[Federal Register Volume 79, Number 150 (Tuesday, August 5, 2014)]
[Proposed Rules]
[Page 45380]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-18261]


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FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 390

RIN 3064-AE17


Transferred OTS Regulations Regarding Possession by Conservators 
and Receivers for Federal and State Savings Associations.

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Notice of proposed rulemaking.

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SUMMARY: On July 21, 2014, the Federal Deposit Insurance Corporation 
(FDIC) caused a document entitled ``Transferred OTS Regulations 
Regarding Possession by Conservators and Receivers for Federal and 
State Savings Associations'' to be published in the Federal Register. 
The effect of this publication was to give notice of a proposed 
rulemaking to rescind and remove regulations regarding possession by 
conservators and receivers for federal and state savings associations, 
which are no longer necessary in light of or contradict provisions of 
the Federal Deposit Insurance Act and are not in accordance with FDIC 
practice and procedures.
    It has come to the attention of FDIC that the document submitted to 
the Federal Register was an early draft of the notice and not the final 
version approved by FDIC Board of Directors. FDIC is, therefore, 
withdrawing the document published July 21, 2014, and publishing the 
correct version elsewhere in the Federal Register today.

DATES: The notice of proposed rulemaking published on July 21, 2014 at 
79 FR 42235 is withdrawn as of July 29, 2014.

FOR FURTHER INFORMATION CONTACT: Frank C. Campagna, Associate Director, 
Receivership Operations, Division of Resolutions and Receiverships 
(972) 761-8025 or [email protected]; Manuel E. Cabeza, Counsel, Legal 
Division (703) 562-2434 or [email protected]; or Shane Kiernan, Counsel, 
Legal Division (703) 562-2632 or [email protected].

SUPPLEMENTARY INFORMATION: Section 316(b)(3) of the Dodd-Frank Act \1\ 
provides that the former OTS's regulations will continue in effect 
until they are modified, terminated, set aside, or superseded in 
accordance with applicable law. After careful review of subpart N of 
part 390, the FDIC proposes that it be rescinded and removed because it 
is unnecessary, or because it prescribes actions that are duplicative 
of actions taken by the OCC or state chartering authority. The FDIC 
believes that the provisions of the FDI Act and the FDIC's existing 
policies and procedures sufficiently address the provision of notice of 
appointment and the authority to take possession of, and exercise 
control over, the assets of a failed institution, including insured 
Federal and State savings associations.
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    \1\ 12 U.S.C. 5414(c).
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    The complete history and background for the FDIC's removal and 
rescission of the subpart is included in the notice of proposed 
rulemaking published elsewhere in today's Federal Register.

    Dated at Washington, DC, this 29th day of July, 2014.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2014-18261 Filed 8-4-14; 8:45 am]
BILLING CODE 6714-01-P