[Federal Register Volume 60, Number 248 (Wednesday, December 27, 1995)]
[Rules and Regulations]
[Pages 66866-66870]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-31121]
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DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
12 CFR Parts 500, 504, 510, 515, 529, 533, 543, 545, 552, 556, 562,
563, 563d, 563g, 571, 583, and 584
[No. 95-201]
RIN 1550-AA85
Regulatory Review
AGENCY: Office of Thrift Supervision, Treasury.
ACTION: Final rule.
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SUMMARY: The Office of Thrift Supervision (OTS or Office) is today
issuing a final rule eliminating duplicative, unduly burdensome, and
unnecessary regulations. These amendments result from a review of OTS
regulations pursuant to section 303(a) of the Community Development and
Regulatory Improvement Act of 1994 (CDRIA) and the Regulatory
Reinvention Initiative of the Vice President's National Performance
Review.
EFFECTIVE DATE: December 27, 1995.
FOR FURTHER INFORMATION CONTACT: Francis E. Raue, Policy Analyst,
Supervision Policy, (202) 906-5750; or Valerie J. Lithotomos, Counsel
(Banking and Finance), Regulations and Legislation Division, Chief
Counsel's Office, (202) 906-6439, Office of Thrift Supervision, 1700 G
Street NW., Washington, D.C. 20552.
SUPPLEMENTARY INFORMATION:
I. Background
The OTS conducted a comprehensive review of its regulations in the
spring of 1995 pursuant to section 303 of CDRIA and the
Administration's Reinvention Initiative. Staff in both the Washington
and Regional Offices reviewed the regulations and policy statements
contained in Chapter V of Title 12 of the Code of Federal Regulations
(CFR) to: ``streamline and modify those regulations and policies in
order to improve efficiency, reduce unnecessary costs, * * * eliminate
unwarranted constraints on credit availability [and] remove
inconsistencies and outmoded and duplicative requirements.'' 1 The
OTS sought industry input through town meetings and industry roundtable
meetings held by the Acting Director and Regional Directors.
\1\ Section 303 of CDRIA, 12 U.S.C. 4803(a)(1)(A), (B).
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As a result of this effort, the OTS identified a number of ways in
which its regulations could be improved and, on August 28, 1995, issued
a notice of proposed rulemaking.2 The preamble to the proposed
rulemaking described a multi-step process that the agency intends to
follow to implement the results of its regulatory review.
\2\ See 60 FR 44442 (August 28, 1995).
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The first step in that process is to eliminate regulations that are
clearly outdated, duplicative, or otherwise unnecessary. Today's final
rule draws this first step to a close.
The second step is to conduct focused, intensive reviews of key
areas of OTS's regulations in an effort to find additional ways to
streamline and reduce burden. This effort is already underway. Over the
next several months, OTS expects to issue proposals that will reduce
the burden imposed by its regulations governing lending, subsidiaries,
corporate governance, and preemption.
A third step in the review process is to determine whether the
OTS's regulations should be reorganized to make them more user-
friendly. In the August 28 preamble, the agency posed five questions
regarding the overall structure and content of its regulations.3
The OTS appreciates the comments received in response to these
questions and will take them into consideration in future rulemakings
that specifically address the organizational issues raised by the
comments.
\3\ The specific questions in the preamble were:
1. Should OTS consolidate common definitions of general
applicability now in parts 541, 561, 563, and 583 in a new part 501?
2. Should OTS consolidate the remaining safety and soundness
regulations in part 545 into part 563?
3. Should OTS delete regulations that only repeat statutory
authority or list an implied power?
4. Should policy statements in parts 556 and 571 be deleted and
either recast as regulations or placed as guidance in the
appropriate regulatory handbook?
5. What is the best method of communicating different types of
information, guidance, policies, restrictions, and requirements?
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II. Summary of Comments
The August 28, 1995, notice of proposed rulemaking targeted
approximately eight percent of OTS's regulations for immediate repeal.
The public comment period on the August 28 proposal closed on October
27, 1995. Two federal savings banks, one savings and loan holding
company, and one national trade association submitted comments. In
addition to its comment letter, the national trade association,
America's Community Bankers (ACB), included the results of a survey
which ACB sent to a number of OTS-supervised institutions.4
\4\ ACB is a trade association representing 2,000 savings
associations and community financial institutions and related
business firms. ACB's survey was sent to 94 OTS-supervised
institutions; 43 institutions completed the survey. As reported by
ACB, 86 percent of the respondents deem simplification of OTS rules
to be worth the time and attention of the OTS and the industry.
