80 FR 81162 - Community Reinvestment Act Regulations
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE CORPORATION Federal Register Volume 80, Issue 249 (December 29, 2015)
Office of the Comptroller of the Currency
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE CORPORATION
Federal Register Volume 80, Issue 249 (December 29, 2015)
| Page Range | 81162-81165 | |
| FR Document | 2015-32670 |
[Federal Register Volume 80, Number 249 (Tuesday, December 29, 2015)] [Rules and Regulations] [Pages 81162-81165] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-32670] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency 12 CFR Parts 25 and 195 [Docket ID OCC-2015-0025] RIN 1557-AE01 FEDERAL RESERVE SYSTEM 12 CFR Part 228 [Regulation BB; Docket No. R-1526] RIN 7100-AE40 FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Part 345 RIN 3064-AD90 Community Reinvestment Act Regulations AGENCY: Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve System (Board); and Federal Deposit Insurance Corporation (FDIC). ACTION: Joint final rule; technical amendment. ----------------------------------------------------------------------- SUMMARY: The OCC, the Board, and the FDIC (collectively, the Agencies) are amending their Community Reinvestment Act (CRA) regulations to adjust the asset-size thresholds used to define ``small bank'' or ``small savings association'' and ``intermediate small bank'' or ``intermediate small savings association.'' As required by the CRA regulations, the adjustment to the threshold amount is based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The Agencies also propose to make technical edits to remove obsolete references to the Office of Thrift Supervision (OTS) and update cross-references to regulations implementing certain Federal consumer financial laws in their CRA regulations. DATES: January 1, 2016. FOR FURTHER INFORMATION CONTACT: OCC: Margaret Hesse, Senior Counsel, Community and Consumer Law Division, (202) 649-6350; Priscilla Benner, Attorney, Legislative and Regulatory Activities Division, (202) 649-5490; for persons who are deaf or hard of hearing, TTY, (202) 649-5597; or Bobbie K. Kennedy, Bank Examiner, Compliance Policy Division, (202) 649-5470, Office of the Comptroller of the Currency, 400 7th Street SW., Washington, DC 20219. Board: Amal S. Patel, Senior Supervisory Consumer Financial Services Analyst, (202) 912-7879; or Nikita Pastor, Counsel, (202) 452- 3667, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW., Washington, DC 20551. FDIC: Patience R. Singleton, Senior Policy Analyst, Supervisory Policy Branch, Division of Depositor and Consumer Protection, (202) 898-6859; or Richard M. Schwartz, Counsel, Legal Division, (202) 898- 7424, Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, DC 20429. SUPPLEMENTARY INFORMATION: Background and Description of the Joint Final Rule The Agencies' CRA regulations establish CRA performance standards for small and intermediate small banks and savings associations. The CRA regulations define small and intermediate small banks and savings associations by reference to asset-size criteria expressed in dollar amounts, and they further require the Agencies to publish annual adjustments to these dollar figures based on the year-to-year change in the average of the CPI-W, not seasonally adjusted, for each twelve- month period ending in November, with rounding to the nearest million. 12 CFR 25.12(u)(2), 195.12(u)(2), 228.12(u)(2), and 345.12(u)(2). This adjustment formula was first adopted for CRA purposes by the OCC, the Board, and the FDIC on August 2, 2005, effective September 1, 2005. 70 FR 44256 (Aug. 2, 2005). The Agencies noted that the CPI-W is also used in connection with other federal laws, such as the Home Mortgage Disclosure Act. See 12 U.S.C. 2808; 12 CFR 1003.2. On March 22, 2007, and effective July 1, 2007, the former OTS, the agency then responsible for regulating savings associations, adopted an annual adjustment formula consistent with that of the other federal banking agencies in its CRA rule previously set forth at 12 CFR 563e. 72 FR 13429 (Mar. 22, 2007). Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act),\1\ and effective July 21, 2011, CRA rulemaking authority for federal and state savings associations was transferred from the OTS to the OCC, and the OCC subsequently republished, at 12 CFR 195, the CRA regulations applicable to those institutions.\2\ In addition, the Dodd-Frank Act transferred responsibility for supervision of savings and loan holding companies and their non-depository subsidiaries from the OTS to the Board and the Board subsequently amended its CRA regulation to reflect this transfer of supervisory authority.\3\ --------------------------------------------------------------------------- \1\ Pub. L. 111-203, 124 Stat. 1376 (2010). \2\ See OCC interim final rule, 76 FR 48950 (Aug. 9, 2011). \3\ See Board interim final rule, 76 FR 56508 (Sept. 13, 2011). --------------------------------------------------------------------------- The threshold for small banks and small savings associations was revised most recently in December 2014, and became effective January 1, 2015 (79 FR 77852 (Dec. 29, 2014)). The current CRA regulations provide that banks and savings associations that, as of December 31 of either of the prior two calendar years, had assets of less than $1.221 billion are small banks or small savings associations. Small banks and small savings associations with assets of at least $305 million as of December 31 of both of the prior two calendar years and less than $1.221 billion as of December 31 of either of the prior two calendar years are intermediate small banks or intermediate small savings associations. 