Community Reinvestment Act Regulations, 81162-81165 [2015-32670]
Download as PDF
<![CDATA[
81162
Federal Register / Vol. 80, No. 249 / Tuesday, December 29, 2015 / Rules and Regulations
Signed in Washington, DC, on December
17, 2015.
Brandon Willis,
Manager, Federal Crop Insurance
Corporation.
Division, (202) 649–6350; Priscilla
Benner, Attorney, Legislative and
Regulatory Activities Division, (202)
649–5490; for persons who are deaf or
hard of hearing, TTY, (202) 649–5597;
or Bobbie K. Kennedy, Bank Examiner,
Compliance Policy Division, (202) 649–
5470, Office of the Comptroller of the
Currency, 400 7th Street SW.,
Washington, DC 20219.
Board: Amal S. Patel, Senior
Supervisory Consumer Financial
Services Analyst, (202) 912–7879; 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: Patience R. Singleton, Senior
Policy Analyst, Supervisory Policy
Branch, Division of Depositor and
Consumer Protection, (202) 898–6859;
or Richard M. Schwartz, Counsel, Legal
Division, (202) 898–7424, Federal
Deposit Insurance Corporation, 550 17th
Street NW., Washington, DC 20429.
[FR Doc. 2015–32308 Filed 12–28–15; 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
[Docket ID OCC–2015–0025]
RIN 1557–AE01
FEDERAL RESERVE SYSTEM
12 CFR Part 228
[Regulation BB; Docket No. R–1526]
RIN 7100–AE40
FEDERAL DEPOSIT INSURANCE
CORPORATION
SUPPLEMENTARY INFORMATION:
12 CFR Part 345
Background and Description of the
Joint Final Rule
RIN 3064–AD90
Community Reinvestment Act
Regulations
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.
AGENCY:
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 for Urban Wage
Earners and Clerical Workers (CPI–W).
The Agencies also propose to make
technical edits to remove obsolete
references to the Office of Thrift
Supervision (OTS) and update crossreferences to regulations implementing
certain Federal consumer financial laws
in their CRA regulations.
DATES: January 1, 2016.
FOR FURTHER INFORMATION CONTACT:
OCC: Margaret Hesse, Senior Counsel,
Community and Consumer Law
jstallworth on DSK7TPTVN1PROD with RULES
SUMMARY:
VerDate Sep<11>2014
15:24 Dec 28, 2015
Jkt 238001
The Agencies’ CRA regulations
establish CRA performance standards
for small and intermediate small banks
and savings associations. The CRA
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 CPI–W, not
seasonally adjusted, for each twelvemonth 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 was first adopted for CRA
purposes by the OCC, the Board, and the
FDIC on August 2, 2005, effective
September 1, 2005. 70 FR 44256 (Aug.
2, 2005). The Agencies noted that the
CPI–W is also used in connection with
other federal laws, such as the Home
Mortgage Disclosure Act. See 12 U.S.C.
2808; 12 CFR 1003.2. On March 22,
2007, and effective July 1, 2007, the
former OTS, the agency then
responsible for regulating savings
associations, adopted an annual
adjustment formula consistent with that
of the other federal banking agencies in
its CRA rule previously set forth at 12
CFR 563e. 72 FR 13429 (Mar. 22, 2007).
Pursuant to the Dodd-Frank Wall
Street Reform and Consumer Protection
PO 00000
Frm 00004
Fmt 4700
Sfmt 4700
Act (Dodd-Frank Act),1 and effective
July 21, 2011, CRA rulemaking authority
for federal and state savings associations
was transferred from the OTS to the
OCC, and the OCC subsequently
republished, at 12 CFR 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
supervisory authority.3
The threshold for small banks and
small savings associations was revised
most recently in December 2014, and
became effective January 1, 2015 (79 FR
77852 (Dec. 29, 2014)). The current CRA
regulations provide that banks and
savings associations that, as of
December 31 of either of the prior two
calendar years, had assets of less than
$1.221 billion are small banks or small
savings associations. Small banks and
small savings associations with assets of
at least $305 million as of December 31
of both of the prior two calendar years
and less than $1.221 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 revises
these thresholds.
