Community Reinvestment Act Regulations, 75521-75523 [2012-30775]

Download as PDF mstockstill on DSK4VPTVN1PROD with Federal Register / Vol. 77, No. 246 / Friday, December 21, 2012 / Rules and Regulations accordance with section 28 of the Basic Provisions. (2) If you relinquish your insurable share on any insurable acreage of citrus fruit on or before the acreage reporting date of the crop year, insurance will not attach, no premium will be due, and no indemnity payable, for such acreage for that crop year. * * * * * 10. * * * * * * * * (b) * * * * * * * * (6) Totaling all such results of section 10(b)(5) for all applicable combinations of commodity types, intended uses, and age classes of trees in the unit and subtracting any indemnities paid for the current crop year to determine the amount payable for the unit. (c) Any individual citrus fruit will be considered 100 percent damaged, if due to an insurable cause of loss it is: (1) On the ground and unmarketable; or (2) Unmarketable because it is immature, unwholesome, decomposed, adulterated, or otherwise unfit for human consumption. (d) Any citrus fruit that can be processed into products for human consumption will be considered marketable. The percent of damage for the marketable citrus fruit (excluding citrus fruit sold as fresh or damaged due to uninsured causes) will be determined by: (1) Subtracting the juice content of the marketable citrus fruit (excluding citrus fruit sold as fresh or damaged due to uninsured causes) from: (i) The average juice content of the fruit produced on the unit for the three previous crop years based on your records, if they are acceptable to us; or (ii) The default juice content provided in the Special Provisions, if at least three years of acceptable juice records are not furnished or the citrus fruit is insured as fresh; (2) Subtracting the juice content of the marketable citrus fruit (excluding citrus fruit sold as fresh or damaged due to uninsured causes) from the official weight per box for the applicable commodity type provided in the Special Provisions; (3) Dividing the result of section 10(d)(1) by the result of 10(b)(2); (4) Dividing the official weight per box for the applicable commodity type provided in the Special Provisions by: (i) The average juice content of the fruit produced on the unit for the three previous crop years based on your records, if they are acceptable to us; or (ii) The default juice content provided in the Special Provisions, if at least VerDate Mar<15>2010 16:08 Dec 20, 2012 Jkt 229001 three years of acceptable juice records are not furnished or the citrus fruit is insured as fresh; and (5) Multiplying the result of section 10(b)(3) by the result of 10(b)(4); and (6) For citrus fruit insured as fresh that has a Fresh Fruit Factor listed in the Special Provisions, making an additional adjustment to the percent of damage by: (i) Subtracting the result of section 10(d)(5) from 100; (ii) Multiplying the result of section 10(d)(6)(i) by the applicable Fresh Fruit Factor located in the Special Provisions; and (iii) Adding the result of section 10(d)(6)(ii) to the result of section 10(d)(5). (e) Notwithstanding section 10(d), for citrus fruit insured as fresh that do not have a Fresh Fruit Factor provided in the Special Provisions, any individual citrus fruit not meeting the applicable United States Standards for packing as fresh fruit due to an insured cause of loss will be considered 100 percent damaged, except that the percent of damage for any production sold for an alternative use will be adjusted in accordance with section 10(d). * * * * * Signed in Washington, DC, on December 18, 2012. William J. Murphy, Manager, Federal Crop Insurance Corporation. [FR Doc. 2012–30842 Filed 12–20–12; 8:45 am] BILLING CODE 3410–08–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency 12 CFR Parts 25 and 195 RIN 1557–AD60 FEDERAL RESERVE SYSTEM 12 CFR Part 228 [Regulation BB; Docket No. R–1454] FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Part 345 RIN 3064–AD90 Community Reinvestment Act Regulations Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve PO 00000 Frm 00013 Fmt 4700 Sfmt 4700 System (Board); and Federal Deposit Insurance Corporation (FDIC). ACTION: Joint final rule; technical amendment. The OCC, the Board, and the FDIC (collectively, the agencies) are amending their Community Reinvestment Act (CRA) regulations to adjust the asset-size thresholds used to define ‘‘small bank’’ or ‘‘small savings association’’ and ‘‘intermediate small bank’’ or ‘‘intermediate small savings association.’’ As required by the CRA regulations, the adjustment to the threshold amount is based on the annual percentage change in the Consumer Price Index. DATES: Effective January 1, 2013. FOR FURTHER INFORMATION CONTACT: OCC: Margaret Hesse, Special Counsel, Community and Consumer Law Division, (202) 649–6350; or Bobbie K. Kennedy, Bank Examiner, Compliance Policy Division, (202) 649– 5470, Office of the Comptroller of the Currency, 250 E Street SW., Washington, DC 20219. Board: Catherine M. J. Gates, Senior Project Manager, (202) 452–2099; or Nikita Pastor, Counsel, (202) 452–3667, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW., Washington, DC 20551. FDIC: Pamela A. Freeman, Senior Examination Specialist, Division of Depositor and Consumer Protection, Compliance & CRA Examinations Branch, (202) 898–3656; or Susan van den Toorn, Counsel, Legal Division, (202) 898–8707, Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, DC 20429. SUPPLEMENTARY INFORMATION: SUMMARY: Background and Description of the Joint Final Rule [Docket ID OCC–2012–0015] AGENCIES: 75521 The agencies’ CRA regulations establish CRA performance standards for small and intermediate small banks and savings associations. The regulations define small and intermediate small banks and savings associations by reference to asset-size criteria expressed in dollar amounts, and they further require the agencies to publish annual adjustments to these dollar figures based on the year-to-year change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPIW), not seasonally adjusted, for each twelve-month period ending in November, with rounding to the nearest million. 12 CFR 25.12(u)(2), 195.12(u)(2), 228.12(u)(2), and 345.12(u)(2). This adjustment formula E:\FR\FM\21DER1.SGM 21DER1 mstockstill on DSK4VPTVN1PROD with 75522 Federal Register / Vol. 77, No. 246 / Friday, December 21, 2012 / Rules and Regulations was first adopted for CRA purposes by the OCC, Board, and FDIC on August 2, 2005, effective September 1, 2005. 70 FR 44256 (Aug. 2, 2005). As explained in the SUPPLEMENTARY INFORMATION section of these agencies’ proposed rule, this particular index is used in other federal lending regulations such as the Home Mortgage Disclosure Act (HMDA). 70 FR 12148 (Mar. 11, 2005). See 12 U.S.C. 2808; 12 CFR 203.2(e)(1). On March 22, 2007, and effective July 1, 2007, the Office of Thrift Supervision (OTS), the agency responsible for regulating savings associations, adopted an annual adjustment formula consistent with that of the other federal banking agencies in its CRA rule set forth at 12 CFR part 563e. 72 FR 13429 (Mar. 22, 2007). Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act),1 and effective July 21, 2011, rulemaking authority for federal and state savings associations was transferred from the OTS to the OCC, and the OCC subsequently republished, at 12 CFR part 195, the CRA regulations applicable to those institutions.2 In addition, the DoddFrank Act transferred responsibility for supervision of savings and loan holding companies and their non-depository subsidiaries from the OTS to the Board, and the Board subsequently amended its CRA regulation to reflect this transfer of supervision authority.3 The threshold for small banks and small savings associations was revised most recently effective January 1, 2012 (76 FR 79529 (Dec. 22, 2011)). The CRA regulations, effective January 1, 2012, provided that banks and savings associations that, as of December 31 of either of the prior two calendar years, had assets of less than $1.160 billion are small banks or small savings associations. Small banks and small savings associations with assets of at least $290 million as of December 31 of both of the prior two calendar years and less than $1.160 billion as of December 31 of either of the prior two calendar years are intermediate small banks or intermediate small savings associations. 12 CFR 25.12(u)(1), 195.12(u)(1), 228.12(u)(1), and 345.12(u)(1). This joint final rule further revises these thresholds. During the period ending November 2012, the CPIW increased by 2.23 percent. As a result, the agencies are revising 12 CFR 25.12(u)(1), 195.12(u)(1), 228.12(u)(1), and 1 Public Law 111–203, 124 Stat. 1376 (2010). 2 See OCC interim final rule, 76 FR 48950 (Aug. 9, 2011). 