80 FR 65886 - Domestic Dates Produced or Packed in Riverside County, California; Decreased Assessment Rate
DEPARTMENT OF AGRICULTURE
Agricultural Marketing Service Federal Register Volume 80, Issue 208 (October 28, 2015)
Agricultural Marketing Service
Federal Register Volume 80, Issue 208 (October 28, 2015)
| Page Range | 65886-65889 | |
| FR Document | 2015-27340 |
[Federal Register Volume 80, Number 208 (Wednesday, October 28, 2015)] [Rules and Regulations] [Pages 65886-65889] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-27340] ----------------------------------------------------------------------- DEPARTMENT OF AGRICULTURE Agricultural Marketing Service 7 CFR Part 987 [Docket No. AMS-FV-15-0034; FV15-987-1 IR] Domestic Dates Produced or Packed in Riverside County, California; Decreased Assessment Rate AGENCY: Agricultural Marketing Service, USDA. ACTION: Interim rule with request for comments. ----------------------------------------------------------------------- SUMMARY: This rule implements a recommendation from the California Date Administrative Committee (committee) for a decrease in the assessment rate established for the 2015-16 and subsequent crop years from $0.20 to $0.10 per hundredweight of dates handled. The committee locally administers the marketing order, which regulates the handling of dates grown or packed in Riverside County, California. Assessments upon date handlers are used by the committee to fund reasonable and necessary expenses of the program. The crop year begins October 1 and ends September 30. The new assessment rate will remain in effect indefinitely unless modified, suspended, or terminated. DATES: Effective October 29, 2015. Comments received by December 28, 2015, will be considered prior to issuance of a final rule. ADDRESSES: Interested persons are invited to submit written comments concerning this rule. Comments must be sent to the Docket Clerk, Marketing Order and Agreement Division, Specialty Crops Program, AMS, USDA, 1400 Independence Avenue SW., STOP 0237, Washington, DC 20250- 0237; Fax: (202) 720-8938; or Internet: http://www.regulations.gov. Comments should reference the docket number and the date and page number of this issue of the Federal Register and will be available for public inspection in the Office of the Docket Clerk during regular business hours, or can be viewed at: http://www.regulations.gov. All comments submitted in response to this rule will be included in the record and will be made available to the public. Please be advised that the identity of the [[Page 65887]] individuals or entities submitting comments will be made public on the internet at the address provided above. FOR FURTHER INFORMATION CONTACT: Terry Vawter, Senior Marketing Specialist, or Martin Engeler, Regional Director, California Marketing Field Office, Marketing Order and Agreement Division, Specialty Crops Program, AMS, USDA; Telephone: (559) 487-5901, Fax: (559) 487-5906, or Email: [email protected] or [email protected]. Small businesses may request information on complying with this regulation by contacting Jeffrey Smutny, Marketing Order and Agreement Division, Specialty Crops Program, AMS, USDA, 1400 Independence Avenue SW., STOP 0237, Washington, DC 20250-0237; Telephone: (202) 720-2491, Fax: (202) 720-8938, or Email: [email protected]. SUPPLEMENTARY INFORMATION: This rule is issued under Marketing Agreement and Order No. 987, both as amended (7 CFR part 987), regulating the handling of dates produced or packed in Riverside County, California, hereinafter referred to as the ``order.'' The order is effective under the Agricultural Marketing Agreement Act of 1937, as amended (7 U.S.C. 601-674), hereinafter referred to as the ``Act.'' The Department of Agriculture (USDA) is issuing this rule in conformance with Executive Orders 12866, 13563, and 13175. This rule has been reviewed under Executive Order 12988, Civil Justice Reform. Under the marketing order now in effect, Riverside County, California, date handlers are subject to assessments. Funds to administer the order are derived from such assessments. It is intended that the assessment rate as issued herein will be applicable to all assessable dates beginning October 1, 2015, and continue until amended, suspended, or terminated. The Act provides that administrative proceedings must be exhausted before parties may file suit in court. Under section 608c(15)(A) of the Act, any handler subject to an order may file with USDA a petition stating that the order, any provision of the order, or any obligation imposed in connection with the order is not in accordance with law and request a modification of the order or to be exempted therefrom. Such handler is afforded the opportunity for a hearing on the petition. After the hearing, USDA would rule on the petition. The Act provides that the district court of the United States in any district in which the handler is an inhabitant, or has his or her principal place of business, has jurisdiction to review USDA's ruling on the