82 FR 47083 - Removal of Office of Thrift Supervision Regulations

DEPARTMENT OF THE TREASURY
Office of the Secretary

Federal Register Volume 82, Issue 195 (October 11, 2017)

Page Range		47083-47084
FR Document		2017-21904

The Department of the Treasury is removing chapter V of title 12, Code of Federal Regulations (CFR), which contains regulations of the former Office of Thrift Supervision (OTS). The OTS, a Bureau of the Department of the Treasury, was abolished effective October 19, 2011, and its rulemaking authority and operative rules were transferred to other agencies pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. Because those agencies have issued regulations that supersede chapter V, chapter V is no longer necessary.

Federal Register, Volume 82 Issue 195 (Wednesday, October 11, 2017)

[Federal Register Volume 82, Number 195 (Wednesday, October 11, 2017)]
[Rules and Regulations]
[Pages 47083-47084]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-21904]


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DEPARTMENT OF THE TREASURY

Office of the Secretary

12 CFR Chapter V


Removal of Office of Thrift Supervision Regulations

AGENCY: Department of the Treasury.

ACTION: Final rule.

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SUMMARY: The Department of the Treasury is removing chapter V of title 
12, Code of Federal Regulations (CFR), which contains regulations of 
the former Office of Thrift Supervision (OTS). The OTS, a Bureau of the 
Department of the Treasury, was abolished effective October 19, 2011, 
and its rulemaking authority and operative rules were transferred to 
other agencies pursuant to the Dodd-Frank Wall Street Reform and 
Consumer Protection Act. Because those agencies have issued regulations 
that supersede chapter V, chapter V is no longer necessary.

DATES: Effective October 11, 2018.

FOR FURTHER INFORMATION CONTACT: Heidi Cohen, Senior Counsel for 
Regulatory Affairs, (202) 622-1142, Office of the Assistant General 
Counsel for General Law, Ethics & Regulation, Department of the 
Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20220.

SUPPLEMENTARY INFORMATION: 

Description of Final Rule

    The OTS, a Bureau of the Department of the Treasury, was abolished 
by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-
Frank Act or Act) \1\ on October 19, 2011. Titles III and X of the Act 
transferred the powers, authorities, rights, and duties of the OTS to 
the Office of the Comptroller of the Currency, the Federal Deposit 
Insurance Corporation, the Board of Governors of the Federal Reserve 
System, and the Consumer Financial Protection Bureau (collectively, the 
Agencies), effective July 21, 2011.
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    \1\ Public Law 111-203, 124 Stat. 1376 (2010).
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    Chapter V of title 12 of the CFR sets out the OTS regulations. 
Several parts of chapter V relate to the administrative functions of 
the OTS. Because the OTS was abolished, those parts are inoperative. 
The remaining parts of chapter V concern the supervision and 
examination of savings associations and savings and loan holding 
companies. Since the abolishment of the OTS, the Agencies have 
republished those OTS regulations they will enforce in their own 
chapters of title 12.\2\
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    \2\ See, e.g., 76 FR 48950 (August 9, 2011) (republishing 
regulations relating to savings associations in chapter I of title 
12); 76 FR 47652 (August 5, 2011) (republishing regulations relating 
to State savings associations in chapter III of title 12); 76 FR 
56508 (September 13, 2011) (republishing regulations relating to 
savings and loan holding companies in chapter II of title 12); 76 FR 
44226 (July 22, 2011) (republishing regulations relating to the 
Alternative Mortgage Transaction Parity Act and the Truth in Lending 
Act in chapter X of title 12); 76 FR 78487 (December 19, 2011) 
(republishing regulations relating to the S.A.F.E. Mortgage 
Licensing Act in chapter X of title 12); 76 FR 79025 (December 21, 
2011) (republishing regulations relating to privacy of consumer 
financial information in chapter X of title 12); and 76 FR 79308 
(December 21, 2011) (republishing regulations relating to the Fair 
Credit Reporting Act in chapter X of title 12).
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    In order to eliminate the confusion that may arise from having 
inoperative and superseded regulations of an abolished agency published 
in the CFR, the Department of the Treasury is removing chapter V of 
title 12 of the CFR.