12 CFR 25.12(u)(1), 195.12(u)(1), 228.12(u)(1), and 345.12(u)(1). This joint final rule revises these thresholds. During the period ending November 2015, the CPI-W decreased by 0.42 percent. As a result, the Agencies are revising 12 CFR 25.12(u)(1), 195.12(u)(1), 228.12(u)(1), and 345.12(u)(1) to make this annual adjustment. Beginning January 1, 2016, banks and savings associations that, as of December 31 of either of the prior two calendar years, had assets of less than $1.216 billion are small banks or small savings associations. Small banks and small savings associations with assets of at least $304 million as of December 31 of both of the prior two calendar years and less than $1.216 billion as of December 31 of either of the prior two calendar years are intermediate small banks or intermediate small savings associations. The Agencies also publish current and historical asset-size thresholds on the Web site of the Federal Financial Institutions Examination Council at http://www.ffiec.gov/cra/. [[Page 81163]] In addition, the Agencies are making technical edits to 12 CFR 25.42, 228.42, and 345.42 to remove obsolete references to the ``Office of Thrift Supervision'' and to 12 CFR 563e in the CRA rules. As explained above, Title III of the Dodd-Frank Act transferred the powers, authorities, rights, and duties of the OTS to the Agencies. Specifically, among other changes, Title III abolished the OTS; transferred rulemaking and supervisory authority over savings and loan holding companies and supervisory authority over their non-depository subsidiaries to the Board; transferred rulemaking authority over federal savings associations and state savings associations, and supervisory authority over federal savings associations, to the OCC; and transferred supervisory authority over state savings associations to the FDIC.\4\ --------------------------------------------------------------------------- \4\ See 12 U.S.C. 5412-5413. --------------------------------------------------------------------------- Further, the Agencies are updating references to certain regulations implementing Federal consumer financial laws in the CRA regulations, as Title X of the Dodd-Frank Act transferred rulemaking authority for a number of Federal consumer financial laws, including the Home Mortgage Disclosure Act (HMDA) and the Truth in Lending Act (TILA), to the Consumer Financial Protection Bureau (CFPB), effective July 21, 2011. The CFPB subsequently published an interim final rule to establish its own Regulation C to implement HMDA,\5\ and also published an interim final rule to establish its own Regulation Z to implement TILA.\6\ Accordingly, the Agencies are updating the citations in the CRA regulations \7\ to reference the CFPB's Regulation C and Regulation Z, located at 12 CFR 1003 and 12 CFR 1026, respectively. --------------------------------------------------------------------------- \5\ 12 CFR part 1003. See 76 FR 78465 (Dec. 19, 2011). \6\ 12 CFR part 1026. See 76 FR 79768 (Dec. 22, 2011). \7\ See 12 CFR 25.12(h)(2)(i), 25.12(j)(2), 25.12(l), 25.42(b)(3), 25.42(d), 25.43(b)(2), 195.12(h)(2)(i), 195.12(j)(2), 195.12(l), 195.42(b)(3), 195.42(d), 195.43(b)(2), 228.12(h)(2)(i), 228.12(j)(2), 228.12(l), 228.42(b)(3), 228.42(d), 228.43(b)(2), 345.12(h)(2)(i), 345.12(j)(2), 345.12(l), 345.42(b)(3), 345.42(d), and 345.43(b)(2). --------------------------------------------------------------------------- Administrative Procedure Act and Effective Date Under 5 U.S.C. 553(b)(B) of the Administrative Procedure Act (APA), an agency may, for good cause, find (and incorporate the finding and a brief statement of reasons therefore in the rules issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest. The amendments to the regulations to adjust the asset-size thresholds for small and intermediate small banks and savings associations result from the application of a formula established by a provision in the respective CRA regulations that the Agencies previously published for comment. See 70 FR 12148 (Mar. 11, 2005), 70 FR 44256 (Aug. 2, 2005), 71 FR 67826 (Nov. 24, 2006), and 72 FR 13429 (Mar. 22, 2007). Sections 25.12(u)(1), 195.12(u)(1), 228.12(u)(1), and 345.12(u)(1) are amended by adjusting the asset-size thresholds as provided for in Sec. Sec. 25.12(u)(2), 195.12(u)(2), 228.12(u)(2), and 345.12(u)(2). Accordingly, the Agencies' rules provide no discretion as to the computation or timing of the revisions to the asset-size criteria. Furthermore, deleting the obsolete references to the ``Office of Thrift Supervision'' and its CRA regulation and updating cross-references to reflect the transfer of rulemaking authority for many Federal consumer financial laws to the CFPB are technical and non-substantive revisions. For these reasons, the Agencies have determined that publishing a notice of proposed rulemaking and providing opportunity for public comment are unnecessary. The effective date of this joint final rule is January 1, 2016. Under 5 U.S.C. 553(d)(3) of the APA, the required publication or service of a substantive rule shall be made not less than 30 days before its effective