[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 LIII





Federal Deposit Insurance Corporation





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Semiannual Regulatory Agenda

[[Page 22970]]



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 1998 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 Riegle Community Development and Regulatory Improvement Act 
of 1994 (CDRI) contains reforms that significantly restructure the 
regulation of financial institutions. As a consequence, many of the 
regulations included in this agenda are in response to 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. Changes to 
the FDIC's regulations as a result of CDRI will be noted in this 
and future semiannual agendas as they emerge from these reviews. 
The Federal banking regulators are the FDIC, the Office of the 
Comptroller of the Currency (OCC), the Board of Governors of the 
Federal Reserve System (FRS), and the Office of Thrift Supervision 
(OTS). In some cases, the FDIC also coordinates with the National 
Credit Union Administration (NCUA).

    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: February 20, 1998.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Executive Secretary.

                                               Proposed Rule Stage                                              
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
----------------------------------------------------------------------------------------------------------------
4207        12 CFR 340   Restrictions on Sale of Assets by the FDIC...............................    3064-AB37 
4208        12 CFR 308   Program Fraud Civil Remedies.............................................    3064-AB41 
4209        12 CFR 360   Receivership Rules.......................................................    3064-AB92 
4210        12 CFR 325   Capital Maintenance--Elimination of Interagency Differences..............    3064-AB96 
4211        12 CFR 348   Management Interlocks Act................................................    3064-AC08 
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                                                Final Rule Stage                                                
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
----------------------------------------------------------------------------------------------------------------
4212        12 CFR 325   Capital Maintenance--Recourse Arrangements and Direct Credit Substitutes.    3064-AB31 
4213        12 CFR 330   Simplification of Deposit Insurance Rules................................    3064-AB73 
4214        12 CFR 325   Capital Maintenance--Collateralized Transactions.........................    3064-AB78 
4215        12 CFR 342   Qualification Requirements for the Recommendation or Sale of Certain                   
            Securities............................................................................    3064-AB85 
4216        12 CFR 307   Notification of Changes of Insured Status................................    3064-AB88 
4217        12 CFR 361   Formal Minority- and Women-Owned Business and Law Firm Certification                   
            Program...............................................................................    3064-AB95 
4218        12 CFR 328   Advertisement of Membership..............................................    3064-AB99 
4219        12 CFR 360   Receivership Rules--Security Interests of Federal Home Loan Banks........    3064-AC00 
4220        12 CFR 303   Applications, Requests, Submittals, Delegations of Authority, and Notices              
            Required to be Filed by Statute or Regulation.........................................    3064-AC02 
4221        12 CFR 343   Insured State Nonmember Banks Which Are Municipal Securities Dealers.....    3064-AC04 
4222        12 CFR 325   Capital Maintenance--Treatment of Servicing Assets.......................    3064-AC07 
4223        12 CFR 325   Risk-Based Capital Standards; Unrealized Revaluation Gains on Certain                  
            Equity Securities.....................................................................    3064-AC11 

[[Page 22971]]

                                                                                                                
4224        12 CFR 362   Activities of Insured State Banks and Insured Savings Associations.......    3064-AC12 
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                                                Long-Term Actions                                               
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                                                                                                     Regulation 
 Sequence                                           Title                                            Identifier 
  Number                                                                                               Number   
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4225        12 CFR 308   Censure, Suspension, and Debarment of Independent Public Accountants.....    3064-AA64 
4226        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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4227        12 CFR 357   Determination of Economically Depressed Regions..........................    3064-AB08 
4228        12 CFR 347   International Banking....................................................    3064-AC05 
4229        12 CFR 363   Annual Independent Audits and Reporting Requirements.....................    3064-AC06 
4230        12 CFR 309   Disclosure of Information................................................    3064-AC10 
4231        12 CFR 329   Part 329: Interest on Deposits...........................................    3064-AC13 
4232        12 CFR 325   Risk-Based Capital Standards: Market Risk................................    3064-AC14 
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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)        Proposed Rule Stage


  



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4207. 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:
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Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/98

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
_______________________________________________________________________




