80 FR 65919 - Temporary Liquidity Guarantee Program; Unlimited Deposit Insurance Coverage for Noninterest-Bearing Transaction Accounts
FEDERAL DEPOSIT INSURANCE CORPORATION Federal Register Volume 80, Issue 208 (October 28, 2015)
Federal Register Volume 80, Issue 208 (October 28, 2015)
| Page Range | 65919-65921 | |
| FR Document | 2015-27294 |
[Federal Register Volume 80, Number 208 (Wednesday, October 28, 2015)] [Rules and Regulations] [Pages 65919-65921] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-27294] ----------------------------------------------------------------------- FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Parts 330 and 370 RIN 3064-AE34 Temporary Liquidity Guarantee Program; Unlimited Deposit Insurance Coverage for Noninterest-Bearing Transaction Accounts AGENCY: Federal Deposit Insurance Corporation (FDIC). ACTION: Final rule. ----------------------------------------------------------------------- SUMMARY: The FDIC is rescinding and removing its regulations implementing the Temporary Liquidity Guarantee Program (TLGP) and the unlimited deposit insurance coverage for ``noninterest-bearing transaction accounts'' provided by section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and related definitions. Because these programs have expired by their terms, the regulations implementing them are unnecessary and obsolete. DATES: Effective Date: The final rule is effective October 28, 2015. FOR FURTHER INFORMATION CONTACT: Schuyler Livingston, Economic Analyst, Division of Insurance and Research (202) 898-6830 or [email protected]; Marc Steckel, Deputy Director, Division of Resolutions and Receiverships (571) 858-8224 or [email protected]; Lisa D. Arquette, Associate Director, Division of Risk Management Supervision (202) 898-8633 or [email protected]; or Gregory S. Feder, Counsel, Legal Division (202) 898-8724 or [email protected]. SUPPLEMENTARY INFORMATION: I. Background In October 2008, acting in response to unprecedented disruptions to the nation's credit markets and pursuant to section 13(c)(4)(G) of the Federal Deposit Insurance Act (FDI Act),\1\ the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) and the Board of Governors of the Federal Reserve System (FRB) recommended that the Secretary of the Treasury, following consultation with the President, make a determination that systemic risk existed in the nation's financial system. After the Treasury Secretary's determination of systemic risk, the FDIC was authorized to take action or to provide assistance as necessary to avoid or to mitigate the effects of the perceived risks to the financial system. Pursuant to this [[Page 65920]] authority, the FDIC issued part 370 of Title 12 of the Code of Federal Regulations (part 370) which established the TLGP. The TLGP was composed of two distinct components: The Debt Guarantee Program (DGP) and the Transaction Account Guarantee Program (TAGP). The DGP provided a temporary FDIC guarantee for all newly issued senior unsecured debt issued by participating entities up to prescribed limits; the TAGP provided a temporary FDIC guarantee for all funds held at FDIC-insured depository institutions in noninterest-bearing transaction accounts above the existing deposit insurance limit. --------------------------------------------------------------------------- \1\ 12 U.S.C. 1823(c)(4)(G). --------------------------------------------------------------------------- From its inception, the TLGP was intended to be a time-limited program. The FDIC's initial guarantee under the DGP expired on the earlier of the maturity date of the debt or June 30, 2012, for newly issued senior unsecured debt issued through June 30, 2009, by entities that opted into the DGP.\2\ To reduce market disruption at the conclusion of the DGP and to facilitate the orderly phase-out of the program, in 2009, the FDIC extended the issuance period for senior unsecured debt through October 31, 2009, and similarly extended the FDIC's guarantee on such obligations to the earlier of the stated maturity date of the debt or December 31, 2012.