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Generally all of the commenters supported the OTS initiative to
streamline and eliminate unnecessary and burdensome rules in the
proposal. They indicated that the deletions and modifications, with a
few exceptions, would be helpful.
However, one commenter recommended that paragraphs (a) and (c) of
Sec. 545.15 not be deleted. Paragraph (a) provides generally that a
Federal savings association shall require at least seven days advance
notice of withdrawals from savings accounts that do not have fixed or
minimum terms of at least seven days. The commenter asked that this
paragraph be retained because it believes that the elimination of the
seven-day withdrawal notice on savings accounts may conflict with
[[Page 66867]]
section 5(b)(1)(C) of the Home Owners' Loan Act (HOLA).5 We
disagree. Section 5(b)(1)(C) of the HOLA provides that a ``Federal
savings association may require not less than 14 days notice * * * if
the charter of the savings association or the regulations of the
Director so provide.'' By its terms, this statutory provision applies
only to withdrawal notice requirements that equal or exceed 14 days.
The provision does not affect the ability of savings associations to
impose notice requirements of shorter duration.
\5\ 12 U.S.C. 1464(b)(1)(C).
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Moreover, the seven-day notice requirement that currently appears
in OTS's regulations is unrelated to, and does not implement, section
5(b)(1)(C) of the HOLA. Section 545.15(a) was meant to mirror the
requirements under the Federal Reserve Board's Regulation D for savings
accounts.6 Regulation D defines a savings deposit for reserve
purposes as a deposit or account where a depository institution may
require at least seven days advance notice of withdrawal.7 The OTS
is removing section 545.15(a) because it is duplicative of Regulation
D. Savings associations will, of course, still be required to comply
with Regulation D.
\6\ See 12 CFR Part 204.
\7\ 12 CFR 204.2(d)(1).
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Because section 545.15(a) does not implement HOLA section
5(b)(1)(C), its removal will not adversely affect the ability of
savings associations to impose notice requirements of 14 days or more.
Associations that wish to do so may continue, as under current law, to
include an authorizing provision in their charters and appropriate
terms in their savings account contracts.
The same commenter requested that OTS retain paragraph (c) of
section 545.15. That paragraph states that, when computing earnings due
on deposit accounts at the end of a business period, a Federal savings
association may elect to disregard amounts withdrawn from accounts in
the last three days of any business period--thereby effectively paying
depositors slightly more interest than they might be entitled to under
the terms of their deposit contracts. The commenter stated that the
three-day grace period should be retained because it may have
operational significance for small institutions without adequate
technology to make computations on all of their accounts on one day at
the end of the period. Removal of paragraph (c) will not adversely
affect the flexibility of savings associations in computing interest on
their deposit accounts. Institutions that wish to compute interest
without reference to withdrawals made during the last three days of a
business period may continue to do so. A regulation is not needed to
authorize this practice.
The same commenter asked that section 556.15 be retained because it
delineates the specific services that may and may not be performed at
drive-in and pedestrian facilities. Under Sec. 545.92(g), Federal
savings associations are authorized to establish such facilities
without prior OTS approval, subject to certain restrictions. The
services provided at such facilities are limited to those ``ordinary
functions'' provided at teller windows at branch offices. Section
556.15 defines what constitutes services ``ordinarily'' provided at
teller windows. This definition is outdated and unduly restrictive.
Elimination of Sec. 556.15 will allow more flexibility in defining the
scope of services that can be offered from drive-in and pedestrian
facilities.
One commenter stated that it would prefer that Sec. 545.31(a)
(Election regarding classification of loans or investments) not be
removed unless it would be included in its entirety in the regulatory
handbook. The OTS notes that the proposal did not suggest the deletion
of that section and that it is not anticipated that OTS's regulatory
review of its lending regulations will propose deleting that section.
