[The Regulatory Plan and Unified Agenda of Federal Regulations]
[Federal Deposit Insurance Corporation Semiannual Regulatory Agenda]
[From the U.S. Government Printing Office, www.gpo.gov]
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Part LIII
Federal Deposit Insurance Corporation
_______________________________________________________________________
Semiannual Regulatory Agenda
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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)
_______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Ch. III
Semiannual Agenda of Regulations
AGENCY: Federal Deposit Insurance Corporation.
ACTION: Publication of semiannual agenda of regulations.
_______________________________________________________________________
SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is hereby
publishing items for the October 1994 regulatory agenda. The agenda
contains information about FDIC's current and projected rulemakings,
existing regulations under review, and completed rulemakings.
FOR FURTHER INFORMATION CONTACT: Persons identified under regulations
listed in the agenda. Unless otherwise noted, the address for all FDIC
staff identified in the agenda is Federal Deposit Insurance
Corporation, 550 17th Street NW., Washington, DC 20429.
SUPPLEMENTARY INFORMATION: Twice each year, the FDIC publishes an
agenda of regulations to inform the public of its regulatory actions
and to enhance public participation in the rulemaking process.
Publication of the agenda is in accordance with both the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.) and the FDIC statement of policy
entitled ``Development and Review of FDIC Rules and Regulations'' (44
FR 31007, May 30, 1979; 44 FR 32353, June 6, 1979; 44 FR 76858,
December 28, 1979; 49 FR 7288, February 28, 1984).
The FDIC amends its regulations under the general rulemaking
authority prescribed in section 9 of the Federal Deposit Insurance
Act (12 U.S.C. 1819) and under specific authority granted by the
Act and other statutes.
The Financial Institutions Reform, Recovery, and Enforcement
Act of 1989 (FIRREA) and the Federal Deposit Insurance Corporation
Improvement Act of 1991 (FDICIA) contain reforms that significantly
restructure Federal deposit insurance and the regulation of
financial institutions. As a consequence, many of the regulations
included in this agenda are in response to FIRREA and FDICIA.
Interested persons may petition the FDIC for the issuance,
amendment, or repeal of any regulation by submitting a written
petition to the Executive Secretary, Federal Deposit Insurance
Corporation, Washington, DC 20429. Petitioners should include
complete and concise statements of their interest in the subject
matter and reasons why the petitions should be granted.
Dated: August 8, 1994.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Acting Executive Secretary.
Prerule Stage
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Regulation
Sequence Title Identifier
Number Number
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4991 12 CFR ch III Eligibility for Deposit Insurance; Being Engaged in the Business of
Receiving Deposits Other Than Trust Funds and Related Items........................... 3064-AB40
4992 12 CFR 327 Assessments--Assessment Base.............................................. 3064-AB46
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Proposed Rule Stage
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Regulation
Sequence Title Identifier
Number Number
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4993 12 CFR 308 Censure, Suspension, and Debarment of Independent Public Accountants...... 3064-AA64
4994 12 CFR 359 Golden Parachute and Indemnification Payments............................. 3064-AB11
4995 12 CFR 345 Community Reinvestment.................................................... 3064-AB27
4996 12 CFR 348 Management Official Interlocks............................................ 3064-AB30
4997 12 CFR 340 Restrictions on Sale of Assets by the FDIC................................ 3064-AB37
4998 12 CFR 308 Program Fraud Civil Remedies.............................................. 3064-AB41
4999 12 CFR 325 Capital Maintenance--Future Credit Exposure/Off-Balance Sheet Contracts... 3064-AB43
5000 12 CFR 362 Activities and Investments of Insured State Banks--Treasury Stock......... 3064-AB47
5001 12 CFR 308 Uniform Rules of Practice and Procedure................................... 3064-AB49
5002 12 CFR 337 Unsafe and Unsound Banking Practices--''Other Purpose'' Loans to Executive
Officers.............................................................................. 3064-AB50
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Final Rule Stage
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Regulation
Sequence Title Identifier
Number Number
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5003 5 CFR 2635 Supplemental Requirements for Standards of Conduct........................ 3064-AA08
5004 12 CFR 303 Notice of Filing an Application for a Merger Transaction.................. 3064-AA54
5005 12 CFR 346 Foreign Banks............................................................. 3064-AA78