Notice and Comment

    The Administrative Procedure Act (APA) generally requires public 
notice and an opportunity to comment before an agency issues a final 
rule.\3\ However, notice and comment are not required before issuing a 
final rule if the rulemaking relates to agency organization, procedure, 
or practice or if an agency, for good cause, finds that ``notice and 
public procedure thereon are impracticable, unnecessary, or contrary to 
the public interest.''
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    \3\ 5 U.S.C. 553(b)(B),
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    The Department of the Treasury finds that notice and comment are 
not required with respect to the removal of the parts of chapter V that 
govern the organization and administrative functions of the OTS because 
those

[[Page 47084]]

parts have been inoperative since the OTS was abolished in 2011.
    Furthermore, with respect to the removal of the parts of chapter V 
that govern savings associations and savings and loan holding 
companies, the Department of the Treasury finds that notice and comment 
under the APA are neither necessary nor in the public interest. As 
discussed above, titles III and X of the Dodd-Frank Act transferred the 
powers, authorities, rights, and duties of the OTS to the Agencies on 
July 21, 2011 and abolished the OTS on October 19, 2011. Since that 
time, the Agencies have issued rules that supersede the OTS regulations 
relating to savings associations and savings and loan holding 
companies. This final rule does not make any substantive changes to the 
regulations currently applicable to savings associations and savings 
and loan associations and does not substantively affect these regulated 
entities or the public. It simply removes obsolete provisions that are 
likely to be a source of confusion. For these reasons, advance notice 
and comment under the APA are unnecessary and not in the public 
interest.

Regulatory Flexibility Act Analysis

    The Regulatory Flexibility Act \4\ (RFA) applies only to rules for 
which an agency publishes a general notice of proposed rulemaking 
pursuant to 5 U.S.C. 553(b). Pursuant to the APA at 5 U.S.C. 553(b)(B), 
general notice and an opportunity for public comment are not required 
prior to the issuance of a final rule when an agency, for good cause, 
finds that ``notice and public procedure thereon are impracticable, 
unnecessary, or contrary to the public interest.'' As discussed above, 
the Department of the Treasury has determined for good cause that the 
APA does not require notice and public comment on this final rule and, 
therefore, it is not publishing a notice of proposed rulemaking. Thus, 
the RFA, pursuant 5 U.S.C. 601(2), does not apply to this final rule.
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    \4\ (Pub. L. 96-354, Sept. 19, 1980).
---------------------------------------------------------------------------

Unfunded Mandates Reform Act

    Section 202 of the Unfunded Mandates Reform Act of 1995 requires 
that an agency prepare a budgetary impact statement before promulgating 
any rule likely to result in a Federal mandate that may result in the 
expenditure by state, local, and tribal governments, in the aggregate, 
or by the private sector, of $100 million or more in any one year, 
adjusted for inflation.\5\ Because this final rule removes inoperative 
and superseded regulations, the Department of the Treasury has 
determined that there is no Federal mandate imposed by this rulemaking.
---------------------------------------------------------------------------

    \5\ Public Law 104-4 (2 U.S.C. 1532).
---------------------------------------------------------------------------

Executive Order 12866

    This rule is not a significant regulatory action under Executive 
Order 12866, Regulatory Planning and Review.

12 CFR Chapter V [Removed]

0
For the reasons set forth in the preamble and pursuant to titles III 
and X of the Dodd-Frank Act, amend title 12 of the Code of Federal 
Regulations by removing chapter V.

    Dated: October 4, 2017.
Kody H. Kinsley,
Assistant Secretary for Management.
[FR Doc. 2017-21904 Filed 10-10-17; 8:45 am]
BILLING CODE 4810-25-P

47083

Rules and Regulations Federal Register
Vol. 82, No. 195

Wednesday, October 11, 2017

This section of the FEDERAL REGISTER Suite 2310, San Francisco, California Insurance Corporation, the Board of
contains regulatory documents having general 94105–1831 Facsimile No.: (415) 904– Governors of the Federal Reserve
applicability and legal effect, most of which 0580’’ and adding, in its place, ‘‘1301 System, and the Consumer Financial
are keyed to and codified in the Code of Clay Street, Suite 1380N, Oakland, Protection Bureau (collectively, the
Federal Regulations, which is published under California 94612–5217, Facsimile No.: Agencies), effective July 21, 2011.
50 titles pursuant to 44 U.S.C. 1510. Chapter V of title 12 of the CFR sets
(510) 273–7136.’’
The Code of Federal Regulations is sold by out the OTS regulations. Several parts of
Jennifer Everling, chapter V relate to the administrative
the Superintendent of Documents.
Acting Clerk of the Board. functions of the OTS. Because the OTS
[FR Doc. 2017–21890 Filed 10–10–17; 8:45 am] was abolished, those parts are
MERIT SYSTEMS PROTECTION BILLING CODE 7400–01–P inoperative. The remaining parts of
BOARD chapter V concern the supervision and
examination of savings associations and
5 CFR Part 1201 DEPARTMENT OF THE TREASURY savings and loan holding companies.
Since the abolishment of the OTS, the
Practices and Procedures Office of the Secretary Agencies have republished those OTS
AGENCY: Merit Systems Protection regulations they will enforce in their
Board. 12 CFR Chapter V own chapters of title 12.2
ACTION: Final rule. In order to eliminate the confusion
Removal of Office of Thrift Supervision that may arise from having inoperative
SUMMARY: The Merit Systems Protection Regulations and superseded regulations of an
Board (MSPB or the Board) is amending AGENCY: Department of the Treasury. abolished agency published in the CFR,
its rules of practice and procedure in the Department of the Treasury is
ACTION: Final rule.
this part to reflect the relocation of its removing chapter V of title 12 of the
Western Regional Office. SUMMARY: The Department of the CFR.
DATES: Effective Date: October 16, 2017. Treasury is removing chapter V of title Notice and Comment
FOR FURTHER INFORMATION CONTACT: 12, Code of Federal Regulations (CFR),
which contains regulations of the former The Administrative Procedure Act
Jennifer Everling, Acting Clerk of the (APA) generally requires public notice
Board, Merit Systems Protection Board, Office of Thrift Supervision (OTS). The
OTS, a Bureau of the Department of the and an opportunity to comment before
1615 M Street NW., Washington, DC an agency issues a final rule.3 However,
20419; phone: (202) 653–7200; fax: (202) Treasury, was abolished effective
October 19, 2011, and its rulemaking notice and comment are not required
653–7130; or email: mspb@mspb.gov. before issuing a final rule if the
SUPPLEMENTARY INFORMATION: On
authority and operative rules were
transferred to other agencies pursuant to rulemaking relates to agency
October 13, 2017, MSPB will relocate its organization, procedure, or practice or if
Western Regional Office from 201 the Dodd-Frank Wall Street Reform and
an agency, for good cause, finds that
Mission Street, San Francisco, CA, to Consumer Protection Act. Because those
‘‘notice and public procedure thereon
1301 Clay Street, Oakland, CA. agencies have issued regulations that
are impracticable, unnecessary, or
Appendix II of this part is amended to supersede chapter V, chapter V is no
contrary to the public interest.’’
show the new address. The facsimile longer necessary. The Department of the Treasury finds
number is changing to (510) 273–7136. DATES: Effective October 11, 2018. that notice and comment are not
The geographical areas served by the FOR FURTHER INFORMATION CONTACT: required with respect to the removal of
Western Regional Office are unchanged. Heidi Cohen, Senior Counsel for the parts of chapter V that govern the
The Board is publishing this as a final Regulatory Affairs, (202) 622–1142, organization and administrative
rule pursuant to 5 U.S.C. 1204(h). Office of the Assistant General Counsel functions of the OTS because those
for General Law, Ethics & Regulation,
List of Subjects in 5 CFR Part 1201 Department of the Treasury, 1500 2 See, e.g., 76 FR 48950 (August 9, 2011)

Administrative practice and Pennsylvania Avenue NW., Washington, (republishing regulations relating to savings
associations in chapter I of title 12); 76 FR 47652
procedure. DC 20220. (August 5, 2011) (republishing regulations relating
Accordingly, the Board amends 5 CFR SUPPLEMENTARY INFORMATION: to State savings associations in chapter III of title
part 1201 as follows: 12); 76 FR 56508 (September 13, 2011)
Description of Final Rule (republishing regulations relating to savings and
loan holding companies in chapter II of title 12); 76
PART 1201—PRACTICES AND The OTS, a Bureau of the Department FR 44226 (July 22, 2011) (republishing regulations
PROCEDURES of the Treasury, was abolished by the relating to the Alternative Mortgage Transaction
Dodd-Frank Wall Street Reform and Parity Act and the Truth in Lending Act in chapter
■ 1. The authority citation for part 1201 Consumer Protection Act (Dodd-Frank X of title 12); 76 FR 78487 (December 19, 2011)
continues to read as follows: (republishing regulations relating to the S.A.F.E.
ethrower on DSK3G9T082PROD with RULES