One commenter requested that the OTS review the documentation and
recordkeeping requirements in Secs. 563.41 (Loans and other
transactions with affiliates and subsidiaries) and 563.42 (Additional
standards applicable to transactions with affiliates and subsidiaries)
because they are too cumbersome. The commenter also requested that
certain clarifications be made to these regulations. On the same
subject, another commenter requested that the term ``affiliated
person'' in the OTS's regulations be replaced by the term ``insider''
as defined in the regulations of the other Federal banking agencies.
The OTS will address these comments in a subsequent notice of proposed
rulemaking, during the phase of regulatory review dealing with OTS's
regulations on subsidiaries and related entities.
Finally, one commenter suggested that the OTS consider reviewing
its manufactured home financing regulation at section 545.45 so that
savings associations may more fairly compete with other lenders in the
market. The OTS will address this comment in the phase of regulatory
review addressing the OTS's lending regulations.
III. Description of Final Rule
The final rule issued today implements all of the proposed
revisions and modifications contained in the August 28, 1995 proposal,
except for the proposed revision to Sec. 567.1's definition of an OECD-
based country, which will be addressed in a later final rule.
The following parts and sections are being removed:
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Part or section No. Title
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Part 504............................. National security information.
Sec. 510.1.......................... Ex parte communications.
Sec. 510.3.......................... Coordination of subchapters.
Part 515............................. Use of penalty mail in the
location and recovery of missing
children.
Part 529............................. Nondiscrimination in federally
assisted programs.
Part 533............................. Electronic funds transfers.
Sec. 543.12......................... Bank Insurance Fund-insured
Federal savings banks.
Sec. 543.13......................... Notice to FDIC.
Sec. 545.15......................... Withdrawal requests.
Sec. 545.18......................... Issuance of mutual capital
certificates.
Sec. 545.19......................... Issuance of net worth
certificates.
Sec. 545.20......................... Borrowing, issuing obligations
and giving security.
Sec. 545.44......................... Mortgage transactions with the
Federal Home Loan Mortgage
Corporation.
Sec. 545.122........................ Employment contracts.
Sec. 545.136........................ Financial futures transactions.
Sec. 545.137........................ Financial options transactions.
Sec. 552.2-4........................ Limitation on transaction of
business.
Sec. 556.4.......................... Insurance.
Sec. 556.6.......................... Savings accounts.
Sec. 556.8.......................... Suretyship.
Sec. 556.9.......................... Imposition of late charges and
due on sale clauses.
Sec. 556.11......................... Prepayment penalty on mortgage
loans.
Sec. 556.14......................... Chief executive officer of a
branch office.
Sec. 556.15......................... Drive-in and pedestrian
facilities.
Sec. 562.3.......................... Statements of Condition.
Sec. 563.8.......................... Negotiable order of withdrawal
accounts authorized.
Sec. 563.49......................... Membership in a Federal Home Loan
Bank.
Sec. 563.72......................... Form, return, and maturity of
securities.
Sec. 563d.200-30.................... Delegation of authority to the
Chief Counsel.
Sec. 563g.22........................ Delegation of authority to the
Chief Counsel.
Sec. 584.3.......................... Transactions with affiliates.
Sec. 584.6.......................... Penalty for loss of QTL status.
Sec. 584.11......................... Hearings.
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[[Page 66868]]
The OTS is also amending the following parts or sections to remove
unnecessary burdens, as proposed.
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Part or section No. Description of amendment
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Part 500............................. Simplification of organizational
structure.\1\
Sec. 563.41(b)(11).................. Addition of definition of
``unimpaired capital and
unimpaired surplus'' for
purposes of transactions with
affiliates limitations.
Sec. 563.41(d)(1)................... Removal of expired limitation on
sister bank provision for
transactions with affiliates.
Sec. 563.42(d)(1)................... Removal of expired limitation on
sister bank provision for
transactions with affiliates.
Sec. 563.43(f)...................... Addition of definition of
``unimpaired capital and
unimpaired surplus'' for
purposes of loans to insiders
limitations.
Sec. 563g.5......................... Reduction in the number of copies
required for securities filings.
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\1\ OTS's current organizational structure will be reflected in a notice
to be published in the Federal Register at a later date.
The preamble to the August 28 proposal contains a full section-by-
section discussion of the reasons why these sections are being amended
or removed. Today's final rule also adopts the proposed modifications
to cross-references in other OTS regulations to conform to the changes
being made today.