petition, provided an action is filed not later than 20 days after the date of the entry of the ruling. This rule decreases the assessment rate established by the committee for the 2015-16 and subsequent crop years from $0.20 to $0.10 per hundredweight of dates. The California date marketing order provides authority for the committee, with the approval of USDA, to formulate an annual budget of expenses and collect assessments from handlers to administer the program. The members of the committee are date producers and handlers from Riverside County, California. They are familiar with the committee's needs and the costs of goods and services in their local area and are thus in a position to formulate an appropriate budget and assessment rate. The assessment rate is formulated and discussed in a public meeting. Thus, all directly affected persons have an opportunity to participate and provide input. The committee met on June 25, 2015, and unanimously recommended 2015-16 expenditures of $59,250, and an assessment rate of $0.10 per hundredweight of Riverside County, California dates. In comparison, last year's budgeted expenditures were $56,200. The assessment rate of $0.10 is $0.10 lower than the rate currently in effect. This year's crop is estimated to be slightly larger than last year's crop. Sufficient income is expected to be generated when applying the recommended lower assessment rate to the larger crop. When combined with carry-in funds from the 2014-15 crop year, funding should be sufficient to cover anticipated 2015-16 expenses. The financial reserve will also be maintained within the limit specified under the order. The major expenditure recommended by the committee for the 2015-16 crop year is $59,250 for general and administrative expenses. In comparison, the major expenditures recommended by the committee for the 2014-15 crop year included $56,200 for general and administrative expenses, and $2,800 for contingency funds. The assessment rate of $0.10 per hundredweight of dates handled was recommended by the committee after considering several factors: The anticipated size of the 2015-16 crop, the committee's estimates of the incoming reserve, other income, and anticipated expenses. Date shipments for the year are estimated at 29,000,000 pounds (290,000 hundredweight) which should provide $29,000 in assessment income. Income derived from handler assessments and funds from the committee's authorized reserve, should be adequate to cover budgeted expenses for the crop year. Section 987.72(d) of the order states that the committee may maintain a monetary reserve not to exceed the average of one year's expenses incurred during the most recent five preceding crop years, except that an established reserve need not be reduced to conform to any recomputed average. The committee expects to utilize $25,250 of the reserve during the year to cover expenses, leaving approximately $44,750 in the reserve account. The remaining reserve will be below the limit specified in the order. The assessment rate established in this rule will continue in effect indefinitely unless modified, suspended, or terminated by USDA upon recommendation and information submitted by the committee or other available information. Although this assessment rate is effective for an indefinite period, the committee will continue to meet prior to or during each crop year to recommend a budget of expenses and consider recommendations for modification of the assessment rate. The dates and times of committee meetings are available from the committee or USDA. Committee meetings are open to the public and interested persons may express their views at these meetings. USDA will evaluate committee recommendations and other available information to determine whether modification of the assessment rate is needed. Further rulemaking will be undertaken as necessary. The committee's 2015-16 budget and those for subsequent crop years will be reviewed and, as appropriate, approved by USDA. Initial Regulatory Flexibility Analysis Pursuant to requirements set forth in the Regulatory Flexibility Act (RFA) (5 U.S.C. 601-612), the Agricultural Marketing Service (AMS) has considered the economic impact of this rule on small entities. Accordingly, AMS has prepared this initial regulatory flexibility analysis. The purpose of the RFA is to fit regulatory actions to the scale of businesses subject to such actions in order that small businesses will not be unduly or disproportionately burdened. Marketing orders issued pursuant to the Act, and the rules issued thereunder, are unique in that they are brought about through group action of essentially [[Page 65888]] small entities acting on their own behalf. There are approximately 70 date producers in the production area and 11 handlers subject to regulation under the marketing order. The Small Business Administration defines small agricultural producers as those having annual receipts of less than $750,000, and small agricultural service firms as those whose annual receipts are