3 See Board interim final rule, 76 FR 56508 (Sept. 13, 2011). VerDate Mar<15>2010 16:08 Dec 20, 2012 Jkt 229001 345.12(u)(1) to make this annual adjustment. Beginning January 1, 2013, banks and savings associations that, as of December 31 of either of the prior two calendar years, had assets of less than $1.186 billion are small banks or small savings associations. Small banks or small savings associations with assets of at least $296 million as of December 31 of both of the prior two calendar years and less than $1.186 billion as of December 31 of either of the prior two calendar years are intermediate small banks or intermediate small savings associations. The agencies also publish current and historical asset-size thresholds on the Web site of the Federal Financial Institutions Examination Council at https:// www.ffiec.gov/cra/. Administrative Procedure Act and Effective Date Under 5 U.S.C. 553(b)(B) of the Administrative Procedure Act (APA), an agency may, for good cause, find (and incorporate the finding and a brief statement of reasons therefore in the rules issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest. The amendments to the regulations to adjust the asset-size thresholds for small and intermediate small banks and savings associations result from the application of a formula established by a provision in the respective CRA regulations that the agencies previously published for comment. See 70 FR 12148 (Mar. 11, 2005), 70 FR 44256 (Aug. 2, 2005), 71 FR 67826 (Nov. 24, 2006), and 72 FR 13429 (Mar. 22, 2007). Sections 25.12(u)(1), 195.12(u)(1), 228.12(u)(1), and 345.12(u)(1) are amended by adjusting the asset-size thresholds as provided for in §§ 25.12(u)(2), 195.12(u)(2), 228.12(u)(2), and 345.12(u)(2). Accordingly, since the agencies’ rules provide no discretion as to the computation or timing of the revisions to the asset-size criteria, the agencies have determined that publishing a notice of proposed rulemaking and providing opportunity for public comment are unnecessary. The effective date of this joint final rule is January 1, 2013. Under 5 U.S.C. 553(d)(3) of the APA, the required publication or service of a substantive rule shall be made not less than 30 days before its effective date, except, among other things, as provided by the agency for good cause found and published with the rule. Because this rule adjusts asset-size thresholds consistent with the procedural requirements of the CRA rules, the agencies conclude that it is PO 00000 Frm 00014 Fmt 4700 Sfmt 4700 not substantive within the meaning of the APA’s delayed effective date provision. Moreover, the agencies find that there is good cause for dispensing with the delayed effective date requirement, even if it applied, because their current rules already provide notice that the small and intermediate small asset-size thresholds will be adjusted as of December 31 based on twelve-month data as of the end of November each year. Regulatory Flexibility Act The Regulatory Flexibility Act (RFA) does not apply to a rulemaking where a general notice of proposed rulemaking is not required. 5 U.S.C. 603 and 604. As noted previously, the agencies have determined that it is unnecessary to publish a general notice of proposed rulemaking for this joint final rule. Accordingly, the RFA’s requirements relating to an initial and final regulatory flexibility analysis do not apply. Paperwork Reduction Act of 1995 In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. 3506; 5 CFR 1320), the agencies reviewed this final rule. No collections of information pursuant to the Paperwork Reduction Act are contained in the final rule. Unfunded Mandates Reform Act of 1995 Section 202 of the Unfunded Mandates Reform Act of 1995, 2 U.S.C. 1532 (Unfunded Mandates Act), requires that an agency must prepare a budgetary impact statement before promulgating any final rule for which a general notice of proposed rulemaking was published. As discussed above, the agencies have determined that the publication of a general notice of proposed rulemaking is unnecessary. Accordingly, this joint final rule is not subject to section 202 of the Unfunded Mandates Act. List of Subjects 12 CFR Part 25 Community development, Credit, Investments, National banks, Reporting and recordkeeping requirements. 12 CFR Part 195 Community development, Credit, Investments, Reporting and recordkeeping requirements, Savings associations. 12 CFR Part 228 Banks, banking, Community development, Credit, Investments, Reporting and recordkeeping requirements. E:\FR\FM\21DER1.SGM 21DER1 Federal Register / Vol. 77, No. 246 / Friday, December 21, 2012 / Rules and Regulations 31 of either of the prior two calendar years. * * * * * Banks, banking, Community development, Credit, Investments, Reporting and recordkeeping requirements. $1.186 billion as of December 31 of either of the prior two calendar years. * * * * * Federal Reserve System 12 CFR Part 345 Dated: December 13, 2012. Daniel P. Stipano, Acting Chief Counsel. 