[Unified Agenda of Federal Regulatory and Deregulatory Actions]
[Federal Deposit Insurance Corporation Semiannual Regulatory Agenda]
[From the U.S. Government Printing Office, www.gpo.gov]



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Part LII



Federal Deposit Insurance Corporation



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Semiannual Regulatory Agenda

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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)                           


  



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FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Ch. III

Semiannual Agenda of Regulations

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Semiannual regulatory agenda.

_______________________________________________________________________

SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is hereby 
publishing items for the April 1996 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.

    In accordance with the Federal Home Loan Bank Act, the RTC 
terminated on December 31, 1995, and the FDIC succeeded the RTC as 
receiver for any remaining RTC receiverships and is responsible for 
managing any remaining assets and liabilities of the RTC 
transferred to the FSLIC Resolution Fund. Congress did not include 
any provision transferring the RTC's regulations to the FDIC. The 
two Corporations considered these issues and published a joint 
notice of status of regulations (60 FR 66483) to inform the public 
that, when the FDIC assumed responsibility for the RTC's functions 
at termination, the RTC's regulations generally would not govern 
the FDIC's performance of those functions for occurrences that 
arise post-termination and that the FDIC's regulatory scheme 
generally will govern former RTC activities on a prospective basis.

    The Financial Institutions Reform, Recovery, and Enforcement 
Act of 1989 (FIRREA), the Federal Deposit Insurance Corporation 
Improvement Act of 1991 (FDICIA), and the Riegle Community 
Development and Regulatory Improvement Act of 1994 (CDRI) contain 
reforms that significantly restructure the regulation of financial 
institutions. As a consequence, many of the regulations included in 
this agenda are in response to FIRREA, FDICIA, and CDRI. The FDIC 
is continuing to develop regulations implementing the most recent 
legislative requirements. These include the requirement in section 
303 of CDRI that the Federal banking regulators conduct a review of 
all their regulations and written policies to streamline them, 
remove inconsistencies, improve efficiency, reduce unnecessary 
costs, and make uniform all regulations and guidelines implementing 
common statutory or supervisory policies. Proposed changes to the 
FDIC's regulations will be noted in future semiannual agendas as 
they emerge from these reviews.

    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.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Deputy Executive Secretary.

                                                  Prerule Stage                                                 
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
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4245        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 
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                                               Proposed Rule Stage                                              
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
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4246        12 CFR 325  Capital Maintenance--Recourse Arrangements and Direct Credit Substitutes..    3064-AB31 
4247        12 CFR 340  Restrictions on Sale of Assets by the FDIC................................    3064-AB37 
4248        12 CFR 308  Program Fraud Civil Remedies..............................................    3064-AB41 
4249        12 CFR 325  Capital Maintenance--Backtesting..........................................    3064-AB72 
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                                                Final Rule Stage                                                
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
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4250        12 CFR 308  Uniform Rules of Practice and Procedure...................................    3064-AB49 
4251        12 CFR 325  Capital Maintenance; Risk-Based Capital Standards: Market Risk............    3064-AB64 
4252        12 CFR 339  Loans in Areas Having Special Flood Hazards...............................    3064-AB66 
4253        12 CFR 364  Standards of Safety and Soundness.........................................    3064-AB68 
4254        12 CFR 348  Management Official Interlocks............................................    3064-AB71 
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                                                Long-Term Actions                                               
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
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4255        12 CFR 308  Censure, Suspension, and Debarment of Independent Public Accountants......    3064-AA64 
4256        12 CFR 357  Determination of Economically Depressed Regions...........................    3064-AB08 
4257        12 CFR 327  Assessments--Assessment Base..............................................    3064-AB46 
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                                                Completed Actions                                               
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
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4258        12 CFR 354  Deposit Liabilities.......................................................    3064-AA92 
4259        12 CFR 359  Golden Parachute and Indemnification Payments.............................    3064-AB11 
4260        12 CFR 366  Contractor Conflicts of Interest..........................................    3064-AB39 
4261        12 CFR 363  Independent Audits and Reporting Requirements.............................    3064-AB47 
4262        12 CFR 325  Capital Maintenance--OECD Countries.......................................    3064-AB54 
4263        12 CFR 346  Foreign Banks.............................................................    3064-AB62 
4264        12 CFR 353  Reports of Apparent Crimes Affecting Insured Nonmember Banks..............    3064-AB63 
4265        12 CFR 309  Disclosure of Information.................................................    3064-AB67 
4266        12 CFR 360  Receivership Rules........................................................    3064-AB69 
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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)              Prerule Stage