date, except, among other things, as provided by the agency for good cause found and published with the rule. Because this rule adjusts asset-size thresholds consistent with the procedural requirements of the CRA rules, the Agencies conclude that it is not substantive within the meaning of the APA's delayed effective date provision. Moreover, the Agencies find that there is good cause for dispensing with the delayed effective date requirement, even if it applied, because their current rules already provide notice that the small and intermediate small asset-size thresholds will be adjusted as of December 31 based on twelve-month data as of the end of November each year. In addition, the technical edits to remove obsolete references to the ``Office of Thrift Supervision'' and its CRA rule in the Agencies' CRA rules and update citations to certain regulations are not substantive within the meaning of the APA's delayed effective date provision. Regulatory Flexibility Act The Regulatory Flexibility Act (RFA) does not apply to a rulemaking when a general notice of proposed rulemaking is not required. 5 U.S.C. 603 and 604. As noted previously, the Agencies have determined that it is unnecessary to publish a general notice of proposed rulemaking for this joint final rule. Accordingly, the RFA's requirements relating to an initial and final regulatory flexibility analysis do not apply. Paperwork Reduction Act of 1995 In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. 3506; 5 CFR 1320), the Agencies reviewed this final rule. No collections of information pursuant to the Paperwork Reduction Act are contained in the final rule. Unfunded Mandates Reform Act of 1995 Section 202 of the Unfunded Mandates Reform Act of 1995 (Unfunded Mandates Act), 2 U.S.C. 1532, requires the OCC to prepare a budgetary impact statement before promulgating any final rule for which a general notice of proposed rulemaking was published. As discussed above, the OCC has determined that the publication of a general notice of proposed rulemaking is unnecessary. Accordingly, this joint final rule is not subject to section 202 of the Unfunded Mandates Act. List of Subjects 12 CFR Part 25 Community development, Credit, Investments, National banks, Reporting and recordkeeping requirements. 12 CFR Part 195 Community development, Credit, Investments, Reporting and recordkeeping requirements, Savings associations. 12 CFR Part 228 Banks, Banking, Community development, Credit, Investments, Reporting and recordkeeping requirements. 12 CFR Part 345 Banks, Banking, Community development, Credit, Investments, Reporting and recordkeeping requirements. Department of the Treasury Office of the Comptroller of the Currency 12 CFR Chapter I For the reasons discussed in the preamble, 12 CFR parts 25 and 195 are amended as follows: [[Page 81164]] PART 25--COMMUNITY REINVESTMENT ACT AND INTERSTATE DEPOSIT PRODUCTION REGULATIONS 0 1. The authority citation for part 25 continues to read as follows: Authority: 12 U.S.C. 21, 22, 26, 27, 30, 36, 93a, 161, 215, 215a, 481, 1814, 1816, 1828(c), 1835a, 2901 through 2908, and 3101 through 3111. 0 2. Section 25.12 is amended: 0 a. In paragraph (h)(2)(i), by removing ``part 203'' and adding ``part 1003'' in its place; 0 b. In paragraph (j)(2), by removing ``Sec. 226.2'' and adding ``Sec. 1026.2'' in its place; 0 c. In paragraph (l), by removing ``Sec. 203.2'' and adding ``Sec. 1003.2'' in its place; and 0 d. By revising paragraph Sec. 25.12(u)(1). The revision reads as follows: Sec. 25.12 Definitions. * * * * * (u) Small bank--(1) Definition. Small bank means a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.216 billion. Intermediate small bank means a small bank with assets of at least $304 million as of December 31 of both of the prior two calendar years and less than $1.216 billion as of December 31 of either of the prior two calendar years. * * * * * Sec. 25.42 [Amended] 0 3. Section 25.42 is amended: 0 a. In paragraphs (b)(3) and (d), by removing ``part 203'' and adding ``part 1003'' in its place, wherever it appears; and 0 b. In paragraph (i), by removing ``, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision,'' and adding ``and the Federal Deposit Insurance Corporation,'' in its place, and by removing ``parts 228, 345, or 563e'' and adding ``parts 195, 228, or 345'' in its place. Sec. 25.43 [Amended] 0 4. Section 25.43 is amended in paragraph (b)(2) by removing ``part 203'' and adding ``part 1003'' in its place. PART 195--COMMUNITY REINVESTMENT 0 5. The authority citation for part 195 continues to read as follows: Authority: 12 U.S.C. 1462a, 1463, 1464, 1814, 1816, 1828(c), 2901 through 2908, and 5412(b)(2)(B). 