12 CFR Chapter II Department of the Treasury 12 CFR Chapter I For the reasons set forth in the preamble, the Board of Governors of the Federal Reserve System amends part 228 of chapter II of title 12 of the Code of Federal Regulations as follows: For the reasons discussed in the preamble, 12 CFR parts 25 and 195 are amended as follows: PART 228—COMMUNITY REINVESTMENT (REGULATION BB) Office of the Comptroller of the Currency PART 25—COMMUNITY REINVESTMENT ACT AND INTERSTATE DEPOSIT PRODUCTION REGULATIONS 2. Revise § 25.12(u)(1) to read as follows: ■ Definitions. * * * * * (u) Small bank—(1) Definition. Small bank means a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.186 billion. Intermediate small bank means a small bank with assets of at least $296 million as of December 31 of both of the prior two calendar years and less than $1.186 billion as of December 31 of either of the prior two calendar years. * * * * * PART 195—COMMUNITY REINVESTMENT 3. The authority citation for part 195 continues to read as follows: ■ Authority: 12 U.S.C. 1462a, 1463, 1464, 1814, 1816, 1828(c), 2901 through 2908, and 5412(b)(2)(B). 4. Revise § 195.12(u)(1) to read as follows: Definitions. mstockstill on DSK4VPTVN1PROD with * * * * (u) Small savings association—(1) Definition. Small savings association means a savings association that, as of December 31 of either of the prior two calendar years, had assets of less than $1.186 billion. Intermediate small savings association means a small savings association with assets of at least $296 million as of December 31 of both of the prior two calendar years and less than $1.186 billion as of December VerDate Mar<15>2010 16:08 Dec 20, 2012 Jkt 229001 § 228.12 * * * * * (u) Small bank—(1) Definition. Small bank means a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.186 billion. Intermediate small bank means a small bank with assets of at least $296 million as of December 31 of both of the prior two calendar years and less than $1.186 billion as of December 31 of either of the prior two calendar years. * * * * * Federal Deposit Insurance Corporation Authority and Issuance For the reasons set forth in the preamble, the Board of Directors of the Federal Deposit Insurance Corporation amends part 345 of chapter III of title 12 of the Code of Federal Regulations to read as follows: PART 345—COMMUNITY REINVESTMENT 7. The authority citation for part 345 continues to read as follows: ■ 8. Revise § 345.12(u)(1) to read as follows: ■ Definitions. * * * * * (u) Small bank—(1) Definition. Small bank means a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.186 billion. Intermediate small bank means a small bank with assets of at least $296 million as of December 31 of both of the prior two calendar years and less than PO 00000 By order of the Board of Directors. Dated at Washington, DC, this 6th day of December, 2012. Federal Deposit Insurance Corporation. Valerie J. Best, Assistant Executive Secretary. [FR Doc. 2012–30775 Filed 12–20–12; 8:45 am] BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P Frm 00015 Fmt 4700 COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 1 RIN 3038–AD53 Adaptation of Regulations To Incorporate Swaps—Records of Transactions Commodity Futures Trading Commission. ACTION: Final rules. AGENCY: The Dodd-Frank Wall Street Reform and Consumer Protection Act (‘‘Dodd-Frank Act’’ or ‘‘DFA’’) established a comprehensive new statutory framework for swaps and security-based swaps. The Dodd-Frank Act repeals some sections of the Commodity Exchange Act (‘‘CEA’’ or ‘‘Act’’), amends others, and adds a number of new provisions. The DFA also requires the Commodity Futures Trading Commission (‘‘CFTC’’ or ‘‘Commission’’) to promulgate a number of rules to implement the new framework. The Commission has proposed and finalized numerous rules to satisfy its obligations under the DFA. This final rulemaking makes certain conforming amendments to recordkeeping provisions of regulations 1.31 and 1.35(a) to integrate these regulations more fully with the new framework created by the Dodd-Frank Act.1 This final rulemaking requires futures commission merchants (‘‘FCMs’’), certain introducing brokers (‘‘IBs’’), retail foreign exchange dealers (‘‘RFEDs’’) and certain other registrants SUMMARY: 12 CFR Chapter III § 345.12 By order of the Board of Governors of the Federal Reserve System, acting through the Secretary of the Board under delegated authority, December 17, 2012. Robert deV. Frierson, Secretary of the Board. Definitions. Authority: 12 U.S.C. 1814–1817, 1819– 1820, 1828, 1831u and 2901–2907, 3103– 3104, and 3108(a). ■ * Authority: 12 U.S.C. 321, 325, 1828(c), 1842, 1843, 1844, and 2901 et seq. 6. Revise § 228.12(u)(1) to read as follows: Authority: 12 U.S.C. 21, 22, 26, 27, 30, 36, 93a, 161, 215, 215a, 481, 1814, 1816, 1828(c), 1835a, 2901 through 2908, and 3101 through 3111. § 195.12 5. The authority citation for part 228 continues to read as follows: ■ ■ 1. The authority citation for part 25 continues to read as follows: ■ § 25.12 75523 Sfmt 4700 1 All Commission regulations are in Chapter I of Title 17 of the CFR. E:\FR\FM\21DER1.SGM 21DER1