5006 12 CFR 354 Deposit Liabilities....................................................... 3064-AA92
5007 12 CFR 356 Insider Transactions--Conflicts of Interest............................... 3064-AA94
5008 12 CFR 334 Contracts Adverse to Safety and Soundness of Insured Depository
Institutions.......................................................................... 3064-AB06
5009 12 CFR 357 Determination of Economically Depressed Regions........................... 3064-AB08
5010 12 CFR 303 Standards for Safety and Soundness........................................ 3064-AB13
5011 12 CFR 325 Capital Maintenance--Credit Risk and Nontraditional Activities............ 3064-AB15
5012 12 CFR 325 Capital Maintenance--Deferred Tax Assets.................................. 3064-AB20
5013 12 CFR 325 Capital Maintenance--Interest Rate Risk................................... 3064-AB22
5014 12 CFR 360 National Depositor Preference............................................. 3064-AB25
5015 12 CFR 330 Disclosure of Capital Information for Deposit Insurance Purposes.......... 3064-AB26
5016 12 CFR 325 Capital Maintenance--FASB 115............................................. 3064-AB29
5017 12 CFR 325 Capital Maintenance--Recourse Arrangements and Direct Credit Substitutes.. 3064-AB31
5018 12 CFR 335 Securities of Nonmember Insured Banks..................................... 3064-AB32
5019 12 CFR 366 Contractor Ethics......................................................... 3064-AB39
5020 12 CFR 325 Capital Maintenance--Risk-Based Capital/Netting Arrangements.............. 3064-AB42
5021 12 CFR 333 Mutual-to-Stock Conversions of State Nonmember Savings Banks.............. 3064-AB44
5022 12 CFR 327 Assessments--Direct Debits................................................ 3064-AB45
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Completed Actions
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Regulation
Sequence Title Identifier
Number Number
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5023 12 CFR 323 Real Estate Appraisals.................................................... 3064-AB05
5024 12 CFR 335 Securities of Nonmember Insured Banks..................................... 3064-AB28
5025 12 CFR 304 Forms, Instructions, and Reports.......................................... 3064-AB33
5026 12 CFR 327 Assessments--Investment Contracts......................................... 3064-AB35
5027 12 CFR 303 Application and Publication Requirements--Remote Service Facilities....... 3064-AB36
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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Prerule Stage
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4991. ELIGIBILITY FOR DEPOSIT INSURANCE; BEING ENGAGED IN THE BUSINESS OF
RECEIVING DEPOSITS OTHER THAN TRUST FUNDS AND RELATED ITEMS
Legal Authority: 12 USC 1815; 12 USC 1819
CFR Citation: 12 CFR ch III
Legal Deadline: None
Abstract: Being ``engaged in the business of receiving deposits other
than trust funds'' is a necessary condition for consideration of an
application for deposit insurance and for continued insurance after an
application has been granted. However, the FDIC has never defined by
way of regulation or policy statement what constitutes being ``engaged
in the business of receiving deposits other than trust funds.'' The
FDIC is now considering a rulemaking to do that; this regulatory action
will assist the FDIC in that effort.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
ANPRM 12/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Melinda West Schwartzstein, Review Examiner, Division
of Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-6919
RIN: 3064-AB40
_______________________________________________________________________
4992. ASSESSMENTS--ASSESSMENT BASE
Legal Authority: 12 USC 1441; 12 USC 1817 to 1819
CFR Citation: 12 CFR 327
Legal Deadline: None
Abstract: The FDIC plans to seek comment on a proposal to revise the
assessment base used by insured institutions to determine the premium
paid for deposit insurance. The current base, generally domestic
deposits, is defined in the Federal Deposit Insurance Act. A statutory
change, effective January 1, 1994, permits the definition of the
assessment base to be established in the FDIC's rules and regulations.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
ANPRM 10/05/94 59 FR 50710
ANPRM Comment Period End 02/02/95
NPRM 06/00/95
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: William Farrell, Chief, Assessments Management Section,
Division of Finance, Federal Deposit Insurance Corporation, Washington,
DC 20429, 703 516-5546
RIN: 3064-AB46
_______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Proposed Rule Stage
_______________________________________________________________________
4993. CENSURE, SUSPENSION, AND DEBARMENT OF INDEPENDENT PUBLIC
ACCOUNTANTS
Legal Authority: PL 102-242, sec 112
CFR Citation: 12 CFR 308
Legal Deadline: None
Abstract: This regulation implements section 112 of FDICIA, which
requires the FDIC, the OCC, the FRB, and the OTS to develop joint rules
of practice for the suspension, removal, or debarment of independent
public accountants.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 00/00/00
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Doris L. Marsh, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-8905
RIN: 3064-AA64
_______________________________________________________________________
4994. GOLDEN PARACHUTE AND INDEMNIFICATION PAYMENTS
Legal Authority: 12 USC 1828
CFR Citation: 12 CFR 359
Legal Deadline: None
Abstract: This rulemaking would limit golden parachute and
indemnification payments made to institution-affiliated parties by
depository institutions and depository institution holding companies.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 10/07/91 56 FR 50529
NPRM Comment Period End 12/06/91
Second NPRM 10/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Jeffrey M. Kopchik, Counsel, Legal Division, Federal
Deposit Insurance Corporation, 550 17th Street NW., Washington, DC
20429, 202 898-3872
RIN: 3064-AB11
_______________________________________________________________________
4995. COMMUNITY REINVESTMENT
Legal Authority: PL 95-128
CFR Citation: 12 CFR 345
Legal Deadline: None
Abstract: The Office of the Comptroller of the Currency, the Board of
Governors of the Federal Reserve System, the FDIC, and the Office of
Thrift Supervision are working together to develop new regulations and
standards for procedures assessing a financial institution's
performance under the Community Reinvestment Act (CRA). The agencies'
goal is to reform CRA regulations and supervision in order to improve
performance, clarify standards, and make CRA performance assessments
more objective.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
ANPRM 08/19/93 58 FR 44138
NPRM 12/21/93 58 FR 67466
NPRM Comment Period End 03/24/94 59 FR 5138
Second NPRM 10/07/94 59 FR 51232
Second NPRM Comment Period End 11/21/94
Final Action 05/00/95
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Janice Smith, Director, Office of Consumer Affairs,
Federal Deposit Insurance Corporation, Washington, DC 20429, 202 898-
6777
RIN: 3064-AB27
_______________________________________________________________________
4996. MANAGEMENT OFFICIAL INTERLOCKS
Legal Authority: 12 USC 3207
CFR Citation: 12 CFR 348
Legal Deadline: None
Abstract: This rulemaking provides an exemption for any management
interlock between two depository institutions located in a relevant
metropolitan statistical area (``RMSA'') or community if their combined
share of the total deposits in the RMSA or community is no more than 20
percent.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 04/00/95
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Mark Mellon, Senior Attorney, Legal Division, Federal
Deposit Insurance Corporation, Washington, DC 20429, 202 898-3854
RIN: 3064-AB30
_______________________________________________________________________
4997. RESTRICTIONS ON SALE OF ASSETS BY THE FDIC
Legal Authority: 12 USC 1821
CFR Citation: 12 CFR 340
Legal Deadline: None
Abstract: This rulemaking would place restrictions on the sale of
assets of failed institutions to persons who profited or engaged in
wrongdoing at the expense of those failed institutions.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 11/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Joseph Fellerman, Senior Liquidation Specialist
(Credit), Division of Depositor and Asset Services, Federal Deposit
Insurance Corporation, Washington, DC 20429, 202 898-6879
RIN: 3064-AB37
_______________________________________________________________________
4998. PROGRAM FRAUD CIVIL REMEDIES
Legal Authority: 12 USC 1819; PL 103-204
CFR Citation: 12 CFR 308
Legal Deadline: None
Abstract: The Program Fraud Civil Remedies Act (``PFCRA'') requires
specified Federal agencies to follow certain procedures to recover
penalties and assessments against persons who file false claims and
statements. The Resolution Trust Corporation Completion Act (PL 103-
204) subjects the FDIC to the requirements of the PFCRA. An interagency
task force was established by the President's Council on Integrity and
Efficiency to develop model regulations for implementing the PFCRA.
This regulatory action adopts, with minor variations, the model
regulations set forth by the Council's task force.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 12/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Mark A. Mellon, Senior Attorney, Legal Division,
Federal Deposit Insurance Corporation, Washington, DC 20429, 202 898-
6919
RIN: 3064-AB41
_______________________________________________________________________
4999. CAPITAL MAINTENANCE--FUTURE CREDIT EXPOSURE/OFF-BALANCE
SHEET CONTRACTS
Legal Authority: 12 USC 1815; 12 USC 1816; 12 USC 1818; 12 USC 1819;
12 USC 1828; 12 USC 1831; 12 USC 3907; 12 USC 3909
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: This rulemaking alters the amount of capital required for
future credit exposure for off-balance sheet contracts. Further, it
would allow for the netting of future exposure consistent with the
bilateral netting arrangements contained in the rulemaking described
elsewhere in this Agenda under Regulatory Information Number 3064-AB42
(``Capital Maintenance -- Risk-based Capital/Netting Arrangements'').
