregulatory Actions. 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 the Regulatory Flexibility Act (5 U.S.C. 601 et seq.). 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 to implement provisions of 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.
Federal Deposit Insurance Corporation.

Robert E. Feldman,
Executive Secretary.
Federal Deposit Insurance Corporation

FDIC Prerule Stage

Sequence Number

           Title

3828 12 CFR 327 Assessments--Assessment Base

FDIC Proposed Rule Stage

Sequence Number

           Title

3829 12 CFR 366 Contractor Conflict of Interest (Section 610 Review)
3830 12 CFR 334 Fair Credit Reporting Act Regulations
3831 12 CFR 313 Procedures for the Collection of Corporate Debt by Administrative Offset
3832 Brokers and Dealers
3833 12 CFR 330 Deposit Insurance Coverage
3834 12 CFR 325 Simplified Capital Framework for Noncomplex Financial Institutions
3835 12 CFR 303 Filing Procedures and Delegations of Authority

FDIC Final Rule Stage

Sequence Number

           Title

3836 12 CFR 342 Qualification Requirements for the Recommendation or Sale of Certain
Securities
3837 12 CFR 360 Payment of Post-Insolvency Interest in Receivership with Surplus Funds
3838 12 CFR 325 Risk-Based Capital Guidelines; Claims on Securities Firms
3839 12 CFR 369 Prohibition Against Use of Interstate Branches Primarily For Deposit
Production
3840 12 CFR 325 Risk-Based Capital Guidelines: Market Risk Measure; Securities Borrowing Transactions

FDIC Long-Term Actions

Sequence Number

           Title

3841 12 CFR 345 Community Reinvestment Act Regulations (Section 610 Review)

FDIC Completed Actions

Sequence Number

           Title

3842 12 CFR 308 Censure, Suspension, and Debarment of Independent Public Accountants
3843 12 CFR 325 Capital Maintenance--Recourse Arrangements and Direct Credit Substitutes
3844 12 CFR 325 Capital Maintenance--Collateralized Transactions
3845 12 CFR 307 Notification of Assumption of Deposits and Change of Insured Status
3846 12 CFR 328 Advertisement of Membership
3847 12 CFR 325 Capital; Leverage and Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance: Residual Interests in Asset Securitizations or Other Transfers of Financial Assets
3848 12 CFR 325 Capital; Leverage and Risk-Based Capital Guidelines; Capital Adequacy Guidelines; Capital Maintenance; Nonfinancial Equity Investments
3849 12 CFR 304 Technical Amendments to FDIC Regulations Relating to Forms, Instructions, and Reports

Prerule Stage

3828. ASSESSMENTS--ASSESSMENT BASE
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1441; 12 USC 1817 to 1819
CFR Citation: 12 CFR 327
Legal Deadline: None
Abstract: In 1994, the FDIC sought comment on a proposal to revise the assessment base used by insured institutions to determine the premium paid for deposit insurance. That initiative did not lead to a proposed
rule. Instead, the FDIC plans to revisit the issue with a new ANPRM on alternative options for the deposit component of the assessment base  and on options regarding the float deduction and use of average daily
deposit balances.
Timetable:
______________________________________________________________________________________
Action Date FR Cite
______________________________________________________________________________________
ANPRM 10/05/94 59 FR 50710
ANPRM Comment Period End 02/02/95
Second ANPRM 09/00/02
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Steve Wagoner, Senior Assessment Specialist, Division of Finance, Federal Deposit Insurance Corporation
Phone: 202 416-7152
RIN: 3064-AB46
______________________________________________________________________________________

Proposed Rule Stage

3829. CONTRACTOR CONFLICT OF INTEREST (SECTION 610 REVIEW)
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 who 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 10/00/02
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Donald Rosholt, Senior Ethics Program Specialist, Office of the Executive Secretary, Federal Deposit Insurance Corporation
Phone: 202 898-7287
RIN: 3064-AC29
______________________________________________________________________________________