4208. 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 of 1993 
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                            06/00/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Mark A. Mellon, Counsel, Legal Division, Federal 
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-3854

RIN: 3064-AB41
_______________________________________________________________________




4209. RECEIVERSHIP RULES

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1819 to 1821

CFR Citation:  12 CFR 360

Legal Deadline: None

Abstract: This rulemaking establishes uniform rules governing the 
payment and priority of post-insolvency interest payments from all 
receiverships administered by the FDIC and makes

[[Page 22972]]

other technical and clarifying changes to part 360.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Mitchell Glassman, Deputy Director, Federal Deposit 
Insurance Corporation, Washington, DC 20429
Phone: 202 898-6525

RIN: 3064-AB92
_______________________________________________________________________




4210. CAPITAL MAINTENANCE--ELIMINATION OF INTERAGENCY DIFFERENCES

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 1835; 12 USC 3907; 12 USC 3909; 12 USC 
4808; PL 102-242

CFR Citation:  12 CFR 325

Legal Deadline: None

Abstract: This rulemaking, jointly sponsored by the FDIC, the FRS, the 
OCC, and the OTS, resolves differences among the agencies with regard 
to the capital treatment of construction loans on presold residential 
properties, real estate loans secured by junior liens on 1-4 family 
residential properties, investments in mutual funds, and the minimum 
Tier 1 leverage capital standard. This rule is the result of a CDRI 
section 303(a) review.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/00/98

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-AB96
_______________________________________________________________________




4211. MANAGEMENT INTERLOCKS ACT

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 93a; 12 USC 3201 to 3208

CFR Citation:  12 CFR 348

Legal Deadline: None

Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, the 
OTS, the NCUA, and the FDIC. It conforms the management interlocks 
rules to recent statutory changes, modernizes and clarifies the rules, 
and reduces unnecessary regulatory burdens where feasible, consistent 
with statutory requirements.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/00/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Curtis Vaughn, Examination Specialist, Division of 
Supervision, Federal Deposit Insurance Corporation, Washington, DC 
20429
Phone: 202 898-6759

RIN: 3064-AC08
_______________________________________________________________________


FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)           Final Rule Stage


  



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4212. 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 FRS, the OCC, and the OTS (``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.
A second NPRM combining the issues raised in the ANPRM on credit 
ratings, and the NPRM on recourse and direct credit substitutes was 
published in November 1997 (62 FR 59944).

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    05/00/98

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
_______________________________________________________________________




4213. SIMPLIFICATION OF DEPOSIT INSURANCE RULES

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1813; 12 USC 1817 to 1822

CFR Citation:  12 CFR 330

Legal Deadline: None

Abstract: One of the FDIC's projects in its Strategic Plan is to 
simplify the deposit insurance rules to promote public understanding of 
deposit insurance. This rulemaking furthers that goal. It is also 
intended to reduce regulatory burden and improve

[[Page 22973]]

efficiency pursuant to the provisions of section 303(a) of CDRI.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           05/22/96                    61 FR 25596
ANPRM Comment Period End        08/20/96
NPRM                            05/14/97                    62 FR 26435
NPRM Comment Period End         08/12/97
Final Action                    05/00/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Joseph A. DiNuzzo, Senior Counsel, Legal Division, 
Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-7349

RIN: 3064-AB73
_______________________________________________________________________




4214. CAPITAL MAINTENANCE--COLLATERALIZED TRANSACTIONS

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: This rule was developed in consultation with the OCC, the 
FRS, and the OTS (Agencies). It amends FDIC's risk-based capital 
standards to make the standards uniform with the Agencies' treatments 
for transactions supported by collateral. The effect of the proposal is 
to allow banks to hold less capital for certain transactions 
collateralized by cash or qualifying securities.
This action is the result of a CDRI section 303(a) review.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/16/96                    61 FR 42565
NPRM Comment Period End         10/15/96
Final Action                    07/00/98

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-AB78
_______________________________________________________________________




