[Federal Register Volume 89, Number 159 (Friday, August 16, 2024)]
[Unknown Section]
[Pages 66962-66963]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-16444]



[[Page 66961]]

Vol. 89

Friday,

No. 159

August 16, 2024

Part XXIII





 Federal Reserve System





-----------------------------------------------------------------------





Semiannual Regulatory Agenda

  Federal Register / Vol. 89 , No. 159 / Friday, August 16, 2024 / UA: 
Reg Flex Agenda  

[[Page 66962]]


-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM

12 CFR Ch. II


Semiannual Regulatory Flexibility Agenda

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Semiannual Regulatory Agenda.

-----------------------------------------------------------------------

SUMMARY: The Board is issuing this agenda under the Regulatory 
Flexibility Act and the Board's Statement of Policy Regarding Expanded 
Rulemaking Procedures. The Board anticipates having under consideration 
regulatory matters as indicated below during the period July 2024 
through December 2024. The next agenda will be published in fall 2024.

DATES: Comments about the form or content of the agenda may be 
submitted any time during the next 6 months.

ADDRESSES: Comments should be addressed to Ann E. Misback, Secretary of 
the Board, Board of Governors of the Federal Reserve System, 
Washington, DC 20551.

FOR FURTHER INFORMATION CONTACT: A staff contact for each item is 
indicated with the regulatory description below.

SUPPLEMENTARY INFORMATION: The Board is publishing its spring 2024 
agenda as part of the Spring 2024 Unified Agenda of Federal Regulatory 
and Deregulatory Actions, which is coordinated by the Office of 
Management and Budget under Executive Order 12866. The agenda also 
identifies rules the Board has selected for review under section 610(c) 
of the Regulatory Flexibility Act, and public comment is invited on 
those entries. The complete Unified Agenda will be available to the 
public at the following website: www.reginfo.gov. Participation by the 
Board in the Unified Agenda is on a voluntary basis.
    The Board's agenda is divided into three sections. The first, 
Proposed Rule Stage, reports on matters the Board may consider for 
public comment during the next 6 months. The second section, Completed 
Actions, reports on regulatory matters the Board has completed or is 
not expected to consider further. The third section, Long-Term Actions, 
reports on matters where the next action is undetermined, 00/00/0000, 
or will occur more than 12 months after publication of the Agenda. A 
dot () preceding an entry indicates a new matter that was not a 
part of the Board's previous agenda.

Erin Cayce,
Assistant Secretary of the Board.

                Federal Reserve System--Long-Term Actions
------------------------------------------------------------------------
                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
356.......................  Source of Strength                 7100-AE73
                             (Section 610 Review).
------------------------------------------------------------------------


                Federal Reserve System--Completed Actions
------------------------------------------------------------------------
                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
357.......................  Regulation LL--Savings and         7100-AD80
                             Loan Holding Companies
                             and Regulation MM--Mutual
                             Holding Companies (Docket
                             No: R-1429).
------------------------------------------------------------------------

FEDERAL RESERVE SYSTEM (FRS)

Long-Term Actions

356. Source of Strength (Section 610 Review) [7100-AE73]

    Legal Authority: 12 U.S.C. 1831(o)
    Abstract: The Board of Governors of the Federal Reserve System 
(Board), the Office of the Comptroller of the Currency (OCC), and the 
Federal Deposit Insurance Corporation (FDIC) plan to issue a proposed 
rule to implement section 616(d) of the Dodd-Frank Wall Street Reform 
and Consumer Protection Act. Section 616(d) requires that bank holding 
companies, savings and loan holding companies, and other companies that 
directly or indirectly control an insured depository institution serve 
as a source of strength for the insured depository institution.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
Board Expects Further Action........           To Be Determined
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Undetermined.
    Agency Contact: Melissa Clark, Lead Financial Institution Policy 
Analyst, Federal Reserve System, Division of Supervision and 
Regulation, Washington, DC 20551, Phone: 202 452-2277.
    Vivian Joel, Lead Financial Institution Policy Analyst, Federal 
Reserve System, Division of Supervision and Regulation, Washington, DC 
20551, Phone: 202 912-4313.
    Jay Schwarz, Deputy Associate General Counsel, Federal Reserve 
System, Legal Division, Washington, DC 20551, Phone: 202 452-2970.
    Claudia Von Pervieux, Senior Counsel, Federal Reserve System, Legal 
Division, Washington, DC 20551, Phone: 202 452-2552.
    RIN: 7100-AE73

