[Federal Register Volume 69, Number 245 (Wednesday, December 22, 2004)]
[Rules and Regulations]
[Pages 76601-76603]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-27978]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Office of Thrift Supervision

12 CFR Parts 506, 516, 541, 560, 563, 564, 567 and 570

[No. 2004-59]


Technical Amendments

AGENCY: Office of Thrift Supervision, Treasury.

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: The Office of Thrift Supervision (OTS) is amending its 
regulations to incorporate a number of technical and conforming 
amendments. They include clarifications and corrections of 
typographical errors.

EFFECTIVE DATE: December 22, 2004.

FOR FURTHER INFORMATION CONTACT: Marilyn K. Burton, Senior Paralegal 
(Regulations), (202) 906-6467, or Karen A. Osterloh, Special Counsel, 
(202) 906-6639, Regulations and Legislation Division, Chief Counsel's 
Office, Office of Thrift Supervision, 1700 G Street, NW., Washington, 
DC 20552.

SUPPLEMENTARY INFORMATION: OTS is amending its regulations to 
incorporate a number of technical and conforming amendments. OTS is 
making the following miscellaneous changes:
     Part 506--Information Collection Requirements under the 
Paperwork Reduction Act (PRA). The final rule updates the table 
displaying the OMB control numbers assigned to various OTS regulations 
under the PRA by correcting references to two control numbers. See 12 
CFR 506.1(b).
     Part 516--Application Processing Guidelines and 
Procedures. The final rule updates Sec.  516.40 to include the current 
address for OTS's Northeast Regional Offices and makes technical 
changes to the addresses for OTS's Midwest and West Regions.
     Part 541--Definitions for Regulations Affecting Federal 
Savings Associations. The final rule revises the definition of single 
family dwelling in Sec.  541.25 to conform to the structure of other 
definitions in the part.
     Part 560--Lending and Investment. The final rule corrects 
a typographical error in Sec.  560.93(b)(9).
     Part 563--Savings Associations--Operations. The final rule 
corrects a typographical error in Sec.  563.43(f).
     Part 564--Appraisals. The final rule removes an outdated 
note from part 564.
     Parts 567--Capital. This final rule reinstates subsections 
(a)(2)(v)(B) and (C) to Sec.  567.6, which were inadvertently removed 
by the final rule published on July 28, 2004 (69 FR 44908).
     Part 570--Safety and Soundness Guidelines and Compliance 
Procedures. The final rule updates references in Sec.  570.1(c).

Administrative Procedure Act; Riegle Community Development and 
Regulatory Improvement Act of 1994

    OTS finds that there is good cause to dispense with prior notice 
and comment on this final rule and with the 30-day delay of effective 
date mandated by the Administrative Procedure Act.\1\ OTS believes that 
these procedures are unnecessary and contrary to public interest 
because the rule merely makes technical changes to existing provisions. 
Because the amendments in the rule are not substantive, these changes 
will not affect savings associations.
---------------------------------------------------------------------------

    \1\ 5 U.S.C. 553.
---------------------------------------------------------------------------

    Section 302 of the Riegle Community Development and Regulatory 
Improvement Act of 1994 provides that regulations that impose 
additional reporting, disclosure, or other new requirements may not 
take effect before the first day of the quarter following publication. 
\2\ This section does not apply because this final rule imposes no 
additional requirements and makes only technical changes to existing 
regulations.
---------------------------------------------------------------------------

    \2\ Pub. L. No. 103-325, 12 U.S.C. 4802.
---------------------------------------------------------------------------

Regulatory Flexibility Act

    Pursuant to section 605(b) of the Regulatory Flexibility Act,\3\ 
the OTS Director certifies that this technical corrections regulation 
will not have a significant economic impact on a substantial number of 
small entities.
---------------------------------------------------------------------------

    \3\ Pub. L. No. 96-354, 5 U.S.C. 601.
---------------------------------------------------------------------------

Executive Order 12866

    OTS has determined that this rule is not a ``significant regulatory 
action'' for purposes of Executive Order 12866.

