Request for Burden Reduction Recommendations; Rules Relating to Banking Operations; Directors, Officers and Employees; and Rules of Procedure; Economic Growth and Regulatory Paperwork Reduction Act of 1996 Review, 46779-46785 [05-15923]

Download as PDF 46779 Proposed Rules Federal Register Vol. 70, No. 154 Thursday, August 11, 2005 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. DEPARTMENT OF AGRICULTURE Farm Service Agency 7 CFR Part 762 RIN 0560–AG46 Interest Assistance Program AGENCY: Farm Service Agency, USDA. ACTION: Proposed rule; correction and extension of comment period. SUMMARY: This document corrects the email address for submission of public comments on the proposed rule regarding the Farm Service Agency’s (FSA’s) Interest Assistance Program published June 22, 2005, and extends the comment period to ensure that all public comments are received by the Agency. The original comment period for the proposed rule closes on August 22, 2005, and FSA is extending it until September 6, 2005. Respondents who sent comments to the earlier e-mail address are encouraged to contact the person named below to find out if their comments were received and re-submit them to the e-mail address below if necessary. DATES: The comment due date for the proposed rule published June 22, 2005 (70 FR 36055), is extended from August 22, 2005, to September 6, 2005. FOR FURTHER INFORMATION CONTACT: Tracy L. Jones, Senior Loan Officer, Farm Service Agency; telephone: (202) 720–6771; facsimile: (202) 720–6797; Email: Tracy.Jones@wdc.usda.gov. Persons with disabilities who require alternative means for communication (Braille, large print, audio tape, etc.) should contact the USDA Target Center at (202) 720–2600 (voice and TDD). All comments and supporting documents on this rule may be viewed by contacting the information contact. All comments received, including names and addresses, will become a matter of public record. SUPPLEMENTARY INFORMATION: (1) This document corrects the proposed rule regarding FSA’s Interest Assistance Program published June 22, 2005 (70 FR VerDate jul<14>2003 14:00 Aug 10, 2005 Jkt 205001 36055–36060). Due to a computer system upgrade in FSA, some e-mail addresses were changed and, while the original addresses still work in most cases, some e-mail may not be received by the correct person. Accordingly, in the proposed rule, in the first column, in the ADDRESSES section, the e-mail address shown, ‘‘Tracy_Jones@wdc.usda.gov’’ is corrected to read ‘‘Tracy.Jones@wdc.usda.gov.’’ (2) As a result of the correction, this document also extends the comment period until September 6, 2005 in order to ensure that the public can submit timely comments. Signed in Washington, DC, on August 5, 2005. Thomas B. Hofeller, Acting Administrator, Farm Service Agency. [FR Doc. 05–15864 Filed 8–10–05; 8:45 am] BILLING CODE 3410–05–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency 12 CFR Chap. I [Docket No. 05–15] BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 12 CFR Chap. II [Docket No. OP–1232] FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Chap. III DEPARTMENT OF THE TREASURY Office of Thrift Supervision System (Board); Federal Deposit Insurance Corporation (FDIC); and Office of Thrift Supervision (OTS), Treasury. Notice of regulatory review; request for comments. ACTION: SUMMARY: The OCC, Board, FDIC, and OTS (‘‘we’’ or ‘‘the Agencies’’) are reviewing our regulations to identify outdated, unnecessary, or unduly burdensome regulatory requirements pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). Today, we request your comments and suggestions on ways to reduce burden in rules we have categorized as Banking Operations; Directors, Officers and Employees; and Rules of Procedure. All comments are welcome. We specifically invite comment on the following issues: whether statutory changes are needed; whether the regulations contain requirements that are not needed to serve the purposes of the statutes they implement; the extent to which the regulations may adversely affect competition; whether the cost of compliance associated with reporting, recordkeeping, and disclosure requirements, particularly on small institutions, is justified; whether any regulatory requirements are inconsistent or redundant; and whether any regulations are unclear. We will analyze the comments received and propose burden-reducing changes to our regulations where appropriate. Some of your suggestions for burden reduction might require legislative changes. Where legislative changes would be required, we will consider your suggestions in recommending appropriate changes to Congress. Written comments must be received no later than November 9, 2005. DATES: 12 CFR Chap. V [No. 2005–26] You may submit comments by any of the following methods: EGRPRA Web site: https:// www.EGRPRA.gov. • Comments submitted at the Agencies’ joint Web site will automatically be distributed to all the Agencies. Comments received at the EGRPRA Web site and by other means will be posted on the Web site to the extent possible. ADDRESSES: Request for Burden Reduction Recommendations; Rules Relating to Banking Operations; Directors, Officers and Employees; and Rules of Procedure; Economic Growth and Regulatory Paperwork Reduction Act of 1996 Review AGENCIES: Office of the Comptroller of the Currency (OCC), Treasury; Board of Governors of the Federal Reserve PO 00000 Frm 00001 Fmt 4702 Sfmt 4702 E:\FR\FM\11AUP1.SGM 11AUP1 46780 Federal Register / Vol. 70, No. 154 / Thursday, August 11, 2005 / Proposed Rules Individual agency addresses: You are also welcome to submit comments to the Agencies at the following contact points (due to delays in paper mail delivery in the Washington area, commenters may prefer to submit their comments by alternative means): OCC: You may submit comments, identified by [docket ##], by any of the following methods: • E-mail: regs.comments@occ.treas.gov. Include [docket ##] in the subject line of the message. Please include your name and address. • Fax: (202) 874–4448. • Mail: Public Information Room, Office of the Comptroller of the Currency, 250 E Street, SW., Mailstop 1–5, Washington, DC 20219. Attention: Docket ##. Public Inspection: You may inspect and photocopy comments at the Public Information Room. You can make an appointment to inspect the comments by calling (202) 874–5043. Board: You may submit comments, identified by Docket Number ##, by any of the following methods: • Agency Web site: https:// www.federalreserve.gov. Follow the instructions for submitting comments at https://www.federalreserve.gov/ generalinfo/foia/ProposedRegs.cfm. • Federal eRulemaking Portal: https:// www.regulations.gov. Follow the instructions for submitting comments. • E-mail: regs.comments@federalreserve.gov. Include docket number in the subject line of the message. • Fax: (202) 452–3819 or (202) 452– 3102. • Mail: Jennifer J. Johnson, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, NW., Washington, DC 20551. All public comments are available from the Board’s Web site at https:// www.federalreserve.gov/generalinfo/ foia/ProposedRegs.cfm, as submitted, except as necessary for technical reasons. Accordingly, your comments will not be edited to remove any identifying or contact information. Public comments may also be viewed electronically or in paper in Room MP– 500 of the Board’s Martin Building (20th and C Streets, NW.) between 9 a.m. and 5 p.m. on weekdays. FDIC: You may submit comments, identified as EGRPRA burden reduction comments, by any of the following methods: • Agency Web site: https:// www.fdic.gov/regulations/laws/federal/ propose.html. • E-mail: comments@fdic.gov. Include ‘‘EGRPRA burden reduction comment’’ in the subject line of the message. VerDate jul<14>2003 14:00 Aug 10, 2005 Jkt 205001 • Mail: Robert E. Feldman, Executive Secretary, Federal Deposit Insurance Corporation, 550 17th Street, NW., Washington, DC 20429. • Hand Delivery: Comments may be hand delivered to the guard station at the rear of the 550 17th Street Building (located on F Street) on business days between 7 a.m. and 5 p.m. Public Inspection: You may inspect comments at the FDIC Public Information Center, Room 100, 801 17th Street, NW., between 9 a.m. and 4:30 p.m. on business days. OTS: You may submit comments, identified by ‘‘No. ##.’’ by any of the following methods: • Federal eRulemaking Portal: https:// www.regulations.gov. Follow the instructions for submitting comments. • E-Mail: regs.comments@ots.treas.gov. Include ‘‘No. ##’’ in the subject line of the message, and provide your name and telephone number. • Fax: (202) 906–6518. • Mail: Regulation Comments, Chief Counsel’s Office, Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552. • Hand Delivery: Comments may be hand delivered to the Guard’s Desk, East Lobby Entrance, 1700 G Street, NW., from 9 a.m. to 4 p.m. on business days, Attention: Regulation Comments, Chief Counsel’s Office. Public Inspection: OTS will post comments and the related index on the OTS Internet Site at https:// www.ots.treas.gov/ pagehtml.cfm?catNumber=67&an=1. In addition, you may inspect comments at the Public Reading Room, 1700 G Street, NW., by appointment. To make an appointment for access, call (202) 906– 5922, send an e-mail to public.info@ots.treas.gov, or send a fax to (202) 906–7755. (Please identify the material you would like to inspect to assist us in serving you.) OTS schedules appointments on business days between 10 a.m. and 4 p.m. In most cases, appointments will be available the next business day following the date OTS receives a request. FOR FURTHER INFORMATION CONTACT: OCC • Heidi Thomas, Special Counsel, Legislative and Regulatory Activities Division, (202) 874–5090. • Lee Walzer, Counsel, Legislative and Regulatory Activities Division, (202) 874–5090. Board: • Patricia A. Robinson, Assistant General Counsel, Legal Division, (202) 452–3005. • Michael J. O’Rourke, Counsel, Legal Division, (202) 452–3288. PO 00000 Frm 00002 Fmt 4702 Sfmt 4702 • John C. Wood, Counsel, Division of Consumer and Community Affairs, (202) 452–2412. • Kevin H. Wilson, Supervisory Financial Analyst, Division of Banking Supervision and Regulation, (202) 452– 2362. • For users of Telecommunications Device for the Deaf (TDD) only, contact (202) 263–4869. FDIC • Claude A. Rollin, Special Assistant to the Vice Chairman, (202) 898–8741. • Steven D. Fritts, Associate Director, Division of Supervision and Consumer Protection, (202) 898–3723. • Ruth R. Amberg, Senior Counsel, Legal Division, (202) 898–3736. • Susan van den Toorn, Counsel, Legal Division, (202) 898–8707. OTS • Glenn Gimble, Senior Project Manager, Thrift Policy, Supervision Policy, (202) 906–7158. • Josephine Battle, Program Analyst, Thrift Policy, Supervision Policy, (202) 906–6870. • Karen Osterloh, Special Counsel, Regulations and Legislation Division, Chief Counsel’s Office, (202) 906–6639. SUPPLEMENTARY INFORMATION: I. Overview of the EGRPRA Review and the Steps Taken So Far The Agencies 1 are asking for your comments and suggestions on ways in which we can reduce regulatory burden consistent with our statutory obligations. Today, we request your input to help us identify which regulatory requirements in three categories—Banking Operations; Directors, Officers and Employees; and Rules of Procedure—are outdated, unnecessary, or unduly burdensome. We list the rules in these categories in a chart at the end of this notice. Please send us your recommendations at our Web site, https://www.EGRPRA.gov, or to one of the listed addresses. Today’s request for comment is the fifth notice in our multi-year review of regulations for burden reduction required by section 2222 of EGRPRA.2 We described the EGRPRA review’s requirements in our first EGRPRA notice. In summary, EGRPRA requires us to: 1 The National Credit Union Administration has participated in planning the EGRPRA review but has issued, and will issue, requests for comment separately. 2 Public Law 104–208, Sept. 30, 1996, 12 U.S.C. 3311. We published our first notice in the Federal Register on June 16, 2003, at 68 FR 35589; our second notice on January 21, 2004, at 69 FR 2852; our third notice on July 20, 2004, at 69 FR 43347; and our fourth notice on February 3, 2005, at 70 FR 5571. You may view the notices at our Web site, https://www.EGRPRA.gov. E:\FR\FM\11AUP1.SGM 11AUP1 Federal Register / Vol. 70, No. 154 / Thursday, August 11, 2005 / Proposed Rules • Categorize our regulations by type. • Publish the regulations by category to request comments on which regulations contain requirements that are: outdated, unnecessary, or unduly burdensome. • Publish a summary of those comments. • Eliminate unnecessary regulations to the extent appropriate. • Report to Congress: summarizing the significant issues raised and their relative merits and analyzing whether legislative change is required to reduce burden. The first publication and review cycle must be completed by September 2006. The regulatory response and report to Congress will occur after the publication cycle is finished. We have identified 13 categories of rules to implement our EGRPRA review. The categories are: Applications and Reporting; Banking Operations; Capital; Community Reinvestment Act; Consumer Protection: Lending Related Rules; Consumer Protection: Account/ Deposit Relationships and Miscellaneous Consumer Rules; Directors, Officers and Employees; International Operations; Money Laundering; Powers and Activities; Rules of Procedure; Safety and Soundness; and Securities. You may see the categories and the rules placed within them at our Web site, https:// www.EGRPRA.gov. We previously requested public comment about possible burden reduction in eight categories of rules. Our June 16, 2003, notice requested comment on three categories: Applications and Reporting; Powers and Activities; and International Operations. Our January 21, 2004, notice requested comment on Consumer Protection: Lending Related Rules. Our July 20, 2004, notice requested comment on Consumer Protection: Account/Deposit Relationships and Miscellaneous Consumer Rules. Our February 3, 2005, notice requested comment about three categories: Money Laundering, Safety and Soundness, and Securities. Today, we request comment on rules related to Banking Operations; Directors, Officers and Employees; and Rules of Procedure. In addition to soliciting written comments, we held banker outreach meetings in Orlando, St. Louis, Denver, San Francisco, New York City, Nashville, Seattle, Chicago, Phoenix, and New Orleans to hear directly from the industry about ways the Agencies could reduce regulatory burden. More than 450 representatives from the industry have attended the outreach VerDate jul<14>2003 14:00 Aug 10, 2005 Jkt 205001 meetings. The Agencies also have held three outreach meetings with over 100 participants for representatives of consumer and community groups to obtain their input on regulatory burden reduction. The consumer meetings were held in Arlington, Virginia, San Francisco, and Chicago. Another consumer meeting is scheduled for September, 2005 in Boston. These meetings have helped focus our regulatory burden reduction efforts. We anticipate holding additional outreach events this year. You may learn more about the meetings and related recommendations at our EGRPRA Web site, https://www.EGRPRA.gov. We received 19 comments in response to the first notice, about 560 to the second notice, over 100 to the third notice, and 123 to the fourth notice. The Agencies appreciate the response to our notices and outreach meetings. The written comments and remarks at the meetings came from individuals, banks, savings associations, holding companies, industry trade groups, and consumer and community groups. You may view the comments at our EGRPRA Web site, https://www.EGRPRA.gov. We are actively reviewing the feedback received about specific ways to reduce regulatory burden, as well as conducting our own analyses. In addition, Congress has considered various legislative proposals to reduce burden on the financial services industry. In 2004 and 2005, representatives of the Agencies and industry leaders testified before congressional committees about these legislative reform proposals and other ideas for reducing burden on the financial services industry. We will continue to post information about legislative and regulatory reform efforts on our Web site. II. Request for Comment on Rules Related to: Banking Operations; Directors, Officers and Employees; and Rules of Procedure Today, we are asking the public to identify ways in which the rules related to Banking Operations; Directors, Officers and Employees; and Rules of Procedure may be outdated, unnecessary, or unduly burdensome. As shown on the chart at the end of this notice, there are 28 regulations in these categories. Specific issues to consider. While all comments are welcome, we specifically invite comment on