less than $7,000,000. (13 CFR 121.201) According to the National Agricultural Statistics Service (NASS), data for the most-recently completed crop year (2014) shows that about 3.54 tons, or 7,080 pounds, of dates were produced per acre. The 2014 producer price published by NASS was $1,190 per ton. Thus, the value of date production per acre in 2014-15 averaged about $4,213 (3.54 tons times $1,190 per ton). At that average price, a producer would have to farm over 178 acres to receive an annual income from dates of $750,000 ($750,000 divided by $4,213 per acre equals 178.02 acres). According to committee staff, the majority of California date producers farm less than 178 acres. Thus, it can be concluded that the majority of date producers could be considered small entities. In addition, according to data from the committee staff, the majority of California date handlers have receipts of less than $7,000,000 and may also be considered small entities. This rule decreases the assessment rate established by the committee and collected from handlers for the 2015-16 and subsequent crop years from $0.20 to $0.10 per hundredweight of dates handled. The committee unanimously recommended 2015-16 expenditures of $59,250 and an assessment rate of $0.10 per hundredweight of dates, which is $0.10 lower than the 2014-15 rate currently in effect. The quantity of assessable dates for the 2015-16 crop year is estimated at 29,000,000 pounds (290,000 hundredweight). Thus, the $0.10 rate should provide $29,000 in assessment income. Income derived from handler's assessments, and funds from the committee's authorized reserve, and other funds should be adequate to cover expenses for the 2015-16 crop year. The major expenditure recommended by the committee for the 2015-16 crop year is $59,250 for general and administrative expenses. In comparison, the major expenditures recommended by the Committee for the 2014-15 crop year included $56,200 for general and administrative expenses and $2,800 for contingency funds. The committee recommended a lower assessment rate because income generated from the lower assessment rate applied to the larger crop, combined with carry-in funds from the 2014-15 crop year, should be sufficient to cover anticipated 2015-16 expenses and to maintain a financial reserve within the limit specified under the order. Section 987.72(d) of the order states that the committee may maintain a monetary reserve not to exceed the average of one year's expenses incurred during the most recent five preceding crop years, except that an established reserve need not be reduced to conform to any recomputed average. The committee estimated a $70,000 reserve carry-in for the 2015-16 crop year. It expects to utilize $25,250 of the reserve during the year, for a carry-out of approximately $44,750, which is below the limit specified in the order. The committee reviewed and unanimously recommended 2015-16 crop year expenditures of $59,250. Prior to arriving at this budget, the Committee considered alternative expenditure levels and assessment rates. The committee recommended an assessment rate of $0.10 per hundredweight of dates after considering several factors including the anticipated 2015-16 crop size, the committee's estimates of the incoming reserve funds and other income, and its anticipated expenses. A review of historical and preliminary information pertaining to the upcoming crop year indicates that the producer price for the 2015- 16 crop year could be approximately $60.00 per hundredweight of dates. Utilizing these estimates and the assessment rate of $0.10 per hundredweight, the estimated assessment revenue for the 2015-16 crop year as a percentage of total producer revenue is approximately 0.17 percent. This action decreases the assessment obligation imposed on handlers. Assessments are applied uniformly on all handlers, and decreasing the assessment rate reduces the burden on handlers. In addition, the committee meeting was widely publicized throughout the California date industry, and all interested persons were invited to attend the meetings and encouraged to participate in committee deliberations on all issues. Like all committee meetings, the June 25, 2015, meeting was a public meeting and all entities, both large and small, were able to express views on this issue. Industry members also discussed the various possible assessment rates, potential crop size, and estimated expenses at this meeting. Finally, interested persons are invited to submit comments on this interim rule, including the regulatory and informational impacts of this action on small businesses. In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35), the order's information collection requirements have been previously approved by the Office of Management and Budget (OMB) and assigned OMB No. 0581-0178, ``Vegetable and Specialty Crop Marketing Orders.'' No changes in those requirements as a result of this action are necessary. Should any changes become necessary, they would be submitted to OMB for