0 6. Section 195.12 is amended: 0 a. In paragraph (h)(2)(i), by removing ``part 203'' and adding ``part 1003'' in its place; 0 b. In paragraph (j)(2), by removing ``Sec. 226.2'' and adding ``Sec. 1026.2'' in its place; 0 c. In paragraph (l), by removing ``Sec. 203.2'' and adding ``Sec. 1003.2'' in its place; and 0 d. By revising paragraph (u)(1). The revision is set forth below: Sec. 195.12 Definitions. * * * * * (u) Small savings association--(1) Definition. Small savings association means a savings association that, as of December 31 of either of the prior two calendar years, had assets of less than $1.216 billion. Intermediate small savings association means a small savings association with assets of at least $304 million as of December 31 of both of the prior two calendar years and less than $1.216 billion as of December 31 of either of the prior two calendar years. * * * * * Sec. 195.42 [Amended] 0 7. Section 195.42 is amended in paragraphs (b)(3) and (d) by removing ``part 203'' and adding ``part 1003'' in its place, wherever it appears. Sec. 195.43 [Amended] 0 8. Section 195.43 is amended in paragraph (b)(2) by removing ``part 203'' and adding ``part 1003'' in its place. Federal Reserve System 12 CFR Chapter II For the reasons set forth in the preamble, the Board of Governors of the Federal Reserve System amends part 228 of chapter II of title 12 of the Code of Federal Regulations as follows: PART 228--COMMUNITY REINVESTMENT (REGULATION BB) 0 9. The authority citation for part 228 continues to read as follows: Authority: 12 U.S.C. 321, 325, 1828(c), 1842, 1843, 1844, and 2901 et seq. 0 10. Section 228.12 is amended: 0 a. In paragraph (h)(2)(i), by removing ``part 203'' and adding ``part 1003'' in its place; 0 b. In paragraph (j)(2), by removing ``Sec. 226.2'' and adding ``Sec. 1026.2'' in its place; 0 c. In paragraph (l), by removing ``Sec. 203.2'' and adding ``Sec. 1003.2'' in its place; and 0 d. Revising paragraph (u)(1). The revision reads as follows: Sec. 228.12 Definitions. * * * * * (u) Small bank--(1) Definition. Small bank means a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.216 billion. Intermediate small bank means a small bank with assets of at least $304 million as of December 31 of both of the prior two calendar years and less than $1.216 billion as of December 31 of either of the prior two calendar years. * * * * * Sec. 228.42 [Amended] 0 11. Section 228.42 is amended: 0 a. In paragraphs (b)(3) and (d), by removing ``part 203'' and adding ``part 1003'' in its place, wherever it appears; and 0 b. In paragraph (i), by removing ``, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision,'' and adding ``and the Federal Deposit Insurance Corporation,'' in its place, and by removing ``parts 25, 345, or 563e'' and adding ``parts 25, 195, or 345'' in its place. Sec. 228.43 [Amended] 0 12. Section 228.43 is amended in paragraph (b)(2), by removing ``part 203'' and adding ``part 1003'' in its place. Federal Deposit Insurance Corporation 12 CFR Chapter III Authority and Issuance For the reasons set forth in the preamble, the Board of Directors of the Federal Deposit Insurance Corporation amends part 345 of chapter III of title 12 of the Code of Federal Regulations to read as follows: PART 345--COMMUNITY REINVESTMENT 0 13. The authority citation for part 345 continues to read as follows: Authority: 12 U.S.C. 1814-1817, 1819-1820, 1828, 1831u and 2901-2908, 3103-3104, and 3108(a). 0 14. Section 345.12 is amended: 0 a. In paragraph (h)(2)(i), by removing ``part 203'' and adding ``part 1003'' in its place; 0 b. In paragraph (j)(2), by removing ``Sec. 226.2'' and adding ``Sec. 1026.2'' in its place; 0 c. In paragraph (l), by removing ``Sec. 203.2'' and adding ``Sec. 1003.2'' in its place; and 0 d. Revising paragraph (u)(1). The revision reads as follows: Sec. 345.12 Definitions. * * * * * [[Page 81165]] (u) Small bank--(1) Definition. Small bank means a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.216 billion. Intermediate small bank means a small bank with assets of at least $304 million as of December 31 of both of the prior two calendar years and less than $1.216 billion as of December 31 of either of the prior two calendar years. * * * * * Sec. 345.42 [Amended] 0 15. Section 345.42 is amended: 0 a. In paragraphs (b)(3) and (d), by removing ``part 203'' and adding ``part 1003'' in its place, wherever it appears; and 0 b. In paragraph (i), by removing ``, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision,'' and adding ``and the Office of the Comptroller of the Currency,'' in its place, and by removing ``parts 25, 228, or 563e'' and adding ``parts 25, 195, or 228'' in its place. Sec. 345.43 [Amended] 0 16. Section 345.43 is amended in paragraph (b)(2) by removing ``part 203'' and adding ``part 1003'' in its place. Dated: December 16, 2015. Amy S. Friend, Senior Deputy Comptroller and Chief Counsel. By order of the Board of Governors of the Federal Reserve System, acting through the Secretary of the Board under delegated authority, December 16, 2015. Robert deV. Frierson, Secretary of the Board. By order of the Board of Directors. Dated at Washington, DC, this 15th day of December, 2015. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2015-32670 Filed 12-28-15; 8:45 am] BILLING CODE 4810-33-P; 6210-01-6714-01-P
![81162 Federal Register / Vol. 80, No. 249 / Tuesday, December 29, 2015 / Rules and Regulations
Signed in Washington, DC, on December Division, (202) 649–6350; Priscilla Act (Dodd-Frank Act),1 and effective
17, 2015. Benner, Attorney, Legislative and July 21, 2011, CRA rulemaking authority
Brandon Willis, Regulatory Activities Division, (202) for federal and state savings associations
Manager, Federal Crop Insurance 649–5490; for persons who are deaf or was transferred from the OTS to the
Corporation. hard of hearing, TTY, (202) 649–5597; OCC, and the OCC subsequently
[FR Doc. 2015–32308 Filed 12–28–15; 8:45 am] or Bobbie K. Kennedy, Bank Examiner, republished, at 12 CFR 195, the CRA
BILLING CODE 3410–08–P Compliance Policy Division, (202) 649– regulations applicable to those
5470, Office of the Comptroller of the institutions.2 In addition, the Dodd-