the following issues: A. Need for statutory change. (1) Do any statutory requirements underlying the rules impose unnecessary, PO 00000 Frm 00003 Fmt 4702 Sfmt 4702 46781 redundant, conflicting or unduly burdensome requirements? (2) Are there less burdensome alternatives? B. Need and purpose of the regulations. (1) Are the regulations consistent with the purposes of the statutes that they implement? (2) Have circumstances changed so that a rule is no longer necessary or needs revision? (3) Do changes in the financial products and services offered to consumers and businesses suggest a need to revise certain regulations (or statutes)? (4) Do any of the regulations impose compliance burdens not required by the statutes they implement? C. General approach/flexibility. (1) Would a different general approach to regulating achieve statutory goals with less burden? (2) Do any of these rules impose unnecessarily inflexible requirements? D. Effect of the regulations on competition. Do any of the regulations or statutes create competitive disadvantages for insured depository institutions compared to the rest of the financial services industry or competitive disadvantages for one type of insured depository institution over another? E. Reporting, recordkeeping, and disclosure requirements. (1) Which reporting, recordkeeping, or disclosure requirements impose the most compliance burdens? (2) Are any of the reporting or recordkeeping requirements unnecessary to demonstrate compliance with the law? F. Consistency and redundancy. (1) Are any of the requirements under one regulation inconsistent with or duplicative of requirements under another regulation? (2) If so, are the inconsistencies not warranted by the purposes of the regulations? G. Clarity. Are any of the regulations drafted unclearly? H. Burden on small insured institutions. We have particular interest in minimizing burden on small insured institutions (those with assets of $150 million or less). Are there appropriate ways to amend these rules to minimize adverse economic impact on small insured institutions? The Agencies appreciate the efforts of all interested parties to help us eliminate outdated, unnecessary, or unduly burdensome regulatory requirements. BILLING CODE 4810–33; 6210–01; 6714–01; 6720–01–P E:\FR\FM\11AUP1.SGM 11AUP1 VerDate jul<14>2003 Federal Register / Vol. 70, No. 154 / Thursday, August 11, 2005 / Proposed Rules 14:00 Aug 10, 2005 Jkt 205001 PO 00000 Frm 00004 Fmt 4702 Sfmt 4725 E:\FR\FM\11AUP1.SGM 11AUP1 EP11AU05.021</GPH> 46782 VerDate jul<14>2003 14:00 Aug 10, 2005 Jkt 205001 PO 00000 Frm 00005 Fmt 4702 Sfmt 4725 E:\FR\FM\11AUP1.SGM 11AUP1 46783 EP11AU05.022</GPH> Federal Register / Vol. 70, No. 154 / Thursday, August 11, 2005 / Proposed Rules VerDate jul<14>2003 Federal Register / Vol. 70, No. 154 / Thursday, August 11, 2005 / Proposed Rules 14:00 Aug 10, 2005 Jkt 205001 PO 00000 Frm 00006 Fmt 4702 Sfmt 4725 E:\FR\FM\11AUP1.SGM 11AUP1 EP11AU05.023</GPH> 46784 Dated: July 18, 2005. Julie L. Williams, Acting Comptroller of the Currency. DEPARTMENT OF TRANSPORTATION By order of the Board of Governors of the Federal Reserve System on August 1, 2005. Jennifer J. Johnson, Secretary of the Board. 14 CFR Part 25 Federal Aviation Administration By order of the Board of Directors. Federal Deposit Insurance Corporation. Dated at Washington, DC, this 19th day of July, 2005. Robert E. Feldman, Executive Secretary. Dated: July 19, 2005. Richard M. Riccobono, Acting Director, Office of Thrift Supervision. [FR Doc. 05–15923 Filed 8–10–05; 8:45 am] BILLING CODE 4810–33; 6210–01; 6714–01; 6720–01–C VerDate jul<14>2003 14:00 Aug 10, 2005 Jkt 205001 [Docket No. NM323; Notice No. 25–05–18– SC] Special Conditions: Boeing Model 747– 400 Airplane; Large Non-Structural Glass in the Passenger Compartment Federal Aviation Administration (FAA), DOT. ACTION: Notice of proposed special conditions. AGENCY: SUMMARY: This action proposes special conditions for a Boeing Model 747–400 airplane modified by Lufthansa Technik AG. This airplane will have a novel or unusual design feature associated with the installation of large non-structural glass items in the cabin area of an executive interior occupied by passengers and crew. The proposed installation of these items in a passenger compartment, which can be occupied during taxi, takeoff, and landing, is a novel or unusual design feature with respect to the material used. The PO 00000 Frm 00007 Fmt 4702 Sfmt 4702 46785 applicable airworthiness regulations do not contain adequate or appropriate safety standards for this design feature. These proposed special conditions contain the additional safety standards that the Administrator considers necessary to establish a level of safety equivalent to that established by the existing airworthiness standards. DATES: Comments must be received on or before September 12, 2005. ADDRESSES: Comments on this proposal may be mailed in duplicate to: Federal Aviation Administration, Transport Airplane Directorate, Attention: Rules Docket (ANM–113), Docket No. NM323, 1601 Lind Avenue SW., Renton, Washington 98055–4056; or delivered in duplicate to the Transport Airplane Directorate at that address. All comments must be marked: Docket No. NM323. Comments may be inspected in the Rules Docket weekdays, except Federal holidays, between 7:30 a.m. and 4 p.m. FOR FURTHER INFORMATION CONTACT: Alan Sinclair, Airframe/Cabin Safety Branch, ANM–115, Transport Airplane Directorate, Aircraft Certification Service, 1601 Lind Avenue SW., E:\FR\FM\11AUP1.SGM 11AUP1 EP11AU05.024</GPH> Federal Register / Vol. 70, No. 154 / Thursday, August 11, 2005 / Proposed Rules