Act or Act) 1 on October 19, 2011. Titles Mortgage Licensing Act in chapter X of title 12); 76
Authority: 5 U.S.C. 1204, 1305, and 7701, III and X of the Act transferred the FR 79025 (December 21, 2011) (republishing
and 38 U.S.C. 4331, unless otherwise noted. powers, authorities, rights, and duties of regulations relating to privacy of consumer
the OTS to the Office of the Comptroller financial information in chapter X of title 12); and
Appendix II to Part 1201—[Amended] 76 FR 79308 (December 21, 2011) (republishing
of the Currency, the Federal Deposit regulations relating to the Fair Credit Reporting Act
■ 2. Amend Appendix II to part 1201 in in chapter X of title 12).
item 5 by removing ‘‘201 Mission Street, 1 Public Law 111–203, 124 Stat. 1376 (2010). 3 5 U.S.C. 553(b)(B),

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47084 Federal Register / Vol. 82, No. 195 / Wednesday, October 11, 2017 / Rules and Regulations

parts have been inoperative since the the Department of the Treasury has Airbus, Airworthiness Office—EIAS, 1
OTS was abolished in 2011. determined that there is no Federal Rond Point Maurice Bellonte, 31707
Furthermore, with respect to the mandate imposed by this rulemaking. Blagnac Cedex, France; telephone +33 5
removal of the parts of chapter V that 61 93 36 96; fax +33 5 61 93 44 51; email
govern savings associations and savings Executive Order 12866
account.airworth-eas@airbus.com;
and loan holding companies, the This rule is not a significant Internet http://www.airbus.com. You
Department of the Treasury finds that regulatory action under Executive Order may view this referenced service
notice and comment under the APA are 12866, Regulatory Planning and Review. information at the FAA, Transport
neither necessary nor in the public Standards Branch, 1601 Lind Avenue
12 CFR Chapter V [Removed]
interest. As discussed above, titles III SW., Renton, WA. For information on
and X of the Dodd-Frank Act transferred ■ For the reasons set forth in the the availability of this material at the
the powers, authorities, rights, and preamble and pursuant to titles III and FAA, call 425–227–1221. It is also
duties of the OTS to the Agencies on X of the Dodd-Frank Act, amend title 12 available on the Internet at http://
July 21, 2011 and abolished the OTS on of the Code of Federal Regulations by www.regulations.gov by searching for
October 19, 2011. Since that time, the removing chapter V. and locating Docket No. FAA–2017–
Agencies have issued rules that Dated: October 4, 2017. 0624.
supersede the OTS regulations relating Kody H. Kinsley,
to savings associations and savings and Examining the AD Docket
Assistant Secretary for Management.
loan holding companies. This final rule You may examine the AD docket on
[FR Doc. 2017–21904 Filed 10–10–17; 8:45 am]
does not make any substantive changes the Internet at http://
BILLING CODE 4810–25–P
to the regulations currently applicable www.regulations.gov by searching for
to savings associations and savings and and locating Docket No. FAA–2017–
loan associations and does not 0624; or in person at the Docket
substantively affect these regulated DEPARTMENT OF TRANSPORTATION Management Facility between 9 a.m.
entities or the public. It simply removes and 5 p.m., Monday through Friday,
obsolete provisions that are likely to be Federal Aviation Administration
except Federal holidays. The AD docket
a source of confusion. For these reasons, contains this AD, the regulatory
advance notice and comment under the 14 CFR Part 39
evaluation, any comments received, and
APA are unnecessary and not in the [Docket No. FAA–2017–0624; Product other information. The street address for
public interest. Identifier 2016–NM–135–AD; Amendment the Docket Office (telephone 800–647–
39–19067; AD 2017–20–10] 5527) is Docket Management Facility,
Regulatory Flexibility Act Analysis
RIN 2120–AA64 U.S. Department of Transportation,
The Regulatory Flexibility Act 4 (RFA) Docket Operations, M–30, West
applies only to rules for which an Building Ground Floor, Room W12–140,
Airworthiness Directives; Airbus
