Proposed Rule2023-14556
Semiannual Regulatory Flexibility Agenda
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
July 27, 2023
Issuing agencies
Federal Reserve System
Abstract
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, 2023, through October 31, 2023. The next agenda will be published in fall 2023.
Full Text
<html>
<head>
<title>Federal Register, Volume 88 Issue 143 (Thursday, July 27, 2023)</title>
</head>
<body><pre>
[Federal Register Volume 88, Number 143 (Thursday, July 27, 2023)]
[Proposed Rules]
[Pages 48682-48683]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-14556]
[[Page 48681]]
Vol. 88
Thursday,
No. 143
July 27, 2023
Part XXII
Federal Reserve System
-----------------------------------------------------------------------
Semiannual Regulatory Agenda
Federal Register / Vol. 88 , No. 143 / Thursday, July 27, 2023 / UA:
Reg Flex Agenda
[[Page 48682]]
-----------------------------------------------------------------------
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, 2023,
through October 31, 2023. The next agenda will be published in fall
2023.
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 2023
agenda as part of the Spring 2023 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: <a href="http://www.reginfo.gov">www.reginfo.gov</a>. 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 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. The fourth section,
Completed Actions, reports on regulatory matters the Board has
completed or is not expected to consider further. And a fifth 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. A dot (<bullet>) preceding an entry
indicates a new matter that was not a part of the Board's previous
agenda.
Ann E. Misback,
Secretary of the Board.
Federal Reserve System--Prerule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
339....................... Source of Strength 7100-AE73
(Section 610 Review).
------------------------------------------------------------------------
Federal Reserve System--Long-Term Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
340....................... Regulation LL--Savings and 7100-AD80
Loan Holding Companies
and Regulation MM--Mutual
Holding Companies (Docket
No: R-1429).
------------------------------------------------------------------------
FEDERAL RESERVE SYSTEM (FRS)
Prerule Stage
339. Source of Strength (Section 610 Review) [7100-AE73]
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. 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
------------------------------------------------------------------------
Board Expects Further Action........ 12/00/23
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Undetermined.
Agency Contact: Helen Xu, Senior Accounting Policy Analyst, Federal
Reserve System, Supervision and Regulation, Washington, DC 20551,
Phone: 202 530-6204.
Melissa Clark, Lead Financial Institution Policy Analyst, Federal
Reserve System, Division of Supervision and Regulation, Washington, DC
20551, Phone: 202 452-2277.
Vivian Joel, Lead Financial Institution Policy Analyst, Federal
Reserve System, Division of Supervision and Regulation, Washington, DC
20551, Phone: 202 912-4313.
Jay Schwarz, Assistant General Counsel, Federal Reserve System,
Legal Division, Washington, DC 20551, Phone: 202 452-2970.
Claudia Von Pervieux, Senior Counsel, Federal Reserve System, Legal
Division, Washington, DC 20551, Phone: 202 452-2552.
RIN: 7100-AE73
FEDERAL RESERVE SYSTEM (FRS)
Long-Term Actions
340. Regulation LL--Savings and Loan Holding Companies and Regulation
MM--Mutual Holding Companies (Docket No: R-1429) [7100-AD80]
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
[[Page 48683]]
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........ To Be Determined
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Scott Tkacz, Sr. Special Counsel, Federal Reserve
System, Legal Division, Washington, DC 20551, Phone: 202 452-2744.
Victoria Szybillo, Senior Counsel, Federal Reserve System, Legal
Division, Washington, DC 20551, Phone: 202 475-6325.
RIN: 7100-AD80
[FR Doc. 2023-14556 Filed 7-26-23; 8:45 am]
BILLING CODE 6210-01-P
</pre></body>
</html>Indexed from Federal Register on July 27, 2023.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.