4215. QUALIFICATION REQUIREMENTS FOR THE RECOMMENDATION OR SALE OF 
CERTAIN SECURITIES

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1818; 12 USC 1831

CFR Citation:  12 CFR 342

Legal Deadline: None

Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, and 
the FDIC. It establishes qualifications for those banks that sell 
certain securities directly to retail customers through their employees 
without having to register as a broker under the Securities Exchange 
Act. More particularly, this action establishes filing requirements for 
banks, and registration, testing, and continuing education requirements 
for bank securities representatives consistent with the professional 
qualification requirements for broker-dealers and registered 
representatives under the Securities Exchange Act and rules thereunder, 
and the rules of the securities self-regulatory organizations.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/30/96                    61 FR 68824
NPRM Comment Period End         02/28/97
Final Action                    05/00/98

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-AB85
_______________________________________________________________________




4216. NOTIFICATION OF CHANGES OF INSURED STATUS

Priority:  Info./Admin./Other

Legal Authority:  12 USC 1818; 12 USC 1819

CFR Citation:  12 CFR 307

Legal Deadline: None

Abstract: This rulemaking clarifies reporting and disclosure 
requirements already applicable to insured depository institutions. It 
implements the results of a CDRI section 303(a) review.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/14/97                    62 FR 26431
NPRM Comment Period End         07/14/97
Final Action                    06/00/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Rodney D. Ray, Counsel, Legal Division, Federal Deposit 
Insurance Corporation, Washington, DC 20429
Phone: 202 898-3556

RIN: 3064-AB88
_______________________________________________________________________




4217. FORMAL MINORITY- AND WOMEN-OWNED BUSINESS AND LAW FIRM 
CERTIFICATION PROGRAM

Priority:  Info./Admin./Other

Legal Authority:  12 USC 1819; 12 USC 1822

CFR Citation:  12 CFR 361

Legal Deadline: None

Abstract: This rulemaking replaces the self-certification program for 
minority- and women-owned businesses wishing to do business with the 
FDIC, with a more formal program for certification. The rulemaking is 
the result of a CDRI section 303(a) review.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/14/97                    62 FR 18059
NPRM Comment Period End         06/13/97
Final Action                    06/00/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Jo-Ann Henry, Director, Office of Diversity and 
Economic Opportunity, Federal Deposit Insurance Corporation, 
Washington, DC 20429
Phone: 202 416-6925

RIN: 3064-AB95
_______________________________________________________________________




4218. ADVERTISEMENT OF MEMBERSHIP

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1818; 12 USC 1819; 12 USC 1828

CFR Citation:  12 CFR 328

Legal Deadline: None

Abstract: This regulatory action consolidates provisions relating to

[[Page 22974]]

display of official signs; extends the official advertising statement 
that is currently required for insured banks to all insured depository 
institutions; streamlines exceptions to the use of the statement; 
prohibits use of the statement in advertisements concerning nondeposit 
investment products; and delegates authority to approve translations of 
the statement to certain FDIC officials. In addition, this action 
solicits comment on issues relating to advertisement of membership in 
the FDIC over a computer network such as the Internet. This action is 
the result of a CDRI section 303(a) review.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/11/97                    62 FR 06142
NPRM Comment Period End         04/14/97
Final Action                    06/00/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Marc J. Goldstrom, Counsel, Legal Division, Federal 
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-8807

RIN: 3064-AB99
_______________________________________________________________________




4219. RECEIVERSHIP RULES--SECURITY INTERESTS OF FEDERAL HOME LOAN BANKS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1821(d)(1); 12 USC 1819; 12 USC 1823(c)(4)

CFR Citation:  12 CFR 360

Legal Deadline: None

Abstract: This regulatory action removes provisions relating to the 
security interests of Federal Home Loan Banks because federal statutory 
protections make the regulatory provisions unnecessary. This action is 
the result of a CDRI section 303(a) review.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/20/97                    62 FR 07725
NPRM Comment Period End         04/21/97
Final Action                    07/00/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Mitchell Glassman, Deputy Director, Division of 
Resolutions and Receiverships, Federal Deposit Insurance Corporation, 
Washington, DC 20429
Phone: 202 898-6525