\3\ Later in 2009, the FDIC established a limited six-month emergency guarantee facility, available to participating entities on an application basis. Although no entities applied to avail themselves of the FDIC's emergency guarantee facility, the FDIC would have permitted approved entities to issue FDIC-guaranteed debt through April 30, 2010, for which the FDIC's guarantee would have expired on the earlier of the stated maturity date of the debt or December 31, 2012.\4\ --------------------------------------------------------------------------- \2\ 73 FR 72244 (Nov. 26, 2008). \3\ 74 FR 26521 (Jun. 3, 2009). \4\ 74 FR 54743 (Oct. 23, 2009). --------------------------------------------------------------------------- Under the TAGP, the FDIC's guarantee of all noninterest-bearing transaction accounts originally was scheduled to expire on December 31, 2009.\5\ In recognition of the continuing effects of economic turmoil, the FDIC twice extended the expiration deadline for the TAGP: First, until June 30, 2010,\6\ and, later, until December 31, 2010, ``unless the Board, for good cause, extends the program for an additional period of time not to exceed one year.'' \7\ On September 30, 2010, the FDIC indicated that the TAGP would not be extended beyond December 31, 2010.\8\ --------------------------------------------------------------------------- \5\ 73 FR 72244 (Nov. 26, 2008). \6\ 74 FR 45093 (Sept. 1, 2009). \7\ 75 FR 36506 (Jun. 28, 2010). \8\ 75 FR 60341 (Sept. 30, 2010). --------------------------------------------------------------------------- Over the course of the DGP's existence, 122 entities issued TLGP debt. At its peak, the DGP guaranteed $345.8 billion of outstanding debt. The DGP guarantee on all TLGP debt that had not already matured expired on December 31, 2012. Therefore, at the end of 2012, no debt guaranteed by the FDIC under the DGP remained. The FDIC collected $10.4 billion in fees and surcharges under the DGP. As of December 31, 2012, the FDIC had paid $153 million in losses resulting from six participating entities defaulting on debt issued under the DGP. The majority of these losses ($113 million) arose from banks with outstanding DGP notes that failed in 2011 and were placed into receivership. The FDIC collected $1.2 billion in fees under the TAGP. Cumulative estimated TAGP losses on failures as of December 31, 2012, totaled $2.1 billion. Overall, TLGP fees exceeded the losses from the program. From the inception of the TLGP, it was the FDIC's policy to recognize revenue to the Deposit Insurance Fund (DIF) for any portion of guarantee fees in excess of amounts needed to cover potential losses upon expiration of the TLGP guarantee period (December 31, 2012) or earlier. In total, $9.3 billion in TLGP fees were deposited into the DIF. On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) was enacted.\9\ Section 343 of the Dodd-Frank Act provided for unlimited deposit insurance for noninterest-bearing transaction accounts for two years starting December 31, 2010, after which, by its terms, the section was repealed. This unlimited coverage for ``noninterest-bearing transaction accounts'' as defined in the Dodd-Frank Act was similar to, but not identical to, the protection provided for such account owners under the FDIC's TAGP. On November 15, 2010, the FDIC published a final rule in the Federal Register amending 12 CFR part 330 to implement section 343 of the Dodd-Frank Act, providing for unlimited deposit insurance for ``noninterest-bearing transaction accounts'' for two years starting December 31, 2010.\10\ The final rule added a new definition of noninterest-bearing transaction account to the FDIC's regulations at Sec. 330.1(r) (now Sec. 330.1(s)). The final rule also added new Sec. 330.16 to provide for full insurance coverage, regardless of the standard maximum deposit insurance limit, to noninterest-bearing transaction accounts from December 31, 2010, through December 31, 2012. --------------------------------------------------------------------------- \9\ Public Law 111-203 (July 21, 2010). \10\ 75 FR 69577 (Nov. 15, 2010) (adding 12 CFR 303.1(r), 303.16). The FDIC used its proposed rule implementing the Dodd-Frank coverage for noninterest-bearing transaction accounts as a vehicle for the FDIC's Board of Directors to announce that it would not continue the TAGP beyond December 31, 2010. 