The Federal Deposit Insurance Corporation has published its
semiannual agenda of regulations to inform the public of the
corporation's regulatory actions and to heighten participation in
the rulemaking process.
Many of the regulations included in this agenda are in
response to the Community Development and Regulatory Improvement
Act (CDRI) of 1994, the Federal Deposit Insurance Corporation
Improvement Act (FDICIA) of 1991 and the Financial Institutions
Reform, Recovery, and Enforcement Act (FIRREA) of 1989. Of the 41
final or potential changes to the FDIC's regulations, one is in
the prerule stage, eight are in the proposed rule stage, 15 are
The regulation in the prerule stage involves defining being
"engaged in the business of receiving deposits other than trust
funds" for deposit insurance purposes.
In the proposed rule stage are regulatory proposals on
disciplinary actions against independent public accountants,
limiting "golden parachute" and indemnification payments,
preventing the sale of assets to persons who contributed to the
demise of an institution that fails, and lowering the capital requirements on certain small business obligations transferred with recourse.
In the final rule stage are regulations that set a new Bank
Insurance Fund assessment rate schedule of four to 31 cents per
$100 of insured deposits, while leaving the Savings Association
Insurance Fund premiums unchanged at a range of 23 cents to 31
cents per $100. Other regulations in this stage concern changing
the capital required for future credit exposure for off-balance-
sheet contracts, reducing the burden of annual audit and
reporting requirements, setting standards for conflicts of
interest and ethical responsibilities for contractors doing
business with the FDIC.
The completed actions deal with lessening the burden of
applying for a merger, revising risk-based capital standards to
account for concentration of credit risk and nontraditional
activities. Also, the agency withdrew some proposals, including
one on contracts adverse to the safety and soundness of insured
The FDIC's complete semiannual agenda appeared in the
Federal Register of May 8, 1995.