[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 LIII Federal Deposit Insurance Corporation ----------------------------------------------------------------------- Semiannual Regulatory Agenda [[Page 31362]]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 2003 Unified Agenda of Federal 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, 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 ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 3988 12 CFR 327 Assessments--Assessment Base............................................. 3064-AB46 ---------------------------------------------------------------------------------------------------------------- Federal Deposit Insurance Corporation--Proposed Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 3989 12 CFR 334 Fair Credit Reporting Act Regulations.................................... 3064-AC35 3990 12 CFR 342 Brokers and Dealers...................................................... 3064-AC42 3991 12 CFR 330 Deposit Insurance Coverage............................................... 3064-AC43 3992 12 CFR 325 Simplified Capital Framework for Noncomplex Financial Institutions....... 3064-AC44 3993 12 CFR 330 Deposit Insurance Regulations; Living Trust Accounts..................... 3064-AC54 ---------------------------------------------------------------------------------------------------------------- Federal Deposit Insurance Corporation--Final Rule Stage ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 3994 12 CFR 342 Qualification Requirements for the Recommendation or Sale of Certain 3064-AB85 Securities.......................................................................... 3995 12 CFR 325 Risk-Based Capital Guidelines--Market Risk Measure; Securities Borrowing 3064-AC46 Transactions........................................................................ 3996 12 CFR 303 Filing Procedures; Corporate Powers; International Banking; Management 3064-AC55 Official Interlocks................................................................. 3997 12 CFR 308 Removal, Suspension, and Debarment of Accountants From Performing Audit 3064-AC57 Services............................................................................ ---------------------------------------------------------------------------------------------------------------- Federal Deposit Insurance Corporation--Long-Term Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 3998 12 CFR 345 Community Reinvestment Act Regulations (Section 610 Review).............. 3064-AC50 ---------------------------------------------------------------------------------------------------------------- [[Page 31363]] Federal Deposit Insurance Corporation--Completed Actions ---------------------------------------------------------------------------------------------------------------- Regulation Sequence Title Identification Number Number ---------------------------------------------------------------------------------------------------------------- 3999 12 CFR 366 Minimum Standards of Integrity and Fitness for an FDIC Contractor 3064-AC29 (Completion of a Section 610 Review)................................................ 4000 12 CFR 303 Filing Procedures and Delegations of Authority........................... 3064-AC51 4001 12 CFR 303 Insurance of State Banks Chartered as Limited Liability Companies........ 3064-AC53 4002 12 CFR 308 Agency Reorganization; Nomenclature Changes.............................. 3064-AC56 ---------------------------------------------------------------------------------------------------------------- _______________________________________________________________________ Federal Deposit Insurance Corporation (FDIC) Prerule Stage _______________________________________________________________________ 3988. 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 advance notice of proposed rulemaking 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 08/00/03 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Munsell St. Clair, Senior Policy Analyst, Division of Insurance and Research, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 898-8967 RIN: 3064-AB46 _______________________________________________________________________ Federal Deposit Insurance Corporation (FDIC) Proposed Rule Stage _______________________________________________________________________ 3989. 