[Federal Register Volume 73, Number 244 (Thursday, December 18, 2008)]
[Rules and Regulations]
[Pages 76938-76940]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-30021]


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DEPARTMENT OF THE TREASURY

Office of Thrift Supervision

12 CFR Parts 516 and 575

[OTS No. 2008-0023]


Technical Amendments

AGENCY: Office of Thrift Supervision, Treasury.

ACTION: Final rule.

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

DATES: Effective Date: December 18, 2008.

FOR FURTHER INFORMATION CONTACT: Sandra E. Evans, Legal Information 
Assistant (Regulations), (202) 906-6076, or Marvin Shaw, Senior 
Attorney, (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

[[Page 76939]]

technical and conforming amendments. OTS is making the following 
miscellaneous changes:
    Section 516.40--Application Processing Procedures. The final rule 
revises the table in 12 CFR 516.40 to add contact information for the 
agency's Central region.
    Sections 575.9 and 575.14--Optional Charter Provisions in Mutual 
Holding Company Structures. OTS permits certain MHC subsidiaries to 
adopt an optional charter provision that would prohibit any person from 
acquiring, or offering to acquire beneficial ownership of more than ten 
percent of the MHC subsidiary's minority stock (stock held by persons 
other than the subsidiary's MHC).\1\ This final rule modifies the 
instruction contained in sections 12 CFR 575.9(c) and 575.14(c)(3) to 
read: ``[insert date within five years of a minority stock issuance] * 
* *.'' Today's change corrects the July final rule which inadvertently 
stated ``[insert date of minority stock issuance].''
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    \1\ See 73 FR 39216 (July 9, 2008).
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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.\2\ 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.
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    \2\ 5 U.S.C. 553.
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    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.\3\ This section does not apply because this final rule 
imposes no additional requirements and makes only technical changes to 
existing regulations.
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    \3\ Pub. L. 103-325, 12 U.S.C. 4802.
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Regulatory Flexibility Act

    Pursuant to section 605(b) of the Regulatory Flexibility Act,\4\ 
the OTS Director certifies that this technical corrections regulation 
will not have a significant economic impact on a substantial number of 
small entities.
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    \4\ Pub. L. 96-354, 5 U.S.C. 601.
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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 516

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

12 CFR Part 575

    Administrative practice and procedure, Capital, Holding companies, 
Reporting and recordkeeping requirements, Savings Associations, 
Securities.

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

PART 516--APPLICATION PROCESSING PROCEDURES

0
1. 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
2. Revise the table in Sec.  516.40(a)(2) to read as follows:


Sec.  516.40  Where do I file my application?

    (a) * * *
    (2) * * *

 
------------------------------------------------------------------------
       Region              Office address             States served
------------------------------------------------------------------------
Northeast...........  Office of Thrift          Connecticut, Delaware,
                       Supervision, Harborside   Maine, Massachusetts,
                       Financial Center, Plaza   New Hampshire, New
                       Five, Suite 1600,         Jersey, New York,
                       Jersey City, New Jersey   Pennsylvania, Rhode
                       07311.                    Island, Vermont, West
                                                 Virginia.
Southeast...........  Office of Thrift          Alabama, District of
                       Supervision, 1475         Columbia, Florida,
                       Peachtree Street, NW.,    Georgia, Kentucky,
                       Atlanta, Georgia 30309    Maryland, North
                       (Mail Stop: P.O. Box      Carolina, Puerto Rico,
                       105217, Atlanta,          South Carolina,
                       Georgia 30348-5217).      Virginia, the Virgin
                                                 Islands.
Central.............  Office of Thrift          Illinois, Indiana, Ohio,
                       Supervision, 1 South      Michigan, Wisconsin.
                       Wacker Drive, Suite
                       2000, Chicago, Illinois
                       60606.
Midwest.............  Office of Thrift          Arkansas, Iowa, Kansas,
                       Supervision, 225 E.       Louisiana, Mississippi,
                       John Carpenter Freeway,   Missouri Nebraska,
                       Suite 500, Irving,        Oklahoma, Tennessee,
                       Texas 75062-2326 (Mail    Texas.
                       to: P.O. Box 619027,
                       Dallas/Ft. Worth, Texas
                       75261-9027.
West................  Office of Thrift          Alaska, Arizona,
                       Supervision, Pacific      California, Colorado,
                       Plaza, 2001 Junipero      Guam, Hawaii, Idaho,
                       Serra Boulevard, Suite    Montana, Nevada, New
                       650, Daly City,           Mexico, North Dakota,
                       California.               Northern Mariana
                                                 Islands, Oregon, South
                                                 Dakota, Utah,
                                                 Washington, Wyoming.
------------------------------------------------------------------------

* * * * *

PART 575--MUTUAL HOLDING COMPANIES

0
3. The authority citation for 12 CFR part 575 continues to read as 
follows:

    Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 1828, 2901.


Sec.  575.9  [Amended]

0
4. Amend the second paragraph of Sec.  575.9(c) by adding the phrase 
``within five years'' after the word ``date'' in the bracketed language 
of the second sentence.


Sec.  575.14  [Amended]

0
5. Amend the second paragraph of Sec.  575.14(c)(3) by adding the 
phrase ``within five years'' after the word

[[Page 76940]]

``date'' in the bracketed language of the second sentence.

    Dated: December 11, 2008.

    By the Office of Thrift Supervision.
John M. Reich,
Director.
[FR Doc. E8-30021 Filed 12-17-08; 8:45 am]
BILLING CODE 6720-01-P