[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]


Part LII





Federal Deposit Insurance Corporation





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Semiannual Regulatory Agenda

[[Page 23848]]



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 (the FDIC) is 
hereby publishing items for the April 2000 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.'' 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.

     A number of the actions identified in this agenda have been 
developed following regulatory reviews required by the Gramm-Leach-
Bliley Act, or to implement other recent statutory mandates. Many 
of the FDIC's regulatory actions are coordinated with other Federal 
regulators of financial institutions, primarily 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.

 Robert E. Feldman,

Executive Secretary.

                           Federal Deposit Insurance Corporation--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4156        12 CFR 325 Capital Maintenance -- Recourse Arrangements and Direct Credit                3064-AB31
            Substitutes.........................................................................
4157        12 CFR 308 Program Fraud Civil Remedies.............................................     3064-AB41
4158        12 CFR 307 Notification of Assumption of Deposits and Change of Insured Status......     3064-AB88
4159        12 CFR 360 Receivership Rules.......................................................     3064-AB92
4160        12 CFR 325 Risk-Based Capital Standards: Claims on Securities Firms.................     3064-AC17
4161        12 CFR 366 Contractor Conflict of Interest..........................................     3064-AC29
4162        CRA Sunshine........................................................................     3064-AC33
4163        12 CFR 325 Retained Interests.......................................................     3064-AC34
4164        Fair Credit Reporting Act Regulations...............................................     3064-AC35
4165        12 CFR 369 Prohibition Against Use of Interstate Branches Primarily For Deposit          3064-AC36
            Production..........................................................................
4166        Retail Sales of Insurance Products..................................................     3064-AC37
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                             Federal Deposit Insurance Corporation--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4167        12 CFR 325 Capital Maintenance -- Collateralized Transactions.......................     3064-AB78
4168        12 CFR 342 Qualification Requirements for the Recommendation or Sale of Certain          3064-AB85
            Securities..........................................................................
4169        12 CFR 328 Advertisement of Membership..............................................     3064-AB99
4170        12 CFR 362 Activities of Insured State Banks and Insured Savings Associations.......     3064-AC20
4171        12 CFR 361 Minority and Women Outreach Program--Contracting.........................     3064-AC21
4172        12 CFR 360 Treatment by the FDIC as Conservator or Receiver of Financial Assets          3064-AC28
            Transferred by an Insured Depository Institution in Connection With a Securitization
            or Participation....................................................................
4173        12 CFR 332 Privacy of Consumer Financial Information................................     3064-AC32
4174        12 CFR 362 Activities of Insured State Banks and Insured Savings Associations.......     3064-AC38
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[[Page 23849]]


                            Federal Deposit Insurance Corporation--Long-Term Actions
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                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
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4175        12 CFR 308 Censure, Suspension, and Debarment of Independent Public Accountants.....     3064-AA64
4176        12 CFR 327 Assessments -- Assessment Base...........................................     3064-AB46
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                            Federal Deposit Insurance Corporation--Completed Actions
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                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4177        12 CFR 340 Restrictions on Sale of Assets by the FDIC...............................     3064-AB37
4178        12 CFR 343 Insured State Nonmember Banks Which Are Municipal Securities Dealers.....     3064-AC04
4179        12 CFR 339 Loans in Areas Having Special Flood Hazards..............................     3064-AC24
4180        12 CFR 308 Technical Amendments to FDIC Regulations Relating to Rules of Practice        3064-AC30
            and Procedure and Deposit Insurance Coverage........................................
4181        12 CFR 327 Assessments..............................................................     3064-AC31
----------------------------------------------------------------------------------------------------------------

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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)        Proposed Rule Stage


  



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4156. CAPITAL MAINTENANCE -- RECOURSE ARRANGEMENTS AND DIRECT CREDIT 
SUBSTITUTES

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(d); 12 USC 1828(i); 12 USC 1828(n); 12 USC 
1828(o); 12 USC 1831o; 12 USC 3907; 12 USC 3909; 12 USC 1835; 12 USC 
4808; 12 USC 1828(c); PL 102-233; 105 Stat 1761; 105 Stat 1789; 105 
Stat 1790; 105 Stat 2236