  



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4245. ELIGIBILITY FOR DEPOSIT INSURANCE; BEING ENGAGED IN THE BUSINESS 
OF RECEIVING DEPOSITS OTHER THAN TRUST FUNDS AND RELATED ITEMS

Priority:  Substantive, Nonsignificant

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                           05/00/96

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
Phone: 202 898-6919

RIN: 3064-AB40
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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)        Proposed Rule Stage


  



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4246. CAPITAL MAINTENANCE--RECOURSE ARRANGEMENTS AND DIRECT CREDIT 
SUBSTITUTES

Priority:  Substantive, Nonsignificant

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. One portion of the 
NPRM addressing the risk-based capital treatment of low-level recourse 
transactions is required to be published as a separate final rule by 
CDRI.
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 06/00/96

Recourse/Direct Credit Substitutes  NPRM 05/25/94 (59 FR 27116)  NPRM 
Comment Period End 07/25/94  Final Action 06/00/96

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
Phone: 202 898-8906

RIN: 3064-AB31
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4247. RESTRICTIONS ON SALE OF ASSETS BY THE FDIC

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1819; PL 103-204

CFR Citation:  12 CFR 340

Legal Deadline: None

Abstract: This regulatory action implements provisions in the 
Resolution Trust Corporation Completion Act of 1993 that require assets 
held by the FDIC in the course of liquidating federally insured 
depository institutions not to be sold to persons who, in ways 
specified in the Act, contributed to the demise of the institution.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/96

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
Phone: 202 898-6879

RIN: 3064-AB37
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4248. PROGRAM FRAUD CIVIL REMEDIES

Priority:  Substantive, Nonsignificant

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                            05/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Mark A. Mellon, Senior Attorney, Legal Division, 
Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-6919

RIN: 3064-AB41
_______________________________________________________________________




4249.  CAPITAL MAINTENANCE--BACKTESTING

Priority:  Substantive, Nonsignificant

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; 12 USC 4808; PL 
102-233; PL 102-242

CFR Citation:  12 CFR 325

Legal Deadline: None

Abstract: The Office of the Comptroller of the Currency, the Board of 
Governors of the Federal Reserve System, and the FDIC are issuing this 
rule to provide additional guidance to institutions about how the 
multiplication factor used to calculate capital requirements for market 
risk under the internal models approach would be adjusted if ex post 
comparisons of internal model estimates with actual trading results 
indicate that the internal model does not produce satisfactory results. 
The effect of this rule is that an institution with an unsatisfactory 
model could have increased capital requirements.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/07/96                     61 FR 9114
NPRM Comment Period End         04/05/96

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
Phone: 202 898-6972

RIN: 3064-AB72
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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)           Final Rule Stage


  



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4250. UNIFORM RULES OF PRACTICE AND PROCEDURE

Priority:  Substantive, Nonsignificant

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                            06/23/95                    60 FR 32882
NPRM Comment Period End         08/22/95
Final Action                    08/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Andrea Winkler, Counsel, Federal Deposit Insurance 
Corporation, Washington, DC 20429
Phone: 202 898-3764

RIN: 3064-AB49
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4251. CAPITAL MAINTENANCE; RISK-BASED CAPITAL STANDARDS: MARKET RISK

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1815; 12 USC 1816; 12 USC 1818; 12 USC 1819; 
12 USC 1828; 12 USC 1831; PL 102-233; PL 102-242

