[Federal Register Volume 83, Number 78 (Monday, April 23, 2018)]
[Rules and Regulations]
[Pages 17616-17617]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-08359]


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FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 324

RIN 3064-AE12


Regulatory Capital Rules: Regulatory Capital, Final Revisions 
Applicable to Banking Organizations Subject to the Advanced Approaches 
Risk-Based Capital Rule

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Final rule; technical amendment.

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SUMMARY: The FDIC is issuing this technical amendment to return text to 
its regulations that was altered due to a procedural error that allowed 
a 2014 rule to become effective on January 1, 2018. FDIC did not intend 
for the 2014 rule to become effective but did not rescind it before its 
effective date. This rule returns text to a section on capital measures 
and capital category definitions as it appeared before the codification 
of the 2014 rule.

[[Page 17617]]


DATES: April 23, 2018 and applicable beginning April 15, 2016.

FOR FURTHER INFORMATION CONTACT: Valerie J. Best, Supervisory Counsel 
(Assistant Executive Secretary), [email protected], ph. 202-898-3812; or 
Michael Phillips, Counsel, [email protected]; Legal Division, Federal 
Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 
20429.

SUPPLEMENTARY INFORMATION: This document sets out the text of Sec.  
324.403(b)(1)(v) as adopted by the FDIC Board of Directors on June 16, 
2015. This technical correction is needed to rescind the impact of a 
delayed effective date initially prescribed in 2014. On April 8, 2014, 
the FDIC issued revisions to Sec.  324.403(b)(1)(v), with a delayed 
effective date of January 1, 2018. 79 FR 24528 at 24541 (May 1, 2014). 
On July 15, 2015, the FDIC revised Sec.  324.403(b)(1)(i) through (vi). 
80 FR 41409 at 41426 (July 15, 2015). In the 2015 Federal Register the 
FDIC specified an effective date of October 1, 2015, but did not 
specifically rescind the delayed effective date prescribed in the 2014 
Federal Register. On April 12, 2016, the FDIC issued a correcting 
amendment with respect to Sec.  324.403 but, again, did not 
specifically rescind the delayed effective date prescribed in the 2014 
Federal Register. Because the FDIC did not specifically rescind the 
delayed effective date, when the delayed effective date occurred on 
January 1, 2018, the text of Sec.  324.403(b)(1)(v) reverted to the 
text as it appeared in the 2014 Federal Register. But, because the FDIC 
Board had adopted revisions to the text of Sec.  324.403(b)(1)(v) and 
(vi) in 2015, as illustrated in the 2015 and 2016 Federal Registers, 
the effect, if uncorrected, is that the text of paragraph (v) 
duplicates the text of paragraph (vi).

List of Subjects in 12 CFR Part 324

    Administrative practice and procedure, Banks, Banking, Capital 
adequacy, Reporting and recordkeeping requirements, Savings 
associations, State non-member banks.

12 CFR CHAPTER III

Authority and Issuance

    For the reasons stated in the preamble, the Federal Deposit 
Insurance Corporation amends part 324 of chapter III of Title 12, Code 
of Federal Regulations as follows:

PART 324--CAPITAL ADEQUACY

0
1. The authority citation for part 324 continues to read as follows:

    Authority:  12 U.S.C. 1815(a), 1815(b), 1816, 1818(a), 1818(b), 
1818(c), 1818(t), 1819 (Tenth), 1828(c), 1828(d), 1828(i), 1828(n), 
1828(o), 1831o, 1835, 3907, 3909, 4808; 5371; 5412; Pub. L. 102-233, 
105 Stat. 1761, 1789, 1790 (12 U.S.C. 1831n note); Pub. L. 102-242, 
105 Stat. 2236, 2355, as amended by Pub. L. 103-325, 108 Stat. 2160, 
2233 (12 U.S.C. 1828 note); Pub. L. 102-242, 105 Stat. 2236, 2386, 
as amended by Pub. L. 102-550, 106 Stat. 3672, 4089 (12 U.S.C. 1828 
note); Pub. L. 111-203, 124 Stat. 1376, 1887 (15 U.S.C. 78o-7 note).


0
2. In Sec.  324.403, revise paragraph (b)(1)(v) to read as follows:


Sec.  324.403   Capital measures and capital category definitions.

* * * * *
    (b) * * *
    (1) * * *
    (v) Is not subject to any written agreement, order, capital 
directive, or prompt corrective action directive issued by the FDIC 
pursuant to section 8 of the FDI Act (12 U.S.C. 1818), the 
International Lending Supervision Act of 1983 (12 U.S.C. 3907), or the 
Home Owners' Loan Act (12 U.S.C. 1464(t)(6)(A)(ii)), or section 38 of 
the FDI Act (12 U.S.C. 1831o), or any regulation thereunder, to meet 
and maintain a specific capital level for any capital measure; and
* * * * *

    Dated at Washington, DC, on April 17, 2018.

Federal Deposit Insurance Corporation.
Valerie Best,
Assistant Executive Secretary.
[FR Doc. 2018-08359 Filed 4-20-18; 8:45 am]
 BILLING CODE 6714-01-P