83 FR 27272 - Semiannual Regulatory Flexibility Agenda
FEDERAL RESERVE SYSTEM Federal Register Volume 83, Issue 112 (June 11, 2018)
Federal Register Volume 83, Issue 112 (June 11, 2018)
| Page Range | 27272-27273 | |
| FR Document | 2018-11243 |
[Federal Register Volume 83, Number 112 (Monday, June 11, 2018)] [Unknown Section] [Pages 27272-27273] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-11243] [[Page 27271]] Vol. 83 Monday, No. 112 June 11, 2018 Part XXV Federal Reserve System ----------------------------------------------------------------------- Semiannual Regulatory Agenda Federal Register / Vol. 83 , No. 112 / Monday, June 11, 2018 / Unified Agenda [[Page 27272]] ----------------------------------------------------------------------- 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 May 1, 2018, through October 31, 2018. The next agenda will be published in fall 2018. 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 2018 agenda as part of the Spring 2018 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 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--Prerule Stage ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 317....................... Source of Strength 7100-AE73 (Section 610 Review). ------------------------------------------------------------------------ Federal Reserve System--Proposed Rule Stage ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 318....................... Regulation LL--Savings and 7100-AD80 Loan Holding Companies and Regulation MM--Mutual Holding Companies (Docket No: R-1429). ------------------------------------------------------------------------ Federal Reserve System--Final Rule Stage ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 319....................... Regulation CC-- 7100-AD68 Availability of Funds and Collection of Checks (Docket No: R-1409). ------------------------------------------------------------------------ FEDERAL RESERVE SYSTEM (FRS) Prerule Stage 317. 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 December 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....... 12/00/18 ....................... ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Undetermined. Agency Contact: Conni Allen, Special 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 Regulation, 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. [[Page 27273]] RIN: 7100-AE73 FEDERAL RESERVE SYSTEM (FRS) Proposed Rule Stage 318. Regulation LL--Savings and Loan Holding Companies and Regulation MM--Mutual Holding Companies (Docket No: R-1429) E.O. 13771 Designation: Independent agency. 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........ 12/00/18 ....................... ------------------------------------------------------------------------ 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) Final Rule Stage 319. 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) is amending Regulation CC, which implements the Expedited Funds Availability Act (EFAA), which governs the availability of funds after a check deposit, as well as check collection and return. In March 2011, 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 encourage depository banks to receive and paying banks to send returned check electronically and proposed amendments to subpart B's funds availability schedule provisions. Subsequently, section 1086 of the Dodd-Frank Wall Street Reform and Consumer Protection Act amended the EFAA to provide the Consumer Financial Protection Bureau (CFPB) with joint rulemaking authority with the Board over certain EFAA provisions, including those implemented by subpart B of Regulation CC. Based on its analysis of comments received, the Board revised its proposed amendments to subpart C of Regulation CC. The Board finalized its proposed amendments to subpart C in June 2017. 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 Published Final Rule.......... 06/15/17 82 FR 27552 Board Expects Further Action on 06/00/18 ....................... Subpart B. ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Gavin Smith, Counsel, Federal Reserve System, Legal Division, Washington, DC 20558, Phone: 202 452-3474. Ian Spear, Manager, Federal Reserve System, Division of Reserve Bank Operations and Payment Systems, Washington, DC 20551, Phone: 202 452-3959 RIN: 7100-AD68 [FR Doc. 2018-11243 Filed 6-8-18; 8:45 am] BILLING CODE 6210-01-P
![Federal Register / Vol. 83, No. 112 / Monday, June 11, 2018 / Unified Agenda 27273
RIN: 7100–AE73 applications processing procedures and Legal Authority: 12 U.S.C. 4001 to
control issues, among other matters. 4010; 12 U.S.C. 5001 to 5018
Interim final Regulation MM organized Abstract: The Board of Governors of
existing OTS regulations governing the Federal Reserve System (the Board)
FEDERAL RESERVE SYSTEM (FRS)
SLHCs in mutual form (MHCs) and their is amending Regulation CC, which
Proposed Rule Stage subsidiary holding companies into a implements the Expedited Funds
318. Regulation LL—Savings and Loan single part of the Board’s regulations. In Availability Act (EFAA), which governs
Holding Companies and Regulation many instances, interim final Regulation the availability of funds after a check
MM—Mutual Holding Companies MM incorporated OTS regulations with deposit, as well as check collection and
(Docket No: R–1429) only technical modifications to account return. In March 2011, the Board
for the shift in supervisory proposed amendments to Regulation CC
E.O. 13771 Designation: Independent responsibility from the OTS to the
agency. to facilitate the banking industry’s
Board. Interim final Regulation MM also ongoing transition to fully electronic
Legal Authority: 5 U.S.C. 552; 5 U.S.C. reflects statutory changes made by the
559; 5 U.S.C. 1813; 5 U.S.C. 1817; 5 interbank check collection and return,
Dodd-Frank Act with respect to MHCs. including proposed amendments to
U.S.C. 1828 The interim final rule also made
Abstract: The Dodd-Frank Wall Street subpart C to encourage depository banks
technical amendments to Board rules to to receive and paying banks to send
Reform and Consumer Protection Act
facilitate supervision of SLHCs, returned check electronically and
(the Dodd-Frank Act) transferred
including to rules implementing proposed amendments to subpart B’s
responsibility for supervision of Savings
Community Reinvestment Act funds availability schedule provisions.