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 10/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: William A. Stark, Assistant Director, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-6972
RIN: 3064-AB43
_______________________________________________________________________
5000. ACTIVITIES AND INVESTMENTS OF INSURED STATE BANKS--
TREASURY STOCK
Legal Authority: 12 USC 1816; 12 USC 1818; 12 USC 1819; 12 USC 1831
CFR Citation: 12 CFR 362
Legal Deadline: None
Abstract: This regulatory action amends the definition of ``equity
investment'' to exclude treasury stock in certain instances, thereby
allowing institutions, in accordance with applicable Federal and state
law, to acquire such stock or hold it for use within one year to
fulfill the requirements of an authorized stock option, bonus, profit
sharing, retirement, or similar plan for the benefit of employees.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 11/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Curtis Vaughn, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-6759
RIN: 3064-AB47
_______________________________________________________________________
5001. UNIFORM RULES OF PRACTICE AND PROCEDURE
Legal Authority: 12 USC 1817; 12 USC 1818; 12 USC 1820; 12 USC 1972
CFR Citation: 12 CFR 308
Legal Deadline: None
Abstract: The Comptroller of the Currency, the Board of Governors of
the Federal Reserve System, the FDIC, the Office of Thrift Supervision,
and the National Credit Union Administration are jointly proposing this
regulatory action to clarify provisions that have given rise to
confusion and to increase the efficiency and fairness of administrative
hearings. The changes are primarily technical in nature.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 11/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Andrea Winkler, Counsel, Federal Deposit Insurance
Corporation, Washington, DC 20429, 202 898-3764
RIN: 3064-AB49
_______________________________________________________________________
5002. UNSAFE AND UNSOUND BANKING PRACTICES--''OTHER PURPOSE''
LOANS TO EXECUTIVE OFFICERS
Legal Authority: 12 USC 375; 12 USC 1816; 12 USC 1818; 12 USC 1819; 12
USC 1828; 12 USC 1831
CFR Citation: 12 CFR 337
Legal Deadline: None
Abstract: This regulatory action excepts loans which are fully secured
by certain types of collateral from the general limit on ``other
purpose'' loans to executive officers of insured nonmember banks.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 08/16/94 59 FR 41990
NPRM Comment Period End 10/17/94
Final Action 04/00/95
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Mike Jenkins, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-6896
RIN: 3064-AB50
_______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Final Rule Stage
_______________________________________________________________________
5003. SUPPLEMENTAL REQUIREMENTS FOR STANDARDS OF CONDUCT
Legal Authority: 5 USC app Ethics in Government Act of 1978; 12 USC
1819; 26 USC 1043; EO 12674; EO 12731
CFR Citation: 5 CFR 2635; 5 CFR 3201; 12 CFR 336
Legal Deadline: None
Abstract: A rule published by the Office of Government Ethics (``OGE'')
at 5 CFR 2635 replaced all agency ethics rules, including the FDIC's.
OGE's rule permits supplemental rules on certain conflicts of interest
unique to each agency. The FDIC plans to publish such supplemental
regulations at 5 CFR 3201 relating to extensions of credit,
restrictions on holding the securities of federally insured depository
institutions, restrictions on the purchase of the property of failed
federally insured depository institutions, interest in FDIC decisions,
and related matters.
This supplemental rule incorporates provisions from the FDIC Employee
Responsibilities and Conduct regulation (12 CFR 336). Subpart C of 12
CFR 336 will remain in effect until this rule is published in final
form.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 07/12/94 59 FR 35480
NPRM Comment Period End 09/12/94
Final Action 11/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Katherine A. Corigliano, Assistant Executive Secretary
(Ethics), Office of the Executive Secretary, Federal Deposit Insurance
Corporation, Washington, DC 20429, 202 898-7272
RIN: 3064-AA08
_______________________________________________________________________
5004. NOTICE OF FILING AN APPLICATION FOR A MERGER TRANSACTION
Legal Authority: 12 USC 378; 12 USC 1813; 12 USC 1815 to 1819; 12 USC
1828; 12 USC 1831; 15 USC 1607
CFR Citation: 12 CFR 303
Legal Deadline: None
Abstract: This rulemaking amends the requirements for publishing notice
of the filing of an application for a merger transaction under the Bank
Merger Act. This rule brings the FDIC's regulations more into
conformance with those of the other federal financial institutions
regulators, and lessens the paperwork and cost burdens imposed by the
FDIC's notice requirements.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/15/93 58 FR 33050
NPRM Comment Period End 08/16/93
Final Action 11/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: A. David Meadows, Associate Director, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-3855
RIN: 3064-AA54
_______________________________________________________________________
5005. FOREIGN BANKS
Legal Authority: 12 USC 378; 12 USC 1813; 12 USC 1815 to 1819; 12 USC
1828; 12 USC 1829; 12 USC 3105; 15 USC 1607
CFR Citation: 12 CFR 346
Legal Deadline: None
Abstract: This regulation implements section 202(h) of FDICIA, which
provides, in part, that after December 19, 1992, an insured state
branch of a foreign bank may not engage in any activity not permissible
for a federal branch of a foreign bank unless the FDIC has determined
that the activity would pose no significant risk to the deposit
insurance fund. This regulation sets forth the application procedures
to request the FDIC's permission to engage in, or continue to engage
in, an activity not permissible for a federal branch.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/02/93 58 FR 11992
NPRM Comment Period End 05/03/93
Final Action 11/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Charles V. Collier, Assistant Director, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-6850
RIN: 3064-AA78
_______________________________________________________________________
5006. DEPOSIT LIABILITIES
Legal Authority: 12 USC 1813; 12 USC 1819
CFR Citation: 12 CFR 354
Legal Deadline: None
Abstract: The FDIC issued for public comment a proposed regulation
expanding the definition of the term ``deposit.'' The proposed rule
would find that a bank's liability on a promissory note, bond,
acknowledgement of advance, or similar obligation that is issued or
undertaken by the insured bank as a means of obtaining funds is a
deposit liability for insurance and assessment purposes.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 11/25/88 53 FR 47723
NPRM Comment Period End 01/24/89
Final Action 00/00/00
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Alan J. Kaplan, Assistant General Counsel, Legal
Division, Federal Deposit Insurance Corporation, Washington, DC 20429,
202 898-3734
RIN: 3064-AA92
_______________________________________________________________________
5007. INSIDER TRANSACTIONS--CONFLICTS OF INTEREST
Legal Authority: 12 USC 1818; 12 USC 1819; 12 USC 1831(g)
CFR Citation: 12 CFR 356
Legal Deadline: None
Abstract: This rule ensures that business dealings (other than
extensions of credit) between insured nonmember banks and state
licensed insured branches of foreign banks and their ``insiders'' are
conducted in an arms-length fashion so that insiders do not improperly
abuse their position for personal gain.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 08/08/91 56 FR 37673
NPRM Comment Period End 10/07/91
Final Action 00/00/00
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Michael D. Jenkins, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington DC
20429, 202 898-6896
RIN: 3064-AA94
_______________________________________________________________________
5008. CONTRACTS ADVERSE TO SAFETY AND SOUNDNESS OF INSURED DEPOSITORY
INSTITUTIONS
Legal Authority: 12 USC 1818; 12 USC 1819; 12 USC 1831g
CFR Citation: 12 CFR 334
Legal Deadline: None
Abstract: This rule implements section 225 of FIRREA, which requires
the FDIC to prescribe regulations as may be necessary to prevent
insured depository institutions from entering into contracts that
adversely affect their safety and soundness.