IV. Administrative Procedure Act
Section 553(d)\8\ of the APA permits the waiver of its 30-day
delayed effective date requirement for good cause, or where a rule
relieves a restriction. Also, Section 302 of the CDRIA\9\ requires that
a federal banking agency regulation that imposes new requirements take
effect on the first day of the quarter following publication of the
final rule. That section provides, however, that an agency may
determine that the rule should take effect earlier upon a finding of
good cause.
\8\ 5 U.S.C. 553(d).
\9\ 12 U.S.C. 4802.
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The OTS believes that the final rule will relieve regulatory burden
by eliminating obsolete, redundant and unnecessary requirements. The
final rule eliminates inefficient and unduly costly regulatory
requirements and better focuses thrifts on the substantive and relevant
requirements. For these reasons, the OTS believes there is good cause
pursuant to both the APA and CDRIA section 302 provisions to make the
final rule effective immediately upon publication in the Federal
Register.
V. Executive Order 12866
The Director of the OTS has determined that this final rule does
not constitute a ``significant regulatory action'' for the purposes of
Executive Order 12866.
VI. Regulatory Flexibility Act Analysis
Pursuant to section 605(b) of the Regulatory Flexibility Act, the
OTS certifies that this final rule will not have a significant economic
impact on a substantial number of small entities. The final rule does
not impose any additional burdens or requirements upon small entities
and lowers several paperwork and other burdens on all savings
associations.
VII. Unfunded Mandates Reform Act of 1995
The OTS has determined that the requirements of this final rule
will not result in expenditures by State, local, and tribal
governments, or by the private sector, of more than $100 million in any
one year. Accordingly, a budgetary impact statement is not required
under section 202 of the Unfunded Mandates Reform Act of 1995.
List of Subjects
12 CFR Part 500
Organization and functions (Government agencies).
12 CFR Part 504
Classified information.
12 CFR Part 510
Administrative practice and procedure.
12 CFR Part 515
Infants and children, Postal service.
12 CFR Part 529
Administrative practice and procedure, Civil rights.
12 CFR Part 533
Consumer protection, Electronic funds transfers, Savings
associations.
12 CFR Part 543
Reporting and recordkeeping requirements, Savings associations.
12 CFR Part 545
Accounting, Consumer protection, Credit, Electronic funds
transfers, Investments, Manufactured homes, Mortgages, Reporting and
recordkeeping requirements, Savings associations.
12 CFR Part 552
Reporting and recordkeeping requirements, Savings associations,
Securities.
12 CFR Part 556
Savings associations.
12 CFR Part 562
Accounting, Reporting and recordkeeping requirements, Savings
associations.
12 CFR Part 563
Accounting, Advertising, Crime, Currency, Flood insurance,
Investments, Mortgages, Reporting and recordkeeping requirements,
Savings associations, Securities, Surety bonds.
12 CFR Part 563d
Authority delegations (Government agencies), Reporting and
recordkeeping requirements, Savings associations, Securities.
12 CFR Parts 563g
Reporting and recordkeeping requirements, Savings associations,
Securities.
12 CFR Part 571
Accounting, Conflicts of interest, Investments, Reporting and
recordkeeping requirements, Savings associations.
12 CFR Part 583
Holding companies, Savings associations.
12 CFR Part 584
Administrative practice and procedure, Holding companies, Reporting
and recordkeeping requirements, Savings associations, Securities.
Accordingly, and under the authority of 12 U.S.C. 1462a, the Office
of Thrift Supervision amends chapter V, title 12, Code of Federal
Regulations, as set forth below.
PART 500--ORGANIZATION AND CHANNELLING OF FUNCTIONS
1. The authority citation for part 500 continues to read as
follows:
Authority: 12 U.S.C. 1462a, 1463, 1464.
Sec. 500.1 [Amended]
Secs. 500.3--500.5 [Removed]
2. The existing text of Sec. 500.1 is designated as paragraph (a),
the existing texts of Secs. 500.3, 500.4, and 500.5 are redesignated as
paragraphs (b), (c) and (d), respectively, of Sec. 500.1, and
Secs. 500.3, 500.4, and 500.5 are removed.
[[Page 66869]]
3. Section 500.10 is amended by adding two new sentences at the end
of the section to read as follows:
Sec. 500.10 The OTS or The Office.