RIN: 3064-AC00
_______________________________________________________________________




4220. APPLICATIONS, REQUESTS, SUBMITTALS, DELEGATIONS OF AUTHORITY, AND 
NOTICES REQUIRED TO BE FILED BY STATUTE OR REGULATION

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 378; 12 USC 1813; 12 USC 1815; 12 USC 1816; 12 
USC 1817(j); 12 USC 1818; 12 USC 1819; 12 USC 1828; 12 USC 1831(e); 12 
USC 1831(o); 12 USC 1831(p-1); 15 USC 1607

CFR Citation:  12 CFR 303

Legal Deadline: None

Abstract: This rulemaking streamlines and updates the FDIC's 
regulations governing application procedures and delegations of 
authority. It implements the results of a CDRI section 303(a) review.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/09/97                    62 FR 52809
NPRM Comment Period End         01/07/98
Final Action                    08/00/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Marion Thickson, Assistant Regional Director, Division 
of Supervision, Federal Deposit Insurance Corporation
Phone: 202 942-3108

RIN: 3064-AC02
_______________________________________________________________________




4221. INSURED STATE NONMEMBER BANKS WHICH ARE MUNICIPAL SECURITIES 
DEALERS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 4803(a)

CFR Citation:  12 CFR 343

Legal Deadline: None

Abstract: This rulemaking proposes to rescind the regulation that 
requires insured state nonmember banks which are municipal securities 
dealers to file with the FDIC certain information about those persons 
who are or seek to be associated with these dealers as municipal 
securities principals or municipal securities representatives. This 
action is the result of a CDRI section 303(a) review.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/16/97                    62 FR 26994
NPRM Comment Period End         07/15/97
Final Action                    06/00/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Carol A. Mesheske, Chief, Special Activities Section, 
Division of Supervision, Federal Deposit Insurance Corporation, 
Washington, DC 20429
Phone: 202 898-6750

RIN: 3064-AC04
_______________________________________________________________________




4222. CAPITAL MAINTENANCE--TREATMENT OF SERVICING ASSETS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC 
1818(a); 12 USC 1818(b); 12 USC 1818(c); 12 USC 1818(t); 12 USC 1819 
(Tenth); 12 USC 1828(c); 12 USC 1828(d); 12 USC 1828(i); 12 USC 
1828(o); 12 USC 1828(n); 12 USC 1831o; 12 USC 3907

CFR Citation:  12 CFR 325

Legal Deadline: None

Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, OTS 
and the FDIC. The agencies propose to amend their capital adequacy 
standards for banks, bank holding companies, and savings associations 
(banking organizations) to address the treatment of servicing assets on 
both mortgage assets and financial assets other than mortgages (non-
mortgages).

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/04/97                    62 FR 42005
NPRM Comment Period End         10/03/97
Final Action                    05/00/98

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-AC07

[[Page 22975]]

_______________________________________________________________________




4223. RISK-BASED CAPITAL STANDARDS; UNREALIZED REVALUATION GAINS ON 
CERTAIN EQUITY SECURITIES

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC 
1818(a); 12 USC 1818(b); 12 USC 1818(c); 12 USC 1818(t); 12 USC 1819 
(Tenth); 12 USC 1828(c); 12 USC 1828(d); 12 USC 1828(i); 12 USC 
1828(n); 12 USC 1828(o); 12 USC 1835

CFR Citation:  12 CFR 325

Legal Deadline: None

Abstract: This rulemaking establishes uniform interagency rules 
enabling institutions to include in supplementary (Tier 2) capital up 
to 45 percent of unrealized gains on certain available-for-sale equity 
securities.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/27/97                    62 FR 55681
NPRM Comment Period End         12/26/97
Final Action                    06/00/98

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-AC11
_______________________________________________________________________




4224. ACTIVITIES OF INSURED STATE BANKS AND INSURED SAVINGS ASSOCIATIONS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 378; 12 USC 1813; 12 USC 1815; 12 USC 1816; 12 
USC 1817(j); 12 USC 1818; 12 USC 1819 (Seventh and Tenth); 12 USC 1828; 
12 USC 1831e; 12 USC 1831o; 12 USC 1831p-1; 15 USC 1607