Agencies

[Federal Register Volume 70, Number 154 (Thursday, August 11, 2005)]
[Proposed Rules]
[Pages 46779-46785]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-15923]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

12 CFR Chap. I

[Docket No. 05-15]

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

12 CFR Chap. II

[Docket No. OP-1232]

FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Chap. III

DEPARTMENT OF THE TREASURY

Office of Thrift Supervision

12 CFR Chap. V

[No. 2005-26]


Request for Burden Reduction Recommendations; Rules Relating to 
Banking Operations; Directors, Officers and Employees; and Rules of 
Procedure; Economic Growth and Regulatory Paperwork Reduction Act of 
1996 Review

AGENCIES: Office of the Comptroller of the Currency (OCC), Treasury; 
Board of Governors of the Federal Reserve System (Board); Federal 
Deposit Insurance Corporation (FDIC); and Office of Thrift Supervision 
(OTS), Treasury.

ACTION: Notice of regulatory review; request for comments.

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SUMMARY: The OCC, Board, FDIC, and OTS (``we'' or ``the Agencies'') are 
reviewing our regulations to identify outdated, unnecessary, or unduly 
burdensome regulatory requirements pursuant to the Economic Growth and 
Regulatory Paperwork Reduction Act of 1996 (EGRPRA). Today, we request 
your comments and suggestions on ways to reduce burden in rules we have 
categorized as Banking Operations; Directors, Officers and Employees; 
and Rules of Procedure. All comments are welcome. We specifically 
invite comment on the following issues: whether statutory changes are 
needed; whether the regulations contain requirements that are not 
needed to serve the purposes of the statutes they implement; the extent 
to which the regulations may adversely affect competition; whether the 
cost of compliance associated with reporting, recordkeeping, and 
disclosure requirements, particularly on small institutions, is 
justified; whether any regulatory requirements are inconsistent or 
redundant; and whether any regulations are unclear.
    We will analyze the comments received and propose burden-reducing 
changes to our regulations where appropriate. Some of your suggestions 
for burden reduction might require legislative changes. Where 
legislative changes would be required, we will consider your 
suggestions in recommending appropriate changes to Congress.