During the period ending November
2015, the CPI–W decreased by 0.42
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, 2016,
banks and savings associations that, as
of December 31 of either of the prior two
calendar years, had assets of less than
$1.216 billion are small banks or small
savings associations. Small banks and
small savings associations with assets of
at least $304 million as of December 31
of both of the prior two calendar years
and less than $1.216 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/.
1 Pub.
L. 111–203, 124 Stat. 1376 (2010).
OCC interim final rule, 76 FR 48950 (Aug.
9, 2011).
3 See Board interim final rule, 76 FR 56508 (Sept.
13, 2011).
2 See
E:\FR\FM\29DER1.SGM
29DER1
Federal Register / Vol. 80, No. 249 / Tuesday, December 29, 2015 / Rules and Regulations
In addition, the Agencies are making
technical edits to 12 CFR 25.42, 228.42,
and 345.42 to remove obsolete
references to the ‘‘Office of Thrift
Supervision’’ and to 12 CFR 563e in the
CRA rules. As explained above, Title III
of the Dodd-Frank Act transferred the
powers, authorities, rights, and duties of
the OTS to the Agencies. Specifically,
among other changes, Title III abolished
the OTS; transferred rulemaking and
supervisory authority over savings and
loan holding companies and
supervisory authority over their nondepository subsidiaries to the Board;
transferred rulemaking authority over
federal savings associations and state
savings associations, and supervisory
authority over federal savings
associations, to the OCC; and transferred
supervisory authority over state savings
associations to the FDIC.4
Further, the Agencies are updating
references to certain regulations
implementing Federal consumer
financial laws in the CRA regulations, as
Title X of the Dodd-Frank Act
transferred rulemaking authority for a
number of Federal consumer financial
laws, including the Home Mortgage
Disclosure Act (HMDA) and the Truth
in Lending Act (TILA), to the Consumer
Financial Protection Bureau (CFPB),
effective July 21, 2011. The CFPB
subsequently published an interim final
rule to establish its own Regulation C to
implement HMDA,5 and also published
an interim final rule to establish its own
Regulation Z to implement TILA.6
Accordingly, the Agencies are updating
the citations in the CRA regulations 7 to
reference the CFPB’s Regulation C and
Regulation Z, located at 12 CFR 1003
and 12 CFR 1026, respectively.
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
4 See
jstallworth on DSK7TPTVN1PROD with RULES
5 12
12 U.S.C. 5412–5413.
CFR part 1003. See 76 FR 78465 (Dec. 19,
2011).
6 12 CFR part 1026. See 76 FR 79768 (Dec. 22,
2011).
7 See 12 CFR 25.12(h)(2)(i), 25.12(j)(2), 25.12(l),
25.42(b)(3), 25.42(d), 25.43(b)(2), 195.12(h)(2)(i),
195.12(j)(2), 195.12(l), 195.42(b)(3), 195.42(d),
195.43(b)(2), 228.12(h)(2)(i), 228.12(j)(2), 228.12(l),
228.42(b)(3), 228.42(d), 228.43(b)(2), 345.12(h)(2)(i),
345.12(j)(2), 345.12(l), 345.42(b)(3), 345.42(d), and
345.43(b)(2).
VerDate Sep<11>2014
15:24 Dec 28, 2015
Jkt 238001
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, the Agencies’ rules
provide no discretion as to the
computation or timing of the revisions
to the asset-size criteria. Furthermore,
deleting the obsolete references to the
‘‘Office of Thrift Supervision’’ and its
CRA regulation and updating crossreferences to reflect the transfer of
rulemaking authority for many Federal
consumer financial laws to the CFPB are
technical and non-substantive revisions.
For these reasons, 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, 2016. 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. In addition, the
technical edits to remove obsolete
references to the ‘‘Office of Thrift
Supervision’’ and its CRA rule in the
Agencies’ CRA rules and update
citations to certain regulations are not
substantive within the meaning of the
APA’s delayed effective date provision.
Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA)
does not apply to a rulemaking when a
general notice of proposed rulemaking
is not required. 5 U.S.C. 603 and 604.
As noted previously, the Agencies have
PO 00000
Frm 00005
Fmt 4700
Sfmt 4700
81163
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
(Unfunded Mandates Act), 2 U.S.C.
1532, requires the OCC to prepare a
budgetary impact statement before
promulgating any final rule for which a
general notice of proposed rulemaking
was published. As discussed above, the
OCC has 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.
