Proposed Rule2023-26510
Guidelines Establishing Standards for Corporate Governance and Risk Management for Covered Institutions With Total Consolidated Assets of $10 Billion or More; Extension of Comment Period
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
December 4, 2023
Issuing agencies
Federal Deposit Insurance Corporation
Abstract
On October 11, 2023, the Federal Deposit Insurance Corporation (FDIC) published in the Federal Register a proposal to issue Guidelines to FDIC's standards for safety and soundness regulations and make conforming amendments to its regulations. These Guidelines would apply to all insured state nonmember banks, state-licensed insured branches of foreign banks, and insured state savings associations that are subject to Section 39 of the Federal Deposit Insurance Act (FDI Act), with total consolidated assets of $10 billion or more on or after the effective date of the final Guidelines. The FDIC has determined that an extension of the comment period until February 9, 2024, is appropriate.
Full Text
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<title>Federal Register, Volume 88 Issue 231 (Monday, December 4, 2023)</title>
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[Federal Register Volume 88, Number 231 (Monday, December 4, 2023)]
[Proposed Rules]
[Page 84089]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-26510]
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FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Part 364
RIN 3064-AF94
Guidelines Establishing Standards for Corporate Governance and
Risk Management for Covered Institutions With Total Consolidated Assets
of $10 Billion or More; Extension of Comment Period
AGENCY: Federal Deposit Insurance Corporation.
ACTION: Notice of proposed rulemaking and issuance of guidelines;
extension of comment period.
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SUMMARY: On October 11, 2023, the Federal Deposit Insurance Corporation
(FDIC) published in the Federal Register a proposal to issue Guidelines
to FDIC's standards for safety and soundness regulations and make
conforming amendments to its regulations. These Guidelines would apply
to all insured state nonmember banks, state-licensed insured branches
of foreign banks, and insured state savings associations that are
subject to Section 39 of the Federal Deposit Insurance Act (FDI Act),
with total consolidated assets of $10 billion or more on or after the
effective date of the final Guidelines. The FDIC has determined that an
extension of the comment period until February 9, 2024, is appropriate.
DATES: Comments must be received by February 9, 2024.
ADDRESSES: The FDIC encourages interested parties to submit written
comments. Please include your name, affiliation, address, email
address, and telephone number(s) in your comment. You may submit
comments to the FDIC, identified by RIN 3064-AF94, by any of the
following methods:
Agency Website: <a href="https://www.fdic.gov/resources/regulations/federal-register-publications">https://www.fdic.gov/resources/regulations/federal-register-publications</a>. Follow instructions for submitting comments on
the FDIC's website.
Mail: James P. Sheesley, Assistant Executive Secretary, Attention:
Comments/Legal OES (RIN 3064-AF94), Federal Deposit Insurance
Corporation, 550 17th Street NW, Washington, DC 20429.
Hand Delivered/Courier: Comments may be hand-delivered to the guard
station at the rear of the 550 17th Street NW building (located on F
Street NW) on business days between 7 a.m. and 5 p.m.
Email: <a href="/cdn-cgi/l/email-protection#9bf8f4f6f6fef5efe8dbdddfd2d8b5fcf4ed"><span class="__cf_email__" data-cfemail="5f3c3032323a312b2c1f191b161c71383029">[email protected]</span></a>. Include RIN 3064-AF94 in the subject line
of the message.
Public Inspection: Comments received, including any personal
information provided, may be posted without change to <a href="https://www.fdic.gov/resources/regulations/federal-registerpublications/">https://www.fdic.gov/resources/regulations/federal-registerpublications/</a>.
Commenters should submit only information that the commenter wishes to
make available publicly. The FDIC may review, redact, or refrain from
posting all or any portion of any comment that it may deem to be
inappropriate for publication, such as irrelevant or obscene material.
The FDIC may post only a single representative example of identical or
substantially identical comments, and in such cases will generally
identify the number of identical or substantially identical comments
represented by the posted example. All comments that have been
redacted, as well as those that have not been posted, that contain
comments on the merits of this notice will be retained in the public
comment file and will be considered as required under all applicable
laws. All comments may be accessible under the Freedom of Information
Act.
FOR FURTHER INFORMATION CONTACT: Division of Risk Management
Supervision: Judy E. Gross, Senior Policy Analyst, (202) 898-7047,
<a href="/cdn-cgi/l/email-protection#5e142b192c312d2d1e181a171d70393128"><span class="__cf_email__" data-cfemail="eca699ab9e839f9facaaa8a5afc28b839a">[email protected]</span></a>; Legal Division: Jennifer M. Jones, Counsel, (202)
898-6768; Catherine Topping, Counsel, (202) 898-3975; Nicholas A.
Simons, Senior Attorney, (202) 898-6785; Kimberly Yeh, Senior Attorney,
(202) 898-6514.
SUPPLEMENTARY INFORMATION: On October 11, 2023, the FDIC published in
the Federal Register a proposal to issue Guidelines as Appendix C to
FDIC's standards for safety and soundness regulations in part 364 and
make conforming amendments to parts 308 and 364 of its regulations.\1\
These Guidelines would apply to all insured state nonmember banks,
state-licensed insured branches of foreign banks, and insured state
savings associations that are subject to section 39 of the FDI Act with
total consolidated assets of $10 billion or more on or after the
effective date of the final Guidelines. The Guidelines are intended to
set the FDIC's expectations for covered institutions regarding
corporate governance, risk management, and oversight by the board of
directors. The notice of proposed rulemaking stated that the comment
period would close on December 11, 2023. The FDIC has received requests
to extend the comment period. An extension of the comment period will
provide additional opportunity for the public to consider the proposal
and prepare comments, including to address the questions posed by the
FDIC. Therefore, the FDIC is extending the end of the comment period
for the proposal from December 11, 2023, to February 9, 2024.
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\1\ 88 FR 70391 (Oct. 11, 2023).
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Federal Deposit Insurance Corporation.
Dated at Washington, DC, on November 28, 2023.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2023-26510 Filed 12-1-23; 8:45 am]
BILLING CODE 6714-01-P
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