DATES: Written comments must be received no later than November 9, 
2005.

ADDRESSES: You may submit comments by any of the following methods:
    EGRPRA Web site: https://www.EGRPRA.gov.
     Comments submitted at the Agencies' joint Web site will 
automatically be distributed to all the Agencies. Comments received at 
the EGRPRA Web site and by other means will be posted on the Web site 
to the extent possible.

[[Page 46780]]

    Individual agency addresses: You are also welcome to submit 
comments to the Agencies at the following contact points (due to delays 
in paper mail delivery in the Washington area, commenters may prefer to 
submit their comments by alternative means):
    OCC: You may submit comments, identified by [docket 
], by any of the following methods:
     E-mail: regs.comments@occ.treas.gov. Include [docket 
] in the subject line of the message. Please include 
your name and address.
     Fax: (202) 874-4448.
     Mail: Public Information Room, Office of the Comptroller 
of the Currency, 250 E Street, SW., Mailstop 1-5, Washington, DC 20219. 
Attention: Docket .
    Public Inspection: You may inspect and photocopy comments at the 
Public Information Room. You can make an appointment to inspect the 
comments by calling (202) 874-5043.
    Board: You may submit comments, identified by Docket Number 
, by any of the following methods:
     Agency Web site: https://www.federalreserve.gov. Follow the 
instructions for submitting comments at https://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments.
     E-mail: regs.comments@federalreserve.gov. Include docket 
number in the subject line of the message.
     Fax: (202) 452-3819 or (202) 452-3102.
     Mail: Jennifer J. Johnson, Secretary, Board of Governors 
of the Federal Reserve System, 20th Street and Constitution Avenue, 
NW., Washington, DC 20551.
    All public comments are available from the Board's Web site at 
https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm, as 
submitted, except as necessary for technical reasons. Accordingly, your 
comments will not be edited to remove any identifying or contact 
information. Public comments may also be viewed electronically or in 
paper in Room MP-500 of the Board's Martin Building (20th and C 
Streets, NW.) between 9 a.m. and 5 p.m. on weekdays.
    FDIC: You may submit comments, identified as EGRPRA burden 
reduction comments, by any of the following methods:
     Agency Web site: https://www.fdic.gov/regulations/laws/
federal/propose.html.
     E-mail: comments@fdic.gov. Include ``EGRPRA burden 
reduction comment'' in the subject line of the message.
     Mail: Robert E. Feldman, Executive Secretary, Federal 
Deposit Insurance Corporation, 550 17th Street, NW., Washington, DC 
20429.
     Hand Delivery: Comments may be hand delivered to the guard 
station at the rear of the 550 17th Street Building (located on F 
Street) on business days between 7 a.m. and 5 p.m.
    Public Inspection: You may inspect comments at the FDIC Public 
Information Center, Room 100, 801 17th Street, NW., between 9 a.m. and 
4:30 p.m. on business days.
    OTS: You may submit comments, identified by ``No. 
.'' by any of the following methods:
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments.
     E-Mail: regs.comments@ots.treas.gov. Include ``No. 
'' in the subject line of the message, and provide 
your name and telephone number.
     Fax: (202) 906-6518.
     Mail: Regulation Comments, Chief Counsel's Office, Office 
of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.
     Hand Delivery: Comments may be hand delivered to the 
Guard's Desk, East Lobby Entrance, 1700 G Street, NW., from 9 a.m. to 4 
p.m. on business days, Attention: Regulation Comments, Chief Counsel's 
Office.
    Public Inspection: OTS will post comments and the related index on 
the OTS Internet Site at https://www.ots.treas.gov/
pagehtml.cfm?catNumber=67&an=1. In addition, you may inspect comments 
at the Public Reading Room, 1700 G Street, NW., by appointment. To make 
an appointment for access, call (202) 906-5922, send an e-mail to 
public.info@ots.treas.gov, or send a fax to (202) 906-7755. (Please 
identify the material you would like to inspect to assist us in serving 
you.) OTS schedules appointments on business days between 10 a.m. and 4 
p.m. In most cases, appointments will be available the next business 
day following the date OTS receives a request.

FOR FURTHER INFORMATION CONTACT: 

OCC

     Heidi Thomas, Special Counsel, Legislative and Regulatory 
Activities Division, (202) 874-5090.
     Lee Walzer, Counsel, Legislative and Regulatory Activities 
Division, (202) 874-5090.
    Board:
     Patricia A. Robinson, Assistant General Counsel, Legal 
Division, (202) 452-3005.
     Michael J. O'Rourke, Counsel, Legal Division, (202) 452-
3288.
     John C. Wood, Counsel, Division of Consumer and Community 
Affairs, (202) 452-2412.
     Kevin H. Wilson, Supervisory Financial Analyst, Division 
of Banking Supervision and Regulation, (202) 452-2362.
     For users of Telecommunications Device for the Deaf (TDD) 
only, contact (202) 263-4869.

FDIC

     Claude A. Rollin, Special Assistant to the Vice Chairman, 
(202) 898-8741.
     Steven D. Fritts, Associate Director, Division of 
Supervision and Consumer Protection, (202) 898-3723.
     Ruth R. Amberg, Senior Counsel, Legal Division, (202) 898-
3736.
     Susan van den Toorn, Counsel, Legal Division, (202) 898-
8707.

OTS

     Glenn Gimble, Senior Project Manager, Thrift Policy, 
Supervision Policy, (202) 906-7158.
     Josephine Battle, Program Analyst, Thrift Policy, 
Supervision Policy, (202) 906-6870.
     Karen Osterloh, Special Counsel, Regulations and 
Legislation Division, Chief Counsel's Office, (202) 906-6639.

SUPPLEMENTARY INFORMATION:

I. Overview of the EGRPRA Review and the Steps Taken So Far

    The Agencies \1\ are asking for your comments and suggestions on 
ways in which we can reduce regulatory burden consistent with our 
statutory obligations. Today, we request your input to help us identify 
which regulatory requirements in three categories--Banking Operations; 
Directors, Officers and Employees; and Rules of Procedure--are 
outdated, unnecessary, or unduly burdensome. We list the rules in these 
categories in a chart at the end of this notice. Please send us your 
recommendations at our Web site, https://www.EGRPRA.gov, or to one of 
the listed addresses.
---------------------------------------------------------------------------

    \1\ The National Credit Union Administration has participated in 
planning the EGRPRA review but has issued, and will issue, requests 
for comment separately.
---------------------------------------------------------------------------

    Today's request for comment is the fifth notice in our multi-year 
review of regulations for burden reduction required by section 2222 of 
EGRPRA.\2\ We described the EGRPRA review's requirements in our first 
EGRPRA notice. In summary, EGRPRA requires us to:
---------------------------------------------------------------------------

    \2\ Public Law 104-208, Sept. 30, 1996, 12 U.S.C. 3311. We 
published our first notice in the Federal Register on June 16, 2003, 
at 68 FR 35589; our second notice on January 21, 2004, at 69 FR 
2852; our third notice on July 20, 2004, at 69 FR 43347; and our 
fourth notice on February 3, 2005, at 70 FR 5571. You may view the 
notices at our Web site, https://www.EGRPRA.gov.

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     Categorize our regulations by type.
     Publish the regulations by category to request comments on 
which regulations contain requirements that are: outdated, unnecessary, 
or unduly burdensome.
     Publish a summary of those comments.
     Eliminate unnecessary regulations to the extent 
appropriate.
     Report to Congress: summarizing the significant issues 
raised and their relative merits and analyzing whether legislative 
change is required to reduce burden.
    The first publication and review cycle must be completed by 
September 2006. The regulatory response and report to Congress will 
occur after the publication cycle is finished.
    We have identified 13 categories of rules to implement our EGRPRA 
review. The categories are: Applications and Reporting; Banking 
Operations; Capital; Community Reinvestment Act; Consumer Protection: 
Lending Related Rules; Consumer Protection: Account/Deposit 
Relationships and Miscellaneous Consumer Rules; Directors, Officers and 
Employees; International Operations; Money Laundering; Powers and 
Activities; Rules of Procedure; Safety and Soundness; and Securities. 
You may see the categories and the rules placed within them at our Web 
site, https://www.EGRPRA.gov.
    We previously requested public comment about possible burden 
reduction in eight categories of rules. Our June 16, 2003, notice 
requested comment on three categories: Applications and Reporting; 
Powers and Activities; and International Operations. Our January 21, 
2004, notice requested comment on Consumer Protection: Lending Related 
Rules. Our July 20, 2004, notice requested comment on Consumer 
Protection: Account/Deposit Relationships and Miscellaneous Consumer 
Rules. Our February 3, 2005, notice requested comment about three 
categories: Money Laundering, Safety and Soundness, and Securities. 
Today, we request comment on rules related to Banking Operations; 
Directors, Officers and Employees; and Rules of Procedure.
    In addition to soliciting written comments, we held banker outreach 
meetings in Orlando, St. Louis, Denver, San Francisco, New York City, 
Nashville, Seattle, Chicago, Phoenix, and New Orleans to hear directly 
from the industry about ways the Agencies could reduce regulatory 
burden. More than 450 representatives from the industry have attended 
the outreach meetings. The Agencies also have held three outreach 
meetings with over 100 participants for representatives of consumer and 
community groups to obtain their input on regulatory burden reduction. 
The consumer meetings were held in Arlington, Virginia, San Francisco, 
and Chicago. Another consumer meeting is scheduled for September, 2005 
in Boston. These meetings have helped focus our regulatory burden 
reduction efforts. We anticipate holding additional outreach events 
this year. You may learn more about the meetings and related 
recommendations at our EGRPRA Web site, https://www.EGRPRA.gov.
    We received 19 comments in response to the first notice, about 560 
to the second notice, over 100 to the third notice, and 123 to the 
fourth notice. The Agencies appreciate the response to our notices and 
outreach meetings. The written comments and remarks at the meetings 
came from individuals, banks, savings associations, holding companies, 
industry trade groups, and consumer and community groups. You may view 
the comments at our EGRPRA Web site, https://www.EGRPRA.gov. We are 
actively reviewing the feedback received about specific ways to reduce 
regulatory burden, as well as conducting our own analyses.
    In addition, Congress has considered various legislative proposals 
to reduce burden on the financial services industry. In 2004 and 2005, 
representatives of the Agencies and industry leaders testified before 
congressional committees about these legislative reform proposals and 
other ideas for reducing burden on the financial services industry. We 
will continue to post information about legislative and regulatory 
reform efforts on our Web site.