3830. FAIR CREDIT REPORTING ACT REGULATIONS
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 1681s; 12 USC 1819(a)(Tenth)
CFR Citation: 12 CFR 334
Legal Deadline: None
[[Page 34150]]
Abstract: Section 506 of the Gramm-Leach-Bliley Act requires bank regulators and FTC to publish FCRA regulations to implement the Fair Credit Reporting Act. Due to comments received from a joint notice of
proposed rulemaking, dated October 20, 2000, it is anticipated that the agencies will issue a new proposed rulemaking for public comment.
Timetable:
_____________________________________________________________________________________
Action Date FR Cite
______________________________________________________________________________________
NPRM 10/20/00 65 FR 63120
NPRM Comment Period End 12/04/00
Second NPRM 08/00/02
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Deanna Caldwell, Senior Policy Analyst, Division of Compliance and Consumer Affairs, Federal Deposit Insurance Corporation
Phone: 202 942-3366
RIN: 3064-AC35
_______________________________________________________________________

3831. PROCEDURES FOR THE COLLECTION OF CORPORATE DEBT BY ADMINISTRATIVE
OFFSET
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1819(a); 5 USC 5514; 31 USC 3711; 31 USC 3716
CFR Citation: 12 CFR 313
Legal Deadline: None
Abstract: This rulemaking establishes procedures for the collection of debts owed the FDIC. The rulemaking also implements the Debt Collection Improvement Act of 1996, which requires agencies to promulgate regulations on this subject. The regulation sets forth the procedures the FDIC would follow in collecting debts through salary offset, administrative offset, and tax refund offset.
Timetable:
______________________________________________________________________________________
Action Date FR Cite
______________________________________________________________________________________
NPRM 06/00/02
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Manuel Palau, Counsel, Legal Division, Federal Deposit Insurance Corporation
Phone: 202 898-8829
RIN: 3064-AC40
______________________________________________________________________________________

3832. BROKERS AND DEALERS
Priority: Substantive, Nonsignificant
Legal Authority: 15 USC 78a
CFR Citation: Not Yet Determined
Legal Deadline: Final, Statutory, May 12, 2001.
Abstract: This rulemaking implements section 204 of the Gramm-Leach-Bliley Act (GLBA), which requires the Federal banking agencies to establish recordkeeping requirements for banks relying on any of the
broker-dealer exemptions listed in sections 201 and 202 of GLBA.
Timetable:
______________________________________________________________________________________
Action Date FR Cite
______________________________________________________________________________________
NPRM 09/00/02
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Keith Ligon, Chief, Policy Unit, Division of Supervision, Federal Deposit Insurance Corporation
Phone: 202 898-3618
RIN: 3064-AC42
_____________________________________________________________________________________

3833. DEPOSIT INSURANCE COVERAGE
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1813(l)
CFR Citation: 12 CFR 330
Legal Deadline: None
Abstract: This rulemaking establishes a uniform and streamlined appeals process for deposit insurance claims.
Timetable:
_____________________________________________________________________________________
Action Date FR Cite
_____________________________________________________________________________________
NPRM 09/00/02
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Richard Osterman, Assistant General Counsel, Legal Division, Federal Deposit Insurance Corporation
Phone: 202 736-0617
RIN: 3064-AC43
______________________________________________________________________________________

3834. SIMPLIFIED CAPITAL FRAMEWORK FOR NONCOMPLEX FINANCIAL INSTITUTIONS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1815(a)
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: This notice, sponsored jointly by the OCC, the FRS, the FDIC and OTS, advises the public that the Agencies are considering developing a regulatory capital framework tailored to the size,
structure, complexity, and risk profile of domestic, noncomplex financial institutions. The Agencies are seeking comment on possible regulatory capital frameworks that may ease the burden on these
financial institutions, such as a simplified risk-based or a modified leverage ratio framework.
Timetable:
______________________________________________________________________________________
Action Date FR Cite
______________________________________________________________________________________
ANPRM 11/03/00 65 FR 66193
ANPRM Comment Period End 02/01/01
NPRM 09/00/02
Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None
Agency Contact: Keith Ligon, Chief, Policy Unit, Division of Supervision, Federal Deposit Insurance Corporation
Phone: 202 898-3618
RIN: 3064-AC44
______________________________________________________________________________________

3835. FILING PROCEDURES AND DELEGATIONS OF AUTHORITY
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 378
CFR Citation: 12 CFR 303
Legal Deadline: None
Abstract: This rulemaking eliminates the existing requirement that the FDIC's Board act on merger applications involving a combined market share above 35 percent; it also reflects certain required Gramm-Leach-Bliley changes and revisions to enforcement delegations as well as technical amendments to part 303.
Timetable:
_____________________________________________________________________________________
Action Date FR Cite
_____________________________________________________________________________________
NPRM 06/00/02
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Rae-Ann Miller, Assistant Director, Division of Supervision, Federal Deposit Insurance Corporation
Phone: 202 898-8523
RIN: 3064-AC51
[[Page 34151]]
______________________________________________________________________________________