and Loan Holding Companies (SLHCs)
requirements and to Board procedural Subsequently, section 1086 of the Dodd-
and their non-depository subsidiaries
and administrative rules. In addition, Frank Wall Street Reform and Consumer
from the Office of Thrift Supervision
the Board made technical amendments Protection Act amended the EFAA to
(OTS) to the Board of Governors of the
to implement section 312(b)(2)(A) of the provide the Consumer Financial
Federal Reserve System (the Board), on
Act, which transfers to the Board all Protection Bureau (CFPB) with joint
July 21, 2011. The Act also transferred
supervisory functions related to Federal rulemaking authority under section 11 rulemaking authority with the Board
savings associations and State savings of the Home Owner’s Loan Act relating over certain EFAA provisions, including
associations to the Office of the to transactions with affiliates and those implemented by subpart B of
Comptroller of the Currency (OCC) and extensions of credit to executive Regulation CC. Based on its analysis of
the Federal Deposit Insurance officers, directors, and principal comments received, the Board revised
Corporation (FDIC), respectively. The shareholders. These amendments its proposed amendments to subpart C
Board on August 12, 2011, approved an include revisions to parts 215 (Insider of Regulation CC. The Board finalized
interim final rule for SLHCs, including Transactions) and part 223 its proposed amendments to subpart C
a request for public comment. The (Transactions with Affiliates) of Board in June 2017.
interim final rule transferred from the regulations.
Timetable: Timetable:
OTS to the Board the regulations
necessary for the Board to supervise Action Date FR Cite
Action Date FR Cite
SLHCs, with certain technical and
substantive modifications. The interim Board Requested 09/13/11 76 FR 56508 Board Requested 03/25/11 76 FR 16862
final rule has three components: (1) Comment. Comment.
New Regulation LL (part 238), which Board Expects 12/00/18 Board Requested 02/04/14 79 FR 6673
sets forth regulations generally Further Action. Comment on
governing SLHCs; (2) new Regulation Revised Pro-
MM (part 239), which sets forth Regulatory Flexibility Analysis posal.
Required: Yes. Board Published 06/15/17 82 FR 27552
regulations governing SLHCs in mutual
Final Rule.
form; and (3) technical amendments to Agency Contact: C. Tate Wilson,
Board Expects 06/00/18
existing Board regulations necessary to Senior Counsel, Federal Reserve Further Action
accommodate the transfer of supervisory System, Legal Division, Washington, DC on Subpart B.
authority for SLHCs from the OTS to the 20551, Phone: 202 452–3696.
Board. The structure of interim final Claudia Von Pervieux, Counsel,
Regulation LL closely follows that of the Federal Reserve System, Legal Division, Regulatory Flexibility Analysis
Board’s Regulation Y, which governs Washington, DC 20551, Phone: 202 452– Required: Yes.
bank holding companies, in order to 2552. Agency Contact: Gavin Smith,
provide an overall structure to rules that RIN: 7100–AD80 Counsel, Federal Reserve System, Legal
were previously found in disparate Division, Washington, DC 20558, Phone:
locations. In many instances, interim 202 452–3474.
final Regulation LL incorporated OTS Ian Spear, Manager, Federal Reserve
regulations with only technical FEDERAL RESERVE SYSTEM (FRS)
System, Division of Reserve Bank
modifications to account for the shift in Final Rule Stage Operations and Payment Systems,
supervisory responsibility from the OTS Washington, DC 20551, Phone: 202 452–
daltland on DSKBBV9HB2PROD with PROPOSALS4
to the Board. Interim final Regulation LL 319. Regulation CC—Availability of
Funds and Collection of Checks (Docket 3959
also reflects statutory changes made by
the Dodd-Frank Act with respect to No: R–1409) RIN: 7100–AD68
SLHCs, and incorporates Board E.O. 13771 Designation: Independent [FR Doc. 2018–11243 Filed 6–8–18; 8:45 am]
precedent and practices with respect to agency. BILLING CODE 6210–01–P
VerDate Sep<11>2014 21:43 Jun 08, 2018 Jkt 244001 PO 00000 Frm 00003 Fmt 4701 Sfmt 9990 E:\FR\FM\11JNP25.SGM 11JNP25](https://thefederalregister.org/doc/83_FR_27384/page/2.svg)
Document Created: 2018-11-02 11:58:21
Document Modified: 2018-11-02 11:58:21
| 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 | 83 FR 27272 |
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