FEDERAL RESERVE SYSTEM (FRS)

Completed Actions

357. Regulation LL--Savings and Loan Holding Companies and Regulation 
MM--Mutual Holding Companies (Docket No: R-1429) [7100-AD80]

    Legal Authority: 5 U.S.C. 552; 5 U.S.C. 559; 5 U.S.C. 1813; 5 
U.S.C. 1817; 5 U.S.C. 1828
    Abstract: The Dodd-Frank Wall Street Reform and Consumer Protection 
Act (the Dodd-Frank Act) transferred responsibility for supervision of 
Savings and Loan Holding Companies (SLHCs) and their non-depository 
subsidiaries from the Office of Thrift Supervision (OTS) to the Board 
of Governors of the Federal Reserve System (the Board), on July 21, 
2011. The Act also transferred supervisory functions related to Federal 
savings associations and State savings associations to the Office of 
the Comptroller of the Currency (OCC) and the Federal Deposit Insurance 
Corporation (FDIC), respectively. The Board on August 12, 2011, 
approved an interim final rule for SLHCs, including

[[Page 66963]]

a request for public comment. The interim final rule transferred from 
the OTS to the Board the regulations necessary for the Board to 
supervise SLHCs, with certain technical and substantive modifications. 
The interim final rule has three components: (1) New Regulation LL 
(part 238), which sets forth regulations generally governing SLHCs; (2) 
new Regulation MM (part 239), which sets forth regulations governing 
SLHCs in mutual form; and (3) technical amendments to existing Board 
regulations necessary to accommodate the transfer of supervisory 
authority for SLHCs from the OTS to the Board. The structure of interim 
final Regulation LL closely follows that of the Board's Regulation Y, 
which governs bank holding companies, in order to provide an overall 
structure to rules that were previously found in disparate locations. 
In many instances, interim final Regulation LL incorporated OTS 
regulations with only technical modifications to account for the shift 
in supervisory responsibility from the OTS to the Board. Interim final 
Regulation LL also reflects statutory changes made by the Dodd-Frank 
Act with respect to SLHCs, and incorporates Board precedent and 
practices with respect to applications processing procedures and 
control issues, among other matters. Interim final Regulation MM 
organized existing OTS regulations governing SLHCs in mutual form 
(MHCs) and their subsidiary holding companies into a single part of the 
Board's regulations. In many instances, interim final Regulation MM 
incorporated OTS regulations with only technical modifications to 
account for the shift in supervisory responsibility from the OTS to the 
Board. Interim final Regulation MM also reflects statutory changes made 
by the Dodd-Frank Act with respect to MHCs. The interim final rule also 
made technical amendments to Board rules to facilitate supervision of 
SLHCs, including to rules implementing Community Reinvestment Act 
requirements and to Board procedural and administrative rules. In 
addition, the Board made technical amendments to implement section 
312(b)(2)(A) of the Act, which transfers to the Board all rulemaking 
authority under section 11 of the Home Owner's Loan Act relating to 
transactions with affiliates and extensions of credit to executive 
officers, directors, and principal shareholders. These amendments 
include revisions to parts 215 (Insider Transactions) and part 223 
(Transactions with Affiliates) of Board regulations.
    Timetable:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
Board Requested Comment.............   09/13/11  76 FR 56508
Withdrawn...........................   02/23/24  .......................
------------------------------------------------------------------------

    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Scott Tkacz, Senior Special Counsel, Federal 
Reserve System, Legal Division, Washington, DC 20551, Phone: 202 452-
2744.
    Victoria Szybillo, Senior Counsel, Federal Reserve System, Legal 
Division, Washington, DC 20551, Phone: 202 475-6325.
    RIN: 7100-AD80

[FR Doc. 2024-16444 Filed 8-15-24; 8:45 am]
BILLING CODE 6210-01-P