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:
E:\FR\FM\29DER1.SGM
29DER1
81164
Federal Register / Vol. 80, No. 249 / Tuesday, December 29, 2015 / Rules and Regulations
PART 25—COMMUNITY
REINVESTMENT ACT AND
INTERSTATE DEPOSIT PRODUCTION
REGULATIONS
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.
2. Section 25.12 is amended:
a. In paragraph (h)(2)(i), by removing
‘‘part 203’’ and adding ‘‘part 1003’’ in its
place;
■ b. In paragraph (j)(2), by removing
‘‘§ 226.2’’ and adding ‘‘§ 1026.2’’ in its
place;
■ c. In paragraph (l), by removing
‘‘§ 203.2’’ and adding ‘‘§ 1003.2’’ in its
place; and
■ d. By revising paragraph § 25.12(u)(1).
The revision reads as follows:
■
■
§ 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 $1.216
billion. Intermediate small bank means
a small bank with assets of at least $304
million as of December 31 of both of the
prior two calendar years and less than
$1.216 billion as of December 31 of
either of the prior two calendar years.
*
*
*
*
*
§ 25.42
[Amended]
a. In paragraph (h)(2)(i), by removing
‘‘part 203’’ and adding ‘‘part 1003’’ in its
place;
■ b. In paragraph (j)(2), by removing
‘‘§ 226.2’’ and adding ‘‘§ 1026.2’’ in its
place;
■ c. In paragraph (l), by removing
‘‘§ 203.2’’ and adding ‘‘§ 1003.2’’ in its
place; and
■ d. By revising paragraph (u)(1).
The revision is set forth below:
■
§ 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
$1.216 billion. Intermediate small
savings association means a small
savings association with assets of at
least $304 million as of December 31 of
both of the prior two calendar years and
less than $1.216 billion as of December
31 of either of the prior two calendar
years.
*
*
*
*
*
§ 195.42
7. Section 195.42 is amended in
paragraphs (b)(3) and (d) by removing
‘‘part 203’’ and adding ‘‘part 1003’’ in its
place, wherever it appears.
8. Section 195.43 is amended in
paragraph (b)(2) by removing ‘‘part 203’’
and adding ‘‘part 1003’’ in its place.
■
Federal Reserve System
■
12 CFR Chapter II
§ 25.43
[Amended]
4. Section 25.43 is amended in
paragraph (b)(2) by removing ‘‘part 203’’
and adding ‘‘part 1003’’ in its place.
jstallworth on DSK7TPTVN1PROD with RULES
■
PART 195—COMMUNITY
REINVESTMENT
5. 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).
■
6. Section 195.12 is amended:
VerDate Sep<11>2014
15:24 Dec 28, 2015
Jkt 238001
*
*
*
*
(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 $1.216
billion. Intermediate small bank means
a small bank with assets of at least $304
million as of December 31 of both of the
prior two calendar years and less than
$1.216 billion as of December 31 of
either of the prior two calendar years.
*
*
*
*
*
§ 228.42
[Amended]
11. Section 228.42 is amended:
a. In paragraphs (b)(3) and (d), by
removing ‘‘part 203’’ and adding ‘‘part
1003’’ in its place, wherever it appears;
and
■ b. In paragraph (i), by removing ‘‘, the
Federal Deposit Insurance Corporation,
and the Office of Thrift Supervision,’’
and adding ‘‘and the Federal Deposit
Insurance Corporation,’’ in its place,
and by removing ‘‘parts 25, 345, or
563e’’ and adding ‘‘parts 25, 195, or
345’’ in its place.
■
■
[Amended]
12. Section 228.43 is amended in
paragraph (b)(2), by removing ‘‘part
203’’ and adding ‘‘part 1003’’ in its
place.
■
Federal Deposit Insurance Corporation
[Amended]
■
3. Section 25.42 is amended:
a. In paragraphs (b)(3) and (d), by
removing ‘‘part 203’’ and adding ‘‘part
1003’’ in its place, wherever it appears;
and
■ b. In paragraph (i), by removing ‘‘, the
Federal Deposit Insurance Corporation,
and the Office of Thrift Supervision,’’
and adding ‘‘and the Federal Deposit
Insurance Corporation,’’ in its place,
and by removing ‘‘parts 228, 345, or
563e’’ and adding ‘‘parts 195, 228, or
345’’ in its place.
Definitions.