75 FR 60341(Sept. 30, 2010). --------------------------------------------------------------------------- On January 27, 2011, the FDIC published a final rule in the Federal Register (1) amending the definition of ``noninterest-bearing transaction account'' to include IOLTA accounts; (2) requiring that notice be posted regarding the scope of coverage of the Dodd-Frank Act transaction account guarantee program at the bank's main office, in branch lobbies, and on its Web site; and (3) requiring that notice be provided to holders of NOW accounts that such accounts are no longer covered.\11\ --------------------------------------------------------------------------- \11\ 76 FR 4813 (Jan. 27, 2011) (amending 12 CFR 303.1(r), 303.16). --------------------------------------------------------------------------- The expiration dates for the DGP and the TAGP were stated clearly in the FDIC's TLGP regulation. Because December 31, 2010 (the expiration date of the TAGP) and December 31, 2012 (the expiration of the DGP) have passed, all of the FDIC's obligations under either component of the TLGP have expired. With the expiration of both the DGP and the TAGP, part 370 is unnecessary and obsolete. Similarly, Sec. 330.16(a) clearly provides that the unlimited deposit insurance for noninterest-bearing transaction accounts under the Dodd-Frank Act expired on December 31, 2012. After that date, by its terms, the section was repealed. As such, Sec. 330.16 and the definition of ``noninterest-bearing transaction account'' at Sec. 330.1(s) are unnecessary and obsolete. II. The Final Rule For the reasons set forth in the preceding section, the FDIC is issuing the final rule, which will rescind part 370, Sec. 330.16, and Sec. 330.1(s) and remove them from the FDIC's regulations. III. Regulatory Analysis A. Administrative Procedure Act 1. Notice and Opportunity for Public Comment Pursuant to section 553(b)(3)(B) of the Administrative Procedure Act (APA), providing notice and an opportunity for public comment is not required prior to the issuance of a substantive rule if an agency for good cause finds that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest. In this instance, [[Page 65921]] the FDIC invokes this good cause exception to Section 553 of the APA. The FDIC believes that good cause exists for issuing a final rule without providing notice and an opportunity for public comment because such an exercise is ``unnecessary.'' By the express terms of both regulations, the underlying programs described in part 370 and Sec. 330.16 have expired, and, because of that, the rescission of these rules can have no effect on the banking industry or the public. Moreover, the rescission of part 370, Sec. 330.1(s), and Sec. 330.16 is not ``substantive'' as the programs that these regulations implemented have expired and they affect no substantive rights or obligations. 2. Effective Date In addition, section 553(d)(3) of the APA provides that an agency, for good cause found and published with the rule, does not have to comply with the requirement that a substantive rule be published not less than 30 days before its effective date. The FDIC invokes this good cause exception because the rescission of part 370, Sec. 330.1(s), and Sec. 330.16 is not ``substantive'' as the programs that these regulations implemented have expired and they affect no substantive rights or obligations.\12\ --------------------------------------------------------------------------- \12\ 5 U.S.C. 553(d)(3). --------------------------------------------------------------------------- B. The Economic Growth and Regulatory Paperwork Reduction Act Under section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA),\13\ the FDIC is required to review all of its regulations, at least once every 10 years, in order to identify any outdated or otherwise unnecessary regulations imposed on insured institutions. The FDIC completed the last comprehensive review of its regulations under EGRPRA in 2006 and has commenced the next decennial