[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 LV



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: Semiannual regulatory agenda.

_______________________________________________________________________

SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is hereby 
publishing items for the April 1999 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.'' This 
policy was revised recently (63 FR 25157, May 7, 1998) to focus it more 
sharply on the FDIC's approach to regulatory reform.

    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.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Executive Secretary.

                                               Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4226        12 CFR 340   Restrictions on Sale of Assets by the FDIC...............................    3064-AB37
4227        12 CFR 308   Program Fraud Civil Remedies.............................................    3064-AB41
4228        12 CFR 360   Receivership Rules.......................................................    3064-AB92
4229        12 CFR 361   Minority and Women Outreach Program--Contracting.........................    3064-AC21
----------------------------------------------------------------------------------------------------------------


                                                Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4230        12 CFR 325   Capital Maintenance--Recourse Arrangements and Direct Credit Substitutes.    3064-AB31
4231        12 CFR 325   Capital Maintenance--Collateralized Transactions.........................    3064-AB78
4232        12 CFR 342   Qualification Requirements for the Recommendation or Sale of Certain         3064-AB85
            Securities............................................................................
4233        12 CFR 307   Notification of Changes of Insured Status................................    3064-AB88
4234        12 CFR 361   Formal Minority- and Women-Owned Business and Law Firm Certification         3064-AB95
            Program...............................................................................
4235        12 CFR 328   Advertisement of Membership..............................................    3064-AB99
4236        12 CFR 343   Insured State Nonmember Banks Which Are Municipal Securities Dealers.....    3064-AC04
4237        12 CFR 348   Management Interlocks Act................................................    3064-AC08
4238        12 CFR 347   Foreign Activities of Insured State Nonmember Banks......................    3064-AC15
4239        12 CFR 325   Risk-Based Capital Standards: Claims on Securities Firms.................    3064-AC17
4240        12 CFR 364   Interagency Guidelines Establishing Year 2000 Standards for Safety and       3064-AC18
            Soundness.............................................................................
4241        12 CFR 362   Activities of Insured State Banks and Insured Savings Associations.......    3064-AC20
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                                                Long-Term Actions
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                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
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4242        12 CFR 308   Censure, Suspension, and Debarment of Independent Public Accountants.....    3064-AA64
4243        12 CFR 327   Assessments--Assessment Base.............................................    3064-AB46
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                                                Completed Actions
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                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4244        12 CFR 325   Capital Maintenance--Elimination of Interagency Differences..............    3064-AB96
4245        12 CFR 362   Activities of Insured State Banks and Insured Savings Associations.......    3064-AC12
4246        12 CFR 330   Deposit Insurance Regulations; Joint Accounts and ``Payable on Death''       3064-AC16
            Accounts..............................................................................
4247        12 CFR 326   ``Know Your Customer'' Requirements......................................    3064-AC19
----------------------------------------------------------------------------------------------------------------

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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)        Proposed Rule Stage




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4226. 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                            06/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Steve Trout, Division of Resolutions and Receiverships, 
Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 416-4231

RIN: 3064-AB37
_______________________________________________________________________




4227. 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                            04/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

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

RIN: 3064-AB41
_______________________________________________________________________




4228. 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 other technical and 
clarifying changes to part 360.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

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

RIN: 3064-AB92
_______________________________________________________________________




4229.  MINORITY AND WOMEN OUTREACH PROGRAM--CONTRACTING

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1833e(c)

[[Page 22316]]

CFR Citation:  12 CFR 361

Legal Deadline: None

Abstract: This rulemaking proposes a statement of policy to utilize the 
Federal Affirmative Action Contracting Program, set forth in the 
Federal Acquisition Regulations, 48 CFR parts 19 and 52, providing 
contracting incentives to small disadvantaged businesses and proposes 
to amend its regulations establishing an outreach program for minority- 
and women-owned businesses as well as small disadvantaged businesses.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Martin Blumenthal, Counsel, Legal Division, Federal 
Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 736-0756

RIN: 3064-AC21
_______________________________________________________________________


FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)           Final Rule Stage




_______________________________________________________________________




4230. 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                    05/00/99
Credit Ratings  ANPRM 05/25/94 (59 FR 27116)

Recourse/Direct Credit Substitutes  NPRM 05/25/94 (59 FR 27116)

Synthesis of Credit Ratings/Recourse/Direct Credit Substitutes  NPRM 
11/05/97 (62 FR 59944)

Regulatory Flexibility Analysis Required: No

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
_______________________________________________________________________




4231. 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                    06/00/99

Regulatory Flexibility Analysis Required: No

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
_______________________________________________________________________




4232. 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.