Final Rule Stage

3836. 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: Final, Statutory, May 12, 2001, recordkeeping
requirement.
Abstract: This proposal, sponsored jointly by the OCC, the FRS, and the FDIC, would establish qualifications for banks that sell certain securities to their customers without having to register as a broker
under the Securities Exchange Act. FDIC staff are contemplating a recommendation to rescind this proposal and replace it with a second NPRM to exempt banks from registering with the NASD/SEC as securities brokers or dealers in the event that they qualify under any of the exemption criteria in Gramm-Leach-Bliley Act sections 201 or 202 (see NPRM described at 3064-AC42).
Timetable:
_____________________________________________________________________________________
Action Date FR Cite
_____________________________________________________________________________________
NPRM 12/30/96 61 FR 68824
NPRM Comment Period End 02/28/97
Final Action 11/00/02
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
Phone: 202 898-3618
RIN: 3064-AB85
______________________________________________________________________________________

3837. PAYMENT OF POST-INSOLVENCY INTEREST IN RECEIVERSHIPS WITH SURPLUS
FUNDS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1821(d)(1); 12 USC 1821(d)(10)(C); 12 USC
1821(d)(11); 12 USC 1821(e)(1); 12 USC 1821(e)(8)(D)(i); 12 USC
1823(c)(4); 12 USC 1823(e)(2); PL 101-73; 103 Stat 357
CFR Citation: 12 CFR 360
Legal Deadline: None
Abstract: This rulemaking establishes uniform rules governing the payment and priority of postinsolvency interest in insured depository institution receiverships with surplus funds.
Timetable:
______________________________________________________________________________________
Action Date FR Cite
______________________________________________________________________________________
NPRM 12/18/01 66 FR 65144
NPRM Comment Period End 02/19/02
Final Action 06/00/02
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
Phone: 202 898-3556
RIN: 3064-AB92
______________________________________________________________________________________

3838. RISK-BASED CAPITAL STANDARDS: CLAIMS ON SECURITIES FIRMS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1815(a); 12 USC 1828(d); 12 USC 1828(i); 12 USC
1828(n); 12 USC 1828(o); 12 USC 1831o; 12 USC 1835; 12 USC 1815(b); 12
USC 1816; 12 USC 1818(a) to 1818(c); 12 USC 1818(t); 12 USC 1819
(Tenth); 12 USC 1828(c)
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, the FDIC and OTS (the Agencies), and amends their respective risk-based capital standards for banks, bank holding companies, and savings
associations with regard to the risk-weighting of claims on, and claims guaranteed by, qualifying securities firms. The rule reduces the risk weight applied to claims on, and claims guaranteed by, qualifying
securities firms incorporated in countries that are members of the Organization for Economic Cooperation and Development (OECD) from 100 percent to 20 percent under the Agencies' risk-based capital rules.
Timetable:
______________________________________________________________________________________
Action Date FR Cite
______________________________________________________________________________________
NPRM 12/06/00 65 FR 76180
NPRM Comment Period End 01/22/01
Final Action 06/00/02
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 Phone: 202 898-8904
RIN: 3064-AC17
______________________________________________________________________________________

3839. PROHIBITION AGAINST USE OF INTERSTATE BRANCHES PRIMARILY FOR
DEPOSIT PRODUCTION
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1819(Tenth); 12 USC 1835a
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 04/09/01 66 FR 18411
NPRM Comment Period End 06/08/01
Final Action 05/00/02
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Marc J. Goldstrom, Counsel, Legal Division, Federal
Deposit Insurance Corporation
Phone: 202 898-8807
RIN: 3064-AC36
______________________________________________________________________________________

