Revisions To Reflect the Merger of the Bank Insurance Fund and the Savings Association Insurance Fund, 20524-20528 [06-3721]
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20524
Federal Register / Vol. 71, No. 77 / Friday, April 21, 2006 / Rules and Regulations
(b) From subsection (d) (Access to Records)
because access to the records contained in
this system of records could inform the
subject of an investigation of an actual or
potential criminal, civil, or regulatory
violation to the existence of the investigation
and reveal investigative interest on the part
of DHS or another agency. Access to the
records would permit the individual who is
the subject of a record to impede the
investigation and avoid detection or
apprehension. Amendment of the records
would interfere with ongoing investigations
and law enforcement activities and impose
an impossible administrative burden by
requiring investigations to be continuously
reinvestigated. The information contained in
the system may also include properly
classified information, the release of which
would pose a threat to national defense and/
or foreign policy. In addition, permitting
access and amendment to such information
also could disclose security-sensitive
information that could be detrimental to
homeland security.
(c) From subsection (e)(1) (Relevancy and
Necessity of Information) because in the
course of investigations into potential
violations of federal law, the accuracy of
information obtained or introduced,
occasionally may be unclear or the
information may not be strictly relevant or
necessary to a specific investigation. In the
interests of effective enforcement of federal
laws, it is appropriate to retain all
information that may aid in establishing
patterns of unlawful activity.
(d) From subsections (e)(4)(G), (H) and (I)
(Agency Requirements), and (f) (Agency
Rules), because portions of this system are
exempt from the access provisions of
subsection (d).
2. DHS–CRCL–001, Civil Rights and Civil
Liberties Matters, which will cover
allegations of abuses of civil rights and civil
liberties that are submitted to the Office of
CRCL. Pursuant to exemptions (k)(1), (k)(2)
and (k)(5) of the Privacy Act, portions of this
system are exempt from 5 U.S.C. 552a(c)(3);
(d); (e)(1); (e)(4)(G), (H) and (I) and (f).
Exemptions from the particular subsections
are justified, on a case by case basis to be
determined at the time a request is made, for
the following reasons:
(a) From subsection (c)(3) (Accounting for
Disclosures) because release of the
accounting of disclosures could alert the
subject of an investigation of an actual or
potential criminal, civil, or regulatory
violation to the existence of the investigation
and reveal investigative interest on the part
of DHS or another agency. Disclosure of the
accounting would therefore present a serious
impediment to law enforcement efforts and
efforts to preserve national security.
Disclosure of the accounting would also
permit the individual who is the subject of
a record to impede the investigation and
avoid detection or apprehension, which
undermines the entire system.
(b) From subsection (d) (Access to Records)
because access to the records contained in
this system of records could inform the
subject of an investigation of an actual or
potential criminal, civil, or regulatory
violation to the existence of the investigation
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and reveal investigative interest on the part
of DHS as well as the recipient agency.
Access to the records would permit the
individual who is the subject of a record to
impede the investigation and avoid detection
or apprehension. Amendment of the records
would interfere with ongoing investigations
and law enforcement activities and impose
an impossible administrative burden by
requiring investigations to be continuously
reinvestigated. The information contained in
the system may also include properly
classified information, the release of which
would pose a threat to national defense and/
or foreign policy. In addition, permitting
access and amendment to such information
also could disclose security-sensitive
information that could be detrimental to
homeland security.
(c) From subsection (e)(1) (Relevancy and
Necessity of Information) because in the
course of investigations into potential
violations of federal law, the accuracy of
information obtained or introduced,
occasionally may be unclear or the
information may not be strictly relevant or
necessary to a specific investigation. In the
interests of effective enforcement of federal
laws, it is appropriate to retain all
information that may aid in establishing
patterns of unlawful activity.
(d) From subsections (e)(4)(G), (H) and (I)
(Agency Requirements), and (f) (Agency
Rules), because this system is exempt from
the access provisions of subsection (d).
Dated: April 13, 2006.
Maureen Cooney,
Acting Chief Privacy Officer.
[FR Doc. 06–3791 Filed 4–20–06; 8:45 am]
BILLING CODE 4410–10–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Parts 303, 308, 312, 336, 347,
348, 357, 362, 363, 364, 366 and 367
RIN 3064—AD04
Revisions To Reflect the Merger of the
Bank Insurance Fund and the Savings
Association Insurance Fund
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Final rule.
AGENCY:
SUMMARY: The FDIC is amending its
regulations to reflect the recent merger
of the Bank Insurance Fund and the
Savings Association Insurance Fund,
forming the Deposit Insurance Fund.
The merger of the two deposit insurance
funds was required by the Federal
Deposit Insurance Reform Act of 2005
and was effectuated by the FDIC as of
March 31, 2006. All revisions to the
FDIC’s regulations made by the final
rule are conforming changes
necessitated by the funds merger.
DATES: Effective Date: The final rule is
effective on April 21, 2006.
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FOR FURTHER INFORMATION CONTACT:
Joseph A. DiNuzzo, Counsel, (202) 898–
7349, Legal Division, Federal Deposit
Insurance Corporation, Washington, DC
20429.
SUPPLEMENTARY INFORMATION:
I. Background
Section 2102 of the Federal Deposit
Insurance Reform Act of 2005 (‘‘Reform
Act’’) (Pub. L. 109–171, 120 Stat. 9)
required that the FDIC merge the Bank
Insurance Fund (‘‘BIF’’) and Savings
Association Insurance Fund (‘‘SAIF’’)
into the Deposit Insurance Fund (‘‘DIF’’)
effective no later than July 1, 2006. The
FDIC effectuated the funds merger as of
March 31, 2006. As a result of the funds
merger, the BIF and SAIF were
abolished. Section 8 of the Federal
Deposit Insurance Reform Conforming
Amendments Act of 2005 (Pub. L. 109–
173, 119 Stat. 3601) (‘‘Amendments
Act’’) made numerous technical and
conforming amendments to the FDI Act
relating to the merger of BIF and SAIF
into the DIF.
The final rule revises the FDIC’s
regulations to reflect the funds merger
and the elimination of BIF and SAIF.
The majority of revisions are comprised
of replacing references to BIF and SAIF
with DIF. Other changes eliminate
provisions dealing with fund
conversions and entrance and exit fees
previously required when an institution
converted from one fund to the other.
Neither the recent legislation nor the
funds merger will affect the authority of
the Financing Corporation (‘‘FICO’’) to
impose and collect, with approval of the
FDIC, assessments for anticipated
payments, issuance costs and custodial
fees on obligations issued by the FICO.1
II. The Final Rule
The following is a section-by-section
discussion of the final rule revisions to
the FDIC’s regulations.
Part 303—Filing Procedures
The final rule: (1) Eliminates the
defined term ‘‘optional conversion
(Oakar transaction)’’ in section
303.61(d) because, with the elimination
of BIF and SAIF and the formation of
the DIF, fund conversions are now
obsolete; (2) excludes ‘‘deposit
insurance fund conversions’’ from the
transactions listed in section 303.62
1 FICO is a mixed-ownership government
corporation created in 1987 to recapitalize the
Federal Savings and Loan Insurance Corporation
(‘‘FSLIC’’) by issuing bonds to purchase capital
stock or capital certificates issued by the FSLIC.