Unfunded Mandates Reform Act of 1995

    OTS has determined that the requirements of this final rule will 
not result in expenditures by State, local, and tribal governments, or 
by the private sector, of $100 million or more in any one year. 
Accordingly, a budgetary impact statement is not required under section 
202 of the Unfunded Mandates Reform Act of 1995.

List of Subjects

12 CFR Part 506

    Reporting and recordkeeping requirements.

12 CFR Part 516

    Administrative practice and procedure, Reporting and recordkeeping 
requirements, Savings associations.

12 CFR Part 541

    Savings associations.

12 CFR Part 560

    Consumer protection, Investments, Manufactured homes, Mortgages, 
Reporting and recordkeeping requirements, Savings associations, 
Securities.

12 CFR Part 563

    Accounting, Advertising, Crime, Currency, Investments, Reporting 
and

[[Page 76602]]

recordkeeping requirements, Savings associations, Securities, Surety 
bonds.

12 CFR Part 564

    Appraisals, Mortgages, Real estate appraisal, Reporting and 
recordkeeping requirements, Savings associations.

12 CFR Part 567

    Capital, Savings associations.

12 CFR Part 570

    Accounting, Administrative practice and procedure, Bank deposit 
insurance, Holding companies, Reporting and recordkeeping requirements, 
Safety and soundness, Savings associations.

0
Accordingly, the Office of Thrift Supervision amends title 12, chapter 
V of the Code of Federal Regulations, as set forth below.

PART 506--INFORMATION COLLECTION REQUIREMENTS UNDER THE PAPERWORK 
REDUCTION ACT

0
1. The authority citation for part 506 continues to read as follows:

    Authority: 44 U.S.C. 3501 et seq.

0
2. Amend the table in Sec.  506.1(b) by revising the entries for 
Sec. Sec.  544.2 and 559.11 to read as follows:


Sec.  506.1  OMB control numbers assigned pursuant to the Paperwork 
Reduction Act.

* * * * *
    (b) Display.

------------------------------------------------------------------------
                                                             Current OMB
   12 CFR part or section where identified and described     control No.
------------------------------------------------------------------------
 
                                * * * * *
544.2......................................................    1550-0018
 
                                * * * * *
559.11.....................................................    1550-0077
 
                                * * * * *
------------------------------------------------------------------------

PART 516--APPLICATION PROCESSING PROCEDURES

0
3. The authority citation for part 516 continues to read as follows:

    Authority: 5 U.S.C. 552, 559; 12 U.S.C. 1462a, 1463, 1464, 2901 
et seq.


0
4. Revise the Office Addresses for the Northeast, Midwest and West 
Regions in the chart at Sec.  516.40(a)(2) to read as follows:


Sec.  516.40  Where do I file my application?

    (a) * * *
    (2) The addresses of each Regional Office and the states covered by 
each office are:

----------------------------------------------------------------------------------------------------------------
                Region                                  Office address                        States served
----------------------------------------------------------------------------------------------------------------
Northeast............................  Office of Thrift Supervision, Harborside          * * * * *
                                        Financial Center Plaza Five, Suite 1600, Jersey
                                        City, New Jersey 07311.
 
                                                  * * * * * * *
Midwest..............................  Office of Thrift Supervision, 225 E. John         * * * * *
                                        Carpenter Freeway, Suite 500, Irving, Texas
                                        75062-2326 (Mail to: P.O. Box 619027, Dallas/
                                        Ft. Worth, Texas 75261-9027).
West.................................  Office of Thrift Supervision, Pacific Plaza,       * * * * *
                                        2001 Junipero Serra Boulevard, Suite 650, Daly
                                        City, California 94014-1976 (Mail to: P.O. Box
                                        7165, SanFrancisco, California 94120-7165).
----------------------------------------------------------------------------------------------------------------

* * * * *

PART 541--DEFINITIONS FOR REGULATIONS AFFECTING FEDERAL SAVINGS 
ASSOCIATIONS

0
5. The authority citation for part 541 continues to read as follows:

    Authority: 12 U.S.C. 1462a, 1463, 1464.