*
§ 228.43
[Amended]
■
§ 195.43
§ 228.12
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)
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
13. The authority citation for part 345
continues to read as follows:
■
■
9. The authority citation for part 228
continues to read as follows:
Authority: 12 U.S.C. 1814–1817, 1819–
1820, 1828, 1831u and 2901–2908, 3103–
3104, and 3108(a).
Authority: 12 U.S.C. 321, 325, 1828(c),
1842, 1843, 1844, and 2901 et seq.
■
■
10. Section 228.12 is amended:
a. In paragraph (h)(2)(i), by removing
‘‘part 203’’ and adding ‘‘part 1003’’ in its
place;
■ b. In paragraph (j)(2), by removing
‘‘§ 226.2’’ and adding ‘‘§ 1026.2’’ in its
place;
■ c. In paragraph (l), by removing
‘‘§ 203.2’’ and adding ‘‘§ 1003.2’’ in its
place; and
■ d. Revising paragraph (u)(1).
The revision reads as follows:
■
■
PO 00000
Frm 00006
Fmt 4700
Sfmt 4700
14. Section 345.12 is amended:
a. In paragraph (h)(2)(i), by removing
‘‘part 203’’ and adding ‘‘part 1003’’ in its
place;
■ b. In paragraph (j)(2), by removing
‘‘§ 226.2’’ and adding ‘‘§ 1026.2’’ in its
place;
■ c. In paragraph (l), by removing
‘‘§ 203.2’’ and adding ‘‘§ 1003.2’’ in its
place; and
■ d. Revising paragraph (u)(1).
The revision reads as follows:
§ 345.12
*
E:\FR\FM\29DER1.SGM
*
Definitions.
*
29DER1
*
*
Federal Register / Vol. 80, No. 249 / Tuesday, December 29, 2015 / Rules and Regulations
(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 $1.216
billion. Intermediate small bank means
a small bank with assets of at least $304
million as of December 31 of both of the
prior two calendar years and less than
$1.216 billion as of December 31 of
either of the prior two calendar years.
*
*
*
*
*
§ 345.42
[Amended]
15. Section 345.42 is amended:
a. In paragraphs (b)(3) and (d), by
removing ‘‘part 203’’ and adding ‘‘part
1003’’ in its place, wherever it appears;
and
■ b. In paragraph (i), by removing ‘‘, the
Office of the Comptroller of the
Currency, and the Office of Thrift
Supervision,’’ and adding ‘‘and the
Office of the Comptroller of the
Currency,’’ in its place, and by removing
‘‘parts 25, 228, or 563e’’ and adding
‘‘parts 25, 195, or 228’’ in its place.
■
■
§ 345.43
[Amended]
16. Section 345.43 is amended in
paragraph (b)(2) by removing ‘‘part 203’’
and adding ‘‘part 1003’’ in its place.
■
Dated: December 16, 2015.
Amy S. Friend,
Senior Deputy Comptroller and 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 16, 2015.
Robert deV. Frierson,
Secretary of the Board.
By order of the Board of Directors.
Dated at Washington, DC, this 15th day of
December, 2015.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2015–32670 Filed 12–28–15; 8:45 am]
BILLING CODE 4810–33–P; 6210–01–6714–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 39
jstallworth on DSK7TPTVN1PROD with RULES
[Docket No. FAA–2015–1199; Directorate
Identifier 2014–NM–008–AD; Amendment
39–18351; AD 2015–26–03]
RIN 2120–AA64
Airworthiness Directives; Bombardier,
Inc. Airplanes
Federal Aviation
Administration (FAA), Department of
Transportation (DOT).
AGENCY:
VerDate Sep<11>2014
15:24 Dec 28, 2015
Jkt 238001
ACTION:
Final rule.
We are superseding
Airworthiness Directive (AD) 2011–07–
10 for certain Bombardier, Inc. Model
BD–100–1A10 (Challenger 300)
airplanes. AD 2011–07–10 required
revising the Airworthiness Limitations
section of the Instructions for Continued
Airworthiness; doing detailed visual
inspections; removing discrepant
material; cleaning the surfaces of the
valves, the plug of the sensing port, and
the cabin pressure-sensing port plug;
securing the insulation; installing a new
safety valve, and replacing certain cabin
pressure-sensing port plugs. This new
AD retains all requirements of AD 2011–
07–10, and requires a detailed visual
inspection of both safety valves and the
surrounding area for foreign material,
room temperature vulcanizing (RTV)
silicone, contamination, foam on the
bulkhead structure, tape or insulation,
and loose material; and corrective
actions if necessary. This AD was
prompted by reports of in-flight loss of
cabin pressurization that was attributed
to partial blockage of a safety valve
cabin pressure-sensing port in
conjunction with a failed safety valve
manometric capsule. We are issuing this
AD to detect and correct blockage of a
safety valve cabin pressure-sensing port,
which could result in loss of cabin
pressure.