review. Rescission of part 370 and Sec. 330.16 is consistent with the required regulatory response to the EGRPRA review process: To eliminate unnecessary regulations to the extent such action is appropriate. --------------------------------------------------------------------------- \13\ 12 U.S.C. 3311. --------------------------------------------------------------------------- C. Small Business Regulatory Enforcement Fairness Act The Office of Management and Budget has determined that the Final Rule is not a ``major rule'' within the meaning of the relevant sections of the Small Business Regulatory Enforcement Act of 1996 (SBREFA).\14\ As required by law, the FDIC will file the appropriate reports with Congress and the General Accounting Office so that the Final Rule may be reviewed. --------------------------------------------------------------------------- \14\ Public Law 104-121 (Mar. 29, 1996), as amended by Public Law 110-28 (May 25, 2007). --------------------------------------------------------------------------- D. Paperwork Reduction Act Existing collections of information shall be discontinued or modified, as appropriate, to the extent that this rule obviates or alters any collection of information. E. Regulatory Flexibility Act The Regulatory Flexibility Act \15\ (RFA) applies only to rules for which an agency publishes a general notice of proposed rulemaking pursuant to 5 U.S.C. 553(b), or any other law.\16\ As discussed above, consistent with section 553(b)(3)(B) of the APA, the FDIC has determined for good cause that general notice and opportunity for public comment would be unnecessary. Therefore, pursuant to 5 U.S.C. 601(2), the RFA does not apply. --------------------------------------------------------------------------- \15\ Public Law 96-354 (Sept. 19, 1980). \16\ 5 U.S.C. 601(2). --------------------------------------------------------------------------- List of Subjects 12 CFR Part 330 Bank deposit insurance, Banks, Banking, Reporting and recordkeeping requirements, Savings and loan associations, Trusts and trustees. 12 CFR Part 370 Banks, Banking, Bank deposit insurance, Holding companies, National banks, Reporting and recordkeeping requirements, Savings associations. Authority and Issuance For the reasons set forth in the preamble above, under the authority of 12 U.S.C. 1821, the Board of Directors of the Federal Deposit Insurance Corporation amends chapter III of title 12 of the Code of Federal Regulations as follows: PART 330--DEPOSIT INSURANCE COVERAGE 0 1. The authority citation for part 330 continues to read as follows: Authority: 12 U.S.C. 1813(l), 1813(m), 1817(i), 1818(q), 1819(a)(Tenth), 1820(f), 1820(g), 1821(a), 1821(d), 1822(c). Sec. 330.1 [Amended] 0 2. Remove and reserve Sec. 330.1(s). Sec. 330.16 [Removed and Reserved] 0 3. Remove and reserve Sec. 330.16. PART 370--[Removed and Reserved] 0 4. Remove and reserve part 370. Dated at Washington, DC, this 22nd day of October 2015. By order of the Board of Directors. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2015-27294 Filed 10-27-15; 8:45 am] BILLING CODE 6714-01-P
![Federal Register / Vol. 80, No. 208 / Wednesday, October 28, 2015 / Rules and Regulations 65919
brokers, dealers, persons providing persons providing insurance, FEDERAL DEPOSIT INSURANCE
insurance, investment companies, and investment companies, or investment CORPORATION
investment advisers). advisers).
12 CFR Parts 330 and 370
■ 3. Amend § 334.3 by adding paragraph (b) * * *
(m) to read as follows: (3) State savings association has the RIN 3064–AE34
§ 334.3 Definitions. same meaning as in section 3(b)(3) of Temporary Liquidity Guarantee
* * * * * the Federal Deposit Insurance Act, 12 Program; Unlimited Deposit Insurance
(m) State savings association has the U.S.C. 1813(b)(3). Coverage for Noninterest-Bearing
same meaning as in section 3(b)(3) of * * * * * Transaction Accounts
the Federal Deposit Insurance Act, 12
■ 8. In appendix J to part 334, amend AGENCY: Federal Deposit Insurance
U.S.C. 1813(b)(3).
supplement A under the heading Corporation (FDIC).
Subparts C through E—[Removed and ‘‘Alerts, Notifications or Warnings from ACTION: Final rule.
