[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 LI





Federal Deposit Insurance Corporation





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Semiannual Regulatory Agenda

[[Page 34148]]



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 Spring 2002 Unified Agenda of Regulatory and 
Deregulatory Actions. 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 the Regulatory 
Flexibility Act (5 U.S.C. 601 et seq.). 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 to implement provisions of 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.

Federal Deposit Insurance Corporation.

 Robert E. Feldman,

Executive Secretary.

                              Federal Deposit Insurance Corporation--Prerule Stage
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                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
3828        12 CFR 327 Assessments--Assessment Base.............................................     3064-AB46
----------------------------------------------------------------------------------------------------------------


                           Federal Deposit Insurance Corporation--Proposed Rule Stage
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                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
3829        12 CFR 366 Contractor Conflict of Interest (Section 610 Review).....................     3064-AC29
3830        12 CFR 334 Fair Credit Reporting Act Regulations....................................     3064-AC35
3831        12 CFR 313 Procedures for the Collection of Corporate Debt by Administrative Offset.     3064-AC40
3832        Brokers and Dealers.................................................................     3064-AC42
3833        12 CFR 330 Deposit Insurance Coverage...............................................     3064-AC43
3834        12 CFR 325 Simplified Capital Framework for Noncomplex Financial Institutions.......     3064-AC44
3835        12 CFR 303 Filing Procedures and Delegations of Authority...........................     3064-AC51
----------------------------------------------------------------------------------------------------------------


                             Federal Deposit Insurance Corporation--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
3836        12 CFR 342 Qualification Requirements for the Recommendation or Sale of Certain          3064-AB85
            Securities..........................................................................
3837        12 CFR 360 Payment of Post-Insolvency Interest in Receiverships With Surplus Funds..     3064-AB92
3838        12 CFR 325 Risk-Based Capital Standards: Claims on Securities Firms.................     3064-AC17
3839        12 CFR 369 Prohibition Against Use of Interstate Branches Primarily For Deposit          3064-AC36
            Production..........................................................................
3840        12 CFR 325 Risk-Based Capital Guidelines: Market Risk Measure; Securities Borrowing      3064-AC46
            Transactions........................................................................
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[[Page 34149]]


                            Federal Deposit Insurance Corporation--Long-Term Actions
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                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
3841        12 CFR 345 Community Reinvestment Act Regulations (Section 610 Review)..............     3064-AC50
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                            Federal Deposit Insurance Corporation--Completed Actions
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                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
3842        12 CFR 308 Censure, Suspension, and Debarment of Independent Public Accountants.....     3064-AA64
3843        12 CFR 325 Capital Maintenance--Recourse Arrangements and Direct Credit Substitutes.     3064-AB31
3844        12 CFR 325 Capital Maintenance--Collateralized Transactions.........................     3064-AB78
3845        12 CFR 307 Notification of Assumption of Deposits and Change of Insured Status......     3064-AB88
3846        12 CFR 328 Advertisement of Membership..............................................     3064-AB99
3847        12 CFR 325 Capital; Leverage and Risk-Based Capital Guidelines; Capital Adequacy         3064-AC34
            Guidelines; Capital Maintenance: Residual Interests in Asset Securitizations or
            Other Transfers of Financial Assets.................................................
3848        12 CFR 325 Capital; Leverage and Risk-Based Capital Guidelines; Capital Adequacy         3064-AC47
            Guidelines; Capital Maintenance; Nonfinancial Equity Investments....................
3849        12 CFR 304 Technical Amendments to FDIC Regulations Relating to Forms, Instructions,     3064-AC52
            and Reports.........................................................................
----------------------------------------------------------------------------------------------------------------

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Federal Deposit Insurance Corporation (FDIC)              Prerule Stage


  



_______________________________________________________________________




3828. ASSESSMENTS--ASSESSMENT BASE

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1441; 12 USC 1817 to 1819

CFR Citation: 12 CFR 327

Legal Deadline: None

Abstract: In 1994, the FDIC sought comment on a proposal to revise the 
assessment base used by insured institutions to determine the premium 
paid for deposit insurance. That initiative did not lead to a proposed 
rule. Instead, the FDIC plans to revisit the issue with a new ANPRM on 
alternative options for the deposit component of the assessment base 
and on options regarding the float deduction and use of average daily 
deposit balances.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           10/05/94                    59 FR 50710
ANPRM Comment Period End        02/02/95
Second ANPRM                    09/00/02