SUMMARY:
This AD becomes effective
February 2, 2016.
The Director of the Federal Register
approved the incorporation by reference
of a certain publication listed in this AD
as of February 2, 2016.
The Director of the Federal Register
approved the incorporation by reference
of certain other publications listed in
this AD as of May 5, 2011 (76 FR 17758,
March 31, 2011).
ADDRESSES: You may examine the AD
docket on the Internet at https://
www.regulations.gov/
#!docketDetail;D=FAA-2015-1199; or in
person at the Docket Management
Facility, U.S. Department of
Transportation, Docket Operations, M–
30, West Building Ground Floor, Room
W12–140, 1200 New Jersey Avenue SE.,
Washington, DC.
For service information identified in
this final rule, contact Bombardier, Inc.,
ˆ
400 Cote-Vertu Road West, Dorval,
´
Quebec H4S 1Y9, Canada; telephone
514–855–5000; fax 514–855–7401; email
thd.crj@aero.bombardier.com; Internet
https://www.bombardier.com. You may
view this referenced service information
at the FAA, Transport Airplane
Directorate, 1601 Lind Avenue SW.,
Renton, WA. For information on the
DATES:
PO 00000
Frm 00007
Fmt 4700
Sfmt 4700
81165
availability of this material at the FAA,
call 425–227–1221. It is also available
on the Internet at https://
www.regulations.gov by searching for
and locating Docket No. FAA–2015–
1199.
FOR FURTHER INFORMATION CONTACT:
Luke Walker, Aerospace Engineer,
Airframe and Mechanical Systems
Branch, ANE–171, FAA, New York
Aircraft Certification Office (ACO), 1600
Stewart Avenue, Suite 410, Westbury,
NY 11590; telephone 516–228–7363; fax
516–794–5531.
SUPPLEMENTARY INFORMATION:
Discussion
We issued a notice of proposed
rulemaking (NPRM) to amend 14 CFR
part 39 to supersede AD 2011–07–10,
Amendment 39–16647 (76 FR 17758,
March 31, 2011). AD 2011–07–10
applied to certain Bombardier, Inc.
Model BD–100–1A10 (Challenger 300)
airplanes. The NPRM published in the
Federal Register on April 15, 2015 (80
FR 20181) (‘‘the NPRM’’).
Transport Canada Civil Aviation
(TCCA), which is the aviation authority
for Canada, has issued Canadian
Airworthiness Directive CF–2010–06R1,
dated August 8, 2013 (referred to after
this as the Mandatory Continuing
Airworthiness Information, or ‘‘the
MCAI’’), to correct an unsafe condition
for certain Bombardier, Inc. Model BD–
100–1A10 (Challenger 300) airplanes.
The MCAI states:
Investigation of a high altitude loss of
cabin pressurization on a BD–100–1A10
aeroplane determined that it was caused by
a partial blockage of a safety valve cabin
pressure-sensing port, in conjunction with a
dormant failure/leakage of the safety valve
manometric capsule. The blockage, caused by
accumulation of lint/dust on the grid of the
port plug, did not allow sufficient airflow
through the cabin pressure-sensing port to
compensate for the rate of leakage from the
manometric capsule, resulting in the opening
of the safety valve. It was also determined
that failure of the manometric capsule alone
would not result in the opening of the safety
valve.
The original issue of this [Canadian] AD
mandated a revision of the maintenance
schedule, the cleaning of the safety valves,
the removal of material from the area
surrounding the safety valves and the
modification of the safety valves with a
gridless cabin pressure-sensing port plug.
Since the original issue of this [Canadian]
AD, there have been two additional reported
events of in-flight loss of cabin pressurization
that were attributed to partial blockage of a
safety valve cabin pressure-sensing port in
conjunction with a failed safety valve
manometric capsule.