CFR Citation:  12 CFR 362; 12 CFR 337; 12 CFR 303

Legal Deadline: None

Abstract: This rulemaking withdraws a proposed rule published August 
23, 1996, in the Federal Register at 61 FR 43486 (RIN 3064-AB75) to 
amend the FDIC's regulations governing the activities and investments 
of insured State banks, and replaces it with a more comprehensive rule.
The more comprehensive rulemaking combines the FDIC's regulations 
governing the activities and investments of insured State banks 
(presently found in 12 CFR part 362) with those governing insured 
savings associations (presently found at 12 CFR 303.12) into a revised 
part 362. In addition, the rule moves the FDIC's regulations governing 
safety and soundness of securities activities of subsidiaries and 
affiliates of insured State nonmember banks (currently at 12 CFR 337.4) 
into part 362. The intention is to modernize this group of regulations 
and harmonize the provisions of part 362 governing activities that are 
not permissible for national banks with those governing the securities 
activities of State nonmember banks.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/12/97                    62 FR 47969
NPRM Comment Period End         12/11/97
Final Action                    07/00/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Curtis Vaughn, Examination Specialist, Division of 
Supervision, Federal Deposit Insurance Corporation, Washington, DC 
20429
Phone: 202 898-6759

RIN: 3064-AC12
_______________________________________________________________________


FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)          Long-Term Actions


  



_______________________________________________________________________




4225. 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
_______________________________________________________________________




4226. 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: Stephen Ledbetter
Phone: 202 898-8658

RIN: 3064-AB46

[[Page 22976]]

_______________________________________________________________________


FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)          Completed Actions


  



_______________________________________________________________________




4227. DETERMINATION OF ECONOMICALLY DEPRESSED REGIONS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1819; 12 USC 1823

CFR Citation:  12 CFR 357

Legal Deadline: None

Abstract: The FDIC is required by statute to consider proposals for 
direct financial assistance by SAIF members having offices located in 
economically depressed regions and meeting certain other specified 
criteria, before grounds exist for the appointment of a conservator or 
receiver. In fulfilling this mandate, the FDIC established a list of 
ten such regions in 1990 with 12 CFR 357 (55 FR 11161). In 1992, the 
FDIC published a proposal that would have updated the list of 10 
regions, but that proposal was never finalized. This rulemaking 
withdraws the 1992 proposal, and revises the regulation by providing 
the methodology that the FDIC will use to determine which regions are 
economically depressed, rather than identifying and periodically 
updating a list of regions.
This action is the result of a CDRI section 303(a) review.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/18/92                    57 FR 60140
NPRM Comment Period End         02/16/93
Second NPRM                     08/06/96                    61 FR 40756
Second NPRM Comment Period End  10/07/96
Final Action                    03/03/98                    63 FR 10293
Final Action Effective          04/02/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: John O'Keefe, Chief, Economic Analysis Section, 
Division of Research and Statistics, Federal Deposit Insurance 
Corporation, Washington, DC 20429
Phone: 202 898-3945

RIN: 3064-AB08
_______________________________________________________________________




4228. INTERNATIONAL BANKING

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 378; 12 USC 1813; 12 USC 1815; 12 USC 1816; 12 
USC 1817(j); 12 USC 1818; 12 USC 1819 (Seventh and Tenth); 12 USC 1828; 
12 USC 1831e; 12 USC 1831o; 12 USC 1831p-1; 15 USC 1607

CFR Citation:  12 CFR 347; 12 CFR 325; 12 CFR 326; 12 CFR 327; 12 CFR 
346; 12 CFR 303; 12 CFR 351; 12 CFR 362

Legal Deadline: None

Abstract: This regulatory action revises and consolidates the FDIC's 
three different groups of rules and regulations governing international 
banking. The first group governs insured branches of foreign banks and 
specifies what deposit-taking activities are permissible for uninsured 
state-licensed branches of foreign banks. The second group governs the 
foreign branches of insured state nonmember banks, and also governs 
such banks' investment in foreign banks or other financial entities. 
The third group governs the international lending of insured state 
nonmember banks and specifies when reserves are required for particular 
international assets. This action is the result of a CDRI section 
303(a) review.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/15/97                    62 FR 37748
NPRM Comment Period End         09/15/97
Final Action                    04/08/98                    63 FR 17056
Final Action Effective          07/01/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Karen Walter, Assistant Director, Division of 
Supervision, Federal Deposit Insurance Corporation
Phone: 202 898-3540

