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FR
Regulatory Information
2019_register
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2019-12-06
article
Federal Interest Rate Authority
Proposed Rules
D09002ee1c1212e6a
D09002ee1c1212ec9
United States
Federal Deposit Insurance Corporation
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United States Government Agency or Subagency
The Federal Deposit Insurance Corporation (FDIC) is seeking comment on proposed regulations clarifying the law that governs the interest rates State-chartered banks and insured branches of foreign banks (collectively, State banks) may charge. The proposed regulations would provide that State banks are authorized to charge interest at the rate permitted by the State in which the State bank is located, or one percent in excess of the ninety-day commercial paper rate, whichever is greater. The proposed regulations also would provide that whether interest on a loan is permissible under section 27 of the Federal Deposit Insurance Act would be determined at the time the loan is made, and interest on a loan permissible under section 27 would not be affected by subsequent events, such as a change in State law, a change in the relevant commercial paper rate, or the sale, assignment, or other transfer of the loan.
84 FR 66845
https://www.govinfo.gov/app/details/FR-2019-12-06/2019-25689
2019-25689
fr06de19-8
RIN 3064-AF21
6714-01-P
https://www.govinfo.gov/app/details/FR-2019-12-06/2019-25689
https://www.govinfo.gov/content/pkg/FR-2019-12-06/html/2019-25689.htm
https://www.govinfo.gov/content/pkg/FR-2019-12-06/pdf/2019-25689.pdf
Banks
Banking
Deposits
Foreign Banking
Interest Rates
9 p.
66845
66853
84 FR 66845
Code of Federal Regulations
Title 12 Part 331
12 CFR Part 331
Regulation Identification Number 3064-AF21
RIN 3064-AF21
Federal Interest Rate Authority; Federal Register Vol. 84, Issue
PRORULE
2019-25689
FEDERAL DEPOSIT INSURANCE CORPORATION
2020-02-04
6714-01-P
2019-25689
Notice of proposed rulemaking.
The Federal Deposit Insurance Corporation (FDIC) is seeking comment on proposed regulations clarifying the law that governs the interest rates State-chartered banks and insured branches of foreign banks (collectively, State banks) may charge. The proposed regulations would provide that State banks are authorized to charge interest at the rate permitted by the State in which the State bank is located, or one percent in excess of the ninety-day commercial paper rate, whichever is greater. The proposed regulations also would provide that whether interest on a loan is permissible under section 27 of the Federal Deposit Insurance Act would be determined at the time the loan is made, and interest on a loan permissible under section 27 would not be affected by subsequent events, such as a change in State law, a change in the relevant commercial paper rate, or the sale, assignment, or other transfer of the loan.
Comments will be accepted until February 4, 2020.
James Watts, Counsel, Legal Division, (202) 898-6678, jwatts@fdic.gov; Catherine Topping, Counsel, Legal Division, (202) 898-3975, ctopping@fdic.gov; or Romulus Johnson, Counsel, Legal Division, (202) 898-3820, romjohnson@fdic.gov.
Banks
Banking
Deposits
Foreign Banking
Interest Rates
Federal Interest Rate Authority
,
comments@fdic.gov
ctopping@fdic.gov
jwatts@fdic.gov
romjohnson@fdic.gov
http://dx.doi.org/10.2139/ssrn.3208908
http://ssrn.com/abstract=3209808
https://home.treasury.gov/sites/default/files/2018-07/A-Financial-System-that-Creates-Economic-Opportunities---Nonbank-Financi....pdf
https://www.fdic.gov/regulations/laws/federal
Federal Register
Vol. 84, no. 235
Office of the Federal Register, National Archives and Records Administration
2019-12-06
continuing
daily
deposited
born digital
364 p.
Table of Contents:
AE 2.7:
GS 4.107:
AE 2.106:
KF70.A2
https://www.govinfo.gov/app/details/FR-2019-12-06
P0b002ee1a3ef4f1b
0097-6326
0042-1219
0364-1406
769-004-00000-9
000582072
f:fr06de19
https://www.govinfo.gov/app/details/FR-2019-12-06
https://www.govinfo.gov/content/pkg/FR-2019-12-06/pdf/FR-2019-12-06.pdf
https://www.govinfo.gov/content/pkg/FR-2019-12-06/xml/FR-2019-12-06.xml
fdlp
66813
67167
DGPO
2019-12-06
2023-09-29
FR-2019-12-06
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eng
FR
FR-2019-12-06
84
235