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 Abstract: Section 506 of the Gramm-Leach-Bliley Act (Act) authorizes the Federal banking agencies to publish Fair Credit Reporting Act regulations to carry out the purposes of the 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 06/00/03 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Robert A. Patrick, Counsel, Legal Division, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 898-3757 RIN: 3064-AC35 _______________________________________________________________________ 3990. BROKERS AND DEALERS Priority: Substantive, Nonsignificant Legal Authority: 15 USC 78a CFR Citation: 12 CFR 342 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 10/00/03 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Michael Phillips, Counsel, Legal Division, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 898-3581 Related RIN: Related To 3064-AB85 RIN: 3064-AC42 _______________________________________________________________________ 3991. DEPOSIT INSURANCE COVERAGE Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1813(l) CFR Citation: 12 CFR 330 Legal Deadline: None [[Page 31364]] Abstract: This rulemaking establishes a uniform and streamlined appeals process for deposit insurance claims. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 10/00/03 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Catherine Ribnick, Counsel, Legal Division, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 736-0117 RIN: 3064-AC43 _______________________________________________________________________ 3992. 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 11/00/03 Regulatory Flexibility Analysis Required: Undetermined Government Levels Affected: None Agency Contact: Michael Phillips, Counsel, Legal Division, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 898-3581 RIN: 3064-AC44 _______________________________________________________________________ 3993. DEPOSIT INSURANCE REGULATIONS; LIVING TRUST ACCOUNTS Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1813(l); 12 USC 1813(m); 12 USC 1817(i); 12 USC 1818(q); 12 USC 1819 (Tenth); 12 USC 1820(f); 12 USC 1821(a) CFR Citation: 12 CFR 330 Legal Deadline: None Abstract: This rulemaking simplifies the regulations on the insurance coverage of living trust accounts. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 05/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Joseph A. DiNuzzo, Counsel, Legal Division, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 898-7349 RIN: 3064-AC54 _______________________________________________________________________ Federal Deposit Insurance Corporation (FDIC) Final Rule Stage _______________________________________________________________________ 3994. 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 notice of proposed rulemaking (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 the Gramm-Leach- Bliley Act, sections 201 or 202. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/30/96 61 FR 68824 NPRM Comment Period End 02/28/97 Final Action 10/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Michael Phillips, Counsel, Legal Division, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 898-3581 Related RIN: Related To 3064-AC42 RIN: 3064-AB85 _______________________________________________________________________ 3995. 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 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 [[Page 31365]] 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 05/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Robert F. Storch, Chief, Accounting Section, Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 898-8906 RIN: 3064-AC46 _______________________________________________________________________ 3996. FILING PROCEDURES; CORPORATE POWERS; INTERNATIONAL BANKING; MANAGEMENT OFFICIAL INTERLOCKS 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 1828m; 12 USC 1831p-1(c); 12 USC 1823(k); 12 USC 1828(k); 12 USC 3207 CFR Citation: 12 CFR 303; 12 CFR 333; 12 CFR 347; 12 CFR 348; 12 CFR 359 Legal Deadline: None Abstract: This rulemaking amends regulations governing filing procedures, international banking and management official interlocks by making technical corrections and modifications to clarify existing policies and procedures. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 12/27/02 67 FR 79271 NPRM Comment Period End 02/25/03 Final Action 05/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Mindy West Schwartzstein, Examination Specialist, Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 898-7221 Related RIN: Related To 3064-AC51 RIN: 3064-AC55 _______________________________________________________________________ 3997. [bull] REMOVAL, SUSPENSION, AND DEBARMENT OF ACCOUNTANTS FROM PERFORMING AUDIT SERVICES Priority: Substantive, Nonsignificant Legal Authority: 5 USC 504; 5 USC 554 to 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 1831m(g)(4); 12 USC 1831o; 12 USC 1831p-1; 12 USC 1832(c); 12 USC 1884(b); 15 USC 78(h); 15 USC 78(i); 31 USC 330; 31 USC 5321; 42 USC 4012a; PL 104-134 CFR Citation: 12 CFR 308 Legal Deadline: None Abstract: This rulemaking, sponsored jointly by the OCC, the FRS, OTS, and the FDIC, revises the agencies' rules to establish rules of practice and procedure for the removal, suspension, and debarment of accountants and their firms from performing section 36 of the Federal Deposit Insurance Act audit services for insured depository institutions. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 01/08/03 68 FR 1115 NPRM Comment Period End 03/10/03 Final Action 06/00/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Richard Bogue, Counsel, Enforcement Unit, Legal Division, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 898-3726 RIN: 3064-AC57 _______________________________________________________________________ Federal Deposit Insurance Corporation (FDIC) Long-Term Actions _______________________________________________________________________ 3998. 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: Tim Burniston Phone: 202 898-6670 RIN: 3064-AC50 [[Page 31366]] _______________________________________________________________________ Federal Deposit Insurance Corporation (FDIC) Completed Actions _______________________________________________________________________ 3999. MINIMUM STANDARDS OF INTEGRITY AND FITNESS FOR AN FDIC CONTRACTOR (COMPLETION OF A SECTION 610 REVIEW) Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1819 (Tenth); 12 USC 1822(f)(3); 12 USC 1822(f)(4); 107 Stat 2369 CFR Citation: 12 CFR 366 Legal Deadline: None Abstract: This rulemaking replaces the Contractor Conflicts of Interest rule and establishes standards for independent contractors governing contracting prohibitions, conflicts of interest, ethical responsibilities, confidential information, and reportable information. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Interim Final Rule 05/15/02 67 FR 34591 Interim Final Rule Effective 05/15/02 Interim Final Rule Comment Period End 07/15/02 Final Action 11/20/02 67 FR 69990 Final Action Effective 12/20/02 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Martin Blumenthal, Counsel, Legal Division, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 736-0359 RIN: 3064-AC29 _______________________________________________________________________ 4000. 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 revises part 303 to reflect the corporate reorganization, removes all delegations of authorities regarding filings and enforcement actions, and makes technical amendments. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 12/27/02 67 FR 79246 Final Action Effective 12/27/02 Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Mindy West Schwartzstein, Examination Specialist, Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 898-7221 RIN: 3064-AC51 _______________________________________________________________________ 4001. INSURANCE OF STATE BANKS CHARTERED AS LIMITED LIABILITY COMPANIES 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 1819 (Seventh and Tenth); 12 USC 1820; 12 USC 1823; 12 USC 1828; 12 USC 1831e; 12 USC 1831o; 12 USC 1831p-1; 12 USC 1831w; 12 USC 1835a; 12 USC 1843(l); 12 USC 3104; 12 USC 3105; 12 USC 3108; 12 USC 3207; 15 USC 1601 to 1607 CFR Citation: 12 CFR 303 Legal Deadline: None Abstract: This rulemaking clarifies that a State bank that is chartered as a limited liability company would be considered to be incorporated for the purposes of being eligible for Federal deposit insurance under certain circumstances. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ NPRM 07/23/02 67 FR 48054 NPRM Comment Period End 10/21/02 Final Action 02/13/03 68 FR 7301 Final Action Effective 03/17/03 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Mindy West Schwartzstein, Examination Specialist, Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 898-7221 RIN: 3064-AC53 _______________________________________________________________________ 4002. [bull] AGENCY REORGANIZATION; NOMENCLATURE CHANGES Priority: Substantive, Nonsignificant Legal Authority: 5 USC 7301; 12 USC 1819(a); 12 USC 1822; 26 USC 1043; 5 USC 504; 12 USC 93(b); 12 USC 375a(4); 12 USC 1818(a); 12 USC 1818(b) CFR Citation: 12 CFR 308; 12 CFR 309; 12 CFR 310; 12 CFR 311; 12 CFR 337 Legal Deadline: None Abstract: This rulemaking addresses nomenclature changes affected by an internal reorganization order dated June 30, 2002. The rule also makes appropriate conforming changes in several of the FDIC's regulations in title 12 and, with the concurrence of the Office of Government Ethics, in the FDIC's supplemental standards of ethical conduct regulation in title 5. Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 11/29/02 67 FR 71069 Final Action Effective 11/29/02 Regulatory Flexibility Analysis Required: No Small Entities Affected: No Government Levels Affected: None Agency Contact: Frederick L. Fisch, Senior Attorney, FOIA/PA Group, Legal Division, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 736-0526 RIN: 3064-AC56 [FR Doc. 03-7439 Filed 05-23-03; 8:45 am] BILLING CODE 6714-01-S