CFR Citation:  12 CFR 325

Legal Deadline: None

Abstract: The Office of the Comptroller of the Currency, the Federal 
Reserve System, and the FDIC are jointly amending their risk-based 
capital requirements to incorporate a measure for market risk. The 
amendments generally apply only to institutions that have (1) total 
assets exceeding $5 billion and either on-balance-sheet trading 
activities representing at least 3 percent of total assets or a volume 
of off-balance-sheet trading activities with notional amounts exceeding 
$5 billion, or (2) total assets of $5 billion or less and a volume of 
trading activities representing at least 10% of total assets. Capital 
charges for market risk will be calculated by such institutions using 
either their own internal value-at-risk model(s), or, alternatively, 
risk measurement techniques developed by supervisors. The effect of 
this measure is to require certain institutions to hold capital based 
on the measure of their market risk exposure.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/25/95                    60 FR 38082
NPRM Comment Period End         09/18/95
Final Action                    06/00/96

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
Phone: 202 898-6972

RIN: 3064-AB64
_______________________________________________________________________




4252. LOANS IN AREAS HAVING SPECIAL FLOOD HAZARDS

Priority:  Substantive, Nonsignificant

Legal Authority:  PL 103-325

CFR Citation:  12 CFR 339

Legal Deadline: None

Abstract: The OCC, FRB, FDIC, OTS, and NCUA are jointly sponsoring this 
regulatory action regarding loans in areas having special flood 
hazards. This regulation is required by CDRI.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/18/95                    60 FR 53962
NPRM Comment Period End         12/18/95
Final Action                    06/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Mark Mellon, Senior Attorney, Federal Deposit Insurance 
Corporation, Washington, DC 24029
Phone: 202 898-3854

RIN: 3064-AB66
_______________________________________________________________________




4253. STANDARDS OF SAFETY AND SOUNDNESS

Priority:  Substantive, Nonsignificant

Legal Authority:  PL 102-242; PL 103-325; 12 USC 1831p-1

CFR Citation:  12 CFR 364

Legal Deadline: None

Abstract: The FDIC, the Office of the Comptroller of the Currency, the 
Federal Reserve System, and the Office of Thrift Supervision, jointly 
proposed asset quality and earnings standards to be added to the 
Interagency Guidelines Establishing Standards for Safety and Soundness, 
appearing as an appendix to each of the agencies' standard for safety 
and soundness regulations. The agencies may require an insured 
depository institution to file a compliance plan for failure to meet 
these asset quality and earnings standards when adopted in final form.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/10/95                    60 FR 35688
NPRM Comment Period End         08/24/95
Final Action                    07/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Robert W. Walsh, Manager, Planning and Program 
Development, Division of Supervision, Federal Deposit Insurance 
Corporation, WAshington, DC 20429
Phone: 202 898-6911

RIN: 3064-AB68
_______________________________________________________________________




4254.  MANAGEMENT OFFICIAL INTERLOCKS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1823; 12 USC 3201; 12 USC 3207

CFR Citation:  12 CFR 348

Legal Deadline: None

Abstract: This proposal conforms the interlock rules to recent 
statutory changes, modernizes and clarifies the rules, and reduces 
unnecessary regulatory burdens where feasible.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/29/95                    60 FR 67424
NPRM Comment Period End         02/27/96
Final Action                    07/00/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Curtis Vaughn, Examination Specialist, Division of 
Supervision, Federal Deposit Insurance Corporation, Washington, DC 
20429

[[Page 23978]]

Phone: 202 898-6759

RIN: 3064-AB71
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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)          Long-Term Actions


  



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4255. CENSURE, SUSPENSION, AND DEBARMENT OF INDEPENDENT PUBLIC 
ACCOUNTANTS

Priority:  Substantive, Nonsignificant

CFR Citation:  12 CFR 308

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            00/00/00

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Doris L. Marsh
Phone: 202 898-8905

RIN: 3064-AA64
_______________________________________________________________________




4256. DETERMINATION OF ECONOMICALLY DEPRESSED REGIONS

Priority:  Substantive, Nonsignificant

CFR Citation:  12 CFR 357

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
Phone: 202 898-7096

RIN: 3064-AB08
_______________________________________________________________________




4257. ASSESSMENTS--ASSESSMENT BASE

Priority:  Substantive, Nonsignificant

CFR Citation:  12 CFR 327

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           10/05/94                    59 FR 50710
ANPRM Comment Period End        02/02/95
NPRM                            00/00/00