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Steve Wagoner, Senior Assessment Specialist, Division 
of Finance, Federal Deposit Insurance Corporation
Phone: 202 416-7152

RIN: 3064-AB46
_______________________________________________________________________


Federal Deposit Insurance Corporation (FDIC)        Proposed Rule Stage


  



_______________________________________________________________________




3829. CONTRACTOR CONFLICT OF INTEREST (SECTION 610 REVIEW)

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 who 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                            10/00/02

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Donald Rosholt, Senior Ethics Program Specialist, 
Office of the Executive Secretary, Federal Deposit Insurance 
Corporation
Phone: 202 898-7287

RIN: 3064-AC29
_______________________________________________________________________




3830. FAIR CREDIT REPORTING ACT REGULATIONS

Priority: Substantive, Nonsignificant

Legal Authority: 15 USC 1681s; 12 USC 1819(a)(Tenth)

CFR Citation: 12 CFR 334

Legal Deadline: None

[[Page 34150]]

Abstract: Section 506 of the Gramm-Leach-Bliley Act requires bank 
regulators and FTC to publish FCRA regulations to implement the Fair 
Credit Reporting Act. Due to comments received from a joint notice of 
proposed rulemaking, dated October 20, 2000, it is anticipated that the 
agencies will issue a new proposed rulemaking for public comment.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/20/00                    65 FR 63120
NPRM Comment Period End         12/04/00
Second NPRM                     08/00/02

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Deanna Caldwell, Senior Policy Analyst, Division of 
Compliance and Consumer Affairs, Federal Deposit Insurance Corporation
Phone: 202 942-3366

RIN: 3064-AC35
_______________________________________________________________________




3831. PROCEDURES FOR THE COLLECTION OF CORPORATE DEBT BY ADMINISTRATIVE 
OFFSET

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1819(a); 5 USC 5514; 31 USC 3711; 31 USC 3716

CFR Citation: 12 CFR 313

Legal Deadline: None

Abstract: This rulemaking establishes procedures for the collection of 
debts owed the FDIC. The rulemaking also implements the Debt Collection 
Improvement Act of 1996, which requires agencies to promulgate 
regulations on this subject. The regulation sets forth the procedures 
the FDIC would follow in collecting debts through salary offset, 
administrative offset, and tax refund offset.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/02

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Manuel Palau, Counsel, Legal Division, Federal Deposit 
Insurance Corporation
Phone: 202 898-8829

RIN: 3064-AC40
_______________________________________________________________________




3832. BROKERS AND DEALERS

Priority: Substantive, Nonsignificant

Legal Authority: 15 USC 78a

CFR Citation: Not Yet Determined

Legal Deadline: Final, Statutory, May 12, 2001.

Abstract: This rulemaking implements section 204 of the Gramm-Leach-
Bliley Act (GLBA), which requires the Federal banking agencies to 
establish recordkeeping requirements for banks relying on any of the 
broker-dealer exemptions listed in sections 201 and 202 of GLBA.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/00/02

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

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

RIN: 3064-AC42
_______________________________________________________________________




3833. DEPOSIT INSURANCE COVERAGE

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1813(l)

CFR Citation: 12 CFR 330

Legal Deadline: None

Abstract: This rulemaking establishes a uniform and streamlined appeals 
process for deposit insurance claims.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/00/02

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Richard Osterman, Assistant General Counsel, Legal 
Division, Federal Deposit Insurance Corporation
Phone: 202 736-0617

RIN: 3064-AC43
_______________________________________________________________________




3834. SIMPLIFIED CAPITAL FRAMEWORK FOR NONCOMPLEX FINANCIAL INSTITUTIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a)

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This notice, sponsored jointly by the OCC, the FRS, the FDIC 
and OTS, advises the public that the Agencies are considering 
developing a regulatory capital framework tailored to the size, 
structure, complexity, and risk profile of domestic, noncomplex 
financial institutions. The Agencies are seeking comment on possible 
regulatory capital frameworks that may ease the burden on these 
financial institutions, such as a simplified risk-based or a modified 
leverage ratio framework.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           11/03/00                    65 FR 66193
ANPRM Comment Period End        02/01/01
NPRM                            09/00/02