Reserved] a Consumer Reporting Agency’’ by
revising paragraph 3 to read as follows: SUMMARY: The FDIC is rescinding and
■ 3. Remove and reserve subparts C, D, removing its regulations implementing
and E. Appendix J to Part 334—Interagency the Temporary Liquidity Guarantee
Guidelines on Identity Theft Detection, Program (TLGP) and the unlimited
Subpart I—Records Disposal Prevention, and Mitigation
deposit insurance coverage for
* * * * * ‘‘noninterest-bearing transaction
■ 4. Revise the heading for subpart I to
read as set forth above. Supplement A to Appendix J accounts’’ provided by section 343 of
the Dodd-Frank Wall Street Reform and
§ 334.82 [Removed and Reserved]
* * * * * Consumer Protection Act, and related
■ 5. Remove and reserve § 334.82. Alerts, Notifications or Warnings from a definitions. Because these programs
Consumer Reporting Agency have expired by their terms, the
Subpart J—Identity Theft Red Flags * * * * * regulations implementing them are
unnecessary and obsolete.
■ 6. Amend § 334.90 by revising ■ 3. A consumer reporting agency DATES: Effective Date: The final rule is
paragraphs (a) and (b)(5) and adding provides a notice of address effective October 28, 2015.
paragraph (b)(11) to read as follows: discrepancy, as defined in 12 CFR
FOR FURTHER INFORMATION CONTACT:
§ 334.90 Duties regarding the detection,
1022.82(b). Schuyler Livingston, Economic Analyst,
prevention, and mitigation of identity theft. * * * * * Division of Insurance and Research
(a) Scope This section applies to a (202) 898–6830 or slivingston@fdic.gov;
financial institution or creditor that is PART 391—REGULATIONS Marc Steckel, Deputy Director, Division
an insured state nonmember bank, State TRANSFERRED FROM THE OFFICE OF of Resolutions and Receiverships (571)
savings association whose deposits are THRIFT SUPERVISION 858–8224 or msteckel@fdic.gov; Lisa D.
insured by the Federal Deposit Arquette, Associate Director, Division of
Insurance Corporation, insured state ■ 9. The authority citation for part 391 Risk Management Supervision (202)
licensed branch of a foreign bank, or a continues, in part, to read as follows: 898–8633 or larquette@fdic.gov; or
subsidiary of such entities (except Authority: 12 U.S.C. 1819. Gregory S. Feder, Counsel, Legal
brokers, dealers, persons providing Division (202) 898–8724 or gfeder@
insurance, investment companies, and * * * * * fdic.gov.
Subpart C also issued under 12 U.S.C.
investment advisers). SUPPLEMENTARY INFORMATION:
1462a; 1463; 1464; 1828; 1831p–1; and 1881–
(b) * * *
1884; 15 U.S.C. 1681m; 1681w. I. Background
(5) Creditor has the same meaning as
in 15 U.S.C. 1681m(e)(4). * * * * * In October 2008, acting in response to
* * * * * unprecedented disruptions to the
Subpart C—[Removed and Reserved]
(11) State savings association has the nation’s credit markets and pursuant to
same meaning as in section 3(b)(3) of section 13(c)(4)(G) of the Federal
the Federal Deposit Insurance Act, 12 ■ 10. Remove and reserve subpart C, Deposit Insurance Act (FDI Act),1 the
U.S.C. 1813(b)(3). consisting of §§ 391.20 through 391.23 Board of Directors of the Federal
and an appendix. Deposit Insurance Corporation (FDIC)
* * * * *
■ 7. Amend § 334.91 by revising Dated at Washington, DC, this 22nd day of and the Board of Governors of the
paragraph (a) and adding paragraph October, 2015. Federal Reserve System (FRB)
(b)(3) to read as follows: By order of the Board of Directors. recommended that the Secretary of the
Federal Deposit Insurance Corporation. Treasury, following consultation with
§ 334.91 Duties of card issuers regarding the President, make a determination that
change of address. Robert E. Feldman,
systemic risk existed in the nation’s
(a) Scope This section applies to an Executive Secretary. financial system. After the Treasury
issuer of a debit or credit card (card [FR Doc. 2015–27291 Filed 10–27–15; 8:45 am] Secretary’s determination of systemic
issuer) that is an insured state risk, the FDIC was authorized to take
Lhorne on DSK5TPTVN1PROD with RULES
BILLING CODE 6714–01–P
nonmember bank, state savings action or to provide assistance as
association whose deposits are insured necessary to avoid or to mitigate the
by the Federal Deposit Insurance effects of the perceived risks to the
Corporation, insured state licensed financial system. Pursuant to this
branch of a foreign bank, or a subsidiary
of such entities (except brokers, dealers, 1 12 U.S.C. 1823(c)(4)(G).