agency publishes a general notice of 1200 New Jersey Avenue SE.,
Airplanes
proposed rulemaking pursuant to 5 Washington, DC 20590.
U.S.C. 553(b). Pursuant to the APA at 5 AGENCY: Federal Aviation FOR FURTHER INFORMATION CONTACT:
U.S.C. 553(b)(B), general notice and an Administration (FAA), Department of
opportunity for public comment are not Sanjay Ralhan, Aerospace Engineer,
Transportation (DOT). International Section, Transport
required prior to the issuance of a final ACTION: Final rule.
rule when an agency, for good cause, Standards Branch, FAA, 1601 Lind
finds that ‘‘notice and public procedure Avenue SW., Renton, WA 98057–3356;
SUMMARY: We are adopting a new
thereon are impracticable, unnecessary, telephone 425–227–1405; fax 425–227–
airworthiness directive (AD) for all
or contrary to the public interest.’’ As 1149.
Airbus Model A319 series airplanes,
discussed above, the Department of the Model A320–211, –212, –214, –231, SUPPLEMENTARY INFORMATION:
Treasury has determined for good cause –232, and –233 airplanes, and Model Discussion
that the APA does not require notice A321–111, –112, –131, –211, –212,
and public comment on this final rule –213, –231, and –232 airplanes. This AD We issued a notice of proposed
and, therefore, it is not publishing a was prompted by a runway excursion rulemaking (NPRM) to amend 14 CFR
notice of proposed rulemaking. Thus, due to an unexpected thrust increase part 39 by adding an AD that would
the RFA, pursuant 5 U.S.C. 601(2), does leading to an unstable approach apply to all Airbus Model A319 series
not apply to this final rule. performed using the current flight airplanes, Model A320–211, –212, –214,
management and guidance computer –231, –232, and –233 airplanes, and
Unfunded Mandates Reform Act Model A321–111, –112, –131, –211,
(FMGC) standard. This AD requires
Section 202 of the Unfunded identification of potentially affected –212, –213, –231, and –232 airplanes.
Mandates Reform Act of 1995 requires FMGCs, replacement of any affected The NPRM published in the Federal
that an agency prepare a budgetary FMGC, and applicable concurrent Register on June 29, 2017 (82 FR 29440)
impact statement before promulgating actions. We are issuing this AD to (‘‘the NPRM’’). The NPRM was
any rule likely to result in a Federal address the unsafe condition on these prompted by a runway excursion due to
mandate that may result in the products. an unexpected thrust increase leading to
expenditure by state, local, and tribal an unstable approach performed using
governments, in the aggregate, or by the DATES: This AD is effective November the current FMGC standard. The NPRM
15, 2017. proposed to require identification of
ethrower on DSK3G9T082PROD with RULES

private sector, of $100 million or more
in any one year, adjusted for inflation.5 The Director of the Federal Register potentially affected FMGCs,
Because this final rule removes approved the incorporation by reference replacement of any affected FMGC, and
inoperative and superseded regulations, of certain publications listed in this AD applicable concurrent actions. We are
as of November 15, 2017. issuing this AD to prevent unstable
4 (Pub. L. 96–354, Sept. 19, 1980). ADDRESSES: For service information approaches due to an unexpected thrust
5 Public Law 104–4 (2 U.S.C. 1532). identified in this final rule, contact increase, which could result in reduced

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Document Created: 2018-10-25 09:57:33
Document Modified: 2018-10-25 09:57:33

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 October 11, 2018.
Contact		Heidi Cohen, Senior Counsel for Regulatory Affairs, (202) 622-1142, Office of the Assistant General Counsel for General Law, Ethics & Regulation, Department of the Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20220.
FR Citation		82 FR 47083

82 FR 47083 - Removal of Office of Thrift Supervision Regulations

DEPARTMENT OF THE TREASURYOffice of the Secretary

Federal Register Volume 82, Issue 195 (October 11, 2017)

DEPARTMENT OF THE TREASURY
Office of the Secretary