II. Request for Comment on Rules Related to: Banking Operations; 
Directors, Officers and Employees; and Rules of Procedure

    Today, we are asking the public to identify ways in which the rules 
related to Banking Operations; Directors, Officers and Employees; and 
Rules of Procedure may be outdated, unnecessary, or unduly burdensome. 
As shown on the chart at the end of this notice, there are 28 
regulations in these categories.
    Specific issues to consider. While all comments are welcome, we 
specifically invite comment on the following issues:
    A. Need for statutory change. (1) Do any statutory requirements 
underlying the rules impose unnecessary, redundant, conflicting or 
unduly burdensome requirements? (2) Are there less burdensome 
alternatives?
    B. Need and purpose of the regulations. (1) Are the regulations 
consistent with the purposes of the statutes that they implement? (2) 
Have circumstances changed so that a rule is no longer necessary or 
needs revision? (3) Do changes in the financial products and services 
offered to consumers and businesses suggest a need to revise certain 
regulations (or statutes)? (4) Do any of the regulations impose 
compliance burdens not required by the statutes they implement?
    C. General approach/flexibility. (1) Would a different general 
approach to regulating achieve statutory goals with less burden? (2) Do 
any of these rules impose unnecessarily inflexible requirements?
    D. Effect of the regulations on competition. Do any of the 
regulations or statutes create competitive disadvantages for insured 
depository institutions compared to the rest of the financial services 
industry or competitive disadvantages for one type of insured 
depository institution over another?
    E. Reporting, recordkeeping, and disclosure requirements. (1) Which 
reporting, recordkeeping, or disclosure requirements impose the most 
compliance burdens? (2) Are any of the reporting or recordkeeping 
requirements unnecessary to demonstrate compliance with the law?
    F. Consistency and redundancy. (1) Are any of the requirements 
under one regulation inconsistent with or duplicative of requirements 
under another regulation? (2) If so, are the inconsistencies not 
warranted by the purposes of the regulations?
    G. Clarity. Are any of the regulations drafted unclearly?
    H. Burden on small insured institutions. We have particular 
interest in minimizing burden on small insured institutions (those with 
assets of $150 million or less). Are there appropriate ways to amend 
these rules to minimize adverse economic impact on small insured 
institutions?
    The Agencies appreciate the efforts of all interested parties to 
help us eliminate outdated, unnecessary, or unduly burdensome 
regulatory requirements.
BILLING CODE 4810-33; 6210-01; 6714-01; 6720-01-P

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    Dated: July 18, 2005.
Julie L. Williams,
Acting Comptroller of the Currency.

    By order of the Board of Governors of the Federal Reserve System 
on August 1, 2005.
Jennifer J. Johnson,
Secretary of the Board.

    By order of the Board of Directors.

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, this 19th day of July, 2005.
Robert E. Feldman,
Executive Secretary.

    Dated: July 19, 2005.
Richard M. Riccobono,
Acting Director, Office of Thrift Supervision.
[FR Doc. 05-15923 Filed 8-10-05; 8:45 am]
BILLING CODE 4810-33; 6210-01; 6714-01; 6720-01-C
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