[[Page 22317]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/30/96                    61 FR 68824
NPRM Comment Period End         02/28/97
Final Action                    05/00/99

Regulatory Flexibility Analysis Required: No

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
_______________________________________________________________________




4233. 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                    04/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

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

RIN: 3064-AB88
_______________________________________________________________________




4234. 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                    10/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Judith M. Wood, Chief, MWOP, Office of Diversity and 
Economic Opportunity, Federal Deposit Insurance Corporation, 
Washington, DC 20429
Phone: 202 416-2456

RIN: 3064-AB95
_______________________________________________________________________




4235. 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 
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                    04/00/99

Regulatory Flexibility Analysis Required: No

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
_______________________________________________________________________




4236. 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                    07/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Keith Ligon, Chief, Policy Unit, Federal Deposit 
Insurance Corporation, Division of Supervision, Washington, DC 20429
Phone: 202 898-3618

RIN: 3064-AC04
_______________________________________________________________________




4237. 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 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.

[[Page 22318]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/11/98                    63 FR 43052
NPRM Comment Period End         10/13/98
Final Action                    04/00/99

Regulatory Flexibility Analysis Required: No

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
_______________________________________________________________________




4238. FOREIGN ACTIVITIES OF INSURED STATE NONMEMBER BANKS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1813; 12 USC 1815; 12 USC 1817; 12 USC 1819; 
12 USC 1820; 12 USC 1828; 12 USC 3103; 12 USC 3104; 12 USC 3105; 12 USC 
3108; PL 98-181

CFR Citation:  12 CFR 347

Legal Deadline: None

Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, and 
the FDIC. It implements the provisions related to an extended 
examination cycle for U.S. branches and agencies of foreign banks set 
out in section 2214 of the Economic Growth and Regulatory Paperwork 
Reduction Act of 1996 (EGRPRA).

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule              08/28/98                    63 FR 46118
Interim Final Rule Comment 
Period End                      10/27/98
Final Action                    04/00/99

Regulatory Flexibility Analysis Required: No
Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Karen Walter, Chief, International Branch, Division of 
Supervision, Federal Deposit Insurance Corporation, Washington, DC 
20429
Phone: 202 898-3540

RIN: 3064-AC15
_______________________________________________________________________




4239. RISK-BASED CAPITAL STANDARDS: CLAIMS ON SECURITIES FIRMS

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; 12 USC 1835

CFR Citation:  12 CFR 325

Legal Deadline: None

Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, the 
FDIC and OTS. This interim rule would revise the FDIC's risk-based 
capital standards set forth in the Basle Accord. This revision would 
permit claims on certain securities firms to receive the same 
preferential risk-weighting that is applied to claims on banks.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule              07/00/99

Regulatory Flexibility Analysis Required: No
Small Entities Affected: No

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-AC17
_______________________________________________________________________




4240. INTERAGENCY GUIDELINES ESTABLISHING YEAR 2000 STANDARDS FOR SAFETY 
AND SOUNDNESS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1819 (Tenth); 12 USC 1831p-1

CFR Citation:  12 CFR 364

Legal Deadline: None

Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, the 
OTS, and the FDIC. It provides interim guidelines establishing Year 
2000 safety and soundness standards for insured depository institutions 
pursuant to section 39 of the Federal Deposit Insurance Act.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule              10/15/98                    63 FR 55480
Interim Final Rule Comment 
Period End                      12/14/98
Final Action                    04/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Frank Hartigan, Year 2000 Project Manager, Division of 
Supervision, Federal Deposit Insurance Corporation, Washington, DC 
20429
Phone: 202 898-6867

