[Federal Register Volume 84, Number 232 (Tuesday, December 3, 2019)]
[Rules and Regulations]
[Page 66063]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-26066]



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 Rules and Regulations
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  Federal Register / Vol. 84, No. 232 / Tuesday, December 3, 2019 / 
Rules and Regulations  

[[Page 66063]]



FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 351

RIN 3064-AE67


Prohibitions and Restrictions on Proprietary Trading and Certain 
Interests in, and Relationships With, Hedge Funds and Private Equity 
Funds; Corrections

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Final rule; correcting amendments.

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SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is correcting 
a final rule that appeared in the Federal Register on Thursday, 
November 14, 2019, regarding Prohibitions and Restrictions on 
Proprietary Trading and Certain Interests in, and Relationships With, 
Hedge Funds and Private Equity Funds. These corrections are necessary 
to standardize the language in the FDIC regulations with the other 
agencies' regulations.

DATES: Effective January 1, 2020.

FOR FURTHER INFORMATION CONTACT: Bobby R. Bean, Associate Director, 
[email protected], Andrew D. Carayiannis, Senior Policy Analyst, 
[email protected], or Brian Cox, Senior Policy Analyst, 
[email protected], Capital Markets Branch, (202) 898-6888; Michael B. 
Phillips, Counsel, [email protected], or Benjamin J. Klein, Counsel, 
[email protected], Legal Division, Federal Deposit Insurance Corporation, 
550 17th Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION: On November 14, 2019, the Office of the 
Comptroller of the Currency (OCC), Board of Governors of the Federal 
Reserve System (Board), FDIC, Securities and Exchange Commission (SEC), 
and Commodity Futures Trading Commission (CFTC) (collectively, the 
agencies) published a final rule, Prohibitions and Restrictions on 
Proprietary Trading and Certain Interests in, and Relationships With, 
Hedge Funds and Private Equity Funds.\1\ The final rule adopted 
amendments to the regulations implementing section 13 of the Bank 
Holding Company Act, which contains certain restrictions on the ability 
of a banking entity and nonbank financial company supervised by the 
Board to engage in proprietary trading and have certain interests in, 
or relationships with, a hedge fund or private equity fund. The FDIC 
wishes to make certain corrections to its final rule text in order to 
maintain consistency among the agencies.
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    \1\ 84 FR 61974 (Nov. 14, 2019).
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    For the reasons set out in the preamble and in this document, in FR 
Doc. 2019-22695, appearing on page 61974 in the Federal Register of 
Thursday, November 14, 2019, the following corrections are made:


Sec.  351.5  [Corrected]

0
1. On page 62171, in the first column, in part 351, in amendment 35, 
the instruction ``Section 351.5 is amended by revising paragraphs (b) 
and (c)(1) and adding paragraph (c)(4) to read as follows:'' is 
corrected to read as follows: ``Section 351.5 is amended by revising 
paragraphs (b) and (c)(1) introductory text and adding paragraph (c)(4) 
to read as follows:''

0
2. On page 62171, in the first column, in Sec.  351.5, in paragraph 
(b), ``* * *'' is corrected to read ``Requirements.''

    Dated on November 26, 2019.

Federal Deposit Insurance Corporation.
Annmarie H. Boyd,
Assistant Executive Secretary.
[FR Doc. 2019-26066 Filed 12-2-19; 8:45 am]
BILLING CODE 6714-01-P