approval. This action imposes no additional reporting or recordkeeping requirements on either small or large Riverside County, California date handlers. As with all Federal marketing order programs, reports and forms are periodically reviewed to reduce information requirements and duplication by industry and public sector agencies. AMS is committed to complying with the E-Government Act, to promote the use of the internet and other information technologies to provide increased opportunities for citizen access to Government information and services, and for other purposes. USDA has not identified any relevant Federal rules that duplicate, overlap, or conflict with this rule. A small business guide on complying with fruit, vegetable, and specialty crop marketing agreements and orders may be viewed at: http://www.ams.usda.gov/MarketingOrdersSmallBusinessGuide. Any questions about the compliance guide should be sent to Jeffrey Smutny at the previously mentioned address in the FOR FURTHER INFORMATION CONTACT section. After consideration of all relevant material presented, including the information and recommendation submitted by the Committee and other available information, it is hereby found that this rule, as hereinafter set forth, will tend to effectuate the declared policy of the Act. Pursuant to 5 U.S.C. 553, it is also found and determined upon good cause that it is impracticable, unnecessary, and contrary to the public interest to give preliminary notice prior to putting this rule into effect, and that good cause exists for not postponing the effective date of this rule until 30 days after publication in the Federal Register because: (1) The 2015-16 crop year began on October 1, 2015, and the marketing order requires that the rate of assessment for each crop year apply to all assessable dates handled during such crop year; (2) the action decreases the assessment rate for assessable dates [[Page 65889]] beginning with the 2015-16 crop year; (3) handlers are aware of this action which was unanimously recommended by the committee at a public meeting and is similar to other assessment rate actions issued in past years; and (4) this interim rule provides a 60-day comment period, and all comments timely received will be considered prior to finalization of this rule. List of Subjects in 7 CFR Part 987 Dates, Marketing agreements, Reporting and recordkeeping requirements. For the reasons set forth in the preamble, 7 CFR part 987 is amended as follows: PART 987--DATES PRODUCED OR PACKED IN RIVERSIDE COUNTY, CALIFORNIA 0 1. The authority citation for 7 CFR part 987 continues to read as follows: Authority: 7 U.S.C. 601-674. 0 2. Section 987.339 is revised to read as follows: Sec. 987.339 Assessment rate. On and after October 1, 2015, an assessment rate of $0.10 per hundredweight is established for Riverside County, California dates. Dated: October 22, 2015. Rex A. Barnes, Associate Administrator, Agricultural Marketing Service. [FR Doc. 2015-27340 Filed 10-27-15; 8:45 am] BILLING CODE 3410-02-P
![65886 Federal Register / Vol. 80, No. 208 / Wednesday, October 28, 2015 / Rules and Regulations
range of $1.52 to $1.86. Dividing these 49930). Copies of the proposed rule Dated: October 22, 2015.
inshell per pound prices by the 0.45 were also provided to all walnut Rex A. Barnes,
conversion factor (inshell to handlers. Finally, the proposal was Associate Administrator, Agricultural
kernelweight) established in the order made available through the Internet by Marketing Service.
yields a 2015–16 price range estimate of USDA and the Office of the Federal [FR Doc. 2015–27359 Filed 10–27–15; 8:45 am]
$3.38 to $4.13 per kernelweight pound Register. A 30-day comment period BILLING CODE 3410–02–P
of assessable walnuts. ending September 17, 2015, was
To calculate the percentage of grower provided for interested persons to
revenue represented by the assessment respond to the proposal. No complete DEPARTMENT OF AGRICULTURE
rate, the assessment rate of $0.0379 per comments were received. Accordingly,
kernelweight pound is divided by the no changes will be made to the rule as Agricultural Marketing Service
low and high estimates of the price proposed.
range. The estimated assessment A small business guide on complying 7 CFR Part 987
revenue for the 2015–16 marketing year with fruit, vegetable, and specialty crop [Docket No. AMS–FV–15–0034; FV15–987–
as a percentage of total grower revenue marketing agreements and orders may 1 IR]
will thus likely range between 0.92 and be viewed at: http://www.ams.usda.gov/
1.11 percent. MarketingOrderSmallBusinessGuide. Domestic Dates Produced or Packed in
This action increases the assessment Any questions about the compliance Riverside County, California;
obligation imposed on handlers. While guide should be sent to Jeffrey Smutny Decreased Assessment Rate
assessments impose some additional at the previously mentioned address in
costs on handlers, the costs are minimal AGENCY: Agricultural Marketing Service,
the FOR FURTHER INFORMATION CONTACT USDA.