FICO issued 30-year non-callable bonds of
approximately $8.2 billion that mature in 2017
through 2019. Competitive Equality Banking Act,
Public Law 100–86, Title III, amending section 21
of the Federal Home Loan Bank Act, 12 U.S.C. 1441.
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requiring prior FDIC approval; (3)
replaces ‘‘federal deposit insurance
funds’’ in section 303.162 with ‘‘Deposit
Insurance Fund’; (4) replaces ‘‘Bank
Insurance Fund’’ in section
303.187(a)(2)(vi) with ‘‘Deposit
Insurance Fund’; (5) replaces ‘‘Bank
Insurance Fund (BIF) or the Savings
Association Insurance Fund (SAIF)’’
with ‘‘Deposit Insurance Fund’’ in
section 303.245(a); and (6) eliminates
section 303.246, entitled ‘‘Insurance
Fund Conversions.’’
Part 308—Rules of Practice and
Procedure
The final rule revises section
308.111(f) by replacing ‘‘the Bank
Insurance Fund or the Savings
Association Insurance Fund’’ with ‘‘the
Deposit Insurance Fund.’’
Part 312—Assessment of Fees Upon
Entrance to or Exit From the Bank
Insurance Fund or the Savings
Association Insurance Fund
The final rule deletes this entire part
because the funds merger has made
fund conversions and the accompanying
entrance and exit fees obsolete. Also,
Section 8(a)(4) of the Amendments Act
expressly provides that any funds held
in the SAIF exit fee reserve account
provided for in section 312.5(e) be
deposited into the general fund of the
DIF. This action was effectuated upon
the merger of the funds.
Part 327—Assessments
As a result of the Reform Act, the
FDIC is in the process of revamping its
risk-based assessment system. Technical
changes to part 327 involving the funds
merger will be made as part of the
FDIC’s future rulemaking to implement
the substantive overhaul of the
assessment system. Section 2109 of the
Reform Act specifies that, during the
interim period between the time of the
funds merger and the effective date of
new assessment regulations, the existing
assessment regulations shall apply to all
DIF members, even though they may
refer to BIF members or SAIF members.
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Part 336—FDIC Employees
The final rule revises section 336.3(f)
by replacing ‘‘Bank Insurance Fund, the
Savings Association Insurance Fund’’
with ‘‘Deposit Insurance Fund, the
former Bank Insurance Fund, the former
Savings Association Insurance Fund.’’
Part 347—International Banking
The final rule revises section
347.202(u) by replacing ‘‘Bank
Insurance Fund’’ with ‘‘Deposit
Insurance Fund.’’ Sections 347.209(a)
and 347.209(b)(3) are revised by
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replacing ‘‘deposit insurance fund’’ in
each place it appears with ‘‘Deposit
Insurance Fund.’’ Also, in section
347.212(b) ‘‘affected deposit insurance
fund’’ is replaced by ‘‘Deposit Insurance
Fund.’’
Part 348—Management Official
Interlocks
The final rule revises a cross-reference
citation in section 348.6(d).
Part 357—Determination of
Economically Depressed Regions
The final rule revises section 357.1(a)
by replacing ‘‘Savings Association
Insurance Fund members’’ with
‘‘insured savings associations.’’
Part 362—Activities of Insured State
Banks and Insured Savings Association
Part 362 is revised: in section 362.1(d)
by replacing ‘‘deposit insurance funds’’
with ‘‘Deposit Insurance Fund’’; in
section 362.2(p) by replacing ‘‘deposit
insurance fund’’ with ‘‘Deposit
Insurance Fund’’ and replacing ‘‘any
insurance fund’’ with ‘‘the Deposit
Insurance Fund’’; in section
362.3(a)(2)(iii)(A)(2) by replacing
‘‘appropriate deposit insurance fund’’
with ‘‘Deposit Insurance Fund’’ in
section 362.3(b)(2)(i) by replacing
‘‘affected deposit insurance fund’’ and
‘‘deposit insurance funds’’ with
‘‘Deposit Insurance Fund’’; in section
362.3(b)(2)(iii)(A) and (B) by replacing
references to ‘‘deposit insurance funds’’
with ‘‘Deposit Insurance Fund’’; in
section 362.4(b)(1) by replacing
‘‘affected deposit insurance fund’’ with
‘‘Deposit Insurance Fund’’; in sections
362.4(b)(3), 362.4(b)(5), 362.4(b)(6),
362.4(b)(7) and 362.9(c) by replacing
‘‘deposit insurance funds’’ with
‘‘Deposit Insurance Fund’’; and in
sections 362.11 and 362.12 by replacing
all references to ‘‘affected deposit
insurance fund’’ with ‘‘Deposit
Insurance Fund’’ and by replacing all
references to ‘‘deposit insurance funds’’
with ‘‘Deposit Insurance Fund.’’
Part 363—Annual Independent Audits
and Reporting Requirements
Part 363 is revised by replacing
‘‘affected deposit insurance fund’’ in
section 363.1(b)(3) with ‘‘Deposit
Insurance Fund.’’
Part 364—Standards for Safety and
Soundness
Part 364 (Appendix A I. vi) is revised
by replacing ‘‘deposit insurance funds’’
with ‘‘Deposit Insurance Fund.’’
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Part 366—Minimum Standards of
Integrity and Fitness for an FDIC
Contractor
Section 366.3(d) and 366.5 are revised
by replacing all references to ‘‘a federal
deposit insurance fund’’ with ‘‘the
Deposit Insurance Fund (or any
predecessor deposit insurance fund).’’
Part 367—Suspension and Exclusion of
Contractors and Termination of
Contracts
Section 367.2(s)(1) is revised by
replacing ‘‘Bank Insurance Fund (BIF),
the Savings Association Insurance Fund
(SAIF)’’ with ‘‘the former Bank
Insurance Fund (BIF), the former
Savings Association Insurance Fund
(SAIF) or the Deposit Insurance Fund’’.
Section 367.2(s)(3) is revised by
replacing ‘‘or the BIF, the SAIF’’ with
‘‘or the former BIF, the former SAIF, the
Deposit Insurance Fund.’’ Section
367.6(d) is revised by replacing ‘‘Federal
deposit insurance funds’’ with ‘‘the
Deposit Insurance Fund (or any
predecessor deposit insurance fund).’’
III. Waiver of APA Requirements
The revisions to the FDIC’s
regulations made by the final rule are all
technical, conforming and nondiscretionary changes required by the
Reform Act and the Amendments Act
incident to the merger of BIF and SAIF
and the formation of the DIF. Thus, the
FDIC Board of Directors has determined
that the public notice and participation
that ordinarily would be required by the
Administrative Procedure Act (5 U.S.C.
553) before a regulation may take effect
are unnecessary and that good cause
exists for an exception to the customary
30-day delayed effective date.
IV. Paperwork Reduction Act
The final rule will not create or
modify any collections of information
pursuant to the Paperwork Reduction
Act (44 U.S.C. 3501 et seq.).
Consequently, no information has been
submitted to the Office of Management
and Budget for review.
V. Regulatory Flexibility Act
A regulatory flexibility analysis is
required only when an agency must
publish a notice of proposed rulemaking
(5 U.S.C. 603, 604). Because the
revisions to the FDIC’s regulations are
published in final form without a notice
of proposed rulemaking, no regulatory
flexibility analysis is required.
