Proposed Rule2024-28939
Regulatory Publication and Review Under the Economic Growth and Regulatory Paperwork Reduction Act of 1996
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 11, 2024
Issuing agencies
Treasury DepartmentComptroller of the CurrencyFederal Reserve SystemFederal Deposit Insurance Corporation
Abstract
Pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA), the OCC, Board, and FDIC (collectively, the agencies) are reviewing agency regulations to identify outdated or otherwise unnecessary regulatory requirements on insured depository institutions and their holding companies. Over approximately two years, the agencies will publish four Federal Register documents requesting comment on multiple categories of regulations. This third Federal Register document requests comment on regulations in the categories of Rules of Procedure; Safety and Soundness; and Securities.
Full Text
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<title>Federal Register, Volume 89 Issue 238 (Wednesday, December 11, 2024)</title>
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[Federal Register Volume 89, Number 238 (Wednesday, December 11, 2024)]
[Proposed Rules]
[Pages 99751-99760]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-28939]
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Proposed Rules
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.
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Federal Register / Vol. 89, No. 238 / Wednesday, December 11, 2024 /
Proposed Rules
[[Page 99751]]
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
12 CFR Chapter I
[Docket ID OCC-2023-0016]
FEDERAL RESERVE SYSTEM
12 CFR Chapter II
[Docket No. OP-1828]
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Chapter III
RIN 3064-ZA39
Regulatory Publication and Review Under the Economic Growth and
Regulatory Paperwork Reduction Act of 1996
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury;
Board of Governors of the Federal Reserve System (Board); Federal
Deposit Insurance Corporation (FDIC).
ACTION: Regulatory review; request for comments.
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SUMMARY: Pursuant to the Economic Growth and Regulatory Paperwork
Reduction Act of 1996 (EGRPRA), the OCC, Board, and FDIC (collectively,
the agencies) are reviewing agency regulations to identify outdated or
otherwise unnecessary regulatory requirements on insured depository
institutions and their holding companies. Over approximately two years,
the agencies will publish four Federal Register documents requesting
comment on multiple categories of regulations. This third Federal
Register document requests comment on regulations in the categories of
Rules of Procedure; Safety and Soundness; and Securities.
DATES: Written comments must be received no later than March 11, 2025.
ADDRESSES: Comments should be directed to:
OCC: Commenters are encouraged to submit comments through the
Federal eRulemaking Portal. Please use the title ``Regulatory
Publication and Review Under the Economic Growth and Regulatory
Paperwork Reduction Act of 1996'' to facilitate the organization and
distribution of the comments. You may submit comments by any of the
following methods:
<bullet> Federal eRulemaking Portal--<a href="http://Regulations.gov">Regulations.gov</a>:
Go to <a href="https://regulations.gov/">https://regulations.gov/</a>. Enter ``Docket ID OCC-2023-0016''
in the Search Box and click ``Search.'' Public comments can be
submitted via the ``Comment'' box below the displayed document
information or by clicking on the document title and then clicking the
``Comment'' box on the top-left side of the screen. For help with
submitting effective comments, please click on ``Commenter's
Checklist.'' For assistance with the <a href="http://Regulations.gov">Regulations.gov</a> site, please call
1-866-498-2945 (toll free) Monday-Friday, 9 a.m.-5 p.m. eastern time
(ET), or email <a href="/cdn-cgi/l/email-protection#5b293e3c2e373a2f32343528333e372b3f3e28301b3c283a753c342d"><span class="__cf_email__" data-cfemail="8cfee9ebf9e0edf8e5e3e2ffe4e9e0fce8e9ffe7ccebffeda2ebe3fa">[email protected]</span></a>.
<bullet> Mail: Chief Counsel's Office, Attention: Comment
Processing, Office of the Comptroller of the Currency, 400 7th Street
SW, Suite 3E-218, Washington, DC 20219.
<bullet> Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
Instructions: You must include ``OCC'' as the agency name and
``Docket ID OCC-2023-0016'' in your comment. In general, the OCC will
enter all comments received into the docket and publish the comments on
the <a href="http://Regulations.gov">Regulations.gov</a> website without change, including any business or
personal information provided such as name and address information,
email addresses, or phone numbers. Comments received, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. Do not include any information
in your comment or supporting materials that you consider confidential
or inappropriate for public disclosure.
You may review comments and other related materials that pertain to
this action by the following method:
<bullet> Viewing Comments Electronically--<a href="http://Regulations.gov">Regulations.gov</a>:
Go to <a href="https://regulations.gov/">https://regulations.gov/</a>. Enter ``Docket ID OCC-2023-0016''
in the Search Box and click ``Search.'' Click on the ``Dockets'' tab
and then the document's title. After clicking the document's title,
click the ``Browse All Comments'' tab. Comments can be viewed and
filtered by clicking on the ``Sort By'' drop-down on the right side of
the screen or the ``Refine Comments Results'' options on the left side
of the screen. Supporting materials can be viewed by clicking on the
``Browse Documents'' tab. Click on the ``Sort By'' drop-down on the
right side of the screen or the ``Refine Results'' options on the left
side of the screen checking the ``Supporting & Related Material''
checkbox. For assistance with the <a href="http://Regulations.gov">Regulations.gov</a> site, please call 1-
866-498-2945 (toll free) Monday-Friday, 9 a.m.-5 p.m. ET, or email
<a href="/cdn-cgi/l/email-protection#01736466746d6075686e6f7269646d716564726a416672602f666e77"><span class="__cf_email__" data-cfemail="ef9d8a889a838e9b8680819c878a839f8b8a9c84af889c8ec1888099">[email protected]</span></a>.
The docket may be viewed after the close of the comment period in
the same manner as during the comment period.
Board: You may submit comments, identified by Docket No. OP-1828 by
any of the following methods:
<bullet> Agency Website: <a href="https://www.federalreserve.gov">https://www.federalreserve.gov</a>. Follow the
instructions for submitting comments at <a href="https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm">https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm</a>.
<bullet> Federal eRulemaking Portal: <a href="https://www.regulations.gov">https://www.regulations.gov</a>.
Follow the instructions for submitting comments.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#b7c5d2d0c499d4d8dadad2d9c3c4f7d1d2d3d2c5d6dbc5d2c4d2c5c1d299d0d8c1"><span class="__cf_email__" data-cfemail="b9cbdcdeca97dad6d4d4dcd7cdcaf9dfdcdddccbd8d5cbdccadccbcfdc97ded6cf">[email protected]</span></a>. Include the
docket number in the subject line of the message.
<bullet> Fax: 202-452-3819 or 202-452-3102.
<bullet> Mail: Ann E. Misback, Secretary, Board of Governors of the
Federal Reserve System, 20th Street and Constitution Avenue NW,
Washington, DC 20551.
Public Inspection: In general, all public comments will be made
available on the Board's website at <a href="http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm">www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm</a> as submitted, and will not be modified to remove
confidential, contact or any identifiable information. Public comments
may also be viewed electronically or in paper in Room M-4365A, 2001 C
Street NW, Washington, DC 20551, between 9 a.m. and 5 p.m. during
Federal business weekdays. For security reasons, the Board requires
that visitors make an appointment to inspect comments by calling (202)
452-3684. Upon arrival,
[[Page 99752]]
visitors will be required to present valid government-issued photo
identification and to submit to security screening in order to inspect
and photocopy comments. For users of TTY-TRS, please call 711 from any
telephone, anywhere in the United States.
FDIC: Interested parties are invited to submit written comments,
identified by RIN 3064-ZA39, by any of the following methods:
<bullet> 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.
