83 FR 2014 - Semiannual Regulatory Flexibility Agenda
FEDERAL RESERVE SYSTEM Federal Register Volume 83, Issue 9 (January 12, 2018)
Federal Register Volume 83, Issue 9 (January 12, 2018)
| Page Range | 2014-2015 | |
| FR Document | 2017-28245 |
[Federal Register Volume 83, Number 9 (Friday, January 12, 2018)] [Unknown Section] [Pages 2014-2015] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-28245] [[Page 2013]] Vol. 83 Friday, No. 9 January 12, 2018 Part XXIV Federal Reserve System ----------------------------------------------------------------------- Semiannual Regulatory Agenda Federal Register / Vol. 83 , No. 9 / Friday, January 12, 2018 / Unified Agenda [[Page 2014]] ----------------------------------------------------------------------- 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 November 1, 2017, through April 30, 2018. The next agenda will be published in spring 2018. DATES: Comments about the form or content of the agenda may be submitted any time during the next six 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 fall 2017 agenda as part of the Fall 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 website: www.reginfo.gov. Participation by the Board, as an independent Agency, in the Unified Agenda is on a voluntary basis. The Board's agenda is divided into five sections. The first, Pre- rule Stage, reports on matters the Board is considering for future rulemaking. The second, 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. The fourth section, Long- Term Actions, reports on matters where the next action is undetermined, 00/00/0000, or will occur more than 12 months after publication of the Agenda. And a fifth 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. Yao-Chin Chao, Assistant Secretary of the Board. Federal Reserve System--Proposed Rule Stage ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 477....................... Regulation CC-- 7100-AD68 Availability of Funds and Collection of Checks (Docket No: R-1409). 478....................... Regulation LL--Savings and 7100-AD80 Loan Holding Companies and Regulation MM--Mutual Holding Companies (Docket No: R-1429). ------------------------------------------------------------------------ Federal Reserve System--Long-Term Actions ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 479....................... Source of Strength 7100-AE73 (Section 610 Review). ------------------------------------------------------------------------ FEDERAL RESERVE SYSTEM (FRS) Proposed Rule Stage 477. Regulation CC--Availability of Funds and Collection of Checks (Docket No: R-1409) E.O. 13771 Designation: Independent agency. 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 06/15/17 82 FR 27552 Subpart C. Board Expects Further Action on 01/00/18 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 478. Regulation LL--Savings and Loan Holding Companies and Regulation MM--Mutual Holding Companies (Docket No: R-1429) E.O. 13771 Designation: Independent agency. [[Page 2015]] 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 Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) transferred responsibility 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........ 06/00/18 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: C. Tate Wilson, Senior 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 FEDERAL RESERVE SYSTEM (FRS) Long-Term Actions 479. Source of Strength (Section 610 Review) E.O. 13771 Designation: Independent agency. Legal Authority: 12 U.S.C. 1831(o) Abstract: The Board of Governors of the Federal Reserve System (Board), the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) plan to issue a proposed rule to implement section 616(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act by September 2018. Section 616(d) requires that bank holding companies, savings and loan holding companies, and other companies that directly or indirectly control an insured depository institution serve as a source of strength for the insured depository institution. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ Notice of Proposed Rulemaking....... 11/00/18 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Undetermined. Agency Contact: Conni Allen, Counsel, Federal Reserve System, Division of Supervision and Regulation, Washington, DC 20551, Phone: 202 912-4334. Melissa Clark, Sr. Supervisory Financial Analyst, Federal Reserve System, Division of Supervision and Regulations, Washington, DC 20551, Phone: 202 452-2277. Barbara Bouchard, Senior Associate Director, Federal Reserve System, Division of Supervision and Regulation, Washington, DC 20551, Phone: 202 452-3072. Jay Schwarz, Senior Counsel, Federal Reserve System, Legal Division, Washington, DC 20551, Phone: 202 452-2970. Will Giles, Senior Counsel, Federal Reserve System, Legal Division, Washington, DC 20551, Phone: 202 452-3351. Claudia Von Pervieux, Counsel, Federal Reserve System, Legal Division, Washington, DC 20551, Phone: 202 452-2552. RIN: 7100-AE73 [FR Doc. 2017-28245 Filed 1-11-18; 8:45 am] BILLING CODE 6210-01-P
![Federal Register / Vol. 83, No. 9 / Friday, January 12, 2018 / Unified Agenda 2015
Legal Authority: 5 U.S.C. 552; 5 U.S.C. subsidiary holding companies into a Legal Authority: 12 U.S.C. 1831(o)
559; 5 U.S.C. 1813; 5 U.S.C. 1817; 5 single part of the Board’s regulations. In Abstract: The Board of Governors of
U.S.C. 1828 many instances, interim final Regulation the Federal Reserve System (Board), the
Abstract: The Dodd-Frank Wall Street MM incorporated OTS regulations with Office of the Comptroller of the
Reform and Consumer Protection Act only technical modifications to account Currency (OCC), and the Federal
(the Dodd-Frank Act) transferred for the shift in supervisory Deposit Insurance Corporation (FDIC)
responsibility for supervision of Savings responsibility from the OTS to the plan to issue a proposed rule to
and Loan Holding Companies (SLHCs) Board. Interim final Regulation MM also implement section 616(d) of the Dodd-
and their non-depository subsidiaries reflects statutory changes made by the Frank Wall Street Reform and Consumer
from the Office of Thrift Supervision Dodd-Frank Act with respect to MHCs. Protection Act by September 2018.