RIN: 3064-AC18
_______________________________________________________________________




4241. ACTIVITIES OF INSURED STATE BANKS AND INSURED SAVINGS ASSOCIATIONS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 375a(4); 12 USC 375b; 12 USC 1816; 12 USC 
1818(a); 12 USC 1818(b); 12 USC 1819; 12 USC 1820(d)(10); 12 USC 
1821(f); 12 USC 1818; 12 USC 1819 (Tenth); 12 USC 1828(m); 12 USC 
1831a; 12 USC 1831e

CFR Citation:  12 CFR 362; 12 CFR 337

Legal Deadline: None

Abstract: This rulemaking proposes to add safety and soundness 
standards to govern insured State nonmember banks that engage in the 
public sale, distribution or underwriting of stocks, bonds, debentures, 
notes or other securities through a subsidiary if those activities are 
permissible for a national bank subsidiary but are not permissible for 
the national bank itself. In addition, the rulemaking proposes to 
require that insured State nonmember banks file a notice before 
commencing any activities permissible for the parent national bank 
itself. The rulemaking also proposes to remove and reserve the 
provisions addressing ``Securities Activities of Subsidiaries of 
Insured State Banks: Bank Transactions with Affiliated Securities 
Companies.''

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/01/98                    63 FR 66339
NPRM Comment Period End         02/01/99
Final Action                    06/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

[[Page 22319]]

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

RIN: 3064-AC20
_______________________________________________________________________


FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)          Long-Term Actions




_______________________________________________________________________




4242. CENSURE, SUSPENSION, AND DEBARMENT OF INDEPENDENT PUBLIC 
ACCOUNTANTS

Priority:  Substantive, Nonsignificant

CFR Citation:  12 CFR 308

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                             To Be                       Determined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

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

RIN: 3064-AA64
_______________________________________________________________________




4243. 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                             To Be                       Determined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Fred Carns
Phone: 202 898-3930

RIN: 3064-AB46
_______________________________________________________________________


FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)          Completed Actions




_______________________________________________________________________




4244. 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                            10/27/97                    62 FR 55686
NPRM Comment Period End         12/26/97
Final Action                    03/02/99                    64 FR 10194
Final Action Effective          04/01/99

Regulatory Flexibility Analysis Required: No

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
_______________________________________________________________________




4245. 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                    12/01/98                    63 FR 66276
Final Action Effective          01/01/99

Regulatory Flexibility Analysis Required: No

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


_______________________________________________________________________



[[Page 22320]]

4246. DEPOSIT INSURANCE REGULATIONS; JOINT ACCOUNTS AND ``PAYABLE ON 
DEATH'' ACCOUNTS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1813(l); 12 USC 1813(m); 12 USC 1817(i); 12 
USC 1818(q); 12 USC 1819(Tenth); 12 USC 1820(f); 12 USC 1821(a); 12 USC 
1822(c)

CFR Citation:  12 CFR 330

Legal Deadline: None

Abstract: This rulemaking proposes to amend regulations governing the 
insurance coverage of joint ownership accounts and revocable trust (or 
payable-on-death) accounts.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/17/98                    63 FR 38521
NPRM Comment Period End         10/15/98
Final Action                    04/01/99                    64 FR 15653
Final Action Effective          04/01/99

Regulatory Flexibility Analysis Required: No
Small Entities Affected: No

Government Levels Affected: None

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

RIN: 3064-AC16
_______________________________________________________________________




4247. ``KNOW YOUR CUSTOMER'' REQUIREMENTS

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 1813; 12 USC 1815; 12 USC 1817; 12 USC 1818; 
12 USC 1819 (Tenth); 12 USC 1881 to 1883; 31 USC 5318; 42 USC 4012a; 42 
USC 4104b; 42 USC 4106

CFR Citation:  12 CFR 326

Legal Deadline: None

Abstract: This rulemaking proposes to issue regulations requiring 
insured nonmember banks to develop and maintain ``Know Your Customer'' 
programs, and report any transactions of its customers that are 
determined to be suspicious, in accordance with the FDIC's existing 
suspicious activity reporting regulations.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/07/98                    63 FR 67529
NPRM Comment Period End         03/08/99
Withdrawn                       03/29/99                    64 FR 14845

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

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

RIN: 3064-AC19
[FR Doc. 99-4916 Filed 04-23-99; 8:45 am]
BILLING CODE 6714-01-F
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