Currency, 400 7th Street SW., Frank Act transferred responsibility for
DEPARTMENT OF THE TREASURY Washington, DC 20219. supervision of savings and loan holding
Board: Amal S. Patel, Senior companies and their non-depository
Office of the Comptroller of the Supervisory Consumer Financial subsidiaries from the OTS to the Board
Currency Services Analyst, (202) 912–7879; or and the Board subsequently amended its
Nikita Pastor, Counsel, (202) 452–3667, CRA regulation to reflect this transfer of
12 CFR Parts 25 and 195 Division of Consumer and Community supervisory authority.3
Affairs, Board of Governors of the The threshold for small banks and
[Docket ID OCC–2015–0025]
Federal Reserve System, 20th Street and small savings associations was revised
RIN 1557–AE01 Constitution Avenue NW., Washington, most recently in December 2014, and
DC 20551. became effective January 1, 2015 (79 FR
FEDERAL RESERVE SYSTEM FDIC: Patience R. Singleton, Senior 77852 (Dec. 29, 2014)). The current CRA
Policy Analyst, Supervisory Policy regulations provide that banks and
12 CFR Part 228 Branch, Division of Depositor and savings associations that, as of
[Regulation BB; Docket No. R–1526] Consumer Protection, (202) 898–6859; December 31 of either of the prior two
or Richard M. Schwartz, Counsel, Legal calendar years, had assets of less than
RIN 7100–AE40 Division, (202) 898–7424, Federal $1.221 billion are small banks or small
Deposit Insurance Corporation, 550 17th savings associations. Small banks and
FEDERAL DEPOSIT INSURANCE Street NW., Washington, DC 20429. small savings associations with assets of
CORPORATION
SUPPLEMENTARY INFORMATION: at least $305 million as of December 31
of both of the prior two calendar years
12 CFR Part 345 Background and Description of the and less than $1.221 billion as of
RIN 3064–AD90 Joint Final Rule December 31 of either of the prior two
The Agencies’ CRA regulations calendar years are intermediate small
Community Reinvestment Act banks or intermediate small savings
Regulations establish CRA performance standards
for small and intermediate small banks associations. 12 CFR 25.12(u)(1),
and savings associations. The CRA 195.12(u)(1), 228.12(u)(1), and
AGENCY: Office of the Comptroller of the
regulations define small and 345.12(u)(1). This joint final rule revises
Currency, Treasury (OCC); Board of
intermediate small banks and savings these thresholds.
Governors of the Federal Reserve
System (Board); and Federal Deposit associations by reference to asset-size During the period ending November
Insurance Corporation (FDIC). criteria expressed in dollar amounts, 2015, the CPI–W decreased by 0.42
ACTION: Joint final rule; technical and they further require the Agencies to percent. As a result, the Agencies are
amendment. publish annual adjustments to these revising 12 CFR 25.12(u)(1),
dollar figures based on the year-to-year 195.12(u)(1), 228.12(u)(1), and
SUMMARY: The OCC, the Board, and the change in the average of the CPI–W, not 345.12(u)(1) to make this annual
FDIC (collectively, the Agencies) are seasonally adjusted, for each twelve- adjustment. Beginning January 1, 2016,
amending their Community month period ending in November, with banks and savings associations that, as
Reinvestment Act (CRA) regulations to rounding to the nearest million. 12 CFR of December 31 of either of the prior two
adjust the asset-size thresholds used to 25.12(u)(2), 195.12(u)(2), 228.12(u)(2), calendar years, had assets of less than
define ‘‘small bank’’ or ‘‘small savings and 345.12(u)(2). This adjustment $1.216 billion are small banks or small
association’’ and ‘‘intermediate small formula was first adopted for CRA savings associations. Small banks and
bank’’ or ‘‘intermediate small savings purposes by the OCC, the Board, and the small savings associations with assets of
association.’’ As required by the CRA FDIC on August 2, 2005, effective at least $304 million as of December 31
regulations, the adjustment to the September 1, 2005. 70 FR 44256 (Aug. of both of the prior two calendar years
threshold amount is based on the 2, 2005). The Agencies noted that the and less than $1.216 billion as of
annual percentage change in the CPI–W is also used in connection with December 31 of either of the prior two
Consumer Price Index for Urban Wage other federal laws, such as the Home calendar years are intermediate small
Earners and Clerical Workers (CPI–W). Mortgage Disclosure Act. See 12 U.S.C. banks or intermediate small savings
The Agencies also propose to make 2808; 12 CFR 1003.2. On March 22, associations. The Agencies also publish
technical edits to remove obsolete 2007, and effective July 1, 2007, the current and historical asset-size
references to the Office of Thrift former OTS, the agency then thresholds on the Web site of the
Supervision (OTS) and update cross- responsible for regulating savings Federal Financial Institutions
references to regulations implementing Examination Council at http://
jstallworth on DSK7TPTVN1PROD with RULES
associations, adopted an annual
certain Federal consumer financial laws adjustment formula consistent with that www.ffiec.gov/cra/.
in their CRA regulations. of the other federal banking agencies in
DATES: January 1, 2016. its CRA rule previously set forth at 12 1 Pub. L. 111–203, 124 Stat. 1376 (2010).
FOR FURTHER INFORMATION CONTACT:
CFR 563e. 72 FR 13429 (Mar. 22, 2007). 2 See OCC interim final rule, 76 FR 48950 (Aug.
9, 2011).
OCC: Margaret Hesse, Senior Counsel, Pursuant to the Dodd-Frank Wall 3 See Board interim final rule, 76 FR 56508 (Sept.
Community and Consumer Law Street Reform and Consumer Protection 13, 2011).
VerDate Sep<11>2014 15:24 Dec 28, 2015 Jkt 238001 PO 00000 Frm 00004 Fmt 4700 Sfmt 4700 E:\FR\FM\29DER1.SGM 29DER1](https://thefederalregister.org/doc/80_FR_81411/page/1.svg)
![81164 Federal Register / Vol. 80, No. 249 / Tuesday, December 29, 2015 / Rules and Regulations
PART 25—COMMUNITY ■ a. In paragraph (h)(2)(i), by removing § 228.12 Definitions.
REINVESTMENT ACT AND ‘‘part 203’’ and adding ‘‘part 1003’’ in its * * * * *
INTERSTATE DEPOSIT PRODUCTION place; (u) Small bank—(1) Definition. Small
REGULATIONS ■ b. In paragraph (j)(2), by removing bank means a bank that, as of December
‘‘§ 226.2’’ and adding ‘‘§ 1026.2’’ in its 31 of either of the prior two calendar
■ 1. The authority citation for part 25 place; years, had assets of less than $1.216
continues to read as follows: ■ c. In paragraph (l), by removing billion. Intermediate small bank means
Authority: 12 U.S.C. 21, 22, 26, 27, 30, 36, ‘‘§ 203.2’’ and adding ‘‘§ 1003.2’’ in its a small bank with assets of at least $304
93a, 161, 215, 215a, 481, 1814, 1816, 1828(c), place; and million as of December 31 of both of the
1835a, 2901 through 2908, and 3101 through ■ d. By revising paragraph (u)(1). prior two calendar years and less than
3111. The revision is set forth below: $1.216 billion as of December 31 of
■ 2. Section 25.12 is amended: either of the prior two calendar years.
§ 195.12 Definitions. * * * * *
■ a. In paragraph (h)(2)(i), by removing
* * * * *
‘‘part 203’’ and adding ‘‘part 1003’’ in its § 228.42 [Amended]
place; (u) Small savings association—(1)
Definition. Small savings association ■ 11. Section 228.42 is amended:
■ b. In paragraph (j)(2), by removing
means a savings association that, as of ■ a. In paragraphs (b)(3) and (d), by
‘‘§ 226.2’’ and adding ‘‘§ 1026.2’’ in its
December 31 of either of the prior two removing ‘‘part 203’’ and adding ‘‘part
place;
calendar years, had assets of less than 1003’’ in its place, wherever it appears;
■ c. In paragraph (l), by removing
$1.216 billion. Intermediate small and
‘‘§ 203.2’’ and adding ‘‘§ 1003.2’’ in its savings association means a small ■ b. In paragraph (i), by removing ‘‘, the
place; and savings association with assets of at Federal Deposit Insurance Corporation,
■ d. By revising paragraph § 25.12(u)(1). and the Office of Thrift Supervision,’’
least $304 million as of December 31 of
The revision reads as follows: both of the prior two calendar years and and adding ‘‘and the Federal Deposit
§ 25.12 Definitions. less than $1.216 billion as of December Insurance Corporation,’’ in its place,
31 of either of the prior two calendar and by removing ‘‘parts 25, 345, or
* * * * * 563e’’ and adding ‘‘parts 25, 195, or
years.
(u) Small bank—(1) Definition. Small 345’’ in its place.
bank means a bank that, as of December * * * * *
31 of either of the prior two calendar § 195.42 [Amended] § 228.43 [Amended]
years, had assets of less than $1.216 ■ 12. Section 228.43 is amended in
billion. Intermediate small bank means ■ 7. Section 195.42 is amended in
paragraphs (b)(3) and (d) by removing paragraph (b)(2), by removing ‘‘part
a small bank with assets of at least $304 203’’ and adding ‘‘part 1003’’ in its
million as of December 31 of both of the ‘‘part 203’’ and adding ‘‘part 1003’’ in its
place, wherever it appears. place.
prior two calendar years and less than
$1.216 billion as of December 31 of Federal Deposit Insurance Corporation
§ 195.43 [Amended]
either of the prior two calendar years. 12 CFR Chapter III
■ 8. Section 195.43 is amended in
* * * * *
paragraph (b)(2) by removing ‘‘part 203’’ Authority and Issuance
§ 25.42 [Amended] and adding ‘‘part 1003’’ in its place. For the reasons set forth in the
■ 3. Section 25.42 is amended: Federal Reserve System preamble, the Board of Directors of the
■ a. In paragraphs (b)(3) and (d), by Federal Deposit Insurance Corporation
12 CFR Chapter II amends part 345 of chapter III of title 12
removing ‘‘part 203’’ and adding ‘‘part
1003’’ in its place, wherever it appears; For the reasons set forth in the of the Code of Federal Regulations to
and preamble, the Board of Governors of the read as follows:
Federal Reserve System amends part
■ b. In paragraph (i), by removing ‘‘, the
228 of chapter II of title 12 of the Code PART 345—COMMUNITY
Federal Deposit Insurance Corporation, REINVESTMENT
of Federal Regulations as follows:
and the Office of Thrift Supervision,’’
and adding ‘‘and the Federal Deposit PART 228—COMMUNITY ■ 13. The authority citation for part 345
Insurance Corporation,’’ in its place, REINVESTMENT (REGULATION BB) continues to read as follows:
and by removing ‘‘parts 228, 345, or
Authority: 12 U.S.C. 1814–1817, 1819–
563e’’ and adding ‘‘parts 195, 228, or ■ 9. The authority citation for part 228 1820, 1828, 1831u and 2901–2908, 3103–
345’’ in its place. continues to read as follows: 3104, and 3108(a).
§ 25.43 [Amended] Authority: 12 U.S.C. 321, 325, 1828(c), ■ 14. Section 345.12 is amended:
1842, 1843, 1844, and 2901 et seq. ■ a. In paragraph (h)(2)(i), by removing
■ 4. Section 25.43 is amended in
■ 10. Section 228.12 is amended: ‘‘part 203’’ and adding ‘‘part 1003’’ in its
paragraph (b)(2) by removing ‘‘part 203’’
■ a. In paragraph (h)(2)(i), by removing place;
and adding ‘‘part 1003’’ in its place. ■ b. In paragraph (j)(2), by removing
‘‘part 203’’ and adding ‘‘part 1003’’ in its
PART 195—COMMUNITY place; ‘‘§ 226.2’’ and adding ‘‘§ 1026.2’’ in its
REINVESTMENT ■ b. In paragraph (j)(2), by removing
place;
■ c. In paragraph (l), by removing
jstallworth on DSK7TPTVN1PROD with RULES
‘‘§ 226.2’’ and adding ‘‘§ 1026.2’’ in its
■ 5. The authority citation for part 195 ‘‘§ 203.2’’ and adding ‘‘§ 1003.2’’ in its
place;
continues to read as follows: place; and
■ c. In paragraph (l), by removing
■ d. Revising paragraph (u)(1).
Authority: 12 U.S.C. 1462a, 1463, 1464, ‘‘§ 203.2’’ and adding ‘‘§ 1003.2’’ in its The revision reads as follows:
1814, 1816, 1828(c), 2901 through 2908, and place; and
5412(b)(2)(B). ■ d. Revising paragraph (u)(1). § 345.12 Definitions.
■ 6. Section 195.12 is amended: The revision reads as follows: * * * * *
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![Federal Register / Vol. 80, No. 249 / Tuesday, December 29, 2015 / Rules and Regulations 81165
(u) Small bank—(1) Definition. Small ACTION: Final rule. availability of this material at the FAA,
bank means a bank that, as of December call 425–227–1221. It is also available
31 of either of the prior two calendar SUMMARY: We are superseding on the Internet at http://
years, had assets of less than $1.216 Airworthiness Directive (AD) 2011–07– www.regulations.gov by searching for
billion. Intermediate small bank means 10 for certain Bombardier, Inc. Model and locating Docket No. FAA–2015–
a small bank with assets of at least $304 BD–100–1A10 (Challenger 300) 1199.
million as of December 31 of both of the airplanes. AD 2011–07–10 required
FOR FURTHER INFORMATION CONTACT:
prior two calendar years and less than revising the Airworthiness Limitations
section of the Instructions for Continued Luke Walker, Aerospace Engineer,
$1.216 billion as of December 31 of Airframe and Mechanical Systems
either of the prior two calendar years. Airworthiness; doing detailed visual
inspections; removing discrepant Branch, ANE–171, FAA, New York
* * * * * Aircraft Certification Office (ACO), 1600
material; cleaning the surfaces of the
valves, the plug of the sensing port, and Stewart Avenue, Suite 410, Westbury,
§ 345.42 [Amended]
the cabin pressure-sensing port plug; NY 11590; telephone 516–228–7363; fax
■ 15. Section 345.42 is amended: 516–794–5531.
■ a. In paragraphs (b)(3) and (d), by securing the insulation; installing a new
safety valve, and replacing certain cabin SUPPLEMENTARY INFORMATION:
removing ‘‘part 203’’ and adding ‘‘part
1003’’ in its place, wherever it appears; pressure-sensing port plugs. This new Discussion
and AD retains all requirements of AD 2011–
07–10, and requires a detailed visual We issued a notice of proposed
■ b. In paragraph (i), by removing ‘‘, the rulemaking (NPRM) to amend 14 CFR
Office of the Comptroller of the inspection of both safety valves and the
surrounding area for foreign material, part 39 to supersede AD 2011–07–10,
Currency, and the Office of Thrift Amendment 39–16647 (76 FR 17758,
Supervision,’’ and adding ‘‘and the room temperature vulcanizing (RTV)
silicone, contamination, foam on the March 31, 2011). AD 2011–07–10
Office of the Comptroller of the applied to certain Bombardier, Inc.
Currency,’’ in its place, and by removing bulkhead structure, tape or insulation,
and loose material; and corrective Model BD–100–1A10 (Challenger 300)
‘‘parts 25, 228, or 563e’’ and adding airplanes. The NPRM published in the
‘‘parts 25, 195, or 228’’ in its place. actions if necessary. This AD was
prompted by reports of in-flight loss of Federal Register on April 15, 2015 (80
§ 345.43 [Amended] cabin pressurization that was attributed FR 20181) (‘‘the NPRM’’).
Transport Canada Civil Aviation
■ 16. Section 345.43 is amended in to partial blockage of a safety valve
(TCCA), which is the aviation authority
paragraph (b)(2) by removing ‘‘part 203’’ cabin pressure-sensing port in
for Canada, has issued Canadian
and adding ‘‘part 1003’’ in its place. conjunction with a failed safety valve
Airworthiness Directive CF–2010–06R1,
manometric capsule. We are issuing this
Dated: December 16, 2015. dated August 8, 2013 (referred to after
AD to detect and correct blockage of a
Amy S. Friend, this as the Mandatory Continuing
safety valve cabin pressure-sensing port,
Senior Deputy Comptroller and Chief Airworthiness Information, or ‘‘the
which could result in loss of cabin
Counsel. MCAI’’), to correct an unsafe condition
pressure.
By order of the Board of Governors of the for certain Bombardier, Inc. Model BD–
Federal Reserve System, acting through the DATES: This AD becomes effective 100–1A10 (Challenger 300) airplanes.
Secretary of the Board under delegated February 2, 2016. The MCAI states:
authority, December 16, 2015. The Director of the Federal Register Investigation of a high altitude loss of
Robert deV. Frierson, approved the incorporation by reference cabin pressurization on a BD–100–1A10
Secretary of the Board.
of a certain publication listed in this AD aeroplane determined that it was caused by
as of February 2, 2016. a partial blockage of a safety valve cabin
By order of the Board of Directors. The Director of the Federal Register pressure-sensing port, in conjunction with a
Dated at Washington, DC, this 15th day of approved the incorporation by reference dormant failure/leakage of the safety valve
December, 2015. of certain other publications listed in manometric capsule. The blockage, caused by
Federal Deposit Insurance Corporation. this AD as of May 5, 2011 (76 FR 17758, accumulation of lint/dust on the grid of the
Robert E. Feldman, port plug, did not allow sufficient airflow
March 31, 2011).
through the cabin pressure-sensing port to
Executive Secretary. ADDRESSES: You may examine the AD compensate for the rate of leakage from the
[FR Doc. 2015–32670 Filed 12–28–15; 8:45 am] docket on the Internet at http:// manometric capsule, resulting in the opening
BILLING CODE 4810–33–P; 6210–01–6714–01–P www.regulations.gov/ of the safety valve. It was also determined
#!docketDetail;D=FAA-2015-1199; or in that failure of the manometric capsule alone
person at the Docket Management would not result in the opening of the safety
Facility, U.S. Department of valve.
DEPARTMENT OF TRANSPORTATION The original issue of this [Canadian] AD
Transportation, Docket Operations, M–
mandated a revision of the maintenance
Federal Aviation Administration 30, West Building Ground Floor, Room schedule, the cleaning of the safety valves,
W12–140, 1200 New Jersey Avenue SE., the removal of material from the area
14 CFR Part 39 Washington, DC. surrounding the safety valves and the
[Docket No. FAA–2015–1199; Directorate For service information identified in modification of the safety valves with a
Identifier 2014–NM–008–AD; Amendment this final rule, contact Bombardier, Inc., gridless cabin pressure-sensing port plug.
39–18351; AD 2015–26–03] 400 Côte-Vertu Road West, Dorval, Since the original issue of this [Canadian]
Québec H4S 1Y9, Canada; telephone AD, there have been two additional reported
jstallworth on DSK7TPTVN1PROD with RULES
RIN 2120–AA64 514–855–5000; fax 514–855–7401; email events of in-flight loss of cabin pressurization
that were attributed to partial blockage of a
Airworthiness Directives; Bombardier, thd.crj@aero.bombardier.com; Internet
safety valve cabin pressure-sensing port in
Inc. Airplanes http://www.bombardier.com. You may conjunction with a failed safety valve
view this referenced service information manometric capsule.
AGENCY: Federal Aviation at the FAA, Transport Airplane Bombardier Aerospace has determined that
Administration (FAA), Department of Directorate, 1601 Lind Avenue SW., aeroplanes with a particular interior
Transportation (DOT). Renton, WA. For information on the installation require improved instructions to
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Document Created: 2015-12-29 10:15:08
Document Modified: 2015-12-29 10:15:08
| 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 | Joint final rule; technical amendment. | |
| Dates | January 1, 2016. | |
| Contact | OCC: Margaret Hesse, Senior Counsel, Community and Consumer Law Division, (202) 649-6350; Priscilla Benner, Attorney, Legislative and Regulatory Activities Division, (202) 649-5490; for persons who are deaf or hard of hearing, TTY, (202) 649-5597; or Bobbie K. Kennedy, Bank Examiner, Compliance Policy Division, (202) 649-5470, Office of the Comptroller of the Currency, 400 7th Street SW., Washington, DC 20219. | |
| FR Citation | 80 FR 81162 | |
| RIN Number | 1557-AE01, 7100-AE40 and 3064-AD90 | |
| CFR Citation | 12
CFR
195 12 CFR 228 12 CFR 25 12 CFR 345 | |
| CFR Associated | Savings Associations; Banks; Banking; Community Development; Credit; Investments; National Banks and Reporting and Recordkeeping Requirements |
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