The rule is proposed in two stages. The first stage is a notice of
proposed rulemaking on adverse contracts in general. The second stage
is an advance notice of proposed rulemaking with request for comment on
how to deal with contracts with non-depository affiliates.
Timetable:
Adverse Contracts With Non-depository Affiliates ANPRM 04/01/91 (56 FR
13291) ANPRM Comment Period End 05/31/91
Adverse Contracts With Outside Vendors NPRM 04/01/91 (56 FR
13291) NPRM Comment Period End 05/31/91
Both Types of Adverse Contracts Final Action 00/00/00
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Michael D. Jenkins, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-6896
RIN: 3064-AB06
_______________________________________________________________________
5009. DETERMINATION OF ECONOMICALLY DEPRESSED REGIONS
Legal Authority: 12 USC 1823
CFR Citation: 12 CFR 357
Legal Deadline: None
Abstract: This rulemaking designates ten states as ``economically
depressed regions,'' as defined in section 13(k)(5)(C) of the Federal
Deposit Insurance Act. The ten states are California, Connecticut, the
District of Columbia, Maine, Massachusetts, New Hampshire, New Jersey,
New York, Rhode Island, and Vermont. The eight states previously
designated as ``economically depressed'' should no longer receive that
designation. The FDIC is required by 12 USC 1823 to consider proposals
for direct financial assistance by SAIF member institutions having
offices located in an ``economically depressed region,'' and meeting
certain other specified criteria, before grounds exist for the
appointment of a conservator or a receiver for such institutions.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 12/18/92 57 FR 60140
NPRM Comment Period End 02/16/93
Final Action 00/00/00
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Alice Weicher, Financial Economist, Division of
Research and Statistics, Federal Deposit Insurance Corporation,
Washington, DC 20429, 202 898-7096
RIN: 3064-AB08
_______________________________________________________________________
5010. STANDARDS FOR SAFETY AND SOUNDNESS
Legal Authority: PL 102-242, sec 132
CFR Citation: 12 CFR 303; 12 CFR 308; 12 CFR 364
Legal Deadline: Final, Statutory, August 1, 1993.
Final regulations must be promulgated by 08/01/93, with an effective
date no later than 12/01/93.
Abstract: Section 132 of FDICIA requires Federal financial institutions
regulators, including the FDIC, to prescribe by regulation certain
safety and soundness standards for insured depository institutions and
depository institution holding companies. Standards must be prescribed
in three principal areas: (1) operational and managerial; (2) asset
quality and earnings; and (3) employee compensation. Under this
proposal, an insured depository institution or depository institution
holding company that fails to meet any of the prescribed standards,
will be required to submit and implement an acceptable plan to achieve
compliance. Failure to submit or implement such a plan within the time
allowed will result in an order to correct the deficiency.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
ANPRM 07/15/92 57 FR 31336
ANPRM Comment Period End 09/14/92
NPRM 11/18/93 58 FR 60802
NPRM Comment Period End 01/03/94
Final Action 10/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Robert W. Walsh, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-6911
RIN: 3064-AB13
_______________________________________________________________________
5011. CAPITAL MAINTENANCE--CREDIT RISK AND NONTRADITIONAL ACTIVITIES
Legal Authority: PL 102-242, sec 305
CFR Citation: 12 CFR 325
Legal Deadline: Final, Statutory, June 19, 1993.