<bullet> Email: <a href="/cdn-cgi/l/email-protection#fc9f9391919992888fbcbab8b5bfd29b938a"><span class="__cf_email__" data-cfemail="11727e7c7c747f656251575558523f767e67">[email protected]</span></a>. Include ``EGRPRA'' in the
subject line of the message.
<bullet> Mail: James P. Sheesley, Assistant Executive Secretary,
Attention: Comments--RIN 3064-ZA39, Federal Deposit Insurance
Corporation, 550 17th Street NW, Washington, DC 20429.
<bullet> Hand Delivery: 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. ET.
Public Inspection: Comments received, including any personal
information provided, may be posted without change to <a href="https://www.fdic.gov/resources/regulations/federal-register-publications/">https://www.fdic.gov/resources/regulations/federal-register-publications/</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 document 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:
OCC: Allison Hester-Haddad, Special Counsel, Daniel Amodeo,
Counsel, or John Cooper, Counsel, Chief Counsel's Office (202) 649-
5490, Office of the Comptroller of the Currency, 400 7th Street SW,
Washington, DC 20219. If you are deaf, hard of hearing, or have a
speech disability, please dial 7-1-1 to access telecommunications relay
services.
Board: Katie Ballintine, Assistant Director, (202) 452-2555, and
Colton Hamming, Financial Institution Policy Analyst III, (202) 452-
3932, Division of Supervision and Regulation; Mandie Aubrey, Senior
Counsel, (202) 452-2595, Division of Consumer and Community Affairs;
Dafina Stewart, Deputy Associate General Counsel, (202) 452-2677, David
Cohen, Counsel, (202) 452-5259, and Vivien Lee, Attorney, (202) 452-
2029, Legal Division, Board of Governors of the Federal Reserve System,
20th Street and Constitution Avenue NW, Washington, DC 20551. For users
of TTY-TRS, please call 711 from any telephone, anywhere in the United
States.
FDIC: Karen J. Currie, Chief, Policy & Program Development Section,
(202) 898-3981, Division of Risk Management Supervision; or William
Piervincenzi, Supervisory Counsel, (202) 898-6957, Legal Division.
I. Introduction
Section 2222 of EGRPRA \1\ requires that not less frequently than
once every 10 years, the Federal Financial Institutions Examination
Council (FFIEC) \2\ and the agencies \3\ conduct a review of their
regulations to identify outdated or otherwise unnecessary regulatory
requirements imposed on insured depository institutions. In conducting
this review, the FFIEC or the agencies will (a) categorize their
regulations by type and (b) at regular intervals, provide notice and
solicit public comment on categories of regulations, requesting
commenters to identify areas of regulations that are outdated,
unnecessary, or unduly burdensome.\4\
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\1\ 12 U.S.C. 3311.
\2\ The FFIEC is an interagency body empowered to prescribe
uniform principles, standards, and report forms for the Federal
examination of financial institutions and to make recommendations to
promote uniformity in the supervision of financial institutions. The
FFIEC does not issue regulations that impose burden on financial
institutions and, therefore, we have not separately captioned the
FFIEC in this document.
\3\ The FFIEC is comprised of the OCC, Board, FDIC, National
Credit Union Administration (NCUA), Consumer Financial Protection
Bureau (CFPB), and State Liaison Committee. Of these, only the OCC,
Board, and FDIC are statutorily required to undertake the EGRPRA
review. The NCUA elected to participate in the first and second
EGRPRA reviews, and the NCUA Board again has elected to participate
in this review process.
Consistent with its approach during the first and second EGRPRA
reviews, the NCUA will separately issue documents and requests for
comment on its rules. The CFPB is required to review its significant
rules and publish a report of its review no later than five years
after they take effect. See 12 U.S.C. 5512(d). This process is
separate from the EGRPRA process.
\4\ Insured depository institutions are also subject to
regulations that are not reviewed under the EGRPRA process because
they were not prescribed by the agencies. Examples include rules for
which rulemaking authority was transferred to the CFPB and anti-
money laundering regulations issued by the Department of the
Treasury's Financial Crimes Enforcement Network, among others. If,
during the EGRPRA process, the agencies receive a comment about a
regulation that is not subject to the EGRPRA review, we will forward
that comment to the appropriate agency.
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EGRPRA also requires the FFIEC or the agencies to publish in the
Federal Register a summary of the comments received, identifying
significant issues raised and commenting on those issues. It also
directs the agencies to eliminate unnecessary regulations, as
appropriate. Finally, the statute requires the FFIEC to submit a report
to Congress that summarizes any significant issues raised in the public
comments and the relative merits of those issues. The report also must
include an analysis of whether the agencies are able to address the
regulatory burdens associated with such issues or whether those burdens
must be addressed by legislative action.
II. The EGRPRA Review's Targeted Focus
The EGRPRA regulatory review provides an opportunity for the public
and the agencies to evaluate groups of related regulations and to
identify opportunities for burden reduction.\5\ For example, the EGRPRA
review may facilitate the identification of statutes and regulations
that share similar goals or complementary methods where one or more
agencies could eliminate the overlapping regulatory requirements.
Alternatively, commenters may identify regulations or statutes that
impose requirements that are no longer consistent with current business
practices and may warrant revision or elimination.
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\5\ See supra note 1.
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The EGRPRA review also provides the agencies and the public with an
opportunity to consider how to reduce the impact of regulations on
community banks or their holding companies. The agencies are aware of
the role that these institutions play in providing consumers and
businesses across the nation with essential financial services and
access to credit. The agencies are especially concerned about the
impact of requirements on these smaller institutions. The agencies
understand that when a new regulation is issued or a current regulation
amended, smaller institutions may have to devote a significant amount
of their resources to determine if and how the regulation will affect
them. Through the public comment process, the EGRPRA review can help
the agencies identify and target
[[Page 99753]]
regulatory changes to reduce impacts on those smaller institutions.
Burden reduction must be compatible with consumer protection and
the safety and soundness of insured depository institutions, their
affiliates, and the financial system as a whole. Burden reduction also
must be consistent with the agencies' statutory mandates, many of which
require the issuance of regulations. EGRPRA recognizes that effective
burden reduction may require statutory changes. Accordingly, as part of
this review, the agencies specifically ask the public to comment on the
relationship among burden reduction, regulatory requirements, policy
objectives, and statutory mandates. The agencies also seek quantitative
data about the impact of rules, where available.
The agencies note that they must consider regulatory burden each
time an agency proposes, adopts, or amends a rule. For example, under
the Paperwork Reduction Act of 1995 \6\ and the Regulatory Flexibility
Act,\7\ the agencies assess each rulemaking with respect to the burdens
the rule might impose. The agencies also invite the public to comment
on proposed rules as required by the Administrative Procedure Act.\8\
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\6\ 44 U.S.C. 3501-3521.
\7\ 5 U.S.C. 610.
\8\ 5 U.S.C. 551-559.
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III. The EGRPRA Review Process
Taken together for purposes of the EGRPRA review process, the
agencies' regulations covering insured depository institutions
encompass more than 100 subjects.\9\ Consistent with the EGRPRA statute
and past practice, the agencies have grouped these regulations into the
following 12 categories listed in alphabetical order: Applications and
Reporting; Banking Operations; Capital; Community Reinvestment Act;
Consumer Protection; \10\ Directors, Officers and Employees;
International Operations; Money Laundering; Powers and Activities;
Rules of Procedure; Safety and Soundness; and Securities. These
categories were used during the prior EGRPRA reviews. The agencies
determined the categories by sorting the regulations by type and sought
to have no category be too large or broad. These categories remain
useful for the review, and the agencies have not modified the
categories for purposes of this review.