3840. RISK-BASED CAPITAL GUIDELINES: MARKET RISK MEASURE; SECURITIES
BORROWING TRANSACTIONS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC
1818(a) to 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; PL 102-233; 105 Stat 1761; 105 Stat 1789; 105 Stat 1790; PL 102-
242; 105 Stat 2236; 105 Stat 2355; 105 Stat 2386
CFR Citation: 12 CFR 325
Legal Deadline: None
[[Page 34152]]
Abstract: This rulemaking sponsored jointly by the OCC, the FRS and the FDIC, amends their market risk rules to revise the capital treatment for cash collateral that is posted in connection with certain
securities borrowing transactions. The effect of the rule is to more appropriately align the capital requirements for these transactions with the risk involved and to provide a capital treatment for U.S.
banking organizations that is more in line with the capital treatment applied to their domestic and foreign competitors.
Timetable:
______________________________________________________________________________________
Action Date FR Cite
______________________________________________________________________________________
Interim Final Rule 12/05/00 65 FR 75856
Interim Final Rule Effective 01/04/01
Interim Final Rule Comment
Period End 01/19/01
Final Action 12/00/02
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
Phone: 202 898-8904
RIN: 3064-AC46
______________________________________________________________________________________

Long-Term Actions

3841. COMMUNITY REINVESTMENT ACT REGULATIONS (SECTION 610 REVIEW)
Priority: Substantive, Nonsignificant
CFR Citation: 12 CFR 345
Timetable:
______________________________________________________________________________________
Action Date FR Cite
______________________________________________________________________________________
ANPRM 07/19/01 66 FR 37602
ANPRM Comment Period End 10/17/01
NPRM To Be Determined
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Deanna Caldwell
Phone: 202 942-3366
RIN: 3064-AC50
______________________________________________________________________________________

Completed Actions

 

3842. CENSURE, SUSPENSION, AND DEBARMENT OF INDEPENDENT PUBLIC
ACCOUNTANTS
Priority: Substantive, Nonsignificant
Legal Authority: PL 102-242, sec 112
CFR Citation: 12 CFR 308
Legal Deadline: None
Abstract: This regulation implements section 36(g)(4) of the Federal Deposit Insurance Act (as amended by section 112 of FDICIA) and requires the FDIC, the OCC, the FRS, and the OTS, to develop joint
rules of practice for the suspension, removal, or debarment of independent public accountants.
Timetable:
______________________________________________________________________________________
Action Date FR Cite
______________________________________________________________________________________
Withdrawn 03/14/02
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Doris L. Marsh, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation
Phone: 202 898-8905
RIN: 3064-AA64
______________________________________________________________________________________

3843. CAPITAL MAINTENANCE--RECOURSE ARRANGEMENTS AND DIRECT CREDIT
SUBSTITUTES
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1815(a); 12 USC 1816; 12 USC 1818(a); 12 USC
1819(Tenth); 12 USC 1828(d); 12 USC 1831o; 12 USC 3907; 12 USC 3909; 12
USC 1815(b); 12 USC 1818(b); 12 USC 1818(c); 12 USC 1818(t); 12 USC
1828(i); 12 USC 1828(n); 12 USC 1828(o); 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: The interagency 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. This rulemaking and the rulemaking on residual interests (see 3064-AC34) are interrelated in that both address the regulatory capital treatment for residual interests in securitizations and other financial
asset transfers. The agencies participating in these two rulemakings are ensuring that the treatment of residual interests will be consistent and may issue a single combined final rule rather than
separate final rules.
[[Page 34153]]
Timetable:
______________________________________________________________________________________
Action Date FR Cite
______________________________________________________________________________________
Final Action 11/29/01 66 FR 59614
Final Action Effective 01/01/02
Credit Ratings ANPRM 05/25/94 (59 FR 27116) Final Action 11/29/01 (66 FR 59614) Final Action Effective 01/01/02 Recourse/Direct Credit Substitutes NPRM 05/25/94 (59 FR 27116) Second
NPRM 03/08/00 (65 FR 12320) Second NPRM Comment Period End 06/07/
00 Final Action 11/29/01 (66 FR 59614) Final Action Effective 01/01/
02 Synthesis of Credit Ratings/Recourse/Direct Credit Substitutes NPRM
11/05/97 (62 FR 59944) Final Action 11/29/01 (66 FR 59614) Final
Action Effective 01/01/02
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
Phone: 202 898-8906
RIN: 3064-AB31
______________________________________________________________________________________

3844. CAPITAL MAINTENANCE--COLLATERALIZED TRANSACTIONS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1815; PL 102-233; PL 102-242; 12 USC 1816; 12
USC 1818; 12 USC 1819; 12 USC 1828; 12 USC 1831; 12 USC 3907; 12 USC 3909; 12 USC 4808
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
Withdrawn 03/14/02
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
Phone: 202 898-8904
RIN: 3064-AB78
______________________________________________________________________________________

