TO:
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CHIEF EXECUTIVE OFFICER
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SUBJECT:
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Final Rule Governing Filing
Procedures and Other Provisions (12 C.F.R. Parts 303, 333, 347, 348 and 359)
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Summary:
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Revisions (primarily technical
amendments) have been made to the regulations on Filing Procedures, Corporate
Powers, International Banking, Management Official Interlocks, and Golden
Parachute and Indemnification Payments.
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The Federal Deposit Insurance Corporation (FDIC) Board of Directors has approved the
attached technical revisions and modifications to 12 C.F.R. Part 303 and technical
corrections to other regulations in Chapter III of the FDIC's Rules and Regulations. The
final rule also adds a provision allowing the FDIC Board of Directors to waive, for good
cause, nonstatutorily mandated provisions contained in Chapter III.
The changes to Part 303 and the technical corrections to other regulations in Chapter III
clarify:
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The rules relating to time period commencements;
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The FDIC's response time for certain filings;
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The required rating for expedited processing for thrift and thrift holding company
filings;
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That the acquisition of control of a parent company of a state nonmember bank generally
requires a change in control notice; and
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The certification to be made by an insured depository institution relating to golden
parachute payments.
Revisions also correct cross-references between Part 303 and the substantive regulations in
Chapter III.
For your reference, FDIC Financial Institution Letters (FILs) may be accessed from the
FDIC's Web site at
http://www.fdic.gov/news/financial-institution-letters/2003/index.html
.
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Michael J. Zamorski
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Director
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Attachment: August 21, 2003, Federal Register, pages 50457-50461
HTML
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PDF
(51 KB File -
PDF Help
or
Hard Copy
)
Distribution: All FDIC-Insured Depository Institutions
NOTE: Paper copies of FDIC financial institution letters may be obtained through the
FDIC’s Public Information Center, 801 17th Street, NW, Room 100, Washington, DC
20434 (1-877-275-3342, option 5, or (703) 562-2200).
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