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![Federal Register / Vol. 80, No. 208 / Wednesday, October 28, 2015 / Rules and Regulations 65921
the FDIC invokes this good cause reports with Congress and the General By order of the Board of Directors.
exception to Section 553 of the APA. Accounting Office so that the Final Rule Federal Deposit Insurance Corporation.
The FDIC believes that good cause may be reviewed. Robert E. Feldman,
exists for issuing a final rule without Executive Secretary.
providing notice and an opportunity for D. Paperwork Reduction Act
[FR Doc. 2015–27294 Filed 10–27–15; 8:45 am]
public comment because such an Existing collections of information
BILLING CODE 6714–01–P
exercise is ‘‘unnecessary.’’ By the shall be discontinued or modified, as
express terms of both regulations, the appropriate, to the extent that this rule
underlying programs described in part obviates or alters any collection of
370 and § 330.16 have expired, and, information. DEPARTMENT OF TRANSPORTATION
because of that, the rescission of these E. Regulatory Flexibility Act
rules can have no effect on the banking Federal Aviation Administration
industry or the public. Moreover, the The Regulatory Flexibility Act 15
rescission of part 370, § 330.1(s), and (RFA) applies only to rules for which an 14 CFR Part 39
§ 330.16 is not ‘‘substantive’’ as the agency publishes a general notice of
[Docket No. FAA–2015–4205; Directorate
programs that these regulations proposed rulemaking pursuant to 5 Identifier 2015–NM–149–AD; Amendment
implemented have expired and they U.S.C. 553(b), or any other law.16 As 39–18301; AD 2015–21–08]
affect no substantive rights or discussed above, consistent with section
obligations. 553(b)(3)(B) of the APA, the FDIC has RIN 2120–AA64
determined for good cause that general
2. Effective Date notice and opportunity for public Airworthiness Directives; The Boeing
In addition, section 553(d)(3) of the comment would be unnecessary. Company Airplanes
APA provides that an agency, for good Therefore, pursuant to 5 U.S.C. 601(2), AGENCY: Federal Aviation
cause found and published with the the RFA does not apply. Administration (FAA), DOT.
rule, does not have to comply with the
List of Subjects ACTION: Final rule; request for
requirement that a substantive rule be
published not less than 30 days before comments.
12 CFR Part 330
its effective date. The FDIC invokes this Bank deposit insurance, Banks, SUMMARY: We are adopting a new
good cause exception because the Banking, Reporting and recordkeeping airworthiness directive (AD) for certain
rescission of part 370, § 330.1(s), and requirements, Savings and loan The Boeing Company Model 737–100,
§ 330.16 is not ‘‘substantive’’ as the associations, Trusts and trustees. –200, –200C, –300, –400, and –500
programs that these regulations series airplanes. This AD requires
implemented have expired and they 12 CFR Part 370 repetitive eddy current inspections for
affect no substantive rights or Banks, Banking, Bank deposit any cracking in the inspar upper skin,
obligations.12 insurance, Holding companies, National and related investigative and corrective
B. The Economic Growth and banks, Reporting and recordkeeping actions if necessary. This AD was
Regulatory Paperwork Reduction Act requirements, Savings associations. prompted by a report that an operator
Under section 2222 of the Economic Authority and Issuance discovered a crack in a certain section
Growth and Regulatory Paperwork of the inspar upper skin, just forward of
For the reasons set forth in the the rear spar on the right wing. We are
Reduction Act of 1996 (EGRPRA),13 the preamble above, under the authority of
FDIC is required to review all of its issuing this AD to detect and correct any
12 U.S.C. 1821, the Board of Directors cracking in the inspar upper skin and
regulations, at least once every 10 years, of the Federal Deposit Insurance
in order to identify any outdated or rear spar upper chord, which could
Corporation amends chapter III of title result in the inability of the structure to
otherwise unnecessary regulations 12 of the Code of Federal Regulations as
imposed on insured institutions. The carry limit load, or result in a fuel leak,
follows: which could prevent continued safe
FDIC completed the last comprehensive
review of its regulations under EGRPRA flight and landing.