Abstract: This rule implements section 305 of FIRREA, which requires
each Federal banking agency to revise its risk-based capital standards
for insured depository institutions to account for concentration of
credit risk and the risks of nontraditional activities.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
ANPRM 08/10/92 57 FR 35507
ANPRM Comment Period End 10/09/92
NPRM 02/22/94 59 FR 8420
NPRM Comment Period End 03/24/94
Final Action 12/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Stephen G. Pfeifer, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-8904
RIN: 3064-AB15
_______________________________________________________________________
5012. CAPITAL MAINTENANCE--DEFERRED TAX ASSETS
Legal Authority: 12 USC 1815; 12 USC 1816; 12 USC 1818; 12 USC 1819;
12 USC 1828; 12 USC 1831; 12 USC 3907; 12 USC 3909; PL 102-233; PL 102-
242
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: This rulemaking amends the FDIC's capital standards for
insured state nonmember banks by establishing a limitation on the
amount of certain deferred tax assets that may be included in (that is,
not deducted from) the Tier 1 capital calculation for risk-based and
leverage capital purposes. This amendment was developed on a consistent
basis by the FDIC, the Board of Governors of the Federal Reserve
System, the Office of the Comptroller of the Currency, and the Office
of Thrift Supervision in response to the issuance by the Financial
Accounting Standards Board (``FASB'') of Statement 109, ``Accounting
for Income Taxes.'' This FASB accounting standard must be adopted by
insured state nonmember banks for regulatory reporting and financial
reporting purposes no later than the first quarter of 1993, or the
beginning of the first fiscal year thereafter, if later.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 05/05/93 58 FR 26701
NPRM Comment Period End 06/04/93
Final Action 10/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Robert F. Storch, Chief, Accounting Section, Division
of Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-8906
RIN: 3064-AB20
_______________________________________________________________________
5013. CAPITAL MAINTENANCE--INTEREST RATE RISK
Legal Authority: 12 USC 1815; 12 USC 1816; 12 USC 1818; 12 USC 1819;
12 USC 1828; 12 USC 1831; 12 USC 3907; 12 USC 3909; PL 102-233; PL 102-
242
CFR Citation: 12 CFR 325
Legal Deadline: Final, Statutory, June 19, 1993.
Abstract: This rule implements that part of section 305 of FIRREA which
requires each Federal banking agency to revise its risk-based capital
standards for insured depository institutions to ensure that those
standards take adequate account of interest rate risk.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
ANPRM 08/10/92 57 FR 35507
ANPRM Comment Period End 10/09/92
NPRM 09/14/93 58 FR 48206
NPRM Comment Period End 10/29/93
Final Action 12/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: William A. Stark, Assistant Director, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-6972
RIN: 3064-AB22
_______________________________________________________________________
5014. NATIONAL DEPOSITOR PREFERENCE
Legal Authority: PL 101-73
CFR Citation: 12 CFR 360
Legal Deadline: None
Abstract: On August 10, 1993, Congress amended section 11(d)(11) of the
FDI Act to establish priorities for paying claims against failed
institutions. The priorities are as follows: (1) administrative
expenses of the receiver, (2) deposit liabilities, (3) other general or
senior liabilities, (4) subordinated debts, (5) shareholders'
obligations. This regulatory action clarifies the requirements of the
statute regarding the expenses that may be included as administrative
expenses of the receiver.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
Interim Final Rule and Request
for Comments 08/13/93 58 FR 43069
Interim Final Rule Effective
Date 08/13/93
Interim Final Rule Comment
Period End 10/12/93
Final Rule 12/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Stephen N. Graham, Associate Director, Division of
Liquidation, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-7377
RIN: 3064-AB25
_______________________________________________________________________
5015. DISCLOSURE OF CAPITAL INFORMATION FOR DEPOSIT INSURANCE PURPOSES
Legal Authority: 12 USC 1819 to 1821
CFR Citation: 12 CFR 330
Legal Deadline: None
Abstract: The purpose of this rulemaking is to provide better
information for pension plan administrators to determine the amount of
deposit insurance available for their pension plan deposits.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 12/08/93 58 FR 64521
NPRM Comment Period End 02/07/94
Final Action 10/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Daniel M. Gautsch, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-6912
RIN: 3064-AB26
_______________________________________________________________________
5016. CAPITAL MAINTENANCE--FASB 115
Legal Authority: PL 102-233; PL 102-242
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: This rulemaking amends the FDIC's leverage and risk-based
capital standards to recognize explicitly the unrealized gains and
losses on available-for-sale securities in determining the amount of an
institution's common stockholders' equity. This is consistent with the
recently adopted Statement of Financial Accounting Standards No. 115
(FASB 115).
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 12/29/93 58 FR 68781
NPRM Comment Period End 01/28/94
Final Action 12/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Stephen G. Pfeifer, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-8906
RIN: 3064-AB29
_______________________________________________________________________
5017. CAPITAL MAINTENANCE--RECOURSE ARRANGEMENTS AND DIRECT CREDIT
SUBSTITUTES
Legal Authority: 12 USC 1815; 12 USC 1816; 12 USC 1818; 12 USC 1819;
12 USC 1828; 12 USC 1831; 12 USC 3907; 12 USC 3909
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: The FDIC, the Board of Governors of the Federal Reserve
System, the Office of the Comptroller of the Currency, and the Office
of Thrift Supervision (``Agencies'') are revising their risk-based
capital standards to address the regulatory capital treatment of
recourse arrangements and direct credit substitutes that expose banks,
bank holding companies, and thrifts to credit risk.