* * * The Director directs and carries out the mission of the OTS
with the assistance of offices reporting directly to him. One of these
offices oversees the direct examination and supervision of savings
associations by regulatory staff to ensure the safety and soundness of
the industry.
Secs. 500.11-500.17 [Removed]
4. Sections 500.11 through 500.17 are removed.
PART 504--[REMOVED]
5. Part 504 is removed.
PART 510--MISCELLANEOUS ORGANIZATIONAL REGULATIONS
6. The authority citation for part 510 continues to read as
follows:
Authority: 5 U.S.C. 301; 12 U.S.C. 1462a, 1463, 1464.
Sec. 510.1 [Removed]
7. Section 510.1 is removed.
Sec. 510.3 [Removed]
8. Section 510.3 is removed.
PART 515--[REMOVED]
9. Part 515 is removed.
PART 529--[REMOVED]
10. Part 529 is removed.
PART 533--[REMOVED]
11. Part 533 is removed.
PART 543--INCORPORATION, ORGANIZATION, AND CONVERSION OF FEDERAL
MUTUAL ASSOCIATIONS
12. The authority citation for part 543 continues to read as
follows:
Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 2901 et
seq.
Secs. 543.12-543.13 [Removed]
13. Sections 543.12 and 543.13 are removed.
PART 545--OPERATIONS
14. The authority citation for part 545 continues to read as
follows:
Authority: 12 U.S.C. 1462a, 1463, 1464, 1828.
Secs. 545.15, 545.18-545.20, 545.44, 545.122, 545.136-
545.137 [Removed]
15. Sections 545.15, 545.18 through 545.20, 545.44, 545.122,
545.136 and 545.137 are removed.
PART 552--INCORPORATION, ORGANIZATION, AND CONVERSION OF FEDERAL
STOCK ASSOCIATIONS
16. The authority citation for part 552 continues to read as
follows:
Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a.
Sec. 552.2-4 [Removed]
17. Section 552.2-4 is removed.
Sec. 552.6-2 [Amended]
18. Section 552.6-2 is amended by removing the phrase
``Sec. 545.122 of this chapter'' in paragraph (b), and by adding in
lieu thereof the phrase ``Sec. 563.39 of this chapter''.
PART 556--STATEMENTS OF POLICY
19. The authority citation for part 556 continues to read as
follows:
Authority: 5 U.S.C. 552, 559; 12 U.S.C. 1464, 1701j-3; 15 U.S.C.
1693-1693r.
Secs. 556.4, 556.6, 556.8-556.9, 556.11, 556.14-556.15 [Removed]
20. Sections 556.4, 556.6, 556.8 through 556.9, 556.11, and 556.14
through 556.15 are removed.
PART 562--REGULATORY REPORTING STANDARDS
21. The authority citation for part 562 continues to read as
follows:
Authority: 12 U.S.C. 1463.
Sec. 562.3 [Removed]
22. Section 562.3 is removed.
PART 563--OPERATIONS
23. The authority citation for part 563 continues to read as
follows:
Authority: 12 U.S.C. 375b, 1462, 1462a, 1463, 1464, 1467a, 1468,
1817, 1828, 3806; 42 U.S.C. 4106.
Secs. 563.8, 563.49, 563.72 [Removed]
24. Sections 563.8, 563.49 and 563.72 are removed.
25. Section 563.41 is amended by removing the period at the end of
paragraph (b)(10)(iv) and adding a semicolon in its place, by adding
paragraph (b)(11), by removing paragraph (d)(1), by redesignating
paragraphs (d)(2) through (d)(7) as paragraphs (d)(1) through (d)(6),
respectively, and by removing the phrase ``After January 1, 1995, any''
in the introductory text of newly designated paragraph (d)(1) and
adding the word ``Any'' in its place, to read as follows:
Sec. 563.41 Loans and other transactions with affiliates and
subsidiaries.
* * * * *
(b) * * *
(11) The term capital stock and surplus of the savings association
means ``unimpaired capital and unimpaired surplus'' as defined at
Sec. 563.93(b)(11) of this part.
* * * * *
Sec. 563.42 [Amended]
26. Section 563.42 is amended, in paragraph (d)(1), by removing the
phrase ``Sec. 563.41, any bank, any savings association in a structure
qualifying under Sec. 563.41(d)(1) of this part or, after January 1,
1995,'', and by adding in lieu thereof the phrase ``Sec. 563.41 of this
part, any bank, or''.