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: William Farrell
Phone: 703 516-5546

RIN: 3064-AB46
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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)          Completed Actions


  



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4258. DEPOSIT LIABILITIES

Priority:  Substantive, Nonsignificant

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 have found 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. The proposal 
was withdrawn on 12/27/95.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            11/25/88                    53 FR 47723
NPRM Comment Period End         01/24/89
Withdrawn                       12/27/95                    60 FR 66951

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
Phone: 202 898-3734

RIN: 3064-AA92
_______________________________________________________________________




4259. GOLDEN PARACHUTE AND INDEMNIFICATION PAYMENTS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1828

CFR Citation:  12 CFR 359

Legal Deadline: None

Abstract: This rulemaking limits golden parachute and indemnification 
payments made to institution-affiliated parties by depository 
institutions and depository institution holding companies. The purpose 
of this rule is to prevent the improper distribution of institution 
assets and to protect the financial soundness of insured depository 
institutions, depository institution holding companies, and the federal 
deposit insurance funds.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/07/91                    56 FR 50529
NPRM Comment Period End         12/06/91
Second NPRM                     03/29/95                    60 FR 16069
Second NPRM Comment Period End  05/30/95
Final Action                    02/15/96                     61 FR 5926
Final Action Effective          04/01/96

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
Phone: 202 898-3872

RIN: 3064-AB11
_______________________________________________________________________




4260. CONTRACTOR CONFLICTS OF INTEREST

Priority:  Other

Legal Authority:  12 USC 1819; 12 USC 1822

CFR Citation:  12 CFR 366

Legal Deadline: None

[[Page 23979]]

Abstract: This regulatory action establishes standards regarding 
conflicts of interest and ethical responsibilities for independent 
contractors doing business with the FDIC. The rule is required by the 
Resolution Trust Corporation Completion Act of 1993.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/24/94                    59 FR 32661
NPRM Comment Period End         08/23/94
Interim Final Rule              03/11/96                     61 FR 9590
Interim Final Rule Effective 
Date                            04/10/96
Interim Final Rule Comment 
Period End                      05/10/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: James Lantelme, Assistant General Counsel, Legal 
Division, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 736-0120

RIN: 3064-AB39
_______________________________________________________________________




4261. INDEPENDENT AUDITS AND REPORTING REQUIREMENTS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1831; PL 103-325

CFR Citation:  12 CFR 363

Legal Deadline: None

Abstract: This regulatory action implements section 314 of the CDRI. It 
provides relief from certain duplicative reporting requirements for 
sound, well-managed institutions with over $9 billion in assets which 
are subsidiaries of multibank holding companies. It also provides that 
the FDIC will notify a large insured institution in writing if it 
decides a review by an independent public accountant of the 
institution's quarterly financial reports is required. This regulatory 
action also includes several minor technical amendments to the 
guidelines and interpretations concerning compliance with the audit 
requirements.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/15/95                     60 FR 8583
NPRM Comment Period End         04/17/95
Final Action                    02/21/96                     61 FR 6487
Final Action Effective          04/01/96

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
Phone: 202 898-8905

RIN: 3064-AB47
_______________________________________________________________________




4262. CAPITAL MAINTENANCE--OECD COUNTRIES

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1815; 12 USC 1816; 12 USC 1818; 12 USC 1819; 
12 USC 1828; 12 USC 1831; PL 102-203; PL 102-242

CFR Citation:  12 CFR 325

Legal Deadline: None

Abstract: This regulatory action modifies the definition of the OECD-
based group of countries in the FDIC's risk-based capital guidelines. 
Claims on the governments and banks of this group generally receive 
lower risk weights than corresponding claims on the governments and 
banks of non-OECD based countries. This amendment is based on an 
announcement by the Basle Committee on Banking Supervision that, 
subject to national consultation, the Basle Committee plans to 
introduce a change to the Basle Accord in 1995. The effect of this 
modification is to exclude from the OECD-based group of countries which 
are eligible for the lower risk weights any country that has 
rescheduled its external sovereign debt within the previous five years.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/15/95                     60 FR 8582
NPRM Comment Period End         03/17/95
Final Action                    12/20/95                    60 FR 66042
Final Action Effective          04/01/96

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
Phone: 202 898-8904

RIN: 3064-AB54
_______________________________________________________________________




4263. FOREIGN BANKS

Priority:  Substantive, Nonsignificant

Legal Authority:  PL 103-328

CFR Citation:  12 CFR 346

Legal Deadline:  Final, Statutory, September 29, 1995.