Agencies

[Federal Register Volume 77, Number 246 (Friday, December 21, 2012)]
[Rules and Regulations]
[Pages 75521-75523]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-30775]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

12 CFR Parts 25 and 195

[Docket ID OCC-2012-0015]
RIN 1557-AD60

FEDERAL RESERVE SYSTEM

12 CFR Part 228

[Regulation BB; Docket No. R-1454]

FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 345

RIN 3064-AD90


Community Reinvestment Act Regulations

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

ACTION: Joint final rule; technical amendment.

-----------------------------------------------------------------------

SUMMARY: The OCC, the Board, and the FDIC (collectively, the agencies) 
are amending their Community Reinvestment Act (CRA) regulations to 
adjust the asset-size thresholds used to define ``small bank'' or 
``small savings association'' and ``intermediate small bank'' or 
``intermediate small savings association.'' As required by the CRA 
regulations, the adjustment to the threshold amount is based on the 
annual percentage change in the Consumer Price Index.

DATES: Effective January 1, 2013.

FOR FURTHER INFORMATION CONTACT:
    OCC: Margaret Hesse, Special Counsel, Community and Consumer Law 
Division, (202) 649-6350; or Bobbie K. Kennedy, Bank Examiner, 
Compliance Policy Division, (202) 649-5470, Office of the Comptroller 
of the Currency, 250 E Street SW., Washington, DC 20219.
    Board: Catherine M. J. Gates, Senior Project Manager, (202) 452-
2099; or Nikita Pastor, Counsel, (202) 452-3667, Division of Consumer 
and Community Affairs, Board of Governors of the Federal Reserve 
System, 20th Street and Constitution Avenue NW., Washington, DC 20551.
    FDIC: Pamela A. Freeman, Senior Examination Specialist, Division of 
Depositor and Consumer Protection, Compliance & CRA Examinations 
Branch, (202) 898-3656; or Susan van den Toorn, Counsel, Legal 
Division, (202) 898-8707, Federal Deposit Insurance Corporation, 550 
17th Street NW., Washington, DC 20429.

