[Federal Register Volume 84, Number 196 (Wednesday, October 9, 2019)]
[Proposed Rules]
[Pages 54045-54046]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-21966]


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FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 390

RIN 3064-AF13


Removal of Transferred OTS Regulations Regarding Reporting 
Requirements, Regulatory Reports and Audits of State Savings 
Associations

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of proposed rulemaking; supplemental notice.

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SUMMARY: On October 2, 2019, the Federal Deposit Insurance Corporation 
(FDIC) issued a notice of proposed rulemaking with request for comments 
on a proposal that would rescind and remove from the Code of Federal 
Regulations 12 CFR part 390, subpart R, entitled Regulatory Reporting 
Standards (part 390, subpart R). The FDIC is supplementing that notice 
of proposed rulemaking with an updated regulatory flexibility analysis 
to reflect a few typographical changes.

DATES: Comments on the updated regulatory flexibility analysis must be 
received on or before November 8, 2019.

[[Page 54046]]


ADDRESSES: You may submit comments by any of the following methods:
     FDIC Website: https://www.fdic.gov/regulations/laws/federal/. Follow instructions for submitting comments on the agency 
website.
     Email: [email protected]. Include RIN 3064-AF13 on the 
subject line of the message.
     Mail: Robert E. Feldman, Executive Secretary, Attention: 
Comments, Federal Deposit Insurance Corporation, 550 17th Street NW, 
Washington, DC 20429.
     Hand Delivery to FDIC: Comments may be hand-delivered to 
the guard station at the rear of the 550 17th Street Building (located 
on F Street) on business days between 7 a.m. and 5 p.m.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
    Please include your name, affiliation, address, email address, and 
telephone number(s) in your comment. All statements received, including 
attachments and other supporting materials, are part of the public 
record and are subject to public disclosure. You should submit only 
information that you wish to make publicly available.
    Public Inspection: All comments received will be posted generally 
without change to https://www.fdic.gov/regulations/laws/federal/, 
including any personal information provided.

FOR FURTHER INFORMATION CONTACT:  Ryan T. Singer, Chief, Regulatory 
Analysis Section, Division of Insurance and Research, (202) 898-7352, 
[email protected]; Jennifer M. Jones, Counsel, Legal Division, (202) 
898-6768, [email protected].

SUPPLEMENTARY INFORMATION: On October 2, 2019, the FDIC issued a notice 
of proposed rulemaking with request for comments on a proposal that 
would rescind and remove from the Code of Federal Regulations 12 CFR 
part 390, subpart R, entitled Regulatory Reporting Standards (part 390, 
subpart R). (See 84 FR 52387 (October 2, 2019).) The FDIC is 
supplementing that notice of proposed rulemaking with an updated 
regulatory flexibility analysis to reflect a few typographical changes.

Updated Regulatory Flexibility Act

    The Regulatory Flexibility Act (RFA), requires that, in connection 
with a notice of proposed rulemaking, an agency prepare and make 
available for public comment an initial regulatory flexibility analysis 
that describes the impact of the proposed rule on small entities.\1\ 
However, a regulatory flexibility analysis is not required if the 
agency certifies that the rule will not have a significant economic 
impact on a substantial number of small entities, and publishes its 
certification and a short explanatory statement in the Federal Register 
together with the rule. The Small Business Administration (SBA) has 
defined ``small entities'' to include banking organizations with total 
assets of less than or equal to $600 million.\2\ Generally, the FDIC 
considers a significant effect to be a quantified effect in excess of 5 
percent of total annual salaries and benefits per institution, or 2.5 
percent of total non-interest expenses. The FDIC believes that effects 
in excess of these thresholds typically represent significant effects 
for FDIC-supervised institutions. For the reasons provided below, the 
FDIC certifies that the proposed rule, if adopted in final form, would 
not have a significant economic impact on a substantial number of small 
banking organizations. Accordingly, a regulatory flexibility analysis 
is not required.
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    \1\ 5 U.S.C. 601, et seq.
    \2\ The SBA defines a small banking organization as having $600 
million or less in assets, where an organization's ``assets are 
determined by averaging the assets reported on its four quarterly 
financial statements for the preceding year.'' See 13 CFR 121.201 
(as amended, by 84 FR 34261, effective August 19, 2019). In its 
determination, ``SBA counts the receipts, employees, or other 
measure of size of the concern whose size is at issue and all of its 
domestic and foreign affiliates.'' See 13 CFR 121.103. Following 
these regulations, the FDIC uses a covered entity's affiliated and 
acquired assets, averaged over the preceding four quarters, to 
determine whether the covered entity is ``small'' for the purposes 
of the RFA.
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    As of March 31, 2019,\3\ the FDIC supervised 3,465 insured 
financial institutions, of which 2,705 are considered small banking 
organizations for the purposes of RFA. The proposed rule primarily 
affects regulations that govern State savings associations. There are 
36 State savings associations considered to be small banking 
organizations for the purposes of the RFA.\4\
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    \3\ March 31, 2019, is the most recent period for which the 
FDIC's ``small entity'' designations for depository institutions are 
available.
    \4\ Based on data from the March 31, 2019, Call Report and FFIEC 
002 Report of Assets and Liabilities of U.S. Branches and Agencies 
of Foreign Bank.
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    As explained previously, the proposed rule would remove sections 
390.320, 390.321 and 390.332 of part 390, subpart R because these 
sections are redundant or otherwise unnecessary in light of applicable 
statutes and other FDIC regulations. As a result, rescinding the 
regulations would not have any substantive effects on small FDIC-
supervised institutions.
    Based on the information above, the FDIC certifies that the 
proposed rule would not have a significant economic impact on a 
substantial number of small entities. The FDIC invites comments on all 
aspects of the supporting information provided in this RFA section. In 
particular, would this rule have any significant effects on small 
entities that the FDIC has not identified?

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on October 3, 2019.
Annmarie H. Boyd,
Assistant Executive Secretary.
[FR Doc. 2019-21966 Filed 10-8-19; 8:45 am]
 BILLING CODE 6714-01-P