Abstract: This rulemaking implements section 107 of the Riegle-Neal 
Interstate Banking and Branching Efficiency Act of 1994 (PL 103-328), 
which provides that the FDIC restrict the amounts and types of initial 
deposits of less than $100,000 which could be accepted by an uninsured 
state-licensed branch of a foreign bank. This rulemaking is intended to 
afford equal competitive opportunity to foreign and domestic banks.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/13/95                    60 FR 36074
NPRM Comment Period End         09/11/95
Final Action                    02/14/96                     61 FR 5671
Final Action Effective          04/01/96

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
Phone: 202 898-6850

RIN: 3064-AB62
_______________________________________________________________________




4264. REPORTS OF APPARENT CRIMES AFFECTING INSURED NONMEMBER BANKS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 248; 12 USC 625; 12 USC 1818; 12 USC 1844; 12 
USC 1881 to 1884; 12 USC 3401 to 3422

CFR Citation:  12 CFR 353

Legal Deadline: None

Abstract: This regulatory action implements a new interagency 
suspicious activity referral process and updates and clarifies various 
portions of the underlying reporting regulation. It reduces the 
reporting burden while enhancing access to such information by both the 
federal law enforcement and the federal financial institutions 
supervisory agencies.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/14/95                    60 FR 47719

[[Page 23980]]

NPRM Comment Period End         11/13/95
Final Action                    02/16/96                     61 FR 6095
Final Action Effective          04/01/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Carol A. Mesheske, Chief, Special Activities Section, 
Division of Supervision, Federal Deposit Insurance Corporation
Phone: 202 898-6750

RIN: 3064-AB63
_______________________________________________________________________




4265. DISCLOSURE OF INFORMATION

Priority:  Other

Legal Authority:  5 USC 552

CFR Citation:  12 CFR 309

Legal Deadline: None

Abstract: This rulemaking accommodates changes in the organizational 
structure of the FDIC, provides clearer guidance to requesters of 
information on how to obtain records under the Freedom of Information 
Act, and allows the FDIC to charge appropriate fees for records.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/06/95                    60 FR 35148
NPRM Comment Period End         09/05/95
Final Action                    11/30/95                    60 FR 61465
Final Action Effective          01/02/96

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Paul A. Jeddeloh, Senior Program Attorney, Office of 
the Executive Secretary, Federal Deposit Insurance Corporation, 
Washington, DC 20429
Phone: 202 898-7161

RIN: 3064-AB67
_______________________________________________________________________




4266. RECEIVERSHIP RULES

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1821; PL 101-73

CFR Citation:  12 CFR 360

Legal Deadline: None

Abstract: This rulemaking defines (1) spot and other short-term foreign 
exchange agreements and (2) repurchase agreements on qualified foreign 
government securities to be qualified financial contracts ``QFCs'' 
under the FDI Act, 12 USC 1811 et seq. The promulgation of this rule is 
not intended to exclude other agreements which otherwise may qualify as 
QFCs. The FDI Act provides special rules for the treatment of QFCs in 
the event that the FDIC is appointed receiver or conservator for an 
insured depository institution in default. Parties to QFCs are 
permitted to liquidate, terminate, and net their agreements.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/21/95                    60 FR 48935
NPRM Comment Period End         11/20/95
Final Action                    12/27/95                    60 FR 66863
Final Action Effective          12/27/95

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Sharon Powers Sivertsen, Assistant General Counsel, 
Legal Division, Federal Deposit Insurance Corporation, Washington, DC 
20429
Phone: 202 736-0112

RIN: 3064-AB69
[FR Doc. 96-6557 Filed 05-10-96; 8:45 am]
BILLING CODE 6714-01-F