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\9\ Consistent with EGRPRA's focus on reducing burden on insured
depository institutions, the agencies have not included their
internal, organizational, or operational regulations in this review.
These regulations impose minimal, if any, burden on insured
depository institutions.
\10\ The agencies are seeking comment only on consumer
protection regulations for which they retain rulemaking authority
for insured depository institutions and holding companies under the
Dodd-Frank Wall Street Reform and Consumer Protection Act, Public
Law 111-203, 124 Stat. 1376 (2010) (Dodd-Frank Act).
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To carry out the EGRPRA review, the agencies plan to publish four
Federal Register documents with each addressing one or more categories
of rules. Each Federal Register document will have a 90-day comment
period. On February 6, 2024, the agencies published the first document,
addressing the following categories of regulations: Applications and
Reporting; Powers and Activities; and International Operations.\11\ On
August 1, 2024, the agencies published a second document, addressing
Consumer Protection; Directors, Officers and Employees; and Money
Laundering.\12\ Today the agencies are publishing the third document
addressing the categories of Rules of Procedure; Safety and Soundness;
and Securities. The agencies invite the public to identify outdated,
unnecessary, or unduly burdensome regulatory requirements imposed on
insured depository institutions and their holding companies in these
three categories.
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\11\ 89 FR 8084.
\12\ 89 FR 62679.
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To assist the public's understanding of how the agencies have
organized the EGRPRA review, the agencies have prepared a chart that
lists the categories of regulations for which the agencies are
requesting comments. The chart's left column divides the categories
into specific subject-matter areas. The headings at the top of the
chart identify the types of institutions affected by the regulations.
The agencies will review the comments received and determine
whether further action is appropriate with respect to the regulations.
The agencies will consult and coordinate with each other and expect
generally to make this determination jointly, as appropriate, in the
case of rules that have been issued on an interagency basis. Similarly,
as appropriate, the agencies will coordinate to amend or repeal those
rules on an interagency basis. For rules issued by a single agency, the
issuing agency will review the comments received and independently
determine whether amendments to or repeal of its rules are appropriate.
Further, as part of the EGRPRA review, the agencies are holding a
series of public outreach meetings to provide an opportunity for
bankers, consumer and community groups, and other interested parties to
present their views directly to senior management and staff of the
agencies. More information about the outreach meetings can be found on
the agencies' EGRPRA website, <a href="https://egrpra.ffiec.gov">https://egrpra.ffiec.gov</a>.
IV. Request for Comments on Regulations in the Rules of Procedure,
Safety and Soundness, and Securities Categories
The agencies are requesting comment on regulations in the Rules of
Procedure; Safety and Soundness; and Securities categories to identify
outdated, unnecessary, or unduly burdensome requirements imposed on
insured depository institutions and their holding companies. The
agencies will solicit comment on all rules finalized by the agencies
before the publication of the last EGRPRA document in the series. In
addition to comments on regulations in these categories generally, the
agencies are requesting comments on certain specific regulations
described below within these categories issued since the last EGRPRA
review. Where possible, the agencies ask commenters to cite to specific
regulatory language or provisions. The agencies also welcome suggested
alternative provisions or language in support of a comment, where
appropriate. The agencies will consider comments submitted anonymously.
Specific Issues for Commenters To Consider
The agencies specifically invite comment on the following issues as
they pertain to the agencies' Rules of Procedure; Safety and Soundness;
and Securities rules addressed in this document. The agencies will ask
these same questions for each document issued in connection with the
EGRPRA process and invite comments on these questions for the
categories in the previous EGRPRA documents.
<bullet> Need and purpose of the regulations.
[cir] Question 1: Have there been changes in the financial services
industry, consumer behavior, or other circumstances that cause any
regulations in these categories to be outdated, unnecessary, or unduly
burdensome? If so, please identify the regulations, provide any
available quantitative analyses or data, and indicate how the
regulations should be amended.
[cir] Question 2: Do any of these regulations impose burdens not
required by their underlying statutes? If so, please identify the
regulations and indicate how they should be amended.
<bullet> Overarching approaches/flexibilities.
[[Page 99754]]
[cir] Question 3: With respect to the regulations in these
categories, could an agency use a different regulatory approach to
lessen the burden imposed by the regulations and achieve statutory
intent?
[cir] Question 4: Do any of these rules impose unnecessarily
inflexible requirements? If so, please identify the regulations and
indicate how they should be amended.
<bullet> Cumulative effects.
[cir] Question 5: Looking at the regulations in a category as a
whole, are there any requirements that are redundant, inconsistent, or
overlapping in such a way that taken together, impose an unnecessary
burden that could potentially be addressed? If so, please identify
those regulations, provide any available quantitative analyses or data,
and indicate how the regulations should be amended.
[cir] Question 6: Have the agencies issued similar regulations in
the same area that should be considered together as bodies of
regulation, when assessing the cumulative effects on an insured
depository institution or holding company? If so, please identify the
regulations, why they should be considered together, and any available
analyses or data for the agencies' consideration.
[cir] Question 7: Could any regulations or category of regulation
be streamlined or simplified to reduce unduly burdensome or duplicative
regulatory requirements?
<bullet> Effect on competition.
[cir] Question 8: Do any of the regulations in these categories
create competitive disadvantages for one part of the financial services
industry compared to another or for one type of insured depository
institution compared to another? If so, please identify the regulations
and indicate how they should be amended.
<bullet> Reporting, recordkeeping, and disclosure requirements.
[cir] Question 9: Do any of the regulations in these categories
impose outdated, unnecessary, or unduly burdensome reporting,
recordkeeping, or disclosure requirements on insured depository
institutions or their holding companies?
[cir] Question 10: Could an insured depository institution or its
holding company fulfill any of these requirements through new
technologies (if they are not already permitted to do so) and
experience a burden reduction? If so, please identify the regulations
and indicate how they should be amended.
<bullet> Unique characteristics of a type of institution.
[cir] Question 11: Do any of the regulations in these categories
impose requirements that are unwarranted by the unique characteristics
of a particular type of insured depository institution or holding
company? If so, please identify the regulations and indicate how they
should be amended.
<bullet> Clarity.
[cir] Question 12: Are the regulations in these categories clear
and easy to understand?
[cir] Question 13: Are there specific regulations for which
clarification is needed? If so, please identify the regulations and
indicate how they should be amended.
<bullet> Impact to community banks and other small, insured
depository institutions.
[cir] Question 14: Are there regulations in these categories that
impose outdated, unnecessary, or unduly burdensome requirements on a
substantial number of community banks, their holding companies, or
other small, insured depository institutions or holding companies?
[cir] Question 15: Have the agencies issued regulations pursuant to
a common statute that, as applied by the agencies, create redundancies
or impose inconsistent requirements?
[cir] Question 16: Should any of these regulations issued pursuant
to a common statute be amended or repealed to minimize this impact? If
so, please identify the regulations and indicate how they should be
amended.
[cir] Question 17: Have the effects of any regulations in these
categories changed over time that now have a significant economic
impact on a substantial number of small, insured depository
institutions or holding companies? If so, please identify the
regulations and indicate how they should be amended. The agencies seek
information on (1) the continued need for the rule; (2) the complexity
of the rule; (3) the extent to which the rule overlaps, duplicates or
conflicts with other Federal rules, and, to the extent feasible, with
State and local governmental rules; and (4) the degree to which
technology, economic conditions, or other factors have changed in the
area affected by the rule.
<bullet> Scope of rules.
[cir] Question 18: Is the scope of each rule in these categories
consistent with the intent of the underlying statute(s)?