0
6. Revise Sec.  541.25 to read as follows:


Sec.  541.25  Single-family dwelling.

    The term single-family dwelling means a structure designed for 
residential use by one family, or a unit so designed, whose owner owns, 
directly or through a non-profit cooperative housing organization, an 
undivided interest in the underling real estate, including property 
owned in common with others which contributes to the use and enjoyment 
of the structure or unit.

PART 560--LENDING AND INVESTMENT

0
7. The authority citation for part 560 continues to read as follows:

    Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 1701j-3, 
1828, 3803, 3806; 42 U.S.C. 4106.


Sec.  560.93  [Amended]

0
8. Amend Sec.  560.93(b)(9) by removing ``Sec.  541.20'' and by adding 
in lieu thereof ``Sec.  541.25''.

PART 563--SAVINGS ASSOCIATIONS--OPERATIONS

0
9. The authority citation for part 563 continues to read as follows:

    Authority: 12 U.S.C. 375b, 1462, 1462a, 1463, 1464, 1467a, 1468, 
1817, 1820, 1828, 1831o, 3806; 31 U.S.C. 5318; 42 U.S.C. 4106.


Sec.  563.43  [Amended]

0
10. Amend Sec.  563.43(f) by removing ``Sec.  563.93(b)(11)'' and by 
adding in lieu thereof ``Sec.  560.93(b)(11)''.

PART 564--APPRAISALS

0
11. The authority citation for part 564 continues to read as follows:

    Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1828(m), 3331 et 
seq.

PART 564--[AMENDED]

0
12. Amend part 564 by removing the note immediately following the 
authority citations.

PART 567--CAPITAL

0
13. The authority citation for part 567 continues to read as follows:

    Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 1828 (note)


0
14. Revise Sec.  567.6(a)(2)(v) to read as follows:


Sec.  567.6  Risk-based capital credit risk-weight categories.

    (a) * * *
    (2) * * *
    (v) Zero percent credit conversion factor (Group E). (A) Unused 
portions of commitments with an original maturity of one year or less, 
except for eligible ABCP liquidity facilities;
    (B) Unused commitments with an original maturity greater than one 
year, if they are unconditionally cancelable at any time at the option 
of the savings association and the savings association has the 
contractual right to make, and in fact does make, either:

[[Page 76603]]

    (1) A separate credit decision based upon the borrower's current 
financial condition before each drawing under the lending facility; or
    (2) An annual (or more frequent) credit review based upon the 
borrower's current financial condition to determine whether or not the 
lending facility should be continued; and
    (C) The unused portion of retail credit card lines or other related 
plans that are unconditionally cancelable by the savings association in 
accordance with applicable law.
* * * * *

PART 570--SAFETY AND SOUNDNESS GUIDELINES AND COMPLIANCE PROCEDURES

0
15. In the Table of Contents for part 570, the heading for appendix B 
is revised by removing ``Interagency Guidelines Establishing Year 2000 
Standards for Safety and Soundness'' and inserting ``Interagency 
Guidelines Establishing Standards for Safeguarding Customer 
Information''.

0
16. The authority citation for part 570 continues to read as follows:

    Authority: 12 U.S.C. 1831p-1.


0
17. Revise Sec.  570.1(c) to read as follows:


Sec.  570.1  Authority, purpose, scope and preservation of existing 
authority.

* * * * *
    (c) Scope. This part and the Interagency Guidelines Establishing 
Standards for Safety and Soundness as set forth at appendix A to this 
part and the Interagency Guidelines Establishing Standards for 
Safeguarding Customer Information at appendix B to this part implement 
the provisions of section 39 of the FDI Act as they apply to savings 
associations.
* * * * *

    Dated: December 17, 2004.

    By the Office of Thrift Supervision.
James E. Gilleran,
Director.
[FR Doc. 04-27978 Filed 12-21-04; 8:45 am]
BILLING CODE 6720-01-P