3845. 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
Withdrawn 03/14/02
Regulatory Flexibility Analysis Required: Undetermined
Government Levels Affected: None
Agency Contact: Rodney D. Ray, Counsel, Legal Division, Federal Deposit
Insurance Corporation
Phone: 202 898-3556
RIN: 3064-AB88
_____________________________________________________________________________________

3846. 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 6142
NPRM Comment Period End 04/14/97
Withdrawn 03/14/02
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
Phone: 202 898-8807
RIN: 3064-AB99
______________________________________________________________________________________

3847. CAPITAL; LEVERAGE AND RISK-BASED CAPITAL GUIDELINES; CAPITAL
ADEQUACY GUIDELINES; CAPITAL MAINTENANCE: RESIDUAL INTERESTS IN ASSET
SECURITIZATIONS OR OTHER TRANSFERS OF FINANCIAL ASSETS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC
1818(a) to 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; 12 USC 3907; 12 USC 3909; 12 USC 4808; PL 102-233;
105 Stat 1761; 105 Stat 1789
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: This interagency rulemaking amends capital rules to restrict excessive concentrations in residual interests by limiting the amounts that are included in Tier 1 capital for both leverage and risk-based
capital purposes. Residual interests in excess of this limitation would be deducted from Tier 1 capital. The rulemaking also requires that risk-based capital be held in an amount equal to the amount of residual
interests that are within this limitation. This rulemaking and the rulemaking on recourse and direct credit substitutes (see 3064-AB31) are interrelated in that both address the
[[Page 34154]]
regulatory capital treatment for residual interests in securitizations and other financial asset transfers. The agencies participating in these two rulemakings are ensuring that the treatment of residual
interests will be consistent and may issue a single combined final rule rather than separate final rules.
Timetable:
_____________________________________________________________________________________
Action Date FR Cite
_____________________________________________________________________________________
NPRM 09/27/00 65 FR 57993
NPRM Comment Period End 12/26/00
Final Action 11/29/01 66 FR 59614
Final Action Effective 01/01/02
Regulatory Flexibility Analysis Required: No
Government Levels Affected: None
Agency Contact: Keith Ligon, Chief, Policy Unit, Division of
Supervision, Federal Deposit Insurance Corporation
Phone: 202 898-3618
RIN: 3064-AC34
______________________________________________________________________________________

3848. CAPITAL; LEVERAGE AND RISK-BASED CAPITAL GUIDELINES; CAPITAL
ADEQUACY GUIDELINES; CAPITAL MAINTENANCE; NONFINANCIAL EQUITY
INVESTMENTS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC
1818(a) to 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; 12 USC 3907; 12 USC 3909; 12 USC 4808; PL 102-233;
105 Stat 1761; 105 Stat 1789; PL 102-242; 105 Stat 2236
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: This rulemaking, sponsored jointly by the OCC, the FRS and the FDIC, amends respective risk-based and leverage capital standards for banks and bank holding companies with respect to the capital
treatment of nonfinancial equity investments. The rule would deduct from Tier 1 capital certain percentages of the adjusted carrying value of all nonfinancial equity investments.
Timetable:
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Action Date FR Cite
______________________________________________________________________________________
NPRM 02/14/01 66 FR 10212
NPRM Comment Period End 04/16/01
Final Action 01/25/02 67 FR 3784
Final Action Effective 04/01/02
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
Phone: 202 898-8904
RIN: 3064-AC47
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3849. <bullet> TECHNICAL AMENDMENTS TO FDIC REGULATIONS RELATING TO FORMS,
INSTRUCTIONS, AND REPORTS
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 1817
CFR Citation: 12 CFR 304
Legal Deadline: None
Abstract: This rulemaking revises the FDIC regulation on forms, instructions and reports. The rulemaking also eliminates obsolete and incorrect references.
Timetable:
______________________________________________________________________________________
Action Date FR Cite
______________________________________________________________________________________
Final Action 04/17/02 67 FR 18793
Regulatory Flexibility Analysis Required: No
Small Entities Affected: No
Government Levels Affected: None
Agency Contact: Philip Houle, Counsel, Legal Division, Federal Deposit Insurance Corporation
Phone: 202 898-3722
RIN: 3064-AC52
[FR Doc. 02-7695 Filed 05-10-02; 8:45 am]
BILLING CODE 6714-01-S

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Last Updated 05/13/2002 regs@fdic.gov