Sec. 563.45 [Amended]
27. Section 563.43 is amended by adding paragraph (f) to read as
follows:
Sec. 563.43 Loans by savings associations to their executive officers,
directors and principal shareholders.
* * * * *
(f) References to the term ``unimpaired capital and unimpaired
surplus'' shall be deemed to refer to ``unimpaired capital and
unimpaired surplus'' as defined at Sec. 563.93(b)(11) of this part.
Sec. 563.52 [Amended]
28. Section 563.52 is amended by removing the phrase ``Sec. 584.6
of this chapter'' in paragraph (b), and by adding in lieu thereof the
phrase ``12 U.S.C. 1467a(m)''.
PART 563d--SECURITIES OF SAVINGS ASSOCIATIONS
29. The authority citation for part 563d continues to read as
follows:
Authority: 12 U.S.C. 1462a, 1463, 1464; 15 U.S.C. 78c(b), 78l,
78m, 78n, 78w, 78d-1.
Sec. 563d.200-30 [Removed]
30. Section 563d.200-30 is removed.
PART 563g--SECURITIES OFFERINGS
31. The authority citation for part 563g continues to read as
follows:
Authority: 12 U.S.C. 1462a, 1463, 1464; 15 U.S.C. 78c(b), 78l,
78m, 78n, 78p, 78w.
32. Section 563g.5 is amended by revising paragraphs (b)(1) and
(b)(2) to read as follows:
Sec. 563g.5 Filing and signature requirements.
* * * * *
(b) Number of copies. (1) Unless otherwise required, any filing
under this part shall include nine copies of the document to be filed
with the OTS, as follows:
(i) Seven copies, which shall include one manually signed copy with
exhibits,
[[Page 66870]]
three conformed copies with exhibits, and three conformed copies
without exhibits, to the Dissemination Branch, Records Management and
Information Policy; and
(ii) Two copies, which shall include one manually signed copy with
exhibits and one conformed copy, without exhibits, to the Regional
Director.
(2) Within five days after the effective date of an offering
circular or the commencement of a public offering after the effective
date, whichever occurs later, nine copies of the offering circular used
shall be filed with the OTS, as follows: seven copies to the
Dissemination Branch, Records Management and Information Policy, and
two copies to the Regional Director.
* * * * *
Sec. 563g.22 [Removed]
33. Section 563g.22 is removed.
PART 571--STATEMENTS OF POLICY
34. The authority citation for part 571 continues to read as
follows:
Authority: 5 U.S.C. 552, 559; 12 U.S.C. 1462a, 1463, 1464.
Sec. 571.24 [Amended]
35. Section 571.24 is amended by removing the phrase ``parts 528
and 529'' in paragraph (a), and by adding in lieu thereof the phrase
``part 528''.
PART 583--DEFINITIONS
36. The authority citation for part 583 is revised to read as
follows:
Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 1468.
Sec. 583.17 [Amended]
37. Section 583.17 is amended by removing the phrase ``Sec. 584.6
of this chapter'', and by adding in lieu thereof the phrase ``12 U.S.C.
1467a(m)''.
PART 584--REGULATED ACTIVITIES
38. The authority citation for part 584 continues to read as
follows:
Authority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 1468.
Sec. 584.2a [Amended]
39. Section 584.2a is amended by removing the phrase ``Sec. 584.6
of this chapter'' in paragraph (a)(2), and by adding in lieu thereof
the phrase ``12 U.S.C. 1467a(m)''.
Sec. 584.2-1 [Amended]
40. Section 584.2-1 is amended by removing the phrase ``Sec. 584.3
of this part'' where it appears in paragraphs (b)(2) and (b)(3)
introductory text, and by adding in lieu thereof the phrase ``12 U.S.C.
1468''.
Secs. 584.3, 584.6, 584.11 [Removed]
41. Sections 584.3, 584.6 and 584.11 are removed.
Dated: December 8, 1995.
By the Office of Thrift Supervision.
Jonathan L. Fiechter,
Acting Director.
[FR Doc. 95-31121 Filed 12-26-95; 8:45 am]
BILLING CODE 6720-01-P