RIN: 3064-AC05
_______________________________________________________________________




4229. ANNUAL INDEPENDENT AUDITS AND REPORTING REQUIREMENTS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1831m

CFR Citation:  12 CFR 363

Legal Deadline: None

Abstract: This regulation eliminates Schedule A to appendix A, ``Agreed 
Upon Procedures for Determining Compliance with Designated Laws.'' The 
regulation also amends the Guidelines and Interpretations published as 
an appendix to the annual independent audit rule. The changes delete 
certain filing requirements that have been determined to be 
unnecessary, and clarify ambiguities identified by the Corporation, 
financial institutions, and accountants since the audit rule was 
promulgated.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    11/28/97                    62 FR 63256
Final Action Effective          01/01/98

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-AC06
_______________________________________________________________________




4230. DISCLOSURE OF INFORMATION

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1819 (Seventh and Tenth); 5 USC 552

CFR Citation:  12 CFR 309

Legal Deadline:  Final, Statutory, October 2, 1997.

Abstract: This rulemaking proposes to amend the regulation governing 
the public disclosure of information to reflect recent changes in the 
Freedom of Information Act (FOIA) as a result of the enactment of the 
Electronic Freedom of Information Act Amendments of 1996 (E-FOIA). 
Among other things, the proposed rule implements expedited and ``multi-
track'' FOIA processing procedures; implements the processing deadlines 
and appeal rights created by E-FOIA; and describes the expended range 
of records available to the public through the FDIC's Public Reading 
Room and the FDIC's Internet World Wide Web page.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            01/02/98                    63 FR 00029
NPRM Comment Period End         02/02/98
Final Action                    04/03/98                    63 FR 16401
Final Action Effective          05/04/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Valerie J. Best, Assistant Executive Secretary, Office 
of the Executive Secretary, Federal Deposit Insurance Corporation, 
Washington, DC 20429

[[Page 22977]]

Phone: 202 898-3812

RIN: 3064-AC10
_______________________________________________________________________




4231.  PART 329: INTEREST ON DEPOSITS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1819; 12 USC 1828(g); 12 USC 1832(a)

CFR Citation:  12 CFR 329

Legal Deadline: None

Abstract: This regulatory action implements the statutory prohibition 
against the payment of interest on demand deposits for state nonmember 
banks and insured branches of foreign banks.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/16/97                    62 FR 53769
NPRM Comment Period End         12/15/97
Final Action                    02/19/98                     63 FR 8341
Final Action Effective          04/01/98

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Marc J. Goldstrum, Counsel, Legal Division, Federal 
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-8807

RIN: 3064-AC13
_______________________________________________________________________




4232.  RISK-BASED CAPITAL STANDARDS: MARKET RISK

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC 
1818(a); 12 USC 1818(b); 12 USC 1818(c); 12 USC 1818(t); 12 USC 
1819(Tenth); 12 USC 1828(c); 12 USC 1828(d); 12 USC 1828(i); 12 USC 
1828(n); 12 USC 1828(o); 12 USC 1831o; PL 102-233

CFR Citation:  12 CFR 325

Legal Deadline: None

Abstract: This rulemaking is sponsored jointly by the OCC, the FRS and 
the FDIC. The agencies are amending their respective risk-based capital 
standards for market risk applicable to certain banks and bank holding 
companies with significant trading activities. The amendment eliminates 
the requirement that when an institution measures specific risk using 
its internal model, the total capital charge for specific risk must 
equal at least 50 percent of the standard specific risk capital charge.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    12/30/97                    62 FR 68064
Final Action Effective          12/31/97

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-AC14
[FR Doc. 98-5169 Filed 04-24-98; 8:45 am]
BILLING CODE 6714-01-F