and uniform on all handlers. These section.
costs are offset by the benefits derived ACTION: Interim rule with request for
After consideration of all relevant comments.
by the operation of the marketing order. material presented, including the
In addition, the Board’s meeting was information and recommendation SUMMARY: This rule implements a
widely publicized throughout the submitted by the Board and other recommendation from the California
California walnut industry, and all available information, it is hereby found Date Administrative Committee
interested persons were invited to that this rule, as hereinafter set forth, (committee) for a decrease in the
attend the meeting and encouraged to will tend to effectuate the declared assessment rate established for the
participate in Board deliberations on all policy of the Act. 2015–16 and subsequent crop years
issues. Like all Board meetings, the June Pursuant to 5 U.S.C. 553, it is also from $0.20 to $0.10 per hundredweight
4, 2015, meeting was a public meeting found and determined that good cause of dates handled. The committee locally
and all entities, both large and small, administers the marketing order, which
exists for not postponing the effective
were free to express views on this issue. regulates the handling of dates grown or
date of this rule until 30 days after
In accordance with the Paperwork
publication in the Federal Register packed in Riverside County, California.
Reduction Act of 1995, (44 U.S.C.
because handlers are already receiving Assessments upon date handlers are
Chapter 35), the order’s information
2015–16 crop walnuts from growers, the used by the committee to fund
collection requirements have been
marketing year began on September 1, reasonable and necessary expenses of
previously approved by the Office of
2015, and the assessment rate applies to the program. The crop year begins
Management and Budget (OMB) and
all walnuts received during the 2015–16 October 1 and ends September 30. The
assigned OMB No. 0581–0178 (Walnuts
and subsequent marketing years. new assessment rate will remain in
Grown in California). No changes in
Further, handlers are aware of this rule effect indefinitely unless modified,
those requirements are necessary as a
which was recommended at a public suspended, or terminated.
result of this action. Should any changes
become necessary, they would be meeting. Also, a 30-day comment period DATES: Effective October 29, 2015.
submitted to OMB for approval. was provided in the proposed rule. Comments received by December 28,
This rule imposes no additional List of Subjects in 7 CFR Part 984 2015, will be considered prior to
reporting or recordkeeping requirements issuance of a final rule.
Marketing agreements, Nuts, ADDRESSES: Interested persons are
on either small or large California
Reporting and recordkeeping invited to submit written comments
walnut handlers. As with all Federal
requirements, Walnuts. concerning this rule. Comments must be
marketing order programs, reports and
forms are periodically reviewed to For the reasons set forth in the sent to the Docket Clerk, Marketing
reduce information requirements and preamble, 7 CFR part 984 is amended as Order and Agreement Division,
duplication by industry and public follows: Specialty Crops Program, AMS, USDA,
sector agencies. As noted in the initial 1400 Independence Avenue SW., STOP
PART 984—WALNUTS GROWN IN 0237, Washington, DC 20250–0237; Fax:
regulatory flexibility analysis, USDA
CALIFORNIA (202) 720–8938; or Internet: http://
has not identified any relevant Federal
rules that duplicate, overlap, or conflict www.regulations.gov. Comments should
■ 1. The authority citation for 7 CFR
with this action. reference the docket number and the
part 984 continues to read as follows:
AMS is committed to complying with date and page number of this issue of
the E-Government Act, to promote the Authority: 7 U.S.C. 601–674. the Federal Register and will be
use of the Internet and other ■ 2. Section 984.347 is revised to read available for public inspection in the
information technologies to provide as follows: Office of the Docket Clerk during regular
Lhorne on DSK5TPTVN1PROD with RULES
increased opportunities for citizen business hours, or can be viewed at:
access to Government information and § 984.347 Assessment rate. http://www.regulations.gov. All
services, and for other purposes. On and after September 1, 2015, an comments submitted in response to this
A proposed rule concerning this assessment rate of $0.0379 per rule will be included in the record and
action was published in the Federal kernelweight pound is established for will be made available to the public.