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Federal Register / Vol. 71, No. 77 / Friday, April 21, 2006 / Rules and Regulations
VI. The Treasury and General
Government Appropriations Act,
1999—Assessment of Federal
Regulations and Policies on Families
The FDIC has determined that the
final rule will not affect family wellbeing within the meaning of section 654
of the Treasury and General
Government Appropriations Act,
enacted as part of the Omnibus
Consolidated and Emergency
Supplemental Appropriations Act of
1999 (Pub. L. 105–277, 112 Stat. 2681).
VII. Small Business Regulatory
Enforcement Fairness Act
The Office of Management and Budget
has determined that the final rule is not
a ‘‘major rule’’ within the meaning of
the relevant sections of the Small
Business Regulatory Enforcement
Fairness Act of 1996 (‘‘SBREFA’’) (5
U.S.C. 801 et seq.). As required by
SBREFA, the FDIC will file the
appropriate reports with Congress and
the General Accounting Office so that
the final rule may be reviewed.
12 CFR Part 366
List of Subjects
12 CFR Part 303
Administrative practice procedure,
Bank deposit insurance, Banks, banking,
Reporting and recordkeeping
requirements, Savings associations.
12 CFR Part 308
Administrative practice and
procedure, Bank deposit insurance,
Banks, banking, Claims, Crime, Equal
access to justice, Fraud, Investigations,
Lawyers, Penalties.
12 CFR Part 312
Bank deposit insurance, Savings
associations.
12 CFR Part 364
Administrative practice and
procedure, Bank deposit insurance,
Reporting and recordkeeping
requirements.
Conflict of interests, Government
contracts, Reporting and recordkeeping
requirements.
12 CFR Part 367
Administrative practice and
procedure, Conflict of interests,
Government contracts.
I For the reasons stated above, the
Board of Directors of the Federal
Deposit Insurance Corporation hereby
amends chapter III of title 12 of the
Code of Federal Regulations as follows:
PART 303—FILING PROCEDURES
1. The authority citation for part 303
continues to read as follows:
I
Authority: 12 U.S.C. 378, 1813, 1815, 1817,
1818, 1819, (Seventh and Tenth), 1820, 1823,
1828, 1831a, 1831e, 1831o, 1831p–1, 1831w,
1835a, 1843(l), 3104, 3105, 3108, 3207; 15
U.S.C. 1601–1607.
§ 303.61
[Amended]
3. Section 303.62 paragraph (b)(3) is
removed and paragraphs (b)(4), (b)(5)
and (b)(6) are redesignated, respectively,
as (b)(3), (b)(4) and (b)(5).
§ 303.162
4. Section 303.162 (b) is amended by
removing ‘‘federal deposit insurance
funds’’ and adding in its place ‘‘Deposit
Insurance Fund’’.
I
§ 303.245
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[Amended]
5. Section 303.187 (a)(2)(vi) is
amended by removing ‘‘Bank Insurance
Fund’’ and adding in its place ‘‘Deposit
Insurance Fund’’.
12 CFR Part 362
Administrative practice and
procedure, Authority delegations
(Government Agencies), Bank deposit
insurance, Banks, banking, Investments,
[Amended]
6. Section 303.245(a) is amended by
removing ‘‘Bank Insurance Fund (BIF)
or the Savings Association Insurance
Fund (SAIF)’’ and adding in its place
‘‘Deposit Insurance Fund’’.
I
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PART 308—RULES OF PRACTICE AND
PROCEDURE
8. The authority citation continues to
read as follows:
I
Authority: 5 U.S.C. 504, 554–557; 12
U.S.C. 93(b), 164, 505, 1815(e), 1817, 1818,
1820, 1828, 1829, 1829b, 1831i, 1831m(g)(4),
1831o, 1831p–1, 1832(c), 1884(b), 1972,
3102, 3108(a), 3349, 3909, 4717; 15 U.S.C.
78(h) and (i), 78o–4(c), 78o–5, 78q–1, 78s,
78u, 78u–2, 78u–3, and 78w, 6801(b),
6805(b)(1); 28 U.S.C. 2461 note; 31 U.S.C.
330, 5321; 42 U.S.C. 4012a; Sec. 3100(s), Pub.
L. 104–134, 110 Stat. 1321–358.
§ 308.111
[Amended]
9. Section 308.111(f) is amended by
removing ‘‘Bank Insurance Fund or the
Savings Association Insurance Fund’’
and adding in its place ‘‘Deposit
Insurance Fund’’.
I
PART 312—[REMOVED]
10. Under section 8 of the Federal
Deposit Insurance Reform Conforming
Amendments Act of 2005 (Pub. L. 109–
173), amend 12 CFR chapter III by
removing part 312.
I
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PART 336—FDIC EMPLOYEES
11. The authority citation continues to
read as follows:
I
Authority: 5 U.S.C. 7301; 12 U.S.C.
1819(a).
12. Section 336.3(f) is revised to read
as follows:
I
§ 336.3
[Amended]
I
12 CFR Part 357
Savings associations.
7. Section 303.246 is removed and
sections 303.247, 303.248, 303.249,
303.250, 303.251 and 303.252 are
redesignated, respectively, as sections
303.246, 303.247, 3030.248, 303.249,
303.250 and 303.251.
I
[Amended]
2. Section 303.61 paragraph (d) is
removed and paragraph (e) is
redesignated as (d).
I
§ 303.187
12 CFR Part 348
Antitrust, banks, banking, holding
companies.
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Accounting, Administrative practice
and procedure, Banks, banking,
Reporting and recordkeeping
requirements.
I
12 CFR Part 347
Authority delegations (Government
agencies), Bank deposit insurance,
Banks, banking, Credit, Foreign banking,
Investments, Reporting and
recordkeeping requirements, United
States investments abroad.
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12 CFR Part 363
§ 303.62
12 CFR Part 336
Conflict of interest.
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§ 303.246 [Removed]; §§ 303.247, 303.248,
303.249, 303.250, 303.251 and 303.252
[Redesignated]
Reporting and recordkeeping
requirements.
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Definitions.
*
*
*
*
*
(f) Federal deposit insurance fund
means the Deposit Insurance Fund, the
former Bank Insurance Fund, the former
Savings Association Insurance Fund,
the Federal Savings and Loan Insurance
Corporation (FSLIC) Resolution Trust,
or the funds formerly maintained by the
Resolution Trust Corporation (RTC), or
their successors, for the benefit of
insured depositors.
*
*
*
*
*
PART 347—INTERNATIONAL
BANKING
13. The authority citation continues to
read as follows:
I
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Authority: 12 U.S.C. 1813, 1815, 1817,
1819, 1820, 1828, 3103, 3104, 3105, 3108,
3109; Title IX, Pub. L. 98–181, 97 Stat. 1153.
§ 347.202
[Amended]
14. Section 347.202(u) is amended by
removing ‘‘Bank Insurance Fund’’ and
adding in its place ‘‘Deposit Insurance
Fund’’.
I
§ 347.209
15. Section 347.209(a) and (b)(3) are
amended by removing ‘‘deposit
insurance fund’’ in each place it appears
and adding in its place ‘‘Deposit
Insurance Fund’.
[Amended]
16. Section 347.212(b) is amended by
removing ‘‘affected deposit insurance
fund’’ and adding in its place ‘‘Deposit
Insurance Fund’’.
I
PART 348—MANAGEMENT OFFICIAL
INTERLOCKS
17. The authority citation continues to
read as follows:
I
[Amended]
18. Section 348.6(d) is amended by
removing ‘‘12 CFR 303.250’’ and adding
in its place ‘‘12 CFR 303.249’’.
I
PART 357—DETERMINATION OF
ECONOMICALLY DEPRESSED
REGIONS
19. The authority citation continues to
read as follows:
I
Authority: 12 U.S.C. 1819(k)(5).
§ 357.1
[Amended]
20. Section 357.1(a) is amended by
removing ‘‘Savings Association
Insurance Fund members’’ and adding
in its place ‘‘insured savings
associations’’.
PART 362—ACTIVITIES OF INSURED
STATE BANKS AND INSURED
SAVINGS ASSOCIATIONS
21. The authority citation continues to
read as follows:
I
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Authority: 12 U.S.C. 1816, 1818,
1819(a)(Tenth), 1828(j), 1828(m), 1828a,
1831e, 1831w, 1843(l).
[Amended]
22. Section 362.1(d) is amended by
removing ‘‘deposit insurance funds’’
and adding in its place ‘‘Deposit
Insurance Fund’’.
I
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§ 362.3
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PART 363—ANNUAL INDEPENDENT
AUDITS AND REPORTING
REQUIREMENTS
30. The authority citation continues to
read as follows:
I
Authority: 12 U.S.C. 1831m.
§ 363.1
[Amended]
[Amended]
24. Section 362.3 is amended as
follows:
I A. Paragraph (a)(2)(iii)(A)(2) is
amended by removing ‘‘appropriate
deposit insurance fund’’ and adding in
its place ‘‘Deposit Insurance Fund’’.
I B. Paragraph (b)(2)(i) is amended by
removing ‘‘affected deposit insurance
fund’’ and adding in its place ‘‘Deposit
Insurance Fund’’ and by removing
‘‘deposit insurance funds’’ and adding
in its place ‘‘Deposit Insurance Fund’’.
I C. Paragraphs (b)(2)(iii)(A) and (B) are
amended by removing ‘‘deposit
insurance funds’’ in both places it
appears and adding in each place
‘‘Deposit Insurance Fund’’.
31. Section 363.1(b)(3) is amended by
removing ‘‘affected deposit insurance
fund’’ and adding in its place ‘‘Deposit
Insurance Fund’’.
§ 362.4
PART 366—MINIMUM STANDARDS OF
INTEGRITY AND FITNESS FOR AN
FDIC CONTRACTOR
[Amended]
25. Section 362.4 is amended as
follows:
I A. Paragraph (b)(1) is amended by
removing ‘‘affected deposit insurance
fund’’ and adding in its place ‘‘Deposit
Insurance Fund’’ and by removing
‘‘deposit insurance funds’’ and adding
in its place ‘‘Deposit Insurance Fund’’.
I B. Paragraphs (b)(3), (b)(5), (b)(6), and
(b)(7) are amended by removing
‘‘deposit insurance funds’’ in each place
it appears and adding in each such
place ‘‘Deposit Insurance Fund’’.
§ 362.9
[Amended]
26. Section 362.9(c) is amended by
removing ‘‘deposit insurance funds’’
and adding in its place ‘‘Deposit
Insurance Fund’’.
I
I
§ 362.1
23. Section 362.2(p) is amended by
removing ‘‘deposit insurance fund’’ and
adding in its place ‘‘Deposit Insurance
Fund’’ and removing ‘‘any insurance
fund’’ and adding in its place ‘‘the
Deposit Insurance Fund’’.
I
I
Authority: 12 U.S.C. 3207, 12 U.S.C.
1823(k).
§ 348.6
[Amended]
I
[Amended]
I
§ 347.212
§ 362.2
20527
§ 362.11
[Amended]
I 27–28. Section 362.11 is amended by
removing ‘‘affected deposit insurance
fund’’ each place it appears and adding
in each such place ‘‘Deposit Insurance
Fund’’ and by removing ‘‘deposit
insurance funds’’ each place it appears
and adding in each such place ‘‘Deposit
Insurance Fund’’.
§ 362.12
[Amended]
29. Section 362.12 is amended by
removing ‘‘affected deposit insurance
fund’’ each place it appears and adding
in each such place ‘‘Deposit Insurance
Fund’’ and by removing ‘‘deposit
insurance funds’’ each place it appears
and adding in each such place ‘‘Deposit
Insurance Fund’’.
I
PART 364—STANDARDS FOR SAFETY
AND SOUNDNESS
32. The authority citation continues to
read as follows:
I
Authority: 12 U.S.C. 1818 and 1819
(Tenth); 15 U.S.C. 1681b, 1681s, and 1681w.
Appendix A to Part 364 [Amended]
33. Appendix A I. vi, is amended by
removing ‘‘deposit insurance funds’’
and adding in its place ‘‘Deposit
Insurance Fund’’.
I
34. The authority citation continues to
read as follows:
I
Authority: Section 9 (Tenth) of the Federal
Deposit Insurance Act (FDI Act), 12 U.S.C.
1819 (Tenth); sections 12(f)(3) and (4) of the
FDI Act, 12 U.S.C. 1822(f)(3) and (4); and
section 19 of Pub. L. 103–204, 107 Stat. 2369.
§ 366.3
35. Section 366.3(d) is amended by
removing ‘‘a federal deposit insurance
fund’’ and adding in its place ‘‘the
Deposit Insurance Fund (or any
predecessor deposit insurance fund)’’.
I
§ 366.5
Frm 00005
Fmt 4700
Sfmt 4700
[Amended]
36. Section 366.5 introductory text is
amended by removing ‘‘a federal deposit
insurance fund’’ and adding in its place
‘‘the Deposit Insurance Fund (or any
predecessor deposit insurance fund)’’.
I
PART 367—SUSPENSION AND
EXCLUSION OF CONTRACTOR AND
TERMINATION OF CONTRACTS
37. The authority citation continues to
read as follows:
I
Authority: 12 U.S.C. 1822(f)(4) and (5).
I
PO 00000
[Amended]
§ 367.2
[Amended]
38. Amend § 367.2 as follows:
A. Paragraph (s)(1) is amended by
removing ‘‘Bank Insurance Fund (BIF),
the Savings Association Insurance Fund
(SAIF)’’ and adding in its place ‘‘former
I
I
E:\FR\FM\21APR1.SGM
21APR1
20528
Federal Register / Vol. 71, No. 77 / Friday, April 21, 2006 / Rules and Regulations
Bank Insurance Fund (BIF), the former
Savings Association Insurance Fund
(SAIF) or the Deposit Insurance Fund’’.
I B. Paragraph (s)(3) is amended by
removing ‘‘or the BIF, the SAIF’’ and
adding in its place ‘‘or the former BIF,
the former SAIF, the Deposit Insurance
Fund’’.
§ 367.6
[Amended]
39. Section 367.6(d) is amended by
removing ‘‘Federal deposit insurance
funds’’ and adding in its place ‘‘Deposit
Insurance Fund (or any predecessor
deposit insurance fund)’’.
I
By order of the Board of Directors.
Dated at Washington DC, this 4th day of
April, 2006.
Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 06–3721 Filed 4–20–06; 8:45 am]
BILLING CODE 6714–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 39
[Docket No. FAA–2005–23441; Directorate
Identifier 2005–NM–199–AD; Amendment
39–14571; AD 2006–09–01]
RIN 2120–AA64
Airworthiness Directives; Boeing
Model 747–100, 747–100B, 747–100B
SUD, 747–200B, 747–200C, 747–200F,
747–300, 747SR, and 747SP Series
Airplanes
Federal Aviation
Administration (FAA), Department of
Transportation (DOT).
ACTION: Final rule.
wwhite on PROD1PC61 with RULES
AGENCY:
SUMMARY: The FAA is superseding an
existing airworthiness directive (AD),
which applies to certain Boeing Model
747–100, 747–100B, 747–100B SUD,
747–200B, 747–200C, 747–200F, 747–
300, 747SR, and 747SP series airplanes.
That AD currently requires repetitive
detailed and ultrasonic inspections of
the thrust links of the rear engine
mounts for any crack or fracture and
corrective actions if necessary. This new
AD requires repetitive replacement of
the thrust links with new or overhauled
thrust links, which ends the repetitive
detailed and ultrasonic inspections.
This AD results from the finding of
fractured and cracked forward lugs of
the rear engine mount thrust link on the
VerDate Aug<31>2005
16:06 Apr 20, 2006
Jkt 208001
number one strut on two airplanes. We
are issuing this AD to prevent cracked
or fractured thrust links that could lead
to the loss of the load path for the rear
engine mount bulkhead and damage to
other primary engine mount structure,
which could result in the in-flight
separation of the engine from the
airplane and consequent loss of control
of the airplane.
DATES: This AD becomes effective May
26, 2006.
On September 30, 2005 (70 FR 54474,
September 15, 2005), the Director of the
Federal Register approved the
incorporation by reference of Boeing
Alert Service Bulletin 747–71A2309,
dated August 18, 2005.
ADDRESSES: You may examine the AD
docket on the Internet at https://
dms.dot.gov or in person at the Docket
Management Facility, U.S. Department
of Transportation, 400 Seventh Street,
SW., Nassif Building, room PL–401,
Washington, DC.
Contact Boeing Commercial
Airplanes, P.O. Box 3707, Seattle,
Washington 98124–2207, for service
information identified in this AD.
FOR FURTHER INFORMATION CONTACT: Ivan
Li, Aerospace Engineer, Airframe
Branch, ANM–120S, FAA, Seattle
Aircraft Certification Office, 1601 Lind
Avenue, SW., Renton, Washington
98055–4056; telephone (425) 917–6437;
fax (425) 917–6590.
SUPPLEMENTARY INFORMATION:
Examining the Docket
You may examine the airworthiness
directive (AD) docket on the Internet at
https://dms.dot.gov or in person at the
Docket Management Facility office
between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.
The Docket Management Facility office
(telephone (800) 647–5227) is located on
the plaza level of the Nassif Building at
the street address stated in the
ADDRESSES section.
Discussion
The FAA issued a notice of proposed
rulemaking (NPRM) to amend 14 CFR
part 39 to include an AD that
supersedes AD 2005–19–06, amendment
39–14271 (70 FR 54474, September 15,
2005). The existing AD applies to
certain Boeing Model 747–100, 747–
100B, 747–100B SUD, 747–200B, 747–
200C, 747–200F, 747–300, 747SR, and
747SP series airplanes. That NPRM was
published in the Federal Register on
January 11, 2006 (71 FR 1718). That
NPRM proposed to continue to require
PO 00000
Frm 00006
Fmt 4700
Sfmt 4700
repetitive detailed and ultrasonic
inspections of the thrust links of the rear
engine mounts for any crack or fracture
and corrective actions if necessary. That
NPRM also proposed to require
repetitive replacement of the thrust
links with new or overhauled thrust
links, which ends the repetitive detailed
and ultrasonic inspections.
Comments
We provided the public the
opportunity to participate in the
development of this AD. We have
considered the comments that have
been received on the NPRM.
Support for the NPRM
Boeing and Northwest Airlines
(NWA) support the NPRM.
Request for Clarification
NWA states that, as a result of the
inspections required by AD 2005–19–
06, some thrust links may have already
been replaced with new or overhauled
thrust links (prior to the initial
compliance time specified in Table 1 of
the NPRM). According to NWA’s
interpretation of paragraph (e) of the
NPRM, replacements done previously in
accordance with AD 2005–19–06
comply with the initial replacement
specified in the NPRM. We infer that the
commenter would like us to clarify
whether this interpretation is correct.
We agree that, under paragraph (e) of
this AD, the actions required by this AD
must be accomplished within the
specified compliance times, unless the
actions have been previously
accomplished. Therefore, replacement
of a cracked or fractured thrust link in
accordance with paragraph (h) of AD
2005–19–06 constitutes compliance
with the initial replacement required by
paragraph (k) of this AD, for that thrust
link only. No change to this AD is
necessary.
Conclusion
We have carefully reviewed the
available data, including the comments
that have been submitted, and
determined that air safety and the
public interest require adopting the AD
as proposed.
Costs of Compliance
There are about 274 airplanes of the
affected design in the worldwide fleet.
The following table provides the
estimated costs, at an average labor rate
of $65 per hour, for U.S. operators to
comply with this AD.
E:\FR\FM\21APR1.SGM
21APR1
]]>Agencies
[Federal Register Volume 71, Number 77 (Friday, April 21, 2006)]
[Rules and Regulations]
[Pages 20524-20528]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-3721]
=======================================================================
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Parts 303, 308, 312, 336, 347, 348, 357, 362, 363, 364, 366
and 367
RIN 3064--AD04
Revisions To Reflect the Merger of the Bank Insurance Fund and
the Savings Association Insurance Fund
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The FDIC is amending its regulations to reflect the recent
merger of the Bank Insurance Fund and the Savings Association Insurance
Fund, forming the Deposit Insurance Fund. The merger of the two deposit
insurance funds was required by the Federal Deposit Insurance Reform
Act of 2005 and was effectuated by the FDIC as of March 31, 2006. All
revisions to the FDIC's regulations made by the final rule are
conforming changes necessitated by the funds merger.
DATES: Effective Date: The final rule is effective on April 21, 2006.
FOR FURTHER INFORMATION CONTACT: Joseph A. DiNuzzo, Counsel, (202) 898-
7349, Legal Division, Federal Deposit Insurance Corporation,
Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
I. Background
Section 2102 of the Federal Deposit Insurance Reform Act of 2005
(``Reform Act'') (Pub. L. 109-171, 120 Stat. 9) required that the FDIC
merge the Bank Insurance Fund (``BIF'') and Savings Association
Insurance Fund (``SAIF'') into the Deposit Insurance Fund (``DIF'')
effective no later than July 1, 2006. The FDIC effectuated the funds
merger as of March 31, 2006. As a result of the funds merger, the BIF
and SAIF were abolished. Section 8 of the Federal Deposit Insurance
Reform Conforming Amendments Act of 2005 (Pub. L. 109-173, 119 Stat.