Bombardier Aerospace has determined that
aeroplanes with a particular interior
installation require improved instructions to
E:\FR\FM\29DER1.SGM
29DER1
]]>Agencies
[Federal Register Volume 80, Number 249 (Tuesday, December 29, 2015)]
[Rules and Regulations]
[Pages 81162-81165]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-32670]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
12 CFR Parts 25 and 195
[Docket ID OCC-2015-0025]
RIN 1557-AE01
FEDERAL RESERVE SYSTEM
12 CFR Part 228
[Regulation BB; Docket No. R-1526]
RIN 7100-AE40
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Part 345
RIN 3064-AD90
Community Reinvestment Act Regulations
AGENCY: 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 for Urban Wage
Earners and Clerical Workers (CPI-W). The Agencies also propose to make
technical edits to remove obsolete references to the Office of Thrift
Supervision (OTS) and update cross-references to regulations
implementing certain Federal consumer financial laws in their CRA
regulations.
DATES: January 1, 2016.
FOR FURTHER INFORMATION CONTACT:
OCC: Margaret Hesse, Senior Counsel, Community and Consumer Law
Division, (202) 649-6350; Priscilla Benner, Attorney, Legislative and
Regulatory Activities Division, (202) 649-5490; for persons who are
deaf or hard of hearing, TTY, (202) 649-5597; or Bobbie K. Kennedy,
Bank Examiner, Compliance Policy Division, (202) 649-5470, Office of
the Comptroller of the Currency, 400 7th Street SW., Washington, DC
20219.
Board: Amal S. Patel, Senior Supervisory Consumer Financial
Services Analyst, (202) 912-7879; 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: Patience R. Singleton, Senior Policy Analyst, Supervisory
Policy Branch, Division of Depositor and Consumer Protection, (202)
898-6859; or Richard M. Schwartz, Counsel, Legal Division, (202) 898-
7424, 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
CRA 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 CPI-W, 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 was first adopted for CRA purposes by the OCC, the
Board, and the FDIC on August 2, 2005, effective September 1, 2005. 70
FR 44256 (Aug. 2, 2005). The Agencies noted that the CPI-W is also used
in connection with other federal laws, such as the Home Mortgage
Disclosure Act. See 12 U.S.C. 2808; 12 CFR 1003.2. On March 22, 2007,
and effective July 1, 2007, the former OTS, the agency then responsible
for regulating savings associations, adopted an annual adjustment
formula consistent with that of the other federal banking agencies in
its CRA rule previously set forth at 12 CFR 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, CRA
rulemaking authority for federal and state savings associations was
transferred from the OTS to the OCC, and the OCC subsequently
republished, at 12 CFR 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 supervisory authority.\3\
---------------------------------------------------------------------------
\1\ Pub. L. 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 in December 2014, and became effective January 1,
2015 (79 FR 77852 (Dec. 29, 2014)). The current CRA regulations provide
that banks and savings associations that, as of December 31 of either
of the prior two calendar years, had assets of less than $1.221 billion
are small banks or small savings associations. Small banks and small
savings associations with assets of at least $305 million as of
December 31 of both of the prior two calendar years and less than
$1.221 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 revises these thresholds.
During the period ending November 2015, the CPI-W decreased by 0.42
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, 2016, banks and savings associations
that, as of December 31 of either of the prior two calendar years, had
assets of less than $1.216 billion are small banks or small savings
associations. Small banks and small savings associations with assets of
at least $304 million as of December 31 of both of the prior two
calendar years and less than $1.216 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/.
[[Page 81163]]
In addition, the Agencies are making technical edits to 12 CFR
25.42, 228.42, and 345.42 to remove obsolete references to the ``Office
of Thrift Supervision'' and to 12 CFR 563e in the CRA rules. As
explained above, Title III of the Dodd-Frank Act transferred the
powers, authorities, rights, and duties of the OTS to the Agencies.
Specifically, among other changes, Title III abolished the OTS;
transferred rulemaking and supervisory authority over savings and loan
holding companies and supervisory authority over their non-depository
subsidiaries to the Board; transferred rulemaking authority over
federal savings associations and state savings associations, and
supervisory authority over federal savings associations, to the OCC;
and transferred supervisory authority over state savings associations
to the FDIC.\4\
---------------------------------------------------------------------------
\4\ See 12 U.S.C. 5412-5413.