(OTS) to the Board of Governors of the The interim final rule also made Section 616(d) requires that bank
Federal Reserve System (the Board), on technical amendments to Board rules to holding companies, savings and loan
July 21, 2011. The Act also transferred facilitate supervision of SLHCs, holding companies, and other
supervisory functions related to Federal including to rules implementing companies that directly or indirectly
savings associations and State savings Community Reinvestment Act control an insured depository
associations to the Office of the requirements and to Board procedural institution serve as a source of strength
Comptroller of the Currency (OCC) and and administrative rules. In addition, for the insured depository institution.
the Federal Deposit Insurance the Board made technical amendments
Timetable:
to implement section 312(b)(2)(A) of the
Corporation (FDIC), respectively. The
Act, which transfers to the Board all
Board on August 12, 2011, approved an Action Date FR Cite
rulemaking authority under section 11
interim final rule for SLHCs, including
of the Home Owner’s Loan Act relating Notice of Pro- 11/00/18
a request for public comment. The
to transactions with affiliates and posed Rule-
interim final rule transferred from the
extensions of credit to executive making.
OTS to the Board the regulations
officers, directors, and principal
necessary for the Board to supervise
shareholders. These amendments Regulatory Flexibility Analysis
SLHCs, with certain technical and
include revisions to parts 215 (Insider Required: Undetermined.
substantive modifications. The interim
Transactions) and part 223 Agency Contact: Conni Allen,
final rule has three components: (1) (Transactions with Affiliates) of Board
New Regulation LL (part 238), which Counsel, Federal Reserve System,
regulations. Division of Supervision and Regulation,
sets forth regulations generally Timetable:
governing SLHCs; (2) new Regulation Washington, DC 20551, Phone: 202 912–
MM (part 239), which sets forth 4334.
Action Date FR Cite
regulations governing SLHCs in mutual Melissa Clark, Sr. Supervisory
form; and (3) technical amendments to Board Requested 09/13/11 76 FR 56508 Financial Analyst, Federal Reserve
existing Board regulations necessary to Comment. System, Division of Supervision and
accommodate the transfer of supervisory Board Expects 06/00/18 Regulations, Washington, DC 20551,
authority for SLHCs from the OTS to the Further Action. Phone: 202 452–2277.
Board. The structure of interim final Barbara Bouchard, Senior Associate
Regulatory Flexibility Analysis
Regulation LL closely follows that of the Director, Federal Reserve System,
Required: Yes.
Board’s Regulation Y, which governs Agency Contact: C. Tate Wilson, Division of Supervision and Regulation,
bank holding companies, in order to Senior Counsel, Federal Reserve Washington, DC 20551, Phone: 202 452–
provide an overall structure to rules that System, Legal Division, Washington, DC 3072.
were previously found in disparate 20551, Phone: 202 452–3696. Jay Schwarz, Senior Counsel, Federal
locations. In many instances, interim Claudia Von Pervieux, Counsel, Reserve System, Legal Division,
final Regulation LL incorporated OTS Federal Reserve System, Legal Division, Washington, DC 20551, Phone: 202 452–
regulations with only technical Washington, DC 20551, Phone: 202 452– 2970.
modifications to account for the shift in 2552. Will Giles, Senior Counsel, Federal
supervisory responsibility from the OTS RIN: 7100–AD80 Reserve System, Legal Division,
to the Board. Interim final Regulation LL Washington, DC 20551, Phone: 202 452–
also reflects statutory changes made by 3351.
the Dodd-Frank Act with respect to
FEDERAL RESERVE SYSTEM (FRS) Claudia Von Pervieux, Counsel,
SLHCs, and incorporates Board
Federal Reserve System, Legal Division,
precedent and practices with respect to Long-Term Actions Washington, DC 20551, Phone: 202 452–
applications processing procedures and
479. Source of Strength (Section 610 2552.
control issues, among other matters.
Interim final Regulation MM organized Review) RIN: 7100–AE73
existing OTS regulations governing E.O. 13771 Designation: Independent [FR Doc. 2017–28245 Filed 1–11–18; 8:45 am]
SLHCs in mutual form (MHCs) and their agency. BILLING CODE 6210–01–P
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Document Created: 2018-10-26 09:50:29
Document Modified: 2018-10-26 09:50:29
| 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 six months. | |
| Contact | A staff contact for each item is indicated with the regulatory description below. | |
| FR Citation | 83 FR 2014 |
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