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

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

RIN: 3064-AC44
_______________________________________________________________________




3835. FILING PROCEDURES AND DELEGATIONS OF AUTHORITY

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 378

CFR Citation: 12 CFR 303

Legal Deadline: None

Abstract: This rulemaking eliminates the existing requirement that the 
FDIC's Board act on merger applications involving a combined market 
share above 35 percent; it also reflects certain required Gramm-Leach-
Bliley changes and revisions to enforcement delegations as well as 
technical amendments to part 303.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/00/02

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Rae-Ann Miller, Assistant Director, Division of 
Supervision, Federal Deposit Insurance Corporation
Phone: 202 898-8523

RIN: 3064-AC51

[[Page 34151]]

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Federal Deposit Insurance Corporation (FDIC)           Final Rule Stage


  



_______________________________________________________________________




3836. 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: Final, Statutory, May 12, 2001, recordkeeping 
requirement.

Abstract: This proposal, sponsored jointly by the OCC, the FRS, and the 
FDIC, would establish qualifications for banks that sell certain 
securities to their customers without having to register as a broker 
under the Securities Exchange Act. FDIC staff are contemplating a 
recommendation to rescind this proposal and replace it with a second 
NPRM to exempt banks from registering with the NASD/SEC as securities 
brokers or dealers in the event that they qualify under any of the 
exemption criteria in Gramm-Leach-Bliley Act sections 201 or 202 (see 
NPRM described at 3064-AC42).

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/30/96                    61 FR 68824
NPRM Comment Period End         02/28/97
Final Action                    11/00/02

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
Phone: 202 898-3618

RIN: 3064-AB85
_______________________________________________________________________




3837. PAYMENT OF POST-INSOLVENCY INTEREST IN RECEIVERSHIPS WITH SURPLUS 
FUNDS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1821(d)(1); 12 USC 1821(d)(10)(C); 12 USC 
1821(d)(11); 12 USC 1821(e)(1); 12 USC 1821(e)(8)(D)(i); 12 USC 
1823(c)(4); 12 USC 1823(e)(2); PL 101-73; 103 Stat 357

CFR Citation: 12 CFR 360

Legal Deadline: None

Abstract: This rulemaking establishes uniform rules governing the 
payment and priority of postinsolvency interest in insured depository 
institution receiverships with surplus funds.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/18/01                    66 FR 65144
NPRM Comment Period End         02/19/02
Final Action                    06/00/02

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
Phone: 202 898-3556

RIN: 3064-AB92
_______________________________________________________________________




3838. RISK-BASED CAPITAL STANDARDS: CLAIMS ON SECURITIES FIRMS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a); 12 USC 1828(d); 12 USC 1828(i); 12 USC 
1828(n); 12 USC 1828(o); 12 USC 1831o; 12 USC 1835; 12 USC 1815(b); 12 
USC 1816; 12 USC 1818(a) to 1818(c); 12 USC 1818(t); 12 USC 1819 
(Tenth); 12 USC 1828(c)

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This rulemaking is sponsored jointly by the OCC, the FRS, the 
FDIC and OTS (the Agencies), and amends their respective risk-based 
capital standards for banks, bank holding companies, and savings 
associations with regard to the risk-weighting of claims on, and claims 
guaranteed by, qualifying securities firms. The rule reduces the risk 
weight applied to claims on, and claims guaranteed by, qualifying 
securities firms incorporated in countries that are members of the 
Organization for Economic Cooperation and Development (OECD) from 100 
percent to 20 percent under the Agencies' risk-based capital rules.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/06/00                    65 FR 76180
NPRM Comment Period End         01/22/01
Final Action                    06/00/02

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
Phone: 202 898-8904

RIN: 3064-AC17
_______________________________________________________________________




3839. PROHIBITION AGAINST USE OF INTERSTATE BRANCHES PRIMARILY FOR 
DEPOSIT PRODUCTION

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1819(Tenth); 12 USC 1835a

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                            04/09/01                    66 FR 18411
NPRM Comment Period End         06/08/01
Final Action                    05/00/02

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

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

RIN: 3064-AC36
_______________________________________________________________________




3840. RISK-BASED CAPITAL GUIDELINES: MARKET RISK MEASURE; SECURITIES 
BORROWING TRANSACTIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC 
1818(a) to 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; 105 Stat 1761; 105 Stat 1789; 105 Stat 1790; PL 102-
242; 105 Stat 2236; 105 Stat 2355; 105 Stat 2386

CFR Citation: 12 CFR 325

Legal Deadline: None

[[Page 34152]]

Abstract: This rulemaking sponsored jointly by the OCC, the FRS and the 
FDIC, amends their market risk rules to revise the capital treatment 
for cash collateral that is posted in connection with certain 
securities borrowing transactions. The effect of the rule is to more 
appropriately align the capital requirements for these transactions 
with the risk involved and to provide a capital treatment for U.S. 
banking organizations that is more in line with the capital treatment 
applied to their domestic and foreign competitors.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Interim Final Rule              12/05/00                    65 FR 75856
Interim Final Rule Effective    01/04/01
Interim Final Rule Comment 
Period End                      01/19/01
Final Action                    12/00/02

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
Phone: 202 898-8904

RIN: 3064-AC46
_______________________________________________________________________


Federal Deposit Insurance Corporation (FDIC)          Long-Term Actions


  



_______________________________________________________________________




3841. COMMUNITY REINVESTMENT ACT REGULATIONS (SECTION 610 REVIEW)

Priority: Substantive, Nonsignificant

CFR Citation: 12 CFR 345

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           07/19/01                    66 FR 37602
ANPRM Comment Period End        10/17/01
NPRM                             To Be                       Determined

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

Agency Contact: Deanna Caldwell
Phone: 202 942-3366

RIN: 3064-AC50
_______________________________________________________________________


Federal Deposit Insurance Corporation (FDIC)          Completed Actions


  



_______________________________________________________________________




3842. CENSURE, SUSPENSION, AND DEBARMENT OF INDEPENDENT PUBLIC 
ACCOUNTANTS

Priority: Substantive, Nonsignificant

Legal Authority: PL 102-242, sec 112

CFR Citation: 12 CFR 308

Legal Deadline: None

Abstract: This regulation implements section 36(g)(4) of the Federal 
Deposit Insurance Act (as amended by section 112 of FDICIA) and 
requires the FDIC, the OCC, the FRS, and the OTS, to develop joint 
rules of practice for the suspension, removal, or debarment of 
independent public accountants.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Withdrawn                       03/14/02

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Doris L. Marsh, Examination Specialist, Division of 
Supervision, Federal Deposit Insurance Corporation
Phone: 202 898-8905

RIN: 3064-AA64
_______________________________________________________________________




3843. CAPITAL MAINTENANCE--RECOURSE ARRANGEMENTS AND DIRECT CREDIT 
SUBSTITUTES

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a); 12 USC 1816; 12 USC 1818(a); 12 USC 
1819(Tenth); 12 USC 1828(d); 12 USC 1831o; 12 USC 3907; 12 USC 3909; 12 
USC 1815(b); 12 USC 1818(b); 12 USC 1818(c); 12 USC 1818(t); 12 USC 
1828(i); 12 USC 1828(n); 12 USC 1828(o); 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: The interagency 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. This rulemaking and the rulemaking on residual interests (see 
3064-AC34) are interrelated in that both address the regulatory capital 
treatment for residual interests in securitizations and other financial 
asset transfers. The agencies participating in these two rulemakings 
are ensuring that the treatment of residual interests will be 
consistent and may issue a single combined final rule rather than 
separate final rules.

[[Page 34153]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    11/29/01                    66 FR 59614
Final Action Effective          01/01/02
Credit Ratings  ANPRM 05/25/94 (59 FR 27116)  Final Action 11/29/01 (66 
FR 59614)  Final Action Effective 01/01/02

Recourse/Direct Credit Substitutes  NPRM 05/25/94 (59 FR 27116)  Second 
NPRM 03/08/00 (65 FR 12320)  Second NPRM Comment Period End 06/07/
00  Final Action 11/29/01 (66 FR 59614)  Final Action Effective 01/01/
02

Synthesis of Credit Ratings/Recourse/Direct Credit Substitutes  NPRM 
11/05/97 (62 FR 59944)  Final Action 11/29/01 (66 FR 59614)  Final 
Action Effective 01/01/02

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
Phone: 202 898-8906

RIN: 3064-AB31
_______________________________________________________________________




3844. CAPITAL MAINTENANCE--COLLATERALIZED TRANSACTIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815; PL 102-233; PL 102-242; 12 USC 1816; 12 
USC 1818; 12 USC 1819; 12 USC 1828; 12 USC 1831; 12 USC 3907; 12 USC 
3909; 12 USC 4808

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
Withdrawn                       03/14/02

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
Phone: 202 898-8904

RIN: 3064-AB78
_______________________________________________________________________




3845. 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
Withdrawn                       03/14/02

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: None

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

RIN: 3064-AB88
_______________________________________________________________________




3846. 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 6142
NPRM Comment Period End         04/14/97
Withdrawn                       03/14/02

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
Phone: 202 898-8807

RIN: 3064-AB99
_______________________________________________________________________




3847. CAPITAL; LEVERAGE AND RISK-BASED CAPITAL GUIDELINES; CAPITAL 
ADEQUACY GUIDELINES; CAPITAL MAINTENANCE: RESIDUAL INTERESTS IN ASSET 
SECURITIZATIONS OR OTHER TRANSFERS OF FINANCIAL ASSETS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC 
1818(a) to 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; 12 USC 3907; 12 USC 3909; 12 USC 4808; PL 102-233; 
105 Stat 1761; 105 Stat 1789

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This interagency rulemaking amends capital rules to restrict 
excessive concentrations in residual interests by limiting the amounts 
that are included in Tier 1 capital for both leverage and risk-based 
capital purposes. Residual interests in excess of this limitation would 
be deducted from Tier 1 capital. The rulemaking also requires that 
risk-based capital be held in an amount equal to the amount of residual 
interests that are within this limitation. This rulemaking and the 
rulemaking on recourse and direct credit substitutes (see 3064-AB31) 
are interrelated in that both address the

[[Page 34154]]

regulatory capital treatment for residual interests in securitizations 
and other financial asset transfers. The agencies participating in 
these two rulemakings are ensuring that the treatment of residual 
interests will be consistent and may issue a single combined final rule 
rather than separate final rules.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/27/00                    65 FR 57993
NPRM Comment Period End         12/26/00
Final Action                    11/29/01                    66 FR 59614
Final Action Effective          01/01/02

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

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

RIN: 3064-AC34
_______________________________________________________________________




3848. CAPITAL; LEVERAGE AND RISK-BASED CAPITAL GUIDELINES; CAPITAL 
ADEQUACY GUIDELINES; CAPITAL MAINTENANCE; NONFINANCIAL EQUITY 
INVESTMENTS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1815(a); 12 USC 1815(b); 12 USC 1816; 12 USC 
1818(a) to 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; 12 USC 3907; 12 USC 3909; 12 USC 4808; PL 102-233; 
105 Stat 1761; 105 Stat 1789; PL 102-242; 105 Stat 2236

CFR Citation: 12 CFR 325

Legal Deadline: None

Abstract: This rulemaking, sponsored jointly by the OCC, the FRS and 
the FDIC, amends respective risk-based and leverage capital standards 
for banks and bank holding companies with respect to the capital 
treatment of nonfinancial equity investments. The rule would deduct 
from Tier 1 capital certain percentages of the adjusted carrying value 
of all nonfinancial equity investments.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/14/01                    66 FR 10212
NPRM Comment Period End         04/16/01
Final Action                    01/25/02                     67 FR 3784
Final Action Effective          04/01/02

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
Phone: 202 898-8904

RIN: 3064-AC47
_______________________________________________________________________




3849.  TECHNICAL AMENDMENTS TO FDIC REGULATIONS RELATING TO FORMS, 
INSTRUCTIONS, AND REPORTS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1817

CFR Citation: 12 CFR 304

Legal Deadline: None

Abstract: This rulemaking revises the FDIC regulation on forms, 
instructions and reports. The rulemaking also eliminates obsolete and 
incorrect references.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    04/17/02                    67 FR 18793

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Philip Houle, Counsel, Legal Division, Federal Deposit 
Insurance Corporation
Phone: 202 898-3722

RIN: 3064-AC52
[FR Doc. 02-7695 Filed 05-10-02; 8:45 am]
BILLING CODE 6714-01-S
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