[cir] Question 19: Could the agencies amend the scope of a rule to
clarify its applicability or reduce the burden, while remaining
faithful to statutory intent? If so, please identify the regulations
and indicate how they should be amended.
Specific Interagency Regulations Issued Since the Last EGRPRA Review
<bullet> Rules of Practice and Procedure: On December 28, 2023, the
agencies along with NCUA published updated rules of practice and
procedure, including both joint uniform rules and agency-specific local
rules, to govern administrative proceedings.\13\ The updated rules are
effective as of April 1, 2024. The new rules recognize the use of
electronic communications in administrative hearings and make various
technical and conforming changes to increase the efficiency and
fairness of administrative adjudications. The rules also apply 12 CFR
part 19 to Federal savings associations and remove the current
administrative practice and procedure-related rules for Federal savings
associations. The agencies jointly amended the uniform rules, and the
OCC, Federal Reserve, and FDIC also amended their local rules.
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\13\ 88 FR 89820 (Dec. 28, 2023).
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<bullet> Appraisals for Higher-Priced Mortgage Loans Exemption
Threshold: The OCC, FRB, and CFPB finalized amendments to the official
interpretations for their regulations that implement section 129H of
the Truth in Lending Act (TILA). Section 129H of TILA establishes
special appraisal requirements for ``higher-risk mortgages,'' termed''
higher-priced mortgage loans'' or ``HPMLs'' in the agencies'
regulations.\14\ The agencies amended the regulations to adjust the
related Consumer Price Index for Urban Wage Earners and Clerical
Workers (CPI-W) exemption threshold for certain loan types, effective
January 1, 2024. The OCC joined other agencies in issuing corresponding
regulations for each year between 2014 and 2022.\15\
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\14\ 88 FR 83311 (Nov. 29, 2023).
\15\ 87 FR 63663 (Oct. 20, 2022); 86 FR 67843 (Nov. 30, 2021);
85 FR 79385 (Dec. 10, 2020); 84 FR 58013 (Oct. 30, 2019); 83 FR
59272 (Nov. 23, 2018); 82 FR 51973 (Nov. 9, 2017); 81 FR 86250 (Nov.
30, 2016); 80 FR 73943 (Nov. 27, 2015); 79 FR 78296 (Dec. 30, 2014).
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<bullet> Real Estate Appraisals: The agencies adopted a final rule
to amend their regulations requiring appraisals of real estate for
certain transactions. The final rule increases the threshold level at
or below which appraisals are not required for commercial real estate
transactions from $250,000 to $500,000.\16\ The final rule defines a
commercial real estate transaction as a real estate-related financial
transaction that is not secured by a single 1-to-4 family residential
property. It excludes all transactions secured by a single 1-to-4
family residential property, and, thus, construction loans secured by a
single 1-
[[Page 99755]]
to-4 family residential property are excluded. For commercial real
estate transactions exempted from the appraisal requirement as a result
of the revised threshold, regulated institutions must obtain an
evaluation of the real property collateral that is consistent with safe
and sound banking practices.
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\16\ 83 FR 15019 (April 9, 2018).
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<bullet> Real Estate Appraisals: The agencies adopted a final rule
to amend the agencies' regulations requiring appraisals of real estate
for certain transactions. The final rule increases the threshold level
at or below which appraisals are not required for residential real
estate transactions from $250,000 to $400,000.\17\ The final rule
defines a residential real estate transaction as a real estate-related
financial transaction that is secured by a single 1-to-4 family
residential property. For residential real estate transactions exempted
from the appraisal requirement as a result of the revised threshold,
regulated institutions must obtain an evaluation of the real property
collateral that is consistent with safe and sound banking practices.
The final rule makes a conforming change to add to the list of exempt
transactions those transactions secured by residential property in
rural areas that have been exempted from the agencies' appraisal
requirement pursuant to the Economic Growth, Regulatory Relief, and
Consumer Protection Act. The final rule requires evaluations for these
exempt transactions. The final rule also amends the agencies' appraisal
regulations to require regulated institutions to subject appraisals for
federally related transactions to appropriate review for compliance
with the Uniform Standards of Professional Appraisal Practice.
---------------------------------------------------------------------------
\17\ 84 FR 53579 (Oct. 8, 2019).
---------------------------------------------------------------------------
<bullet> Net Stable Funding Ratio: The agencies adopted a final
rule to implement a stable funding requirement, known as the net stable
funding ratio (NSFR), for certain large banking organizations. The
final rule established a quantitative metric, the NSFR, to measure the
stability of the funding profile of certain large banking organizations
and requires these banking organizations to maintain minimum amounts of
stable funding to support their assets, commitments, and derivatives
exposures over a one-year time horizon. The final rule applied to
certain large U.S. depository institution holding companies, depository
institutions, and U.S. intermediate holding companies of foreign
banking organizations, each with total consolidated assets of $100
billion or more, together with certain depository institution
subsidiaries (together, covered companies). The final rule also amended
certain definitions in the agencies' liquidity coverage ratio rule that
are also applicable to the NSFR.\18\
---------------------------------------------------------------------------
\18\ 86 FR 9120 (Feb. 11, 2021).
---------------------------------------------------------------------------
Specific OCC Regulations Issued Since the Last EGRPRA Review
<bullet> National Bank and Federal Savings Association Payment
System Memberships: In December 2020, the OCC adopted a rule addressing
national bank and Federal savings association membership in payment
systems.\19\ The rule includes a notice requirement and safety and
soundness reviews.
---------------------------------------------------------------------------
\19\ 85 FR 83686 (Dec. 22, 2020).
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<bullet> Permissible Derivatives Activities for National Banks: In
December 2020, the OCC adopted a rule governing permissible derivative
activities for national banks.\20\ The rule delineates the types of
derivative activities that are permissible and includes notice and
safety and soundness requirements.
---------------------------------------------------------------------------
\20\ 85 FR 83686 (Dec. 22, 2020).
---------------------------------------------------------------------------
<bullet> Collective Investment Funds: In January 2017, the OCC
amended 12 CFR 9.18(b)(1) to require that a national bank make a copy
of the investment fund plan available to the public either at its main
office or on its website.\21\ The rule also permits a national bank to
satisfy the requirement to provide a copy of the plan to any person who
requests it by providing it in either written or electronic form. The
OCC amended 12 CFR 9.18(c)(2) to increase the asset threshold for mini-
funds to $1,500,000, with an annual adjustment for inflation. In March
2020, the OCC revised the OCC's short-term investment fund rule (STIF
Rule) for national banks acting in a fiduciary capacity.\22\ The OCC
amended the rule to add a reservation of authority provision that
addresses the rule's limits on weighted average portfolio maturity,
weighted average portfolio life maturity, and the method for
determining those limits. In August 2020, the OCC issued a rule to
codify the standard withdrawal period for a collective investment fund
and to provide that a national bank that requires a prior notice period
for withdrawals generally must withdraw an account within the prior
notice period or, if permissible under the collective investment fund's
written plan, within one year after prior notice was required.\23\ The
rule also creates a limited exception that allows a national bank, with
OCC approval, to withdraw an account from the collective investment
fund up to one year beyond the standard withdrawal period, with
opportunities for further extensions, provided that certain conditions
are satisfied.
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\21\ 82 FR 8082 (Jan. 23, 2017).
\22\ 85 FR 16888 (Mar. 25, 2020).
\23\ 85 FR 49229 (Aug. 13, 2020).
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<bullet> Municipal Securities Dealers: In March 2014, the OCC
updated its headquarters mailing address.\24\ In January 2017, the OCC
codified an existing requirement for Federal savings associations that
act as municipal securities dealers to file certain forms with the OCC.