3601) (``Amendments Act'') made numerous technical and conforming
amendments to the FDI Act relating to the merger of BIF and SAIF into
the DIF.
The final rule revises the FDIC's regulations to reflect the funds
merger and the elimination of BIF and SAIF. The majority of revisions
are comprised of replacing references to BIF and SAIF with DIF. Other
changes eliminate provisions dealing with fund conversions and entrance
and exit fees previously required when an institution converted from
one fund to the other.
Neither the recent legislation nor the funds merger will affect the
authority of the Financing Corporation (``FICO'') to impose and
collect, with approval of the FDIC, assessments for anticipated
payments, issuance costs and custodial fees on obligations issued by
the FICO.\1\
---------------------------------------------------------------------------
\1\ FICO is a mixed-ownership government corporation created in
1987 to recapitalize the Federal Savings and Loan Insurance
Corporation (``FSLIC'') by issuing bonds to purchase capital stock
or capital certificates issued by the FSLIC. FICO issued 30-year
non-callable bonds of approximately $8.2 billion that mature in 2017
through 2019. Competitive Equality Banking Act, Public Law 100-86,
Title III, amending section 21 of the Federal Home Loan Bank Act, 12
U.S.C. 1441.
---------------------------------------------------------------------------
II. The Final Rule
The following is a section-by-section discussion of the final rule
revisions to the FDIC's regulations.
Part 303--Filing Procedures
The final rule: (1) Eliminates the defined term ``optional
conversion (Oakar transaction)'' in section 303.61(d) because, with the
elimination of BIF and SAIF and the formation of the DIF, fund
conversions are now obsolete; (2) excludes ``deposit insurance fund
conversions'' from the transactions listed in section 303.62
[[Page 20525]]
requiring prior FDIC approval; (3) replaces ``federal deposit insurance
funds'' in section 303.162 with ``Deposit Insurance Fund'; (4) replaces
``Bank Insurance Fund'' in section 303.187(a)(2)(vi) with ``Deposit
Insurance Fund'; (5) replaces ``Bank Insurance Fund (BIF) or the
Savings Association Insurance Fund (SAIF)'' with ``Deposit Insurance
Fund'' in section 303.245(a); and (6) eliminates section 303.246,
entitled ``Insurance Fund Conversions.''
Part 308--Rules of Practice and Procedure
The final rule revises section 308.111(f) by replacing ``the Bank
Insurance Fund or the Savings Association Insurance Fund'' with ``the
Deposit Insurance Fund.''
Part 312--Assessment of Fees Upon Entrance to or Exit From the Bank
Insurance Fund or the Savings Association Insurance Fund
The final rule deletes this entire part because the funds merger
has made fund conversions and the accompanying entrance and exit fees
obsolete. Also, Section 8(a)(4) of the Amendments Act expressly
provides that any funds held in the SAIF exit fee reserve account
provided for in section 312.5(e) be deposited into the general fund of
the DIF. This action was effectuated upon the merger of the funds.
Part 327--Assessments
As a result of the Reform Act, the FDIC is in the process of
revamping its risk-based assessment system. Technical changes to part
327 involving the funds merger will be made as part of the FDIC's
future rulemaking to implement the substantive overhaul of the
assessment system. Section 2109 of the Reform Act specifies that,
during the interim period between the time of the funds merger and the
effective date of new assessment regulations, the existing assessment
regulations shall apply to all DIF members, even though they may refer
to BIF members or SAIF members.
Part 336--FDIC Employees
The final rule revises section 336.3(f) by replacing ``Bank
Insurance Fund, the Savings Association Insurance Fund'' with ``Deposit
Insurance Fund, the former Bank Insurance Fund, the former Savings
Association Insurance Fund.''
Part 347--International Banking
The final rule revises section 347.202(u) by replacing ``Bank
Insurance Fund'' with ``Deposit Insurance Fund.'' Sections 347.209(a)
and 347.209(b)(3) are revised by replacing ``deposit insurance fund''
in each place it appears with ``Deposit Insurance Fund.'' Also, in
section 347.212(b) ``affected deposit insurance fund'' is replaced by
``Deposit Insurance Fund.''
Part 348--Management Official Interlocks
The final rule revises a cross-reference citation in section
348.6(d).
Part 357--Determination of Economically Depressed Regions
The final rule revises section 357.1(a) by replacing ``Savings
Association Insurance Fund members'' with ``insured savings
associations.''
Part 362--Activities of Insured State Banks and Insured Savings
Association
Part 362 is revised: in section 362.1(d) by replacing ``deposit
insurance funds'' with ``Deposit Insurance Fund''; in section 362.2(p)
by replacing ``deposit insurance fund'' with ``Deposit Insurance Fund''
and replacing ``any insurance fund'' with ``the Deposit Insurance
Fund''; in section 362.3(a)(2)(iii)(A)(2) by replacing ``appropriate
deposit insurance fund'' with ``Deposit Insurance Fund'' in section
362.3(b)(2)(i) by replacing ``affected deposit insurance fund'' and
``deposit insurance funds'' with ``Deposit Insurance Fund''; in section
362.3(b)(2)(iii)(A) and (B) by replacing references to ``deposit
insurance funds'' with ``Deposit Insurance Fund''; in section
362.4(b)(1) by replacing ``affected deposit insurance fund'' with
``Deposit Insurance Fund''; in sections 362.4(b)(3), 362.4(b)(5),
362.4(b)(6), 362.4(b)(7) and 362.9(c) by replacing ``deposit insurance
funds'' with ``Deposit Insurance Fund''; and in sections 362.11 and
362.12 by replacing all references to ``affected deposit insurance
fund'' with ``Deposit Insurance Fund'' and by replacing all references
to ``deposit insurance funds'' with ``Deposit Insurance Fund.''
Part 363--Annual Independent Audits and Reporting Requirements
Part 363 is revised by replacing ``affected deposit insurance
fund'' in section 363.1(b)(3) with ``Deposit Insurance Fund.''
Part 364--Standards for Safety and Soundness
Part 364 (Appendix A I. vi) is revised by replacing ``deposit
insurance funds'' with ``Deposit Insurance Fund.''
Part 366--Minimum Standards of Integrity and Fitness for an FDIC
Contractor
Section 366.3(d) and 366.5 are revised by replacing all references
to ``a federal deposit insurance fund'' with ``the Deposit Insurance
Fund (or any predecessor deposit insurance fund).''
Part 367--Suspension and Exclusion of Contractors and Termination of
Contracts
Section 367.2(s)(1) is revised by replacing ``Bank Insurance Fund
(BIF), the Savings Association Insurance Fund (SAIF)'' with ``the
former Bank Insurance Fund (BIF), the former Savings Association
Insurance Fund (SAIF) or the Deposit Insurance Fund''. Section
367.2(s)(3) is revised by replacing ``or the BIF, the SAIF'' with ``or
the former BIF, the former SAIF, the Deposit Insurance Fund.'' Section
367.6(d) is revised by replacing ``Federal deposit insurance funds''
with ``the Deposit Insurance Fund (or any predecessor deposit insurance
fund).''