In addition, the Agencies published, in an ANPRM, a preliminary
proposal to use credit ratings to match the risk-based capital
assessment more closely to an institution's relative risk of loss in
certain asset securitizations. The Agencies are also seeking comment on
the need for a similar system for unrated asset securitizations and on
how such a system would be designed. The Agencies intend that any final
rules adopted in connection with these regulatory actions that result
in increased risk-based capital requirements would apply only to
transactions that are consummated after the effective dates of such
final rules.
Timetable:
Credit Ratings ANPRM 05/25/94 (59 FR 27116) ANPRM Comment Period End
07/25/94 NPRM 04/00/95
Recourse/Direct Credit Substitutes NPRM 05/25/94 (59 FR 27116) NPRM
Comment Period End 07/25/94 Final Action 12/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Robert F. Storch, Chief, Accounting Section, Division
of Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-8906
RIN: 3064-AB31
_______________________________________________________________________
5018. SECURITIES OF NONMEMBER INSURED BANKS
Legal Authority: 15 USC 78l
CFR Citation: 12 CFR 335
Legal Deadline: None
Abstract: Section 12(i) of the Securities Exchange Act of 1934 requires
that the FDIC issue regulations substantially similar to those of the
Securities and Exchange Commission (``SEC'') or publish its reasons for
not doing so. This regulatory action would result in the issuance of
FDIC regulations substantially similar to the SEC's Exchange Act
regulations relating to Small Business Initiatives, Executive
Compensation Disclosure, and Regulation of Communications Among
Shareholders.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 05/02/94 59 FR 22555
NPRM Comment Period End 07/01/94
Final Action 11/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: M. Eric Dohm, Staff Accountant, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-8921
RIN: 3064-AB32
_______________________________________________________________________
5019. CONTRACTOR ETHICS
Legal Authority: 12 USC 1822
CFR Citation: 12 CFR 366
Legal Deadline: None
Abstract: This regulatory action establishes standards regarding
conflicts of interest and ethical responsibilities for independent
contractors doing business with the FDIC.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/24/94 59 FR 32661
NPRM Comment Period End 08/23/94
Final Action 03/00/95
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: James Lantelme, Assistant General Counsel, Legal
Division, Federal Deposit Insurance Corporation, Washington, DC 20429,
202 736-0120
RIN: 3064-AB39
_______________________________________________________________________
5020. CAPITAL MAINTENANCE--RISK-BASED CAPITAL/NETTING ARRANGEMENTS
Legal Authority: 12 USC 1815; 12 USC 1816; 12 USC 1818; 12 USC 1819;
12 USC 1828; 12 USC 1831; 12 USC 3907; 12 USC 3909
CFR Citation: 12 CFR 325
Legal Deadline: None
Abstract: This regulatory action amends the FDIC's risk-based capital
guidelines to recognize the risk-reducing benefits of netting
arrangements by permitting institutions to net, for risk-based capital
purposes, interest and exchange rate contracts subject to bilateral
netting arrangements that meet certain criteria.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 07/25/94 59 FR 37726
NPRM Comment Period End 08/24/94
Final Action 12/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Curtis Wong, Capital Markets Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-7327
RIN: 3064-AB42
_______________________________________________________________________
5021. MUTUAL-TO-STOCK CONVERSIONS OF STATE NONMEMBER SAVINGS
BANKS
Legal Authority: 12 USC 1816; 12 USC 1818; 12 USC 1819; 12 USC 1828
CFR Citation: 12 CFR 333
Legal Deadline: None
Abstract: This rulemaking would require FDIC-insured mutual state-
chartered savings banks to comply with new substantive provisions of
the FDIC's regulations when proposing to convert to the stock form of
ownership.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/13/94 59 FR 30316
NPRM Comment Period End 07/13/94
Final Action 11/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Robert H. Hartheimer, Acting Director, Division of
Resolutions, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-8879
RIN: 3064-AB44
_______________________________________________________________________
5022. ASSESSMENTS--DIRECT DEBITS
Legal Authority: 5 USC 552; 12 USC 1817 to 1820; PL 102-242
CFR Citation: 12 CFR 327; 12 CFR 304
Legal Deadline: None
Abstract: This regulatory action provides for the quarterly collection
of assessments by means of FDIC-originated direct debits through the
Automated Clearing House network, based on invoices prepared by FDIC
using call report data. The action also clarifies the obligation of
acquiring institutions to pay assessments on deposits assumed from
institutions terminating their insured status; and deletes from the
assessments regulation the existing references to experience factors,
which are not available for use after 1994.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/10/94 59 FR 29965
NPRM Comment Period End 08/08/94
Final Action 11/00/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Connie Brindle, Chief, Assessment Operations Section,
Division of Finance, Federal Deposit Insurance Corporation, Washington,
DC 20429, 703 516-5553
RIN: 3064-AB45
_______________________________________________________________________
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Completed Actions