---------------------------------------------------------------------------
Further, the Agencies are updating references to certain
regulations implementing Federal consumer financial laws in the CRA
regulations, as Title X of the Dodd-Frank Act transferred rulemaking
authority for a number of Federal consumer financial laws, including
the Home Mortgage Disclosure Act (HMDA) and the Truth in Lending Act
(TILA), to the Consumer Financial Protection Bureau (CFPB), effective
July 21, 2011. The CFPB subsequently published an interim final rule to
establish its own Regulation C to implement HMDA,\5\ and also published
an interim final rule to establish its own Regulation Z to implement
TILA.\6\ Accordingly, the Agencies are updating the citations in the
CRA regulations \7\ to reference the CFPB's Regulation C and Regulation
Z, located at 12 CFR 1003 and 12 CFR 1026, respectively.
---------------------------------------------------------------------------
\5\ 12 CFR part 1003. See 76 FR 78465 (Dec. 19, 2011).
\6\ 12 CFR part 1026. See 76 FR 79768 (Dec. 22, 2011).
\7\ See 12 CFR 25.12(h)(2)(i), 25.12(j)(2), 25.12(l),
25.42(b)(3), 25.42(d), 25.43(b)(2), 195.12(h)(2)(i), 195.12(j)(2),
195.12(l), 195.42(b)(3), 195.42(d), 195.43(b)(2), 228.12(h)(2)(i),
228.12(j)(2), 228.12(l), 228.42(b)(3), 228.42(d), 228.43(b)(2),
345.12(h)(2)(i), 345.12(j)(2), 345.12(l), 345.42(b)(3), 345.42(d),
and 345.43(b)(2).
---------------------------------------------------------------------------
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, the Agencies' rules provide no discretion as to the
computation or timing of the revisions to the asset-size criteria.
Furthermore, deleting the obsolete references to the ``Office of Thrift
Supervision'' and its CRA regulation and updating cross-references to
reflect the transfer of rulemaking authority for many Federal consumer
financial laws to the CFPB are technical and non-substantive revisions.
For these reasons, 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, 2016.
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. In addition, the technical edits to remove obsolete
references to the ``Office of Thrift Supervision'' and its CRA rule in
the Agencies' CRA rules and update citations to certain regulations are
not substantive within the meaning of the APA's delayed effective date
provision.
Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA) does not apply to a rulemaking
when 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 (Unfunded
Mandates Act), 2 U.S.C. 1532, requires the OCC to prepare a budgetary
impact statement before promulgating any final rule for which a general
notice of proposed rulemaking was published. As discussed above, the
OCC has 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.
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:
[[Page 81164]]
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. Section 25.12 is amended:
0
a. In paragraph (h)(2)(i), by removing ``part 203'' and adding ``part
1003'' in its place;
0
b. In paragraph (j)(2), by removing ``Sec. 226.2'' and adding ``Sec.
1026.2'' in its place;
0
c. In paragraph (l), by removing ``Sec. 203.2'' and adding ``Sec.
1003.2'' in its place; and
0
d. By revising paragraph Sec. 25.12(u)(1).
The revision reads 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 $1.216 billion. Intermediate small bank means a small bank
with assets of at least $304 million as of December 31 of both of the
prior two calendar years and less than $1.216 billion as of December 31
of either of the prior two calendar years.
* * * * *
Sec. 25.42 [Amended]
0
3. Section 25.42 is amended:
0
a. In paragraphs (b)(3) and (d), by removing ``part 203'' and adding
``part 1003'' in its place, wherever it appears; and
0
b. In paragraph (i), by removing ``, the Federal Deposit Insurance
Corporation, and the Office of Thrift Supervision,'' and adding ``and
the Federal Deposit Insurance Corporation,'' in its place, and by
removing ``parts 228, 345, or 563e'' and adding ``parts 195, 228, or
345'' in its place.
Sec. 25.43 [Amended]
0
4. Section 25.43 is amended in paragraph (b)(2) by removing ``part
203'' and adding ``part 1003'' in its place.
PART 195--COMMUNITY REINVESTMENT
0
5. 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
6. Section 195.12 is amended:
0
a. In paragraph (h)(2)(i), by removing ``part 203'' and adding ``part
1003'' in its place;
0
b. In paragraph (j)(2), by removing ``Sec. 226.2'' and adding ``Sec.