III. Waiver of APA Requirements
The revisions to the FDIC's regulations made by the final rule are
all technical, conforming and non-discretionary changes required by the
Reform Act and the Amendments Act incident to the merger of BIF and
SAIF and the formation of the DIF. Thus, the FDIC Board of Directors
has determined that the public notice and participation that ordinarily
would be required by the Administrative Procedure Act (5 U.S.C. 553)
before a regulation may take effect are unnecessary and that good cause
exists for an exception to the customary 30-day delayed effective date.
IV. Paperwork Reduction Act
The final rule will not create or modify any collections of
information pursuant to the Paperwork Reduction Act (44 U.S.C. 3501 et
seq.). Consequently, no information has been submitted to the Office of
Management and Budget for review.
V. Regulatory Flexibility Act
A regulatory flexibility analysis is required only when an agency
must publish a notice of proposed rulemaking (5 U.S.C. 603, 604).
Because the revisions to the FDIC's regulations are published in final
form without a notice of proposed rulemaking, no regulatory flexibility
analysis is required.
[[Page 20526]]
VI. The Treasury and General Government Appropriations Act, 1999--
Assessment of Federal Regulations and Policies on Families
The FDIC has determined that the final rule will not affect family
well-being within the meaning of section 654 of the Treasury and
General Government Appropriations Act, enacted as part of the Omnibus
Consolidated and Emergency Supplemental Appropriations Act of 1999
(Pub. L. 105-277, 112 Stat. 2681).
VII. Small Business Regulatory Enforcement Fairness Act
The Office of Management and Budget has determined that the final
rule is not a ``major rule'' within the meaning of the relevant
sections of the Small Business Regulatory Enforcement Fairness Act of
1996 (``SBREFA'') (5 U.S.C. 801 et seq.). As required by SBREFA, the
FDIC will file the appropriate reports with Congress and the General
Accounting Office so that the final rule may be reviewed.
List of Subjects
12 CFR Part 303
Administrative practice procedure, Bank deposit insurance, Banks,
banking, Reporting and recordkeeping requirements, Savings
associations.
12 CFR Part 308
Administrative practice and procedure, Bank deposit insurance,
Banks, banking, Claims, Crime, Equal access to justice, Fraud,
Investigations, Lawyers, Penalties.
12 CFR Part 312
Bank deposit insurance, Savings associations.
12 CFR Part 336
Conflict of interest.
12 CFR Part 347
Authority delegations (Government agencies), Bank deposit
insurance, Banks, banking, Credit, Foreign banking, Investments,
Reporting and recordkeeping requirements, United States investments
abroad.
12 CFR Part 348
Antitrust, banks, banking, holding companies.
12 CFR Part 357
Savings associations.
12 CFR Part 362
Administrative practice and procedure, Authority delegations
(Government Agencies), Bank deposit insurance, Banks, banking,
Investments, Reporting and recordkeeping requirements.
12 CFR Part 363
Accounting, Administrative practice and procedure, Banks, banking,
Reporting and recordkeeping requirements.
12 CFR Part 364
Administrative practice and procedure, Bank deposit insurance,
Reporting and recordkeeping requirements.
12 CFR Part 366
Conflict of interests, Government contracts, Reporting and
recordkeeping requirements.
12 CFR Part 367
Administrative practice and procedure, Conflict of interests,
Government contracts.
0
For the reasons stated above, the Board of Directors of the Federal
Deposit Insurance Corporation hereby amends chapter III of title 12 of
the Code of Federal Regulations as follows:
PART 303--FILING PROCEDURES
0
1. The authority citation for part 303 continues to read as follows:
Authority: 12 U.S.C. 378, 1813, 1815, 1817, 1818, 1819, (Seventh
and Tenth), 1820, 1823, 1828, 1831a, 1831e, 1831o, 1831p-1, 1831w,
1835a, 1843(l), 3104, 3105, 3108, 3207; 15 U.S.C. 1601-1607.
Sec. 303.61 [Amended]
0
2. Section 303.61 paragraph (d) is removed and paragraph (e) is
redesignated as (d).
Sec. 303.62 [Amended]
0
3. Section 303.62 paragraph (b)(3) is removed and paragraphs (b)(4),
(b)(5) and (b)(6) are redesignated, respectively, as (b)(3), (b)(4) and
(b)(5).
Sec. 303.162 [Amended]
0
4. Section 303.162 (b) is amended by removing ``federal deposit
insurance funds'' and adding in its place ``Deposit Insurance Fund''.
Sec. 303.187 [Amended]
0
5. Section 303.187 (a)(2)(vi) is amended by removing ``Bank Insurance
Fund'' and adding in its place ``Deposit Insurance Fund''.
Sec. 303.245 [Amended]
0
6. Section 303.245(a) is amended by removing ``Bank Insurance Fund
(BIF) or the Savings Association Insurance Fund (SAIF)'' and adding in
its place ``Deposit Insurance Fund''.
Sec. 303.246 [Removed]; Sec. Sec. 303.247, 303.248, 303.249,
303.250, 303.251 and 303.252 [Redesignated]
0
7. Section 303.246 is removed and sections 303.247, 303.248, 303.249,
303.250, 303.251 and 303.252 are redesignated, respectively, as
sections 303.246, 303.247, 3030.248, 303.249, 303.250 and 303.251.
PART 308--RULES OF PRACTICE AND PROCEDURE
0
8. The authority citation continues to read as follows:
Authority: 5 U.S.C. 504, 554-557; 12 U.S.C. 93(b), 164, 505,
1815(e), 1817, 1818, 1820, 1828, 1829, 1829b, 1831i, 1831m(g)(4),
1831o, 1831p-1, 1832(c), 1884(b), 1972, 3102, 3108(a), 3349, 3909,
4717; 15 U.S.C. 78(h) and (i), 78o-4(c), 78o-5, 78q-1, 78s, 78u,
78u-2, 78u-3, and 78w, 6801(b), 6805(b)(1); 28 U.S.C. 2461 note; 31
U.S.C. 330, 5321; 42 U.S.C. 4012a; Sec. 3100(s), Pub. L. 104-134,
110 Stat. 1321-358.
Sec. 308.111 [Amended]
0
9. Section 308.111(f) is amended by removing ``Bank Insurance Fund or
the Savings Association Insurance Fund'' and adding in its place
``Deposit Insurance Fund''.
PART 312--[REMOVED]
0
10. Under section 8 of the Federal Deposit Insurance Reform Conforming
Amendments Act of 2005 (Pub. L. 109-173), amend 12 CFR chapter III by
removing part 312.
PART 336--FDIC EMPLOYEES
0
11. The authority citation continues to read as follows:
Authority: 5 U.S.C. 7301; 12 U.S.C. 1819(a).
0
12. Section 336.3(f) is revised to read as follows:
Sec. 336.3 Definitions.
* * * * *
(f) Federal deposit insurance fund means the Deposit Insurance
Fund, the former Bank Insurance Fund, the former Savings Association
Insurance Fund, the Federal Savings and Loan Insurance Corporation
(FSLIC) Resolution Trust, or the funds formerly maintained by the
Resolution Trust Corporation (RTC), or their successors, for the
benefit of insured depositors.
* * * * *
PART 347--INTERNATIONAL BANKING
0
13. The authority citation continues to read as follows:
[[Page 20527]]
Authority: 12 U.S.C. 1813, 1815, 1817, 1819, 1820, 1828, 3103,
3104, 3105, 3108, 3109; Title IX, Pub. L. 98-181, 97 Stat. 1153.
Sec. 347.202 [Amended]
0
14. Section 347.202(u) is amended by removing ``Bank Insurance Fund''
and adding in its place ``Deposit Insurance Fund''.
Sec. 347.209 [Amended]
0
15. Section 347.209(a) and (b)(3) are amended by removing ``deposit
insurance fund'' in each place it appears and adding in its place
``Deposit Insurance Fund'.
Sec. 347.212 [Amended]
0
16. Section 347.212(b) is amended by removing ``affected deposit
insurance fund'' and adding in its place ``Deposit Insurance Fund''.
PART 348--MANAGEMENT OFFICIAL INTERLOCKS
0
17. The authority citation continues to read as follows:
Authority: 12 U.S.C. 3207, 12 U.S.C. 1823(k).
Sec. 348.6 [Amended]
0
18. Section 348.6(d) is amended by removing ``12 CFR 303.250'' and
adding in its place ``12 CFR 303.249''.
PART 357--DETERMINATION OF ECONOMICALLY DEPRESSED REGIONS
0
19. The authority citation continues to read as follows:
Authority: 12 U.S.C. 1819(k)(5).
Sec. 357.1 [Amended]
0
20. Section 357.1(a) is amended by removing ``Savings Association
Insurance Fund members'' and adding in its place ``insured savings
associations''.
PART 362--ACTIVITIES OF INSURED STATE BANKS AND INSURED SAVINGS
ASSOCIATIONS
0
21. The authority citation continues to read as follows:
Authority: 12 U.S.C. 1816, 1818, 1819(a)(Tenth), 1828(j),
1828(m), 1828a, 1831e, 1831w, 1843(l).
Sec. 362.1 [Amended]
0
22. Section 362.1(d) is amended by removing ``deposit insurance funds''
and adding in its place ``Deposit Insurance Fund''.
Sec. 362.2 [Amended]
0
23. Section 362.2(p) is amended by removing ``deposit insurance fund''
and adding in its place ``Deposit Insurance Fund'' and removing ``any
insurance fund'' and adding in its place ``the Deposit Insurance
Fund''.
Sec. 362.3 [Amended]
0
24. Section 362.3 is amended as follows:
0
A. Paragraph (a)(2)(iii)(A)(2) is amended by removing ``appropriate
deposit insurance fund'' and adding in its place ``Deposit Insurance
Fund''.
0
B. Paragraph (b)(2)(i) is amended by removing ``affected deposit
insurance fund'' and adding in its place ``Deposit Insurance Fund'' and
by removing ``deposit insurance funds'' and adding in its place
``Deposit Insurance Fund''.
0
C. Paragraphs (b)(2)(iii)(A) and (B) are amended by removing ``deposit
insurance funds'' in both places it appears and adding in each place
``Deposit Insurance Fund''.
Sec. 362.4 [Amended]
0
25. Section 362.4 is amended as follows:
0
A. Paragraph (b)(1) is amended by removing ``affected deposit insurance
fund'' and adding in its place ``Deposit Insurance Fund'' and by
removing ``deposit insurance funds'' and adding in its place ``Deposit
Insurance Fund''.
0
B. Paragraphs (b)(3), (b)(5), (b)(6), and (b)(7) are amended by
removing ``deposit insurance funds'' in each place it appears and
adding in each such place ``Deposit Insurance Fund''.
Sec. 362.9 [Amended]
0
26. Section 362.9(c) is amended by removing ``deposit insurance funds''
and adding in its place ``Deposit Insurance Fund''.
Sec. 362.11 [Amended]
0
27-28. Section 362.11 is amended by removing ``affected deposit
insurance fund'' each place it appears and adding in each such place
``Deposit Insurance Fund'' and by removing ``deposit insurance funds''
each place it appears and adding in each such place ``Deposit Insurance
Fund''.
Sec. 362.12 [Amended]
0
29. Section 362.12 is amended by removing ``affected deposit insurance
fund'' each place it appears and adding in each such place ``Deposit
Insurance Fund'' and by removing ``deposit insurance funds'' each place
it appears and adding in each such place ``Deposit Insurance Fund''.
PART 363--ANNUAL INDEPENDENT AUDITS AND REPORTING REQUIREMENTS
0
30. The authority citation continues to read as follows:
Authority: 12 U.S.C. 1831m.
Sec. 363.1 [Amended]
0
31. Section 363.1(b)(3) is amended by removing ``affected deposit
insurance fund'' and adding in its place ``Deposit Insurance Fund''.
PART 364--STANDARDS FOR SAFETY AND SOUNDNESS
0
32. The authority citation continues to read as follows:
Authority: 12 U.S.C. 1818 and 1819 (Tenth); 15 U.S.C. 1681b,
1681s, and 1681w.
Appendix A to Part 364 [Amended]
0
33. Appendix A I. vi, is amended by removing ``deposit insurance
funds'' and adding in its place ``Deposit Insurance Fund''.
PART 366--MINIMUM STANDARDS OF INTEGRITY AND FITNESS FOR AN FDIC
CONTRACTOR
0
34. The authority citation continues to read as follows:
Authority: Section 9 (Tenth) of the Federal Deposit Insurance
Act (FDI Act), 12 U.S.C. 1819 (Tenth); sections 12(f)(3) and (4) of
the FDI Act, 12 U.S.C. 1822(f)(3) and (4); and section 19 of Pub. L.
103-204, 107 Stat. 2369.
Sec. 366.3 [Amended]
0
35. Section 366.3(d) is amended by removing ``a federal deposit
insurance fund'' and adding in its place ``the Deposit Insurance Fund
(or any predecessor deposit insurance fund)''.
Sec. 366.5 [Amended]
0
36. Section 366.5 introductory text is amended by removing ``a federal
deposit insurance fund'' and adding in its place ``the Deposit
Insurance Fund (or any predecessor deposit insurance fund)''.
PART 367--SUSPENSION AND EXCLUSION OF CONTRACTOR AND TERMINATION OF
CONTRACTS
0
37. The authority citation continues to read as follows:
Authority: 12 U.S.C. 1822(f)(4) and (5).
Sec. 367.2 [Amended]
0
38. Amend Sec. 367.2 as follows:
0
A. Paragraph (s)(1) is amended by removing ``Bank Insurance Fund (BIF),
the Savings Association Insurance Fund (SAIF)'' and adding in its place
``former
[[Page 20528]]
Bank Insurance Fund (BIF), the former Savings Association Insurance
Fund (SAIF) or the Deposit Insurance Fund''.
0
B. Paragraph (s)(3) is amended by removing ``or the BIF, the SAIF'' and
adding in its place ``or the former BIF, the former SAIF, the Deposit
Insurance Fund''.
Sec. 367.6 [Amended]
0
39. Section 367.6(d) is amended by removing ``Federal deposit insurance
funds'' and adding in its place ``Deposit Insurance Fund (or any
predecessor deposit insurance fund)''.
By order of the Board of Directors.
Dated at Washington DC, this 4th day of April, 2006.
Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 06-3721 Filed 4-20-06; 8:45 am]
BILLING CODE 6714-01-P