SUPPLEMENTARY INFORMATION:

Background and Description of the Joint Final Rule

    The agencies' CRA regulations establish CRA performance standards 
for small and intermediate small banks and savings associations. The 
regulations define small and intermediate small banks and savings 
associations by reference to asset-size criteria expressed in dollar 
amounts, and they further require the agencies to publish annual 
adjustments to these dollar figures based on the year-to-year change in 
the average of the Consumer Price Index for Urban Wage Earners and 
Clerical Workers (CPIW), not seasonally adjusted, for each twelve-month 
period ending in November, with rounding to the nearest million. 12 CFR 
25.12(u)(2), 195.12(u)(2), 228.12(u)(2), and 345.12(u)(2). This 
adjustment formula

[[Page 75522]]

was first adopted for CRA purposes by the OCC, Board, and FDIC on 
August 2, 2005, effective September 1, 2005. 70 FR 44256 (Aug. 2, 
2005). As explained in the SUPPLEMENTARY INFORMATION section of these 
agencies' proposed rule, this particular index is used in other federal 
lending regulations such as the Home Mortgage Disclosure Act (HMDA). 70 
FR 12148 (Mar. 11, 2005). See 12 U.S.C. 2808; 12 CFR 203.2(e)(1). On 
March 22, 2007, and effective July 1, 2007, the Office of Thrift 
Supervision (OTS), the agency responsible for regulating savings 
associations, adopted an annual adjustment formula consistent with that 
of the other federal banking agencies in its CRA rule set forth at 12 
CFR part 563e. 72 FR 13429 (Mar. 22, 2007). Pursuant to the Dodd-Frank 
Wall Street Reform and Consumer Protection Act (Dodd-Frank Act),\1\ and 
effective July 21, 2011, rulemaking authority for federal and state 
savings associations was transferred from the OTS to the OCC, and the 
OCC subsequently republished, at 12 CFR part 195, the CRA regulations 
applicable to those institutions.\2\ In addition, the Dodd-Frank Act 
transferred responsibility for supervision of savings and loan holding 
companies and their non-depository subsidiaries from the OTS to the 
Board, and the Board subsequently amended its CRA regulation to reflect 
this transfer of supervision authority.\3\
---------------------------------------------------------------------------

    \1\ Public Law 111-203, 124 Stat. 1376 (2010).
    \2\ See OCC interim final rule, 76 FR 48950 (Aug. 9, 2011).
    \3\ See Board interim final rule, 76 FR 56508 (Sept. 13, 2011).
---------------------------------------------------------------------------

    The threshold for small banks and small savings associations was 
revised most recently effective January 1, 2012 (76 FR 79529 (Dec. 22, 
2011)). The CRA regulations, effective January 1, 2012, provided that 
banks and savings associations that, as of December 31 of either of the 
prior two calendar years, had assets of less than $1.160 billion are 
small banks or small savings associations. Small banks and small 
savings associations with assets of at least $290 million as of 
December 31 of both of the prior two calendar years and less than 
$1.160 billion as of December 31 of either of the prior two calendar 
years are intermediate small banks or intermediate small savings 
associations. 12 CFR 25.12(u)(1), 195.12(u)(1), 228.12(u)(1), and 
345.12(u)(1). This joint final rule further revises these thresholds.
    During the period ending November 2012, the CPIW increased by 2.23 
percent. As a result, the agencies are revising 12 CFR 25.12(u)(1), 
195.12(u)(1), 228.12(u)(1), and 345.12(u)(1) to make this annual 
adjustment. Beginning January 1, 2013, banks and savings associations 
that, as of December 31 of either of the prior two calendar years, had 
assets of less than $1.186 billion are small banks or small savings 
associations. Small banks or small savings associations with assets of 
at least $296 million as of December 31 of both of the prior two 
calendar years and less than $1.186 billion as of December 31 of either 
of the prior two calendar years are intermediate small banks or 
intermediate small savings associations. The agencies also publish 
current and historical asset-size thresholds on the Web site of the 
Federal Financial Institutions Examination Council at https://www.ffiec.gov/cra/.