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, the 
FDIC, and the OTS. The rulemaking revises risk-based capital standards 
by addressing the regulatory capital treatment of recourse obligations 
and direct credit substitutes that expose banks, bank holding 
companies, and thrifts to credit risk. The revision treats recourse 
obligations and direct credit substitutes more consistently than under 
the agencies' current risk-based capital standards. In addition, the 
revision allows the agencies to use credit ratings and certain 
alternative approaches to match the risk-based capital requirement more 
closely to a banking organization's relative risk of loss in asset 
securitizations. The rulemaking also requires the sponsor of a 
revolving credit securitization that involves an early amortization 
feature to hold capital against the amount of assets under management, 
i.e., the off balance sheet securitized receivables. The rulemaking is 
intended to result in more consistent treatment of recourse obligations 
and similar transactions among the agencies, more consistent risk-based 
capital treatment for certain types of transactions involving similar 
risk, and capital requirements that more closely reflect a banking 
organization's relative exposure to credit risk.

Timetable:
________________________________________________________________________

Credit Ratings  ANPRM 05/25/94 (59 FR 27116)

Recourse/Direct Credit Substitutes  NPRM 05/25/94 (59 FR 27116)  Second 
NPRM 03/08/00 (65 FR 12360)  Second NPRM Comment Period End 06/00/00

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

Regulatory Flexibility Analysis Required: No

Small Entities Affected: 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
_______________________________________________________________________




4157. PROGRAM FRAUD CIVIL REMEDIES

Priority: Substantive, Nonsignificant

Legal Authority: 5 USC 504; 5 USC 554-557; 12 USC 93(b); 12 USC 164; 12 
USC 505; 12 USC 1817; 12 USC 1818; 12 USC 1820; 12 USC 1828; 12 USC 
1829; 12 USC 1829b; 12 USC 1831o; 12 USC 1832(c); 12 USC 1884(b); 12 
USC 1972; 12 USC 3102; 12 USC 3108(a); 12 USC 3349; 12 USC 3909; 12 USC 
4717; 15 USC 78(h); 15 USC 78(i); 31 USC 330; 42 USC 4012a; PL 104-134

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

[[Page 23850]]

regulations set forth by the Council's task force.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Michelle Borzillo, Counsel, Legal Division, Federal 
Deposit Insurance Corporation, Washington, DC, 20429
Phone: 202 898-7400

RIN: 3064-AB41
_______________________________________________________________________




4158. NOTIFICATION OF ASSUMPTION OF DEPOSITS AND CHANGE OF INSURED 
STATUS

Priority: Substantive, Nonsignificant

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. Due 
to comments received, a second NPRM on this subject will be issued 
rather than finalizing the rule proposed in May 1997.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/14/97                    62 FR 26431
NPRM Comment Period End         07/14/97
Second NPRM                     08/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

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
_______________________________________________________________________




4159. 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                            08/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

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

RIN: 3064-AB92
_______________________________________________________________________




4160. 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 revises the FDIC's risk-based capital 
standards set forth in the Basle Accord. This revision permits claims 
on certain securities firms to receive the same preferential risk-
weighting that is applied to claims on banks.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/00

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
_______________________________________________________________________




4161. CONTRACTOR CONFLICT OF INTEREST

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1819; 12 USC 1822(f)(3); 12 USC 1822(f)(4)

CFR Citation: 12 CFR 366

Legal Deadline: None

Abstract: This rulemaking clarifies that Part 366 does not pertain to 
FDIC contractors who intend to purchase assets from the FDIC. Conflicts 
of interest regarding contractors that intend to purchase assets from 
the FDIC will be covered by an FDIC circular regarding the sale of 
assets to restricted contractors.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Richard M. Handy, Assistant Executive Secretary 
(Ethics), Office of the Executive Secretary, Federal Deposit Insurance 
Corporation, Washington, DC 20429
Phone: 202 898-7271

RIN: 3064-AC29
_______________________________________________________________________




4162.  CRA SUNSHINE

Priority: Substantive, Nonsignificant

Legal Authority: PL 106-102

CFR Citation: Not Yet Determined

Legal Deadline: None

Abstract: This rulemaking implements the requirements of Section 711 of 
the Gramm-Leach-Bliley Act. Section 711 requires an insured depository 
institution to disclose any agreement with non-governmental entities in 
connection with the CRA, if the agreement involves a grant of more than 
$10,000 or a loan of more than $50,000 to the community group annually. 
In addition, annual reports must be made by the depository institutions 
and the non-governmental entities to the appropriate federal banking 
agency of the institutions containing information about the payments, 
loans, and fees paid under