_______________________________________________________________________
5023. REAL ESTATE APPRAISALS
Legal Authority: 12 USC 1818; 12 USC 1819; 12 USC 3331; 12 USC 3352
CFR Citation: 12 CFR 323
Legal Deadline: None
Abstract: This rulemaking increases to $250,000 the threshold level at
or below which appraisals are not required pursuant to Title XI of
FIRREA, expands and clarifies existing exemptions to the appraisal
requirement, and identifies additional circumstances when appraisals
are not required. In addition, the rulemaking amends existing
requirements governing appraisal content and appraiser independence.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 06/04/93 58 FR 31878
NPRM Comment Period End 12/10/93 58 FR 59688
Final Action 06/07/94 59 FR 29482
Final Action Effective 06/07/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: James D. Leitner, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-6790
RIN: 3064-AB05
_______________________________________________________________________
5024. SECURITIES OF NONMEMBER INSURED BANKS
Legal Authority: 15 USC 78l
CFR Citation: 12 CFR 335
Legal Deadline: None
Abstract: The FDIC was contemplating issuing an Advanced Notice of
Proposed Rulemaking (ANPRM) seeking comment on a proposal to amend its
securities disclosure regulations (12 CFR 335) by incorporating
appropriate regulations of the Securities and Exchange Commission
(``SEC'') by cross-reference. This would bring the FDIC's regulations
on securities disclosure closer in form to those of the other Federal
financial institutions regulators, and to those of the SEC. It would
also simplify the complexity and reporting burden associated with the
disclosure requirements pertaining to registered banks. Rather than
issue a separate ANPRM, comment was sought on this issue as part of a
Notice of Proposed Rulemaking on a related subject, published in the
Federal Register on May 2, 1994 (59 FR 22555). No further action is
anticipated during the next six months.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
Withdrawn 07/19/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Lawrence H. Pierce, Chief, Registration and Disclosure
Section, Division of Supervision, Federal Deposit Insurance
Corporation, Washington, DC 20429, 202 898-8902
RIN: 3064-AB28
_______________________________________________________________________
5025. FORMS, INSTRUCTIONS, AND REPORTS
Legal Authority: 5 USC 552; 12 USC 1817 to 1820; PL 102-242
CFR Citation: 12 CFR 304
Legal Deadline: None
Abstract: This rulemaking rescinds the requirement that all banks, with
the exception of insured bankers' banks, give the FDIC prior notice of
planned rapid growth as a result of any ``special funding plan or
arrangement.'' The primary effect of this rescission would be to lessen
the regulatory burden on banks which are currently required to comply
with the requirement, as well as with the FDIC's brokered deposit and
prompt corrective action rules, both of which were mandated by FDICIA.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 04/05/94 59 FR 15869
NPRM Comment Period End 05/05/94
Final Action 10/06/94 59 FR 50826
Final Action Effective 11/07/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: William G. Hrindac, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-6892
RIN: 3064-AB33
_______________________________________________________________________
5026. ASSESSMENTS--INVESTMENT CONTRACTS
Legal Authority: 12 USC 1441; 12 USC 1817 to 1819
CFR Citation: 12 CFR 327
Legal Deadline: None
Abstract: This rule provides for the subtraction of certain liabilities
from an institution's assessment base. The subject liabilities, arising
under depository institution investment contracts, are those not
treated as insured deposits under section 11(a)(8) of the Federal
Deposit Insurance Act.
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 03/01/94 59 FR 9687
NPRM Comment Period End 03/31/94
Final Action 06/09/94 59 FR 29714
Final Action Effective 07/11/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: William Farrell, Chief, Assessments Management Section,
Division of Finance, Federal Deposit Insurance Corporation, Washington,
DC 20429, 703 516-5546
RIN: 3064-AB35
_______________________________________________________________________
5027. APPLICATION AND PUBLICATION REQUIREMENTS--REMOTE SERVICE FACILITIES
Legal Authority: 12 USC 378; 12 USC 1813; 12 USC 1815 to 1819; 12 USC
1828; 12 USC 1831; 15 USC 1607
CFR Citation: 12 CFR 303
Legal Deadline: None
Abstract: This rulemaking provides that a state nonmember bank or a
state-licensed branch of a foreign bank whose most recent Community
Reinvestment Act rating is Satisfactory or better, may dispense with
the public notice requirements that must otherwise be satisfied before
establishing and operating or relocating a Remote Service Facility
(RSF).
Timetable:
_________________________________________________________________________
Action Date FR Cite
_________________________________________________________________________
NPRM 04/26/94 59 FR 21676
NPRM Comment Period End 06/27/94
Final Action 08/23/94 59 FR 43281
Final Action Effective 08/23/94
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Curtis L. Vaughn, Examination Specialist, Division of
Supervision, Federal Deposit Insurance Corporation, Washington, DC
20429, 202 898-6759
RIN: 3064-AB36
[FR Doc. 94-21033 Filed 11-10-94; 8:45 am]
BILLING CODE 6714-01-F