Register on August 18, 2015, (80 FR California merchantable walnuts. Please be advised that the identity of the
VerDate Sep<11>2014 15:03 Oct 27, 2015 Jkt 238001 PO 00000 Frm 00006 Fmt 4700 Sfmt 4700 E:\FR\FM\28OCR1.SGM 28OCR1](https://thefederalregister.org/doc/80_FR_66094/page/1.svg)
![Federal Register / Vol. 80, No. 208 / Wednesday, October 28, 2015 / Rules and Regulations 65889
beginning with the 2015–16 crop year; rule accomplishes several objectives. The Dodd-Frank Wall Street Reform
(3) handlers are aware of this action First, the final rule consolidates into one and Consumer Protection Act, 12 U.S.C.
which was unanimously recommended subpart the current requirements and 5301, et seq. (Dodd-Frank Act), among
by the committee at a public meeting procedures for Notices filed with other things, provided for a substantial
and is similar to other assessment rate respect to State nonmember banks and reorganization of the regulation of State
actions issued in past years; and (4) this certain parent companies thereof, and and Federal savings associations and
interim rule provides a 60-day comment the requirements and procedures for their holding companies. On July 21,
period, and all comments timely Notices filed with respect to State 2011, (the ‘‘transfer date’’ established by
received will be considered prior to savings associations and certain parent section 311 of the Dodd-Frank Act), the
finalization of this rule. companies thereof. Second, the final powers, duties, and functions formerly
rule rescinds the FDIC’s separate assigned to, or performed by, the OTS
List of Subjects in 7 CFR Part 987 regulation governing the requirements were transferred to (i) the FDIC, as to
Dates, Marketing agreements, and procedures for Notices filed with State savings associations; 4 (ii) the OCC,
Reporting and recordkeeping respect to State savings associations and as to Federal savings associations; and
requirements. certain parent companies thereof and (iii) the Board of Governors, as to
For the reasons set forth in the rescinds any guidance issued by the savings and loan holding companies.5
preamble, 7 CFR part 987 is amended as Office of Thrift Supervision (OTS) Section 316(b) of the Dodd-Frank Act
follows: relating to changes in control of State provides the manner of treatment for all
savings associations that is inconsistent orders, resolutions, determinations,
PART 987—DATES PRODUCED OR with the final rule. Third, the final rule regulations, and advisory materials that
PACKED IN RIVERSIDE COUNTY, adopts the best practices of the related had been issued, made, prescribed, or
CALIFORNIA regulations of the Office of the allowed to become effective by the
Comptroller of the Currency (OCC) and OTS.6 The section provides that if such
■ 1. The authority citation for 7 CFR the Board of Governors of the Federal materials were in effect on the day
part 987 continues to read as follows: Reserve System (Board of Governors). before the transfer date, they continue to
Authority: 7 U.S.C. 601–674. Finally, the final rule clarifies the be in effect and are enforceable by or
FDIC’s requirements and procedures against the appropriate successor agency
■ 2. Section 987.339 is revised to read
based on its experience interpreting and until they are modified, terminated, set
as follows:
implementing the existing regulation. aside, or superseded in accordance with
§ 987.339 Assessment rate. This final rule is also part of the FDIC’s applicable law by such successor
On and after October 1, 2015, an continuing review of its regulations agency, by any court of competent
assessment rate of $0.10 per under the Economic Growth and jurisdiction, or by operation of law.
hundredweight is established for Regulatory Paperwork Reduction Act of Section 316(c) of the Dodd-Frank Act,
Riverside County, California dates. 1996. further directed the FDIC and the OCC
DATES: The final rule is effective January to consult with one another and to
Dated: October 22, 2015.
1, 2016. publish a list of the continued OTS
Rex A. Barnes, regulations which would be enforced by
FOR FURTHER INFORMATION CONTACT: Ann
Associate Administrator, Agricultural Johnson Taylor, Supervisory Counsel, each agency.7 On June 14, 2011, the
Marketing Service. Board of Directors of the FDIC (the
AJohnsonTaylor@fdic.gov; Gregory S.