Administrative Procedure Act and Effective Date

    Under 5 U.S.C. 553(b)(B) of the Administrative Procedure Act (APA), 
an agency may, for good cause, find (and incorporate the finding and a 
brief statement of reasons therefore in the rules issued) that notice 
and public procedure thereon are impracticable, unnecessary, or 
contrary to the public interest.
    The amendments to the regulations to adjust the asset-size 
thresholds for small and intermediate small banks and savings 
associations result from the application of a formula established by a 
provision in the respective CRA regulations that the agencies 
previously published for comment. See 70 FR 12148 (Mar. 11, 2005), 70 
FR 44256 (Aug. 2, 2005), 71 FR 67826 (Nov. 24, 2006), and 72 FR 13429 
(Mar. 22, 2007). Sections 25.12(u)(1), 195.12(u)(1), 228.12(u)(1), and 
345.12(u)(1) are amended by adjusting the asset-size thresholds as 
provided for in Sec. Sec.  25.12(u)(2), 195.12(u)(2), 228.12(u)(2), and 
345.12(u)(2).
    Accordingly, since the agencies' rules provide no discretion as to 
the computation or timing of the revisions to the asset-size criteria, 
the agencies have determined that publishing a notice of proposed 
rulemaking and providing opportunity for public comment are 
unnecessary.
    The effective date of this joint final rule is January 1, 2013. 
Under 5 U.S.C. 553(d)(3) of the APA, the required publication or 
service of a substantive rule shall be made not less than 30 days 
before its effective date, except, among other things, as provided by 
the agency for good cause found and published with the rule. Because 
this rule adjusts asset-size thresholds consistent with the procedural 
requirements of the CRA rules, the agencies conclude that it is not 
substantive within the meaning of the APA's delayed effective date 
provision. Moreover, the agencies find that there is good cause for 
dispensing with the delayed effective date requirement, even if it 
applied, because their current rules already provide notice that the 
small and intermediate small asset-size thresholds will be adjusted as 
of December 31 based on twelve-month data as of the end of November 
each year.

Regulatory Flexibility Act

    The Regulatory Flexibility Act (RFA) does not apply to a rulemaking 
where a general notice of proposed rulemaking is not required. 5 U.S.C. 
603 and 604. As noted previously, the agencies have determined that it 
is unnecessary to publish a general notice of proposed rulemaking for 
this joint final rule. Accordingly, the RFA's requirements relating to 
an initial and final regulatory flexibility analysis do not apply.

Paperwork Reduction Act of 1995

    In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. 
3506; 5 CFR 1320), the agencies reviewed this final rule. No 
collections of information pursuant to the Paperwork Reduction Act are 
contained in the final rule.

Unfunded Mandates Reform Act of 1995

    Section 202 of the Unfunded Mandates Reform Act of 1995, 2 U.S.C. 
1532 (Unfunded Mandates Act), requires that an agency must prepare a 
budgetary impact statement before promulgating any final rule for which 
a general notice of proposed rulemaking was published. As discussed 
above, the agencies have determined that the publication of a general 
notice of proposed rulemaking is unnecessary. Accordingly, this joint 
final rule is not subject to section 202 of the Unfunded Mandates Act.

List of Subjects

12 CFR Part 25

    Community development, Credit, Investments, National banks, 
Reporting and recordkeeping requirements.

12 CFR Part 195

    Community development, Credit, Investments, Reporting and 
recordkeeping requirements, Savings associations.

12 CFR Part 228

    Banks, banking, Community development, Credit, Investments, 
Reporting and recordkeeping requirements.

[[Page 75523]]

12 CFR Part 345

    Banks, banking, Community development, Credit, Investments, 
Reporting and recordkeeping requirements.

Department of the Treasury

Office of the Comptroller of the Currency

12 CFR Chapter I

    For the reasons discussed in the preamble, 12 CFR parts 25 and 195 
are amended as follows:

PART 25--COMMUNITY REINVESTMENT ACT AND INTERSTATE DEPOSIT 
PRODUCTION REGULATIONS

0
1. The authority citation for part 25 continues to read as follows:

    Authority: 12 U.S.C. 21, 22, 26, 27, 30, 36, 93a, 161, 215, 
215a, 481, 1814, 1816, 1828(c), 1835a, 2901 through 2908, and 3101 
through 3111.


0
2. Revise Sec.  25.12(u)(1) to read as follows:


Sec.  25.12  Definitions.

* * * * *
    (u) Small bank--(1) Definition. Small bank means a bank that, as of 
December 31 of either of the prior two calendar years, had assets of 
less than $1.186 billion. Intermediate small bank means a small bank 
with assets of at least $296 million as of December 31 of both of the 
prior two calendar years and less than $1.186 billion as of December 31 
of either of the prior two calendar years.
* * * * *

PART 195--COMMUNITY REINVESTMENT

0
3. The authority citation for part 195 continues to read as follows:

    Authority: 12 U.S.C. 1462a, 1463, 1464, 1814, 1816, 1828(c), 
2901 through 2908, and 5412(b)(2)(B).


0
4. Revise Sec.  195.12(u)(1) to read as follows:


Sec.  195.12  Definitions.

* * * * *
    (u) Small savings association--(1) Definition. Small savings 
association means a savings association that, as of December 31 of 
either of the prior two calendar years, had assets of less than $1.186 
billion. Intermediate small savings association means a small savings 
association with assets of at least $296 million as of December 31 of 
both of the prior two calendar years and less than $1.186 billion as of 
December 31 of either of the prior two calendar years.
* * * * *

Federal Reserve System

12 CFR Chapter II

    For the reasons set forth in the preamble, the Board of Governors 
of the Federal Reserve System amends part 228 of chapter II of title 12 
of the Code of Federal Regulations as follows:

PART 228--COMMUNITY REINVESTMENT (REGULATION BB)

0
5. The authority citation for part 228 continues to read as follows:

    Authority: 12 U.S.C. 321, 325, 1828(c), 1842, 1843, 1844, and 
2901 et seq.


0
6. Revise Sec.  228.12(u)(1) to read as follows:


Sec.  228.12  Definitions.

* * * * *
    (u) Small bank--(1) Definition. Small bank means a bank that, as of 
December 31 of either of the prior two calendar years, had assets of 
less than $1.186 billion. Intermediate small bank means a small bank 
with assets of at least $296 million as of December 31 of both of the 
prior two calendar years and less than $1.186 billion as of December 31 
of either of the prior two calendar years.
* * * * *

Federal Deposit Insurance Corporation

12 CFR Chapter III

Authority and Issuance

    For the reasons set forth in the preamble, the Board of Directors 
of the Federal Deposit Insurance Corporation amends part 345 of chapter 
III of title 12 of the Code of Federal Regulations to read as follows:

PART 345--COMMUNITY REINVESTMENT

0
7. The authority citation for part 345 continues to read as follows:

    Authority: 12 U.S.C. 1814-1817, 1819-1820, 1828, 1831u and 2901-
2907, 3103-3104, and 3108(a).


0
8. Revise Sec.  345.12(u)(1) to read as follows:


Sec.  345.12  Definitions.

* * * * *
    (u) Small bank--(1) Definition. Small bank means a bank that, as of 
December 31 of either of the prior two calendar years, had assets of 
less than $1.186 billion. Intermediate small bank means a small bank 
with assets of at least $296 million as of December 31 of both of the 
prior two calendar years and less than $1.186 billion as of December 31 
of either of the prior two calendar years.
* * * * *

    Dated: December 13, 2012.
Daniel P. Stipano,
Acting Chief Counsel.

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Secretary of the Board under delegated 
authority, December 17, 2012.
Robert deV. Frierson,
Secretary of the Board.

    By order of the Board of Directors.

    Dated at Washington, DC, this 6th day of December, 2012.

Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2012-30775 Filed 12-20-12; 8:45 am]
BILLING CODE 4810-33-P; 6210-01-P; 6714-01-P

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