PART 330—DEPOSIT INSURANCE
in 2006 and has commenced the next COVERAGE DATES: This AD is effective November
decennial review. Rescission of part 370 12, 2015.
and § 330.16 is consistent with the ■ 1. The authority citation for part 330 The Director of the Federal Register
required regulatory response to the continues to read as follows: approved the incorporation by reference
EGRPRA review process: To eliminate Authority: 12 U.S.C. 1813(l), 1813(m), of a certain publication listed in this AD
unnecessary regulations to the extent 1817(i), 1818(q), 1819(a)(Tenth), 1820(f), as of November 12, 2015.
such action is appropriate. 1820(g), 1821(a), 1821(d), 1822(c). The Director of the Federal Register
approved the incorporation by reference
C. Small Business Regulatory § 330.1 [Amended] of a certain other publication listed in
Enforcement Fairness Act 2. Remove and reserve § 330.1(s).
■ this AD as of April 9, 2014 (79 FR
The Office of Management and Budget 12368, March 5, 2014). We must receive
has determined that the Final Rule is § 330.16 [Removed and Reserved]
comments on this AD by December 14,
not a ‘‘major rule’’ within the meaning ■ 3. Remove and reserve § 330.16. 2015.
of the relevant sections of the Small ADDRESSES: You may send comments,
Business Regulatory Enforcement Act of PART 370—[Removed and Reserved]
using the procedures found in 14 CFR
Lhorne on DSK5TPTVN1PROD with RULES
1996 (SBREFA).14 As required by law, ■ 4. Remove and reserve part 370. 11.43 and 11.45, by any of the following
the FDIC will file the appropriate methods:
Dated at Washington, DC, this 22nd day of
12 5 October 2015. • Federal eRulemaking Portal: Go to
U.S.C. 553(d)(3).
13 12U.S.C. 3311. http://www.regulations.gov. Follow the
14 Public Law 104–121 (Mar. 29, 1996), as 15 Public Law 96–354 (Sept. 19, 1980). instructions for submitting comments.
amended by Public Law 110–28 (May 25, 2007). 16 5 U.S.C. 601(2). • Fax: 202–493–2251.
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Document Created: 2018-02-27 08:57:41
Document Modified: 2018-02-27 08:57:41
| 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 | Final rule. | |
| Dates | Effective Date: The final rule is effective October 28, 2015. | |
| Contact | Schuyler Livingston, Economic Analyst, Division of Insurance and Research (202) 898-6830 or [email protected]; Marc Steckel, Deputy Director, Division of Resolutions and Receiverships (571) 858-8224 or [email protected]; Lisa D. Arquette, Associate Director, Division of Risk Management Supervision (202) 898-8633 or [email protected]; or Gregory S. Feder, Counsel, Legal Division (202) 898-8724 or [email protected] | |
| FR Citation | 80 FR 65919 | |
| RIN Number | 3064-AE34 | |
| CFR Citation | 12
CFR
330 12 CFR 370 | |
| CFR Associated | Bank Deposit Insurance; Banks; Banking; Reporting and Recordkeeping Requirements; Savings and Loan Associations; Trusts and Trustees; Holding Companies; National Banks and Savings Associations |
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