The OCC also made minor technical changes to 12 CFR part 10.\25\
---------------------------------------------------------------------------
\24\ 79 FR 15639 (Mar. 21, 2014).
\25\ 82 FR 8082 (Jan. 23, 2017).
---------------------------------------------------------------------------
<bullet> Securities Exchange Act Disclosure Rules: In January 2017,
the OCC adopted a rule designed to update certain relevant existing
rules in accordance with a review of the EGRPRA.\26\ The rule treats
Federal savings associations similar to national banks under the rule
with regard to their periodic reporting obligations under the Exchange
Act. In addition, the updates permit the electronic filing of periodic
reporting requirements, and provide the ability to make technical, non-
substantive edits and clarifications.
---------------------------------------------------------------------------
\26\ 82 FR 8082 (Jan. 23, 2017).
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<bullet> Recordkeeping and Confirmation Requirements for Securities
Transactions (National Banks): In January 2017, the OCC adopted a rule
designed to update certain relevant existing rules in accordance with a
review of the EGRPRA.\27\ The rule clarifies that national banks may
use a third-party service provider for recordkeeping and storage. The
rule also aligns customer notification requirements for national banks
and Federal savings associations and allows for the use of electronic
communications. In October 2018, the OCC and FDIC adopted a rule to
shorten the standard settlement cycle for securities purchased or sold
by national banks.\28\ The rule requires banks to settle most
securities transactions within the number of business days followed by
registered broker dealers in the United States.
---------------------------------------------------------------------------
\27\ 82 FR 8082 (Jan. 23, 2017).
\28\ 83 FR 26347 (Jun. 7, 2018).
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<bullet> Recordkeeping and Confirmation Requirements for Securities
Transactions (Federal Savings Associations): In January 2017, the OCC
adopted a rule designed to update certain relevant existing rules in
accordance with a review of the EGRPRA.\29\ The rule treats Federal
savings associations the same as national banks by reducing records
[[Page 99756]]
maintenance and storage requirements. The rule also reduces the
frequency of statements that must be sent to a customer when a Federal
savings association receives remuneration from any source. In October
2018, the OCC and FDIC adopted a rule to shorten the standard
settlement cycle for securities purchased or sold by Federal savings
associations.\30\ The rule requires Federal savings associations to
settle most securities transactions within the number of business days
followed by registered broker dealers in the United States.
---------------------------------------------------------------------------
\29\ 82 FR 8082 (Jan. 23, 2017).
\30\ 83 FR 26347 (Jun. 7, 2018).
---------------------------------------------------------------------------
<bullet> Securities Offering Disclosure Rules: In January 2017, the
OCC made amendments to 12 CFR part 16 as part of the EGRPRA process to
integrate Federal savings associations into 12 CFR part 16 and delete
former 12 CFR part 197, which previously applied to the securities
activities of Federal savings associations.\31\ These amendments also
took provisions from former 12 CFR part 197 pertaining to electronic
filings and adapted them in 12 CFR part 16 to enable electronic filings
under the latter. The OCC made further technical amendments in July
2020 regarding the form and content of registration statements and
requests for interpretative advice and no-objection letters.\32\
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\31\ 82 FR 8082 (Jan. 23, 2017).
\32\ 85 FR 42630 (Jul. 14, 2020).
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<bullet> Applications for Stay or Review of Disciplinary Actions
Imposed by Registered Clearing Agencies: As part of the OCC's
reorganization of the 12 CFR part 19 local rules, 12 CFR 19.135,
``Applications for stay or review of disciplinary actions imposed by
registered clearing agencies,'' was redesignated as 12 CFR 19.121(d).
There was no change to the substance of the provision.
<bullet> Securities and Borrowings: The OCC has made minor
revisions regarding provisions relating to Federal savings association
securities and borrowing several times. The OCC removed certain
provisions in 2015 as part of the integration of national bank and
Federal savings association rules.\33\ The OCC made technical and
conforming edits in 2019 and 2020.\34\
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\33\ 80 FR 28480 (May 18, 2015). In addition, the OCC issued a
technical correction relating to offers and sales of securities at
an office of a Federal savings association in 2015. 80 FR 79460
(Dec. 22, 2015).
\34\ 84 FR 56376 (Oct. 22, 2019); 84 FR 64193 (Nov. 21, 2019)
(amendment of effective date and correction); 84 FR 71735 (Dec. 30,
2019) (technical amendments, correction); 85 FR 42630 (Jul. 14,
2020).
---------------------------------------------------------------------------
<bullet> Federal Savings Association Financial Management Policies:
In January 2017, as a result of the previous EGRPRA review, OCC revised
its regulations for Federal savings associations for financial
derivatives to clarify the rule.\35\
---------------------------------------------------------------------------
\35\ 82 FR 8110 (Jan. 23, 2017).
---------------------------------------------------------------------------
<bullet> Recovery Planning Guidelines: In 2016, the OCC published
enforceable standards for insured national banks, Federal savings
associations, and Federal branches of foreign banks with $50 billion or
more in average total consolidated assets.\36\ In 2018, the OCC
increased this threshold to $250 billion or more.\37\ In 2024, the OCC
adjusted the threshold to $100 billion or more, incorporated a testing
standard, and clarified the role of non-financial (operational and
strategic) risk in recovery planning.\38\ The guidelines provide a
comprehensive framework for evaluating the financial effects of severe
stress that may affect a covered institution and options it may take to
remain viable under such stress. The OCC also made technical changes to
12 CFR part 30 when it issued these guidelines.
---------------------------------------------------------------------------
\36\ 81 FR 66800 (Sep. 29, 2016).
\37\ 83 FR 66607 (Dec. 27, 2018).
\38\ 89 FR 84255 (Oct. 22, 2024).
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<bullet> Voluntary Liquidation: The OCC integrated the provisions
related to national bank and Federal savings association voluntary
liquidation.\39\ The OCC made minor updates to this regulation in
January 2017,\40\ as part of the previous EGRPRA review, and December
2020.\41\
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\39\ 80 FR 28346 (May 18, 2015).
\40\ 82 FR 8082 (Jan. 23, 2017).
\41\ 85 FR 80404 (Dec. 11, 2020).
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<bullet> Other Real Estate Owned: The OCC integrated its
regulations for national banks and Federal savings associations.\42\
---------------------------------------------------------------------------
\42\ 84 FR 56369 (Oct. 22, 2019).
---------------------------------------------------------------------------
<bullet> Legal Lending Limits: The OCC revised 12 CFR part 32 to
make technical conforming amendments to certain definitions and
provisions to make 12 CFR part 32 consistent with the capital
framework,\43\ integration of Federal savings associations into OCC
regulations relating to policies and procedures,\44\ implementation of
the current expected credit losses methodology (CECL),\45\ the
community bank leverage ratio framework,\46\ and the standardized
approach for counterparty credit risk (SA-CCR).\47\ In addition, the
OCC revised 12 CFR part 32 to conform with and clarify applicability of
certain limits in Call Report instructions.\48\
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\43\ 79 FR 11300 (February 28, 2014).
\44\ 80 FR 28346 (May 18, 2015).
\45\ 84 FR 4222 (February 14, 2019).
\46\ 84 FR 61776 (November 13, 2019); 84 FR 69296 (December 18,
2019).
\47\ 85 FR 4362 (January 24, 2020).
\48\ 85 FR 42630 (July 14, 2020); 85 FR 61809 (October 1, 2020).
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<bullet> Affiliates Transactions: As part of the previous EGRPRA
review, the OCC integrated its regulations and added provisions for
national banks and Federal savings association to request
exemptions.\49\
---------------------------------------------------------------------------
\49\ 82 FR 8082 (Jan. 23, 2017).
---------------------------------------------------------------------------
<bullet> Federal Savings Association Financial Management Policies:
In response to the last EGRPRA review, the OCC revised its regulations
for Federal savings associations for financial derivatives to clarify
the rule.\50\
---------------------------------------------------------------------------
\50\ 82 FR 8110 (Jan. 23, 2017).
---------------------------------------------------------------------------
Specific Board Regulations Issued Since the Last EGRPRA Review
<bullet> Financial Market Utilities: The Board issued a final rule
amending the requirements relating to operational risk management in
the Board's Regulation HH, which applies to certain financial market
utilities (FMUs) that have been designated as systemically important
(designated FMUs) by the Financial Stability Oversight Council (FSOC)
under title VIII of the Dodd-Frank Act. The amendments updated,
refined, and added specificity to the operational risk management
requirements in Regulation HH to reflect changes in the operational
risk, technology, and regulatory landscape in which designated FMUs
operate. The final rule also required specific incident-notification
requirements.\51\
---------------------------------------------------------------------------
\51\ 89 FR 18749 (March 15, 2024).
---------------------------------------------------------------------------
<bullet> Enhanced Prudential Standards: The Board established risk-
based categories for determining prudential standards for large U.S.
banking organizations and foreign banking organizations, consistent
with section 165 of the Dodd-Frank Act, as amended by the Economic
Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA), and
with the Home Owners' Loan Act. The rule amended certain prudential
standards, including standards relating to liquidity, risk management,
and single-counterparty credit limits, to reflect the risk profile of
banking organizations under each category; applied prudential standards
to certain large savings and loan holding companies using the same
categories; and made corresponding changes to reporting forms.\52\
---------------------------------------------------------------------------
\52\ 84 FR 59032 (Nov. 1, 2019).
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<bullet> Single-Counterparty Credit Limits: The Board established
single-counterparty credit limits for bank holding companies and
foreign banking organizations with $250 billion or more
[[Page 99757]]
in total consolidated assets, including any U.S. intermediate holding
company of such a foreign banking organization with $50 billion or more
in total consolidated assets, and any bank holding company identified
as a global systemically important bank holding company under the
Board's capital rules. The final rule implemented section 165(e) of the
Dodd-Frank Act, which requires the Board to impose limits on the amount
of credit exposure that such a bank holding company or foreign banking
organization can have to an unaffiliated company in order to reduce the
risks arising from the company's failure.\53\
---------------------------------------------------------------------------
\53\ 83 FR 38460 (Aug. 6, 2018).
---------------------------------------------------------------------------
<bullet> Extensions of Credit by Federal Reserve Banks: The Board
revised provisions in its Regulation A regarding the establishment of
the primary credit rate in a financial emergency and deleted the
provisions relating to the use of credit ratings for collateral for
extensions of credit under the former Term Asset-Backed Securities Loan
Facility.\54\
---------------------------------------------------------------------------
\54\ 83 FR 21167 (May 9, 2018).
---------------------------------------------------------------------------
<bullet> Qualified Financial Contracts: The Board issued a rule
imposing certain restrictions on firms with respect to qualified
financial contracts. The rule applied to global systemically important
banking organization and certain subsidiaries.\55\
---------------------------------------------------------------------------
\55\ 82 FR 42882 (Sept. 12, 2017).
---------------------------------------------------------------------------
<bullet> Resolution Plans: The Board and FDIC issued a rule
implementing the resolution planning requirements under Dodd Frank. The
rule also established risk-based categories for determining the
application of the resolution planning requirement to certain U.S. and
foreign banking organizations. The final rule also extended the default
resolution plan filing cycle, allowed for more focused resolution plan
submissions, and improved certain aspects of the resolution planning
rule.\56\
---------------------------------------------------------------------------
\56\ 84 FR 59194 (Nov. 1, 2019).
---------------------------------------------------------------------------
Specific FDIC Regulations Issued Since the Last EGRPRA Review
<bullet> Resolution Plans: The FDIC issued a rule to require the
submission of resolution plans by insured depository institutions
(IDIs) with $100 billion or more in total assets and informational
filings by IDIs with at least $50 billion but less than $100 billion in
total assets. The rule modified the content and timing of full
resolution submissions, as well as interim supplements to those
submissions provided to the FDIC. The rule also enhanced how the
credibility of full resolution submissions will be assessed, expanded
expectations regarding engagement and capabilities testing, and
explained expectations regarding the FDIC's review, feedback, and
enforcement of IDIs' compliance with the rule.\57\
---------------------------------------------------------------------------
\57\ 89 FR 56620 (July 9, 2024).
---------------------------------------------------------------------------
<bullet> Recordkeeping for Timely Deposit Insurance Determination:
In 2019, the FDIC amended its rules in 12 CFR part 370 to clarify its
requirements for recordkeeping for timely deposit insurance
determination, to better align the burdens of the rule with the
benefits, and to make technical corrections.\58\
---------------------------------------------------------------------------
\58\ 84 FR 37020 (July 30, 2019).
---------------------------------------------------------------------------
<bullet> Recordkeeping Requirements for Qualified Financial
Contracts: The FDIC amended its regulations regarding recordkeeping
requirements for qualified financial contracts (QFCs) in 2017 to
augment the scope of QFC records required to be maintained by an IDI
that is subject to the FDIC's recordkeeping requirements and that has
total consolidated assets equal to or greater than $50 billion or is a
consolidated affiliate of a member of a corporate group with one or
more members of which are subject to the QFC recordkeeping requirements
set forth in the regulations adopted by the Department of the Treasury
(a ``full scope entity''); for all other IDIs subject to the FDIC's QFC
recordkeeping requirements, added and deleted a limited number of data
requirements and made certain formatting changes with respect to the
QFC recordkeeping requirements; required full scope entities to keep
QFC records of certain of their subsidiaries; provided an exemption
process; and included certain other changes, including changes that
provided additional time for certain IDIs in a troubled condition to
comply with the regulations.\59\
---------------------------------------------------------------------------
\59\ 82 FR 35584 (July 31, 2017).
---------------------------------------------------------------------------
<bullet> Limited Exception for a Capped Amount of Reciprocal
Deposits from Treatment as Brokered Deposits: In 2019, the FDIC amended
its regulations on brokered deposits and interest rate restrictions to
conform with changes to section 29 of the Federal Deposit Insurance Act
made by section 202 of the EGRRCPA related to reciprocal deposits. The
FDIC also made conforming amendments to the FDIC's regulations
governing deposit insurance assessments.\60\
---------------------------------------------------------------------------
\60\ 84 FR 1346 (Feb. 4, 2019); 84 FR 15095 (April 15, 2019).
---------------------------------------------------------------------------
<bullet> Unsafe and Unsound Banking Practices Relating to Brokered
Deposits and Interest Rate Restrictions: In 2021, the FDIC revised
regulations relating to the brokered deposits and interest rate
restrictions that apply to less than well capitalized IDIs. For
brokered deposits, the FDIC issued a rule to establish a new framework
for analyzing certain provisions of the ``deposit broker'' definition,
including ``facilitating'' and ``primary purpose.'' For the interest
rate restrictions, the FDIC amended its methodology for calculating the
national rate, the national rate cap, and the local market rate
cap.\61\
---------------------------------------------------------------------------
\61\ 86 FR 6742 (Jan. 22, 2021).
---------------------------------------------------------------------------
<bullet> Registration of Securities Transfer Agents: The FDIC
issued a rule in 2016 to amend its regulations requiring insured State
nonmember banks, or subsidiaries of such banks, and insured State
savings associations and subsidiaries of such State savings
associations, that act as transfer agents for qualifying securities
under section 12 of the Securities Exchange Act of 1934 to register
with the FDIC. The rule also revised the definition of qualifying
securities to reflect statutory changes to the Securities and Exchange
Act of 1934.\62\
---------------------------------------------------------------------------
\62\ 81 FR 27295 (May 6, 2016).
---------------------------------------------------------------------------
V. The Agencies' Review of Regulations Under Section 610 of the
Regulatory Flexibility Act (RFA)
Consistent with past practice, the agencies will use the EGRPRA
review to satisfy their respective obligations under section 610 of the
RFA.\63\ To that end, for each rule that has a significant impact on a
substantial number of small entities issued in the last 10 years, the
agencies invite comment on (1) the continued need for the rule; (2) the
complexity of the rule; (3) the extent to which the rule overlaps,
duplicates or conflicts with other Federal rules, and, to the extent
feasible, with State and local governmental rules; and (4) the length
of time since the rule has been evaluated or the degree to which
technology, economic conditions, or other factors have changed in the
area affected by the rule. The purpose of the
[[Page 99758]]
review will be to determine whether such rules should be continued
without change, or should be amended or rescinded, consistent with the
stated objectives of applicable statutes, to minimize any significant
economic impact of the rules upon a substantial number of such small
entities.
---------------------------------------------------------------------------
\63\ Section 610 of the Regulatory Flexibility Act, 5 U.S.C.
610, imposes a continuing obligation on the agencies to review
regulations that may have a significant economic impact upon a
substantial number of small entities within 10 years after a final
rulemaking is published. A subset of the rules the agencies will
review under EGRPRA will also be reviewed under the section 610
review criteria. The agencies will indicate which rules are subject
to section 610 review. The factors the agencies consider in
evaluating a rule under 5 U.S.C. 610 are (1) the continued need for
the rule; (2) the nature of complaints or comments received
concerning the rule from the public; (3) the complexity of the rule;
(4) the extent to which the rule overlaps, duplicates or conflicts
with other Federal rules, and, to the extent feasible, with State
and local governmental rules; and (5) the length of time since the
rule has been evaluated or the degree to which technology, economic
conditions, or other factors have changed in the area affected by
the rule.
---------------------------------------------------------------------------
The agencies have not identified any rules pertaining to Rules of
Procedure; Safety and Soundness; and Securities that would have a
significant impact on a substantial number of small entities.\64\ The
agencies will consider public comments submitted through the EGRPRA
review process and agency experience to identify regulations where the
agencies can reduce burdens that have a significant impact on a
substantial number of small, insured depository institutions.\65\
---------------------------------------------------------------------------
\64\ The FDIC certified that the Unsafe and Unsound Banking
Practices Relating to Brokered Deposits and Interest Rate
Restrictions rule issued in 2021 would not have a significant
economic effect on a substantial number of small entities, after
conducting a full Final Regulatory Flexibility Act analysis. Because
some expected effects were hard to assess or accurately quantify,
the FDIC published a small entity compliance guide.
\65\ The review will be consistent with the requirements of a
Regulatory Flexibility Act, section 610 review. The agencies will
determine whether particular rules should be continued without
change, amended, or rescinded, consistent with the objectives of
applicable statutes, to minimize any significant economic impact of
the rules on a substantial number of small, insured depository
institutions.
--------------------------------------------------------------------------------------------------------------------------------------------------------
State non-member Federal savings State savings BHCs & FHCs -- --
Subject National banks State member banks banks associations associations -- -- -- SLHCs
--------------------------------------------------------------------------------------------------------------------------------------------------------
Rules of Procedure: Interagency
Regulations:
Uniform Rules of 12 CFR part 19.... 12 CFR part 263... 12 CFR part 308... 12 CFR part 19.... 12 CFR part 308... 12 CFR part 263.
Practice and Procedure.
OCC Regulations
Voluntary Liquidation of 12 CFR 5.48....... .................. .................. 12 CFR 5.48.......
a National Bank or
Federal Savings
Association.
FDIC Regulations \1\
Resolution and 12 CFR part 360... 12 CFR part 360... 12 CFR part 360... 12 CFR part 360... 12 CFR part 360...
Receivership Rules.
Recordkeeping for Timely 12 CFR part 370... 12 CFR part 370... 12 CFR part 370... 12 CFR part 370... 12 CFR part 370...
Deposit Insurance
Determination.
Recordkeeping 12 CFR part 371... 12 CFR part 371... 12 CFR part 371... 12 CFR part 371... 12 CFR part 371...
Requirements for
Qualified Financial
Contracts.
Restrictions on Sale of 12 CFR part 340... 12 CFR part 340... 12 CFR part 340... 12 CFR part 340... 12 CFR part 340...
Assets by the Federal
Deposit Insurance
Corporation.
Safety and Soundness: Interagency
Regulations:
Minimum Security 12 CFR part 21, 12 CFR 208.61 12 CFR part 326, 12 CFR part 168... 12 CFR part 326,
Procedures. subpart A. [Reg. H]. subpart A. subpart A.
Appraisal Standards for 12 CFR part 34, 12 CFR 208.50 12 CFR part 323... 12 CFR part 34, 12 CFR part 323 12 CFR part 225,
Federally Related subpart C. [Reg. H]; 12 CFR subpart C. subpart G [Reg.
Transactions. part 225, subpart Y].
G [Reg. Y].
Real Estate Lending 12 CFR part 34, 12 CFR part 208, 12 CFR part 365, 12 CFR 160.101.... 12 CFR part 365,
Standards. subpart D. appx. C [Reg H]. subpart A. subpart A.
Appraisals: Higher- 12 CFR part 34, 12 CFR 226.43; 12 12 CFR part 1026 12 CFR part 34, 12 CFR part 1026 12 CFR 226.43; 12
Priced Mortgages. subpart G. CFR part 226, [Reg. Z]. subpart G. [Reg. Z]. CFR part 226,
appx. N and O, appx. N and O,
and supp. I [Reg. and supp. I [Reg.
Z]. Z].
-- -- -- -- --
12 CFR 226.43; 12
CFR part 226,
appx. N and O,
and supp. I [Reg.
Z].
Appraisal Management 12 CFR part 34, 12 CFR part 225, 12 CFR part 323, 12 CFR part 34, 12 CFR part 323,
Company Minimum subpart H. subpart M [Reg. subpart B. subpart H. subpart B.
Standards. Y].
Credit Risk Retention... 12 CFR part 43.... 12 CFR part 244 12 CFR part 373... 12 CFR part 43.... 12 CFR part 373 12 CFR part 244
[Reg. RR]. [Reg. RR].
-- -- -- -- --
12 CFR part 244
[Reg. RR].
Frequency of Safety and 12 CFR 4.6-.7..... 12 CFR 208.64 12 CFR 337.12..... 12 CFR 4.6 12 CFR 337.12.....
Soundness Examination. [Reg. H]. (See also: 12 CFR
163.170).
Liquidity Risk.......... 12 CFR part 50.... 12 CFR part 249 12 CFR part 329... 12 CFR part 50.... 12 CFR part 329 12 CFR part 249
[Reg. WW]. [Reg. WW].
-- -- -- -- --
12 CFR part 249
[Reg. WW].
Mandatory Contractual 12 CFR part 47.... 12 CFR part 252, 12 CFR part 382... 12 CFR part 47.... 12 CFR part 382 12 CFR part 252,
Requirements for subpart I [Reg. subpart I [Reg.
Qualified Financial YY]. YY].
Contracts.
[[Page 99759]]
Resolution Plans........ 12 CFR 360.10..... 12 CFR 360.10..... 12 CFR 360.10..... 12 CFR 360.10..... 12 CFR 360.10..... 12 CFR part 381;
12 CFR part 243
[Reg. QQ].
Safety and Soundness 12 CFR part 30 12 CFR part 208, 12 CFR part 364, 12 CFR part 30 12 CFR part 364,
Standards. generally; 12 CFR appx. D-1 [Reg. appx. A. generally; 12 CFR appx. A.
part 30, appx. A. H]. part 30, appx. A.
Transactions with 12 CFR part 223 12 CFR part 223 12 CFR part 223 12 CFR part 223 12 CFR part 223
Affiliates. [Reg. W]; 12 CFR [Reg. W]. [Reg. W]. [Reg. W]; 12 CFR [Reg. W].
part 31. part 31.
OCC Regulations:............
Heightened Standards 12 CFR part 30, .................. .................. 12 CFR part 30,
Guidelines. appx. D. appx. D.
Lending Limits.......... 12 CFR part 32.... .................. .................. 12 CFR part 32.... 12 CFR part 32....
Recovery Planning 12 CFR part 30, .................. .................. 12 CFR part 30,
Guidelines. appx. E. appx. E.
Other Real Estate Owned. 12 CFR part 34, .................. .................. 12 CFR part 34,
subpart E. subpart E.
Federal Savings .................. .................. .................. 12 CFR part 163,
Association Financial subpart F.
Management Policies.
Federal Savings .................. .................. .................. 12 CFR part 160... 12 CFR part 160...
Association Lending and
Investment --
Additional Safety and
Soundness Limitations.
Board Regulations:..........
Appraisals: Appraiser .................. 12 CFR 226.42; 12 12 CFR part 1026 .................. .................. 12 CFR 226.42; 12
Independence. CFR part 226, [Reg. Z]. CFR part 226,
supp. I [Reg. Z]. supp. I [Reg. Z].
-- -- -- -- --
12 CFR 226.42; 12
CFR part 226,
supp. I [Reg. Z].
Definitions related to .................. .................. .................. .................. .................. 12 CFR part 242
the Financial Stability [Reg. PP].
Oversight Council.
Enhanced Prudential .................. .................. .................. .................. .................. 12 CFR part 252,
Standards Risk subpart C [Reg.
Committee Requirement YY].
(for certain BHCs) -- -- -- -- --
Standards for BHCs with 12 CFR part 238,
consolidated assets $50 subpart M [Reg.
billion or more and LL].
less than $100B.
Enhanced Prudential .................. .................. .................. .................. .................. 12 CFR 252.33
Standards Risk [Reg. YY].
Committee Requirement -- -- -- -- --
(for certain BHCs) 12 CFR 238.122
Standards for BHCs with [Reg. LL].
consolidated assets
$100 billion or more.
Extensions of Credit by 12 CFR part 201 12 CFR part 201 12 CFR part 201 12 CFR part 201 12 CFR part 201
Federal Reserve Banks. [Reg. A]. [Reg. A]. [Reg. A]. [Reg. A]. [Reg. A].
Financial Market 12 CFR part 234 12 CFR part 234 12 CFR part 234 12 CFR part 234 12 CFR part 234 12 CFR part 234
Utilities. [Reg. HH]. [Reg. HH]. [Reg. HH]. [Reg. HH]. [Reg. HH]. [Reg. HH].
Limitations on Interbank 12 CFR part 206 12 CFR part 206 12 CFR part 206 12 CFR part 206 12 CFR part 206
Liabilities. [Reg. F]. [Reg. F]. [Reg. F]. [Reg. F]. [Reg. F].
Securities Holding .................. .................. .................. .................. .................. 12 CFR part 241
Companies. [Reg. OO].
Single Counterparty .................. .................. .................. .................. .................. 12 CFR part 252,
Credit Limit. subparts H and Q
[Reg. YY].
FDIC Regulations:
Annual Independent 12 CFR part 363... 12 CFR part 363... 12 CFR part 363... 12 CFR part 363... 12 CFR part 363...
Audits and Reporting
Requirements.
Unsafe and Unsound .................. .................. 12 CFR 337.2......
Banking Practices
(Standby Letters of
Credit).
Unsafe and Unsound Banking 12 CFR 337.6...... 12 CFR 337.6...... 12 CFR 337.6...... 12 CFR 337.6...... 12 CFR 337.6......
Practices (Brokered Deposits).
Securities:
Interagency Regulations:
Banks as Registered 12 CFR 19.135..... 12 CFR 208.32-33 12 CFR part 308,
Clearing Agencies. [Reg. H]. subpart S.
Banks as Securities 12 CFR 9.20....... 12 CFR 208.31 12 CFR part 341...
Transfer Agents. [Reg. H].
Government Securities 12 CFR part 13.... 12 CFR 208.37 12 CFR part 368...
Sales Practices. [Reg. H].
[[Page 99760]]
Recordkeeping and 12 CFR part 12.... 12 CFR 208.34 12 CFR part 344... 12 CFR part 151... 12 CFR part 344...
Confirmation of [Reg. H].
Securities Transactions
Effected by Banks.
Reporting Requirements 12 CFR part 11.... 12 CFR 208.36 12 CFR part 335... 12 CFR part 11.... 12 CFR part 335;
for Reported Securities [Reg. H]. 12 CFR part 390,
Under the Securities subpart Q; 12 CFR
Exchange Act of 1934. part 390, subpart
W.
Securities Offerings.... 12 CFR part 16.... .................. 12 CFR part 335... 12 CFR part 16.... 12 CFR part 335;
12 CFR part 390,
subpart Q; 12 CFR
part 390, subpart
W.
OCC Regulations:
Municipal Securities 12 CFR part 10.... .................. .................. 12 CFR part 10....
Dealer Activities of
Banks.
Federal Savings .................. .................. .................. 12 CFR part 169... 12 CFR part 169...
Associations Proxies.
Federal Savings .................. .................. .................. 12 CFR 163.5; 12
Associations Rules on CFR part 163,
the Issuance and Sale subpart C.
of Institution
Securities.
Board Regulations:
Credit by Banks and 12 CFR part 221 12 CFR part 221 12 CFR part 221 12 CFR part 221 12 CFR part 221 12 CFR part 221
Persons Other than [Reg. U]. [Reg. U]. [Reg. U]. [Reg. U]. [Reg. U]. [Reg. U].
Brokers or Dealers for -- -- -- -- --
the Purpose of 12 CFR part 221
Purchasing or Carrying [Reg. U].
Margin Stock.
Credit by Brokers and .................. .................. .................. .................. .................. 12 CFR part 220
Dealers. [Reg. T].
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\1\ The Orderly Liquidation Authority subject was included in the chart published on Feb. 6, 2024 (89 FR 8084) but FDIC staff has further reviewed the
regulations, 12 CFR part 380, and believes that these rules are not subject to EGRPRA. This subject has been removed from the chart.
Michael J. Hsu,
Acting Comptroller of the Currency.
By order of the Board of Governors of the Federal Reserve
System.
Ann E. Misback,
Secretary of the Board.
Federal Deposit Insurance Corporation.
By order of the Board of Directors.
Dated at Washington, DC, on November 20, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-28939 Filed 12-10-24; 8:45 am]
BILLING CODE 4810-33-P; 6210-01-P; 6714-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on December 11, 2024.
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.