1026.2'' in its place;
0
c. In paragraph (l), by removing ``Sec. 203.2'' and adding ``Sec.
1003.2'' in its place; and
0
d. By revising paragraph (u)(1).
The revision is set forth below:
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 $1.216
billion. Intermediate small savings association means a small savings
association with assets of at least $304 million as of December 31 of
both of the prior two calendar years and less than $1.216 billion as of
December 31 of either of the prior two calendar years.
* * * * *
Sec. 195.42 [Amended]
0
7. Section 195.42 is amended in paragraphs (b)(3) and (d) by removing
``part 203'' and adding ``part 1003'' in its place, wherever it
appears.
Sec. 195.43 [Amended]
0
8. Section 195.43 is amended in paragraph (b)(2) by removing ``part
203'' and adding ``part 1003'' in its place.
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
9. 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
10. Section 228.12 is amended:
0
a. In paragraph (h)(2)(i), by removing ``part 203'' and adding ``part
1003'' in its place;
0
b. In paragraph (j)(2), by removing ``Sec. 226.2'' and adding ``Sec.
1026.2'' in its place;
0
c. In paragraph (l), by removing ``Sec. 203.2'' and adding ``Sec.
1003.2'' in its place; and
0
d. Revising paragraph (u)(1).
The revision reads 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 $1.216 billion. Intermediate small bank means a small bank
with assets of at least $304 million as of December 31 of both of the
prior two calendar years and less than $1.216 billion as of December 31
of either of the prior two calendar years.
* * * * *
Sec. 228.42 [Amended]
0
11. Section 228.42 is amended:
0
a. In paragraphs (b)(3) and (d), by removing ``part 203'' and adding
``part 1003'' in its place, wherever it appears; and
0
b. In paragraph (i), by removing ``, the Federal Deposit Insurance
Corporation, and the Office of Thrift Supervision,'' and adding ``and
the Federal Deposit Insurance Corporation,'' in its place, and by
removing ``parts 25, 345, or 563e'' and adding ``parts 25, 195, or
345'' in its place.
Sec. 228.43 [Amended]
0
12. Section 228.43 is amended in paragraph (b)(2), by removing ``part
203'' and adding ``part 1003'' in its place.
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
13. The authority citation for part 345 continues to read as follows:
Authority: 12 U.S.C. 1814-1817, 1819-1820, 1828, 1831u and
2901-2908, 3103-3104, and 3108(a).
0
14. Section 345.12 is amended:
0
a. In paragraph (h)(2)(i), by removing ``part 203'' and adding ``part
1003'' in its place;
0
b. In paragraph (j)(2), by removing ``Sec. 226.2'' and adding ``Sec.
1026.2'' in its place;
0
c. In paragraph (l), by removing ``Sec. 203.2'' and adding ``Sec.
1003.2'' in its place; and
0
d. Revising paragraph (u)(1).
The revision reads as follows:
Sec. 345.12 Definitions.
* * * * *
[[Page 81165]]
(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 $1.216 billion. Intermediate small bank means a small bank
with assets of at least $304 million as of December 31 of both of the
prior two calendar years and less than $1.216 billion as of December 31
of either of the prior two calendar years.
* * * * *
Sec. 345.42 [Amended]
0
15. Section 345.42 is amended:
0
a. In paragraphs (b)(3) and (d), by removing ``part 203'' and adding
``part 1003'' in its place, wherever it appears; and
0
b. In paragraph (i), by removing ``, the Office of the Comptroller of
the Currency, and the Office of Thrift Supervision,'' and adding ``and
the Office of the Comptroller of the Currency,'' in its place, and by
removing ``parts 25, 228, or 563e'' and adding ``parts 25, 195, or
228'' in its place.
Sec. 345.43 [Amended]
0
16. Section 345.43 is amended in paragraph (b)(2) by removing ``part
203'' and adding ``part 1003'' in its place.
Dated: December 16, 2015.
Amy S. Friend,
Senior Deputy Comptroller and 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 16, 2015.
Robert deV. Frierson,
Secretary of the Board.
By order of the Board of Directors.
Dated at Washington, DC, this 15th day of December, 2015.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2015-32670 Filed 12-28-15; 8:45 am]
BILLING CODE 4810-33-P; 6210-01-6714-01-P