[[Page 23851]]

the agreement, and how the non-governmental entity used the funds.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/00

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Deanna Caldwell, Community Affairs Officer, Division of 
Compliance and Consumer Affairs, Federal Deposit Insurance Corporation
Phone: 202 736-0141

RIN: 3064-AC33
_______________________________________________________________________




4163.  RETAINED INTERESTS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a)

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This interagency rulemaking amends capital rules to provide 
that the value of certain retained interests in securitizations not 
supported by a readily available market quote would be deducted from 
Tier 1 capital for regulatory capital purposes.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/00

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

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

RIN: 3064-AC34
_______________________________________________________________________




4164.  FAIR CREDIT REPORTING ACT REGULATIONS

Priority: Substantive, Nonsignificant

Legal Authority: 15 USC 1681-1681u; PL 104-208; 110 Stat 3009; PL 106-
102; 15 USC 6806

CFR Citation: Not Yet Determined

Legal Deadline: None

Abstract: Section 506 of the Gramm-Leach-Bliley Act restored the 
authority of the federal banking agencies to examine banks and thrifts 
for compliance with the Fair Credit Reporting Act without the 
requirement that an agency first have a complaint or other knowledge of 
a violation. Section 506 also requires the federal banking agencies to 
jointly prescribe regulations necessary to carry out the purposes of 
the FCRA, with respect to financial institutions within their 
jurisdiction. This rulemaking implements that requirement.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            05/00/00

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Deanna Caldwell, Community Affairs Officer, Division of 
Compliance and Consumer Affairs, Federal Deposit Insurance Corporation
Phone: 202 736-0141

RIN: 3064-AC35
_______________________________________________________________________




4165.  PROHIBITION AGAINST USE OF INTERSTATE BRANCHES PRIMARILY 
FOR DEPOSIT PRODUCTION

Priority: Substantive, Nonsignificant

Legal Authority: PL 106-102

CFR Citation: 12 CFR 369

Legal Deadline: None

Abstract: The rulemaking implements Section 106 of the Gramm-Leach-
Bliley Act, which amends the Riegle-Neal Interstate Banking and 
Branching Efficiency Act of 1994 to provide that any branch of a bank 
controlled by an out-of-state bank holding company is considered to be 
an interstate branch for purposes of Riegle-Neal.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/00/00

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Steve Fritts, Associate Director, Division of 
Compliance and Consumer Affairs, Federal Deposit Insurance Corporation
Phone: 202 942-3454

RIN: 3064-AC36
_______________________________________________________________________




4166.  RETAIL SALES OF INSURANCE PRODUCTS

Priority: Substantive, Nonsignificant

Legal Authority: PL 106-102

CFR Citation: Not Yet Determined

Legal Deadline: None

Abstract: The rulemaking implements Section 305 of the Gramm-Leach-
Bliley Act of 1999, which requires regulations governing retail sales 
of insurance products by depository institutions (and subsidiaries) 
including antitying and anticoercion rules, and mandatory disclosures. 
In addition, the joint rulemaking establishes a consumer grievance 
process.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/00

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

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

RIN: 3064-AC37

[[Page 23852]]

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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)           Final Rule Stage


  



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4167. 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.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

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

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-AB78
_______________________________________________________________________




4168. 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                    10/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: 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
_______________________________________________________________________




4169. 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.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/11/97                    62 FR 06142
NPRM Comment Period End         04/14/97
Final Action                    09/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: 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
_______________________________________________________________________




4170. 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 adds 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 requires that 
insured State nonmember banks file a notice before commencing any 
activities permissible for the parent national bank itself.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/01/98                    63 FR 66339
NPRM Comment Period End         02/01/99
Final Action                    10/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

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

RIN: 3064-AC20
_______________________________________________________________________




4171. MINORITY AND WOMEN OUTREACH PROGRAM--CONTRACTING

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1833e(c)

[[Page 23853]]

CFR Citation: 12 CFR 361

Legal Deadline: None

Abstract: This rulemaking utilizes 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. The rulemaking also amends regulations 
establishing an outreach program for minority-and women-owned 
businesses as well as small disadvantaged businesses.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            08/06/99                    64 FR 42862
NPRM Comment Period End         10/05/99
Final Action                    05/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: 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
_______________________________________________________________________




4172. TREATMENT BY THE FDIC AS CONSERVATOR OR RECEIVER OF FINANCIAL 
ASSETS TRANSFERRED BY AN INSURED DEPOSITORY INSTITUTION IN CONNECTION 
WITH A SECURITIZATION OR PARTICIPATION

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1821(d)(1); 12 USC 1821(d)(11); 12 USC 
1821(e)(1); 12 USC 1821(e)(8)(D)(1); 12 USC 1823(c)(4); 12 USC 
1823(e)(2); PL 101-73

CFR Citation: 12 CFR 360

Legal Deadline: None

Abstract: This rulemaking resolves issues regarding the treatment by 
the FDIC, as receiver or conservator, of financial assets transferred 
by an insured depository institution in connection with a 
securitization or in the form of a participation.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/09/99                    64 FR 48968
NPRM Comment Period End         11/08/99
Final Action                    08/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Michael Krimminger, Senior Policy Analyst, Division of 
Resolution and Receiverships, Federal Deposit Insurance Corporation, 
Washington, DC 20429
Phone: 202 898-8950

RIN: 3064-AC28
_______________________________________________________________________




4173.  PRIVACY OF CONSUMER FINANCIAL INFORMATION

Priority: Substantive, Nonsignificant

Legal Authority: PL 106-102

CFR Citation: 12 CFR 332

Legal Deadline: Final, Statutory, May 12, 2000.

Abstract: This rulemaking is sponsored jointly by the OCC, FRS, FDIC, 
and the OTS. The rulemaking implements privacy rule reqirements 
pursuant to section 504 of the Gramm-Leach-Bliley Act. Section 504 
requires notice requirements and restrictions regarding a financial 
institution's disclosures of nonpublic personal information about 
consumers to nonaffiliated third parties. The rulemaking requires 
financial institutions to provide their customers with a notice of 
their privacy policies and practices, and prohibits institutions from 
disclosing nonpublic personal information about consumers to 
nonaffiliated third parties unless the institutions satisfy various 
disclosure requirements and the consumer has not elected to opt out of 
the disclosure.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/22/00                     65 FR 8770
NPRM Comment Period End         03/31/00
Final Action                    05/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: James Densmore, Regional Director, Division of 
Compliance and Consumer Affairs, Federal Deposit Insurance Corporation, 
Washington DC, 20429
Phone: 202 736-0106

RIN: 3064-AC32
_______________________________________________________________________




4174.  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; 12 USC 1818; 12 USC 1820; 12 USC 1823; 12 USC 1828; 12 USC 
1828a; 12 USC 1831a; 12 USC 1831e; 12 USC 1831p-1; 12 USC 1831w; 12 USC 
1835a; 12 USC 3104; 12 USC 3105; 12 USC 3108; 12 USC 3207; 15 USC 1601-
1607; 12 USC 375a(4); 12 USC 375b; 12 USC 1818(a); 12 USC 1819; 12 USC 
1820(d)(10); 12 USC 1821(f); 12 USC 1828(j)(2); 12 USC 1831f; 12 USC 
1831f-1; 12 USC 1819(a)(Tenth); 12 USC 1828(m)

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

Legal Deadline: Final, Statutory, March 11, 2000.

Abstract: This rulemaking amends the FDIC's regulations governing 
activities and investments of insured state banks to require that 
notices be filed before insured state nonmember banks conduct 
activities through a subsidiary if those activities must be conducted 
in a financial subsidiary of a national bank. This subpart allows the 
FDIC to impose standards and prudential safeguards when insured state 
nonmember banks engage in activities that a national bank must conduct 
in a financial subsidiary. It also requires insured state nonmember 
banks to meet the mandatory CRA compliance requirement before engaging 
in these activities under this subpart. In addition, this subpart 
contains the required prudential separations between certain securities 
affiliates and insured state nonmember banks. The rulemaking also 
removes and reserves the provisions addressing, ``Securities Activities 
of Subsidiaries of Insured State Banks: Bank Transactions with 
Affiliated Securities Companies.'' The effect of these amendments will 
be to require banks to notify the FDIC prior to conducting securities 
or other activities through subsidiaries that are not permissible for 
national banks directly. The rulemaking also adds certain technical 
amendments to correct missing citations or incorrect cross-references 
and similar matters.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule              03/23/00                    65 FR 15526

[[Page 23854]]

Interim Final Rule Effective    03/11/00
Interim Final Rule Comment 
Period End                      05/00/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

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

RIN: 3064-AC38
_______________________________________________________________________


FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)          Long-Term Actions


  



_______________________________________________________________________




4175. 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
_______________________________________________________________________




4176. 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: Frederick S. Carns
Phone: 202 898-3930

RIN: 3064-AB46
_______________________________________________________________________


FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)          Completed Actions


  



_______________________________________________________________________




4177. 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                            09/21/99                    64 FR 51084
NPRM Comment Period End         12/20/99
Final Action                    03/20/00                    65 FR 14816
Final Action Effective          07/01/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

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

RIN: 3064-AB37
_______________________________________________________________________




4178. 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 rescinded the regulation that required 
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 was 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                    11/16/99                    64 FR 62103
Final Action Effective          12/16/99

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

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

RIN: 3064-AC04
_______________________________________________________________________




4179. LOANS IN AREAS HAVING SPECIAL FLOOD HAZARDS

Priority: Substantive, Nonsignificant

Legal Authority: 42 USC 4012a; 42 USC 4104a; 42 USC 4104b; 42 USC 4106; 
42 USC 4128

CFR Citation: 12 CFR 339

Legal Deadline: None

Abstract: This rulemaking makes a technical amendment to the flood 
insurance regulations of the Federal banking agencies. It is necessary 
due

[[Page 23855]]

to the elimination by the FEMA of reference to the Standard Flood 
Hazard Determination Form from its regulations.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    12/21/99                    64 FR 71272
Final Action Effective          12/21/99

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

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-AC24
_______________________________________________________________________




4180. TECHNICAL AMENDMENTS TO FDIC REGULATIONS RELATING TO RULES OF 
PRACTICE AND PROCEDURE AND DEPOSIT INSURANCE COVERAGE

Priority: Substantive, Nonsignificant

Legal Authority: 5 USC 504; 5 USC 554-557; 12 USC 93(b); 12 USC 164; 12 
USC 505; 12 USC 1815(e); 12 USC 1817; 12 USC 1818; 12 USC 1820; 12 USC 
1828; 12 USC 1829; 12 USC 1829b; 12 USC 1831i; 12 USC 1831o; 12 USC 
1831p-1; 12 USC 1832(c); 12 USC 1884(b)

CFR Citation: 12 CFR 308; 12 CFR 330

Legal Deadline: None

Abstract: This rulemaking amends various sections of the FDIC's Rules 
of Practice and Procedure (12 CFR 308) governing administrative 
enforcement proceedings. The amendments are generally technical in 
nature and are necessary to ensure that the rules are consistent with 
statutory provisions and procedural changes that have occurred since 
the rules were first adopted. The FDIC also is making a conforming, 
technical amendment to its deposit insurance regulations (12 CFR 330) 
that was inadvertently omitted from a regulatory action effective on 
April 1, 1999.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    11/16/99                    64 FR 62096
Final Action Effective          11/16/99

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

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

RIN: 3064-AC30
_______________________________________________________________________




4181. ASSESSMENTS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1441; 12 USC 1441b; 12 USC 1813; 12 USC 1815; 
12 USC 1817-1819; PL 104-208; 12 USC 1812

CFR Citation: 12 CFR 327

Legal Deadline: None

Abstract: This rulemaking made several changes to FDIC's regulations 
governing assessments. The FDIC changed the reporting date used to 
determine the capital component of the assessment risk classification 
assigned to FDIC-insured depository institutions. That date moved 
closer by one calendar quarter to the assessment period for which the 
capital component is assigned. The FDIC also shortened from 30 days to 
15 days the prior notice that the FDIC sends to institutions advising 
them of their assessment risk classification for the following 
semiannual assessment period. The same reduction also was applied to 
the invoice sent by the FDIC each quarter showing the amount of the 
assessment payment due for the next quarterly collection. At the other 
end of the process, the FDIC increased from 30 days to 90 days the time 
within which an institution may request review of its assessment risk 
classification.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/08/99                    64 FR 48719
NPRM Comment Period End         10/25/99
Final Action                    12/16/99                    64 FR 70178
Final Action Effective          04/01/00

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: James W. Thornton, Senior Banking Analyst, Division of 
Insurance, Federal Deposit Insurance Corporation, Washington, DC 20429
Phone: 202 898-6707

RIN: 3064-AC31
[FR Doc. 00-5321 Filed 04-21-00; 8:45 am]
BILLING CODE 6714-01-F
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