[FR Doc. 2015–27340 Filed 10–27–15; 8:45 am] Feder, Counsel, GFeder@fdic.gov; Board) approved a ‘‘List of OTS
BILLING CODE 3410–02–P Rachel J. Ackmann, Counsel, Regulations to be Enforced by the OCC
RAckmann@fdic.gov; Robert C. Fick, and the FDIC pursuant to the Dodd-
Senior Counsel, RFick@fdic.gov. Frank Wall Street Reform and Consumer
FEDERAL DEPOSIT INSURANCE SUPPLEMENTARY INFORMATION: Protection Act’’. This list was published
CORPORATION by the FDIC and the OCC as a Joint
I. Background Notice in the Federal Register on July
12 CFR Parts 303 and 391 The Federal Deposit Insurance Act 6, 2011.8
RIN 3064–AE24 (FDI Act) at section 7(j) (the Change in Although section 312(b)(2)(B)(i)(II) of
Bank Control Act) generally provides the Dodd-Frank Act granted the OCC
Filing Requirements and Processing that no person may acquire control of an rulemaking authority relating to savings
Procedures for Changes in Control insured depository institution unless associations, nothing in the Dodd-Frank
With Respect to State Nonmember the person has provided the appropriate Act affected the FDIC’s existing
Banks and State Savings Associations Federal banking agency prior written authority to issue regulations under the
notice of the transaction and the FDI Act and other laws as the
AGENCY: Federal Deposit Insurance banking agency has not objected to the
Corporation (FDIC). proposed transaction.1 Subpart E of Part nonmember banks under the FDI Act are not
ACTION: Final rule. 303 of the FDIC’s rules and regulations 2 ‘‘banks’’ under the Bank Holding Company Act
(‘‘BHC Act’’). 12 U.S.C. 1841(c)(2). Therefore, a
(Subpart E of Part 303) implements
SUMMARY: On November 25, 2014, the company that seeks to control such an institution
section 7(j) of the FDI Act and sets forth would not necessarily have to be a bank holding
FDIC published a notice of proposed
the filing requirements and processing company under the BHC Act and would not have
rulemaking (proposed rule or NPR) to to be subject to supervision by the Board of
procedures for Notices filed with
amend its filing requirements and Governors. However, such a company would have
respect to the proposed acquisition of
processing procedures for notices filed to file a Notice with, and obtain the approval of, the
Lhorne on DSK5TPTVN1PROD with RULES
State nonmember banks and certain FDIC prior to acquiring such an institution.
under the Change in Bank Control Act
parent companies thereof.3 4 As of June 2015, there are approximately 50
(Notices). The comment period closed State savings associations insured by the FDIC.
January 26, 2015, and no comments 1 12 U.S.C. 1817(j). 5 12 U.S.C. 5411.
were received. The FDIC is now 2 12 CFR 303.80 et seq. 6 12 U.S.C. 5414(b).
adopting that proposed rule as final 3 Certain industrial loan companies, trust 7 12 U.S.C. 5414(c).
with one change (final rule). The final companies, and credit card banks that are State 8 76 FR 39246 (July 6, 2011).
VerDate Sep<11>2014 17:19 Oct 27, 2015 Jkt 238001 PO 00000 Frm 00009 Fmt 4700 Sfmt 4700 E:\FR\FM\28OCR1.SGM 28OCR1](https://thefederalregister.org/doc/80_FR_66094/page/4.svg)
Document Created: 2018-02-27 08:57:55
Document Modified: 2018-02-27 08:57:55
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Rules and Regulations | |
| Action | Interim rule with request for comments. | |
| Dates | Effective October 29, 2015. Comments received by December 28, 2015, will be considered prior to issuance of a final rule. | |
| Contact | Terry Vawter, Senior Marketing Specialist, or Martin Engeler, Regional Director, California Marketing Field Office, Marketing Order and Agreement Division, Specialty Crops Program, AMS, USDA; Telephone: (559) 487-5901, Fax: (559) 487-5906, or Email: [email protected] or [email protected] | |
| FR Citation | 80 FR 65886 | |
| CFR Associated | Dates; Marketing Agreements and Reporting and Recordkeeping Requirements |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR