82 FR 40443 - Semiannual Regulatory Flexibility Agenda
FEDERAL RESERVE SYSTEM Federal Register Volume 82, Issue 163 (August 24, 2017)
Federal Register Volume 82, Issue 163 (August 24, 2017)
| Page Range | 40443-40445 | |
| FR Document | 2017-17013 |
[Federal Register Volume 82, Number 163 (Thursday, August 24, 2017)] [Unknown Section] [Pages 40443-40445] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-17013] [[Page 40443]] Vol. 82 Thursday, No. 163 August 24, 2017 Part XXVI Federal Reserve System ----------------------------------------------------------------------- Semiannual Regulatory Agenda Federal Register / Vol. 82 , No. 163 / Thursday, August 24, 2017 / Unified Agenda [[Page 40444]] ----------------------------------------------------------------------- FEDERAL RESERVE SYSTEM 12 CFR Ch. II Semiannual Regulatory Flexibility Agenda AGENCY: Board of Governors of the Federal Reserve System. ACTION: Semiannual regulatory agenda. ----------------------------------------------------------------------- SUMMARY: The Board is issuing this agenda under the Regulatory Flexibility Act and the Board's Statement of Policy Regarding Expanded Rulemaking Procedures. The Board anticipates having under consideration regulatory matters as indicated below during the period June 1, 2017, through October 31, 2017. The next agenda will be published in fall 2017. DATES: Comments about the form or content of the agenda may be submitted any time during the next 6 months. ADDRESSES: Comments should be addressed to Ann E. Misback, Secretary of the Board, Board of Governors of the Federal Reserve System, Washington, DC 20551. FOR FURTHER INFORMATION CONTACT: A staff contact for each item is indicated with the regulatory description below. SUPPLEMENTARY INFORMATION: The Board is publishing its spring 2017 agenda as part of the Spring 2017 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget under Executive Order 12866. The agenda also identifies rules the Board has selected for review under section 610(c) of the Regulatory Flexibility Act, and public comment is invited on those entries. The complete Unified Agenda will be available to the public at the following Web site: www.reginfo.gov. Participation by the Board in the Unified Agenda is on a voluntary basis. The Board's agenda is divided into four sections. The first, Pre- rule Stage, reports on matters the Board is considering for future rulemaking. The second section, Proposed Rule Stage, reports on matters the Board may consider for public comment during the next 6 months. The third section, Final Rule Stage, reports on matters that have been proposed and are under Board consideration. And a fourth section, Completed Actions, reports on regulatory matters the Board has completed or is not expected to consider further. A dot () preceding an entry indicates a new matter that was not a part of the Board's previous agenda and which the Board has not completed. Yao-Chin Chao, Assistant Secretary of the Board. Federal Reserve System--Proposed Rule Stage ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 375....................... Regulation CC-- 7100-AD68 Availability of Funds and Collection of Checks (Docket No: R-1409). ------------------------------------------------------------------------ Federal Reserve System--Final Rule Stage ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 376....................... Regulation LL--Savings and 7100-AD80 Loan Holding Companies and Regulation MM--Mutual Holding Companies (Docket No: R-1429). ------------------------------------------------------------------------ FEDERAL RESERVE SYSTEM (FRS) Proposed Rule Stage 375. Regulation CC--Availability of Funds and Collection of Checks (Docket No: R-1409) Legal Authority: 12 U.S.C. 4001 to 4010; 12 U.S.C. 5001 to 5018 Abstract: The Board of Governors of the Federal Reserve System (the Board) proposed amendments to Regulation CC to facilitate the banking industry's ongoing transition to fully electronic interbank check collection and return, including proposed amendments to subpart C to condition a depositary bank's right of expeditious return on the depositary bank agreeing to accept returned checks electronically, either directly or indirectly, from the paying bank. The Board also proposed amendments to subpart B, the funds availability schedule provisions to reflect the fact that there are no longer any non-local checks. The Board proposed to revise the model forms in appendix C that banks may use in disclosing their funds availability policies to their customers and to update the preemption determinations in appendix F. Finally, the Board requested comment on whether it should consider future changes to the regulation to improve the check collection system, such as decreasing the time afforded to a paying bank to decide whether to pay a check in order to reduce the risk to a depositary bank of needing to make funds available for withdrawal before learning whether a deposited check has been returned unpaid. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ Board Requested Comment............. 03/25/11 76 FR 16862 Board Requested Comment on Revised 02/04/14 79 FR 6673 Proposal. Board Expects Further Action on 06/00/17 ....................... Subpart C. Board Expects Further Action on 06/00/17 ....................... Subpart B. ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Clinton Chen, Attorney, Federal Reserve System, Legal Division, Washington, DC 20551, Phone: 202 452-3952. RIN: 7100-AD68 FEDERAL RESERVE SYSTEM (FRS) Final Rule Stage 376. Regulation LL--Savings and Loan Holding Companies and Regulation MM--Mutual Holding Companies (Docket No: R-1429) Legal Authority: 5 U.S.C. 552; 5 U.S.C. 559; 5 U.S.C. 1813; 5 U.S.C. 1817; 5 U.S.C. 1828 Abstract: The Dodd-Frank Act Wall Street Reform and Consumer Protection Act (the Act) transferred responsibility [[Page 40445]] for supervision of Savings and Loan Holding Companies (SLHCs) and their non-depository subsidiaries from the Office of Thrift Supervision (OTS) to the Board of Governors of the Federal Reserve System (the Board), on July 21, 2011. The Act also transferred supervisory functions related to Federal savings associations and State savings associations to the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), respectively. The Board on August 12, 2011, approved an interim final rule for SLHCs, including a request for public comment. The interim final rule transferred from the OTS to the Board the regulations necessary for the Board to supervise SLHCs, with certain technical and substantive modifications. The interim final rule has three components: (1) New Regulation LL (part 238), which sets forth regulations generally governing SLHCs; (2) new Regulation MM (part 239), which sets forth regulations governing SLHCs in mutual form; and (3) technical amendments to existing Board regulations necessary to accommodate the transfer of supervisory authority for SLHCs from the OTS to the Board. The structure of interim final Regulation LL closely follows that of the Board's Regulation Y, which governs bank holding companies, in order to provide an overall structure to rules that were previously found in disparate locations. In many instances, interim final Regulation LL incorporated OTS regulations with only technical modifications to account for the shift in supervisory responsibility from the OTS to the Board. Interim final Regulation LL also reflects statutory changes made by the Dodd-Frank Act with respect to SLHCs, and incorporates Board precedent and practices with respect to applications processing procedures and control issues, among other matters. Interim final Regulation MM organized existing OTS regulations governing SLHCs in mutual form (MHCs) and their subsidiary holding companies into a single part of the Board's regulations. In many instances, interim final Regulation MM incorporated OTS regulations with only technical modifications to account for the shift in supervisory responsibility from the OTS to the Board. Interim final Regulation MM also reflects statutory changes made by the Dodd-Frank Act with respect to MHCs. The interim final rule also made technical amendments to Board rules to facilitate supervision of SLHCs, including to rules implementing Community Reinvestment Act requirements and to Board procedural and administrative rules. In addition, the Board made technical amendments to implement section 312(b)(2)(A) of the Act, which transfers to the Board all rulemaking authority under section 11 of the Home Owner's Loan Act relating to transactions with affiliates and extensions of credit to executive officers, directors, and principal shareholders. These amendments include revisions to parts 215 (Insider Transactions) and part 223 (Transactions with Affiliates) of Board regulations. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ Board Requested Comment............. 09/13/11 76 FR 56508 Board Expects Further Action........ 12/00/17 ....................... ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: C. Tate Wilson, Counsel, Federal Reserve System, Legal Division, Washington, DC 20551, Phone: 202 452-3696. Claudia Von Pervieux, Counsel, Federal Reserve System, Legal Division, Washington, DC 20551, Phone: 202 452-2552. RIN: 7100-AD80 [FR Doc. 2017-17013 Filed 8-23-17; 8:45 am] BILLING CODE 6210-01-P
![Federal Register / Vol. 82, No. 163 / Thursday, August 24, 2017 / Unified Agenda 40445
for supervision of Savings and Loan provide an overall structure to rules that to implement section 312(b)(2)(A) of the
Holding Companies (SLHCs) and their were previously found in disparate Act, which transfers to the Board all
non-depository subsidiaries from the locations. In many instances, interim rulemaking authority under section 11
Office of Thrift Supervision (OTS) to the final Regulation LL incorporated OTS of the Home Owner’s Loan Act relating
Board of Governors of the Federal regulations with only technical to transactions with affiliates and
Reserve System (the Board), on July 21, modifications to account for the shift in extensions of credit to executive
2011. The Act also transferred supervisory responsibility from the OTS officers, directors, and principal
supervisory functions related to Federal to the Board. Interim final Regulation LL shareholders. These amendments
savings associations and State savings also reflects statutory changes made by include revisions to parts 215 (Insider
associations to the Office of the the Dodd-Frank Act with respect to Transactions) and part 223
Comptroller of the Currency (OCC) and SLHCs, and incorporates Board (Transactions with Affiliates) of Board
the Federal Deposit Insurance precedent and practices with respect to regulations.
Corporation (FDIC), respectively. The applications processing procedures and Timetable:
Board on August 12, 2011, approved an control issues, among other matters.
interim final rule for SLHCs, including Interim final Regulation MM organized Action Date FR Cite
a request for public comment. The existing OTS regulations governing
interim final rule transferred from the SLHCs in mutual form (MHCs) and their Board Requested 09/13/11 76 FR 56508
OTS to the Board the regulations subsidiary holding companies into a Comment.
necessary for the Board to supervise single part of the Board’s regulations. In Board Expects 12/00/17
SLHCs, with certain technical and many instances, interim final Regulation Further Action.
substantive modifications. The interim MM incorporated OTS regulations with
final rule has three components: (1) only technical modifications to account Regulatory Flexibility Analysis
New Regulation LL (part 238), which for the shift in supervisory Required: Yes.
sets forth regulations generally responsibility from the OTS to the Agency Contact: C. Tate Wilson,
governing SLHCs; (2) new Regulation Board. Interim final Regulation MM also Counsel, Federal Reserve System, Legal
MM (part 239), which sets forth reflects statutory changes made by the Division, Washington, DC 20551, Phone:
regulations governing SLHCs in mutual Dodd-Frank Act with respect to MHCs. 202 452–3696.
form; and (3) technical amendments to The interim final rule also made Claudia Von Pervieux, Counsel,
existing Board regulations necessary to technical amendments to Board rules to Federal Reserve System, Legal Division,
accommodate the transfer of supervisory facilitate supervision of SLHCs, Washington, DC 20551, Phone: 202 452–
authority for SLHCs from the OTS to the including to rules implementing 2552.
Board. The structure of interim final Community Reinvestment Act
Regulation LL closely follows that of the requirements and to Board procedural RIN: 7100–AD80
Board’s Regulation Y, which governs and administrative rules. In addition, [FR Doc. 2017–17013 Filed 8–23–17; 8:45 am]
bank holding companies, in order to the Board made technical amendments BILLING CODE 6210–01–P
mstockstill on DSK30JT082PROD with PROPOSAL26
VerDate Sep<11>2014 18:33 Aug 23, 2017 Jkt 241001 PO 00000 Frm 00003 Fmt 4701 Sfmt 9990 E:\FR\FM\24AUP26.SGM 24AUP26](https://thefederalregister.org/doc/82_FR_40606/page/3.svg)
Document Created: 2018-10-24 12:35:50
Document Modified: 2018-10-24 12:35:50
| 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 | Unknown Section | |
| Action | Semiannual regulatory agenda. | |
| Dates | Comments about the form or content of the agenda may be submitted any time during the next 6 months. | |
| Contact | A staff contact for each item is indicated with the regulatory description below. | |
| FR Citation | 82 FR 40443 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR