Expanded Examination Cycle for Certain Small Insured Depository Institutions and U.S. Branches and Agencies of Foreign Banks, 10063-10070 [2016-03877]
Download as PDF
<![CDATA[
Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Rules and Regulations
determines that the processing plant
should be considered a packer after
considering its capacity.
*
*
*
*
*
Dated: February 22, 2016.
Elanor Starmer,
Acting Administrator, Agricultural Marketing
Service.
[FR Doc. 2016–04047 Filed 2–26–16; 8:45 am]
BILLING CODE 3410–02–P
List of Subjects in 7 CFR Part 764
Agriculture, Disaster assistance, Loan
programs-agriculture, Agricultural
commodities, Livestock.
For reasons discussed above, FSA
amends 7 CFR part 764 as follows:
DEPARTMENT OF AGRICULTURE
Farm Service Agency
7 CFR Part 764
RIN 0560–AI33
PART 764—DIRECT LOAN MAKING
Direct Farm Ownership Microloan;
Correction
Farm Service Agency, USDA.
Correcting amendments.
In a final rule that was
published and effective on January 21,
2016, we added Direct Farm Ownership
Microloan (DFOML) to the existing
Direct Loan Program. The final rule
resulted in inadvertently omitting
paragraphs that were previously in the
Farm Loan Programs general eligibility
requirements. The inadvertently
removed paragraphs specified
alternatives for demonstrating
managerial ability. This document
corrects that omission by revising the
section in the regulations to reinsert that
text.
DATES: Effective date: February 29, 2016.
FOR FURTHER INFORMATION CONTACT: Russ
Clanton; telephone: (202) 690–0214.
Persons with disabilities or who require
alternative means for communication
should contact the USDA Target Center
at (202) 720–2600 (voice).
SUPPLEMENTARY INFORMATION:
asabaliauskas on DSK5VPTVN1PROD with RULES
SUMMARY:
Background
The Farm Service Agency (FSA)
published a final rule in the Federal
Register on January 21, 2016 (81 FR
3289–3293), adding DFOML to the
existing Direct Loan Program. The final
rule changes to 7 CFR part 764 resulted
in inadvertently omitting two
paragraphs that were previously in 7
CFR 764.101(i)(4), ‘‘General Eligibility
Requirements,’’ which specified
alternatives for demonstrating
managerial ability for microloans (MLs)
for Operating Loan (OL) purposes.
The only changes the final rule
intended to make in section 764.101
were to clarify that the references to
MLs in paragraphs (i)(3) and (4) were
only for MLs for OL purposes. In
VerDate Sep<11>2014
16:24 Feb 26, 2016
Jkt 238001
1. The authority citation for part 764
continues to read as follows:
■
AGENCY:
ACTION:
making the change to paragraph (i)(4),
we should have specified that the
change was only to the introductory text
of paragraph (i)(4) because the phrase
‘‘introductory text’’ was not specified, it
resulted in paragraphs (i)(4)(i) through
(ii) being inadvertently omitted from the
CFR when the changes were made as
specified in the final rule. Therefore,
this document corrects the regulation by
reinserting the previously published
text for paragraphs (i)(4)(i) through (ii).
Authority: 5 U.S.C. 301 and 7 U.S.C. 1989.
2. Add § 764.101(i)(4)(i) and (ii) to
read as follows:
■
§ 764.101
General eligibility requirements.
*
*
*
*
*
(i) * * *
(4) * * *
(i) Certification of a past participation
with an agriculture-related organization,
such as, but not limited to, 4–H Club,
FFA, beginning farmer and rancher
development programs, or Community
Based Organizations, that demonstrates
experience in a related agricultural
enterprise; or
(ii) A written description of a selfdirected apprenticeship combined with
either prior sufficient experience
working on a farm or significant small
business management experience. As a
condition of receiving the loan, the selfdirected apprenticeship requires that
the applicant seek, receive, and apply
guidance from a qualified person during
the first cycle of production and
marketing typical for the applicant’s
specific operation. The individual
providing the guidance must be
knowledgeable in production,
management, and marketing practices
that are pertinent to the applicant’s
operation, and agree to form a
developmental partnership with the
applicant to share knowledge, skills,
information, and perspective of
agriculture to foster the applicant’s
development of technical skills and
management ability.
*
*
*
*
*
Val Dolcini,
Administrator, Farm Service Agency.
[FR Doc. 2016–04271 Filed 2–26–16; 8:45 am]
BILLING CODE 3410–05–P
PO 00000
Frm 00007
Fmt 4700
Sfmt 4700
10063
DEPARTMENT OF TREASURY
Office of the Comptroller of the
Currency
12 CFR Part 4
[Docket ID OCC–2016–0001]
RIN 1557–AE01
FEDERAL RESERVE SYSTEM
12 CFR Parts 208 and 211
[Docket No. R–1531]
RIN 7100–AE45
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Parts 337, 347, and 390
RIN 3064–AE42
Expanded Examination Cycle for
Certain Small Insured Depository
Institutions and U.S. Branches and
Agencies of Foreign Banks
Office of the Comptroller of the
Currency (OCC), Treasury; Board of
Governors of the Federal Reserve
System (Board); and Federal Deposit
Insurance Corporation (FDIC).
ACTION: Joint interim final rules and
request for comments.
AGENCY:
The OCC, Board, and FDIC
(collectively, the agencies) are jointly
issuing and requesting public comment
on interim final rules to implement
section 83001 of the Fixing America’s
Surface Transportation Act (FAST Act),
which was enacted on December 4,
2015. Section 83001 of the FAST Act
permits the agencies to examine
qualifying insured depository
institutions with less than $1 billion in
total assets no less than once during
each 18-month period. Prior to
enactment of the FAST Act, only
qualifying insured depository
institutions with less than $500 million
in total assets were eligible for an 18month on-site examination cycle. The
interim final rules generally would
allow well capitalized and well
managed institutions with less than $1
billion in total assets to benefit from the
extended 18-month examination
schedule. In addition, the interim final
rules make parallel changes to the
agencies’ regulations governing the onsite examination cycle for U.S. branches
and agencies of foreign banks,
consistent with the International
Banking Act of 1978. Finally, the FDIC
is integrating its regulations regarding
the frequency of safety and soundness
examinations for State nonmember
banks and State savings associations.
SUMMARY:
E:\FR\FM\29FER1.SGM
29FER1
10064
Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Rules and Regulations
These interim final rules are
effective on February 29, 2016.
Comments on the rules must be received
by April 29, 2016.
ADDRESSES:
OCC: Commenters are encouraged to
submit comments by the Federal
eRulemaking Portal or email, if possible.
Please use the title ‘‘Expanded
Examination Cycle for Certain Small
Insured Depository Institutions and U.S.
Branches and Agencies of Foreign
Banks’’ to facilitate the organization and
distribution of the comments. You may
submit comments by any of the
following methods:
• Federal eRulemaking Portal—
‘‘regulations.gov’’: Go to https://
www.regulations.gov. Enter ‘‘Docket ID
OCC–2016–0001’’ in the Search Box and
click ‘‘Search.’’ Results can be filtered
using the filtering tools on the left side
of the screen. Click on ‘‘Comment Now’’
to submit public comments. Click on the
‘‘Help’’ tab on the Regulations.gov home
page to get information on using
Regulations.gov, including instructions
for submitting public comments.
• Email: regs.comments@
occ.treas.gov.
• Mail: Legislative and Regulatory
Activities Division, Office of the
Comptroller of the Currency, 400 7th
Street SW., Suite 3E–218, Mail Stop
9W–11, Washington, DC 20219.
• Hand Delivery/Courier: 400 7th
Street SW., Suite 3E–218, Mail Stop
9W–11, Washington, DC 20219.
• Fax: (571) 465–4326.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘Docket
ID OCC–2016–0001’’ in your comment.
In general, the OCC will enter all
comments received into the docket and
publish them on the Regulations.gov
Web site without change, including any
business or personal information that
you provide, such as name and address
information, email addresses, or phone
numbers. Comments received, including
attachments and other supporting
materials, are part of the public record
and subject to public disclosure. Do not
enclose any information in your
comment or supporting materials that
you consider confidential or
inappropriate for public disclosure.
You may review comments and other
related materials that pertain to this
rulemaking action by any of the
following methods:
• Viewing Comments Electronically:
Go to https://www.regulations.gov. Enter
‘‘Docket ID OCC–2016–0001’’ in the
Search box and click ‘‘Search.’’
Comments can be filtered by Agency
using the filtering tools on the left side
of the screen. Click on the ‘‘Help’’ tab
asabaliauskas on DSK5VPTVN1PROD with RULES
DATES:
VerDate Sep<11>2014
17:32 Feb 26, 2016
Jkt 238001
on the Regulations.gov home page to get
information on using Regulations.gov,
including instructions for viewing
public comments, viewing other
supporting and related materials, and
viewing the docket after the close of the
comment period.
• Viewing Comments Personally: You
may personally inspect and photocopy
comments at the OCC, 400 7th Street
SW., Washington, DC. For security
reasons, the OCC requires visitors to
make an appointment to inspect
comments. You may do so by calling
(202) 649–6700 or, for persons who are
deaf or hard of hearing, TTY, (202) 649–
5597. Upon arrival, visitors will be
required to present a valid governmentissued photo identification and to
submit to security screening in order to
inspect and photocopy comments.
• Docket: You may also view or
request available background
documents and project summaries using
the methods described above.
Board: You may submit comments,
identified by Docket No. R–1531, by any
of the following methods:
• Agency Web site: https://
www.federalreserve.gov. Follow the
instructions for submitting comments at
https://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm.
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• Email: regs.comments@
federalreserve.gov. Include docket
number in the subject line of the
message.
• FAX: (202) 452–3819 or (202) 452–
3102.
• Mail: Robert deV. Frierson,
Secretary, Board of Governors of the
Federal Reserve System, 20th Street and
Constitution Avenue NW., Washington,
DC 20551.
All public comments are available
from the Board’s Web site at https://
www.federalreserve.gov/generalinfo/
foia/ProposedRegs.cfm as submitted,
unless modified for technical reasons.
Accordingly, your comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed electronically or in
paper form in Room MP–500 of the
Board’s Martin Building (20th and C
Street NW.) between 9:00 a.m. and 5:00
p.m. on weekdays.
FDIC: You may submit comments by
any of the following methods:
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• Agency Web site: https://
www.FDIC.gov/regulations/laws/
federal/.
PO 00000
Frm 00008
Fmt 4700
Sfmt 4700
• Mail: Robert E. Feldman, Executive
Secretary, Attention: Comments/Legal
ESS, Federal Deposit Insurance
Corporation, 550 17th Street NW.,
Washington, DC 20429.
• Hand Delivered/Courier: The guard
station at the rear of the 550 17th Street
Building NW. (located on F Street), on
business days between 7:00 a.m. and
5:00 p.m.
• Email: comments@FDIC.gov.
Instructions: Comments submitted
must include ‘‘FDIC’’ and ‘‘RIN 3064–
AE42.’’ Comments received will be
posted without change to https://
www.FDIC.gov/regulations/laws/
federal/, including any personal
information provided.
FOR FURTHER INFORMATION CONTACT:
OCC: Deborah Katz, Assistant
Director, or Melissa J. Lisenbee,
Attorney, Legislative and Regulatory
Activities Division, (202) 649–5490;
Scott Schainost, Midsize and
Community Bank Supervision Liaison,
Midsize and Community Bank
Supervision, (202) 649–8173.
Board: Division of Banking
Supervision and Regulation—Richard
Naylor, Associate Director, (202) 728–
5854; Richard Watkins, Deputy
Associate Director, (202) 452–3421;
Virginia Gibbs, Manager, (202) 452–
2521; or Alexander Kobulsky,
Supervisory Financial Analyst, (202)
452–2031; and Legal Division—Laurie
Schaffer, Associate General Counsel,
(202) 452–2277; Brian Chernoff, Senior
Attorney, (202) 452–2952; or Mary
Watkins, Attorney, (202) 452–3722.
FDIC: Thomas F. Lyons, Chief, Policy
and Program Development, (202) 898–
6850, Karen J. Currie, Senior
Examination Specialist, (202) 898–3981,
Timothy R. Millette, Program Specialist,
Policy Branch Division of Risk
Management and Supervision; Mark A.
Mellon, Counsel, (202) 898–3884 for
revisions to 12 CFR part 337; Rodney D.
Ray, Counsel, (202) 898–3556 for
revisions to 12 CFR part 347; Suzanne
J. Dawley, Senior Attorney, (202) 898–
6509 for revisions to 12 CFR part 390.
SUPPLEMENTARY INFORMATION:
I. Background
Section 10(d) of the Federal Deposit
Insurance Act (FDI Act) generally
requires the appropriate Federal
banking agency for an insured
depository institution (IDI) to conduct a
full-scope, on-site examination of the
institution at least once during each 12month period.1 Prior to enactment of
1 12 U.S.C. 1820(d). Section 10(d) of the FDI Act
was added by section 111 of the Federal Deposit
Insurance Corporation Improvement Act of 1991.
E:\FR\FM\29FER1.SGM
29FER1
Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Rules and Regulations
section 83001 of the FAST Act,2 section
10(d)(4) of the FDI Act authorized the
appropriate Federal banking agency to
extend the on-site examination cycle for
an IDI to at least once during an 18month period if the IDI (1) had total
assets of less than $500 million; (2) was
well capitalized (as defined in 12
U.S.C.1831o (prompt corrective action));
(3) was found, at its most recent
examination, to be well managed 3 and
to have a composite condition of
‘‘outstanding’’ or, in the case of an
institution that has total assets of not
more than $100 million, ‘‘outstanding’’
or ‘‘good;’’ (4) was not subject to a
formal enforcement proceeding or order
by the FDIC or its appropriate Federal
banking agency; and (5) had not
undergone a change in control during
the previous 12-month period in which
a full-scope, on-site examination
otherwise would have been required.
Section 10(d)(10) of the FDI Act further
gave the agencies discretionary
authority to raise the size limit for
otherwise qualifying IDIs with an
‘‘outstanding’’ or ‘‘good’’ composite
rating from $100 million to an amount
not to exceed $500 million in total
assets if the agencies determined that
the higher limit would be consistent
with the principles of safety and
soundness.4
The Board and the FDIC, as the
appropriate Federal banking agencies
for State-chartered insured banks and
savings associations, are permitted to
conduct on-site examinations of such
IDIs on alternating 12-month or 18month periods with the institution’s
State supervisor, if the Board or FDIC,
as appropriate, determines that the
alternating examination conducted by
the State carries out the purposes of
section 10(d) of the FDI Act.5
In addition, section 7(c)(1)(C) of the
International Banking Act (IBA)
provides that a Federal or a State branch
or agency of a foreign bank shall be
subject to on-site examination by its
appropriate Federal banking agency or
2 Public
Law 114–94, 129 Stat. 1312 (2015).
institutions are evaluated under the
Uniform Financial Institutions Rating System
(commonly referred to as ‘‘CAMELS’’). CAMELS is
an acronym that is drawn from the first letters of
the individual components of the rating system:
Capital adequacy, Asset quality, Management,
Earnings, Liquidity, and Sensitivity to market risk.
CAMELS ratings of ‘‘1’’ and ‘‘2’’ correspond with
ratings of ‘‘outstanding’’ and ‘‘good.’’ In addition to
having a CAMELS composite rating of ‘‘1’’ or ‘‘2,’’
an IDI is considered to be ‘‘well managed’’ for the
purposes of section 10(d) of the FDI Act only if the
IDI also received a rating of ‘‘1’’ or ‘‘2’’ for the
management component of the CAMELS rating at
its most recent examination. See 72 FR 17798 (Apr.
10, 2007).
4 12 U.S.C. 1820(d)(10).
5 12 U.S.C. 1820(d)(3).
asabaliauskas on DSK5VPTVN1PROD with RULES
3 Depository
VerDate Sep<11>2014
16:24 Feb 26, 2016
Jkt 238001
State bank supervisor as frequently as a
national or State bank would be subject
to such an examination by the agency.6
The agencies previously adopted
regulations to implement the
examination cycle requirements of
section 10(d) of the FDI Act and section
7(c)(1)(C) of the IBA, including the
extended 18-month examination cycle
available to qualifying small institutions
and U.S. branches and agencies of
foreign banks.7 The agencies have also
exercised discretion under section
10(d)(10) of the FDI Act, first, in 1997
to extend the 18-month examination
cycle for otherwise qualifying
institutions with ‘‘good’’ composite
ratings 8 with total assets of $250
million or less, and again in 2007 for
such institutions with total assets of
$500 million or less.9
Section 83001 of the FAST Act,
effective on December 4, 2015, amended
section 10(d) of the FDI Act to raise,
from $500 million to $1 billion, the total
asset threshold below which an agency
may apply an 18-month (rather than a
12-month) on-site examination cycle for
IDIs with ‘‘outstanding’’ composite
ratings, and to raise, from not more than
$100 million to not more than $200
million, the total asset threshold below
which an agency may apply an 18month examination cycle to an
institution with an ‘‘outstanding’’ or
‘‘good’’ composite rating.10 Section
83001 also amended section 10(d)(10) of
the FDI Act to authorize the appropriate
Federal banking agency to increase, by
regulation, the maximum amount
limitation for IDIs with ‘‘outstanding’’ or
‘‘good’’ composite ratings from not more
than $200 million to not more than $1
billion if the appropriate Federal
banking agency determines that the
higher amount would be consistent with
the principles of safety and soundness
for IDIs.11
These FAST Act amendments reduce
regulatory burdens on small, well
capitalized, and well managed
institutions and allow the agencies to
better focus their supervisory resources
on those IDIs and U.S. branches and
agencies of foreign banks that may
6 12
U.S.C. 3105(c)(1)(C).
12 CFR 4.6 and 4.7 (OCC), 12 CFR 208.64
and 211.26 (Board), 12 CFR 337.12, 390.351 and
347.211 (FDIC).
8 Corresponding to a CAMELS or Risk
management, Operational controls, Compliance,
and Asset quality (ROCA) rating of ‘‘2.’’
9 See 62 FR 6449 (Feb. 12, 1997) (interim final
rule); see also 63 FR 16377 (Apr. 2, 1998) (final
rule); see also 72 FR 17798 (Apr. 10, 2007) (interim
final rule); see also 72 FR 54347 (Sept. 25, 2007)
(final rule).
10 Public Law 114–94, 129 Stat. 1312 (2015).
11 Id.
7 See
PO 00000
Frm 00009
Fmt 4700
Sfmt 4700
10065
present capital, managerial, or other
issues of supervisory concern.
II. Description of the Interim Final
Rules
The agencies are adopting interim
final rules to implement the FAST Act
amendments to section 10(d) of the FDI
Act. In particular, the agencies are
amending their respective rules to raise,
from $500 million to $1 billion, the total
asset threshold below which an
institution that meets the criteria in
section 10(d) and the agencies’ rules
may qualify for an 18-month, on-site
examination cycle. In addition, as
authorized by the FAST Act, the
agencies have determined that it is
consistent with the principles of safety
and soundness to permit institutions
with total assets of $200 million or
greater and not exceeding $1 billion that
receive a composite CAMELS or ROCA
rating of ‘‘1’’ or ‘‘2,’’ and that meet the
other qualifying criteria set forth in
section 10(d) and the agencies’ rules to
qualify for an 18-month examination
cycle. The FDIC analyzed the frequency
with which institutions rated a
composite CAMELS rating of ‘‘1’’ or ‘‘2’’
failed within five years, versus the
frequency with which institutions rated
a composite CAMELS rating of ‘‘3,’’ ‘‘4,’’
or ‘‘5’’ failed within five years. FDIC
analysis indicates that between 1985
and 2010 (using bank failure data
through 2015),12 FDIC-insured
depository institutions with assets less
than $1 billion and a composite
CAMELS rating of ‘‘1’’ or ‘‘2’’ had a fiveyear failure rate that was one-seventh as
high as institutions with a CAMELS
rating of ‘‘3,’’ ‘‘4,’’ or ‘‘5.’’ Moreover, the
relationship between failure rates in the
two ratings groups does not
meaningfully change when the analysis
is restricted to institutions with assets
between $200 million and $500 million
compared to institutions with assets
between $500 million to $1 billion. This
analysis suggests that extending the
examination cycle for well-rated
institutions with $500 million to $1
billion in assets by an additional six
months, combined with the agencies’
off-site monitoring activities and ability
to examine an institution more
frequently as necessary or appropriate,
will not negatively affect the safe and
sound operations of qualifying
institutions or the ability of the agencies
to effectively supervise and protect the
safety and soundness of institutions
with total assets of less than $1
12 A list of failed institutions can be found on the
FDIC’s Web site at https://www.fdic.gov/bank/
individual/failed/banklist.html.
E:\FR\FM\29FER1.SGM
29FER1
10066
Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Rules and Regulations
billion.13 Furthermore, the agencies
note that, in order to qualify for an 18month examination cycle, any
institution with total assets of less than
$1 billion—including one with a
CAMELS composite rating of ‘‘2’’—must
meet the other capital, managerial, and
supervisory criteria set forth in section
10(d).
Consistent with section 7(c)(1)(C) of
the IBA, the agencies also are making
conforming changes to their regulations
governing the on-site examination cycle
for the U.S. branches and agencies of
foreign banks. The interim final rules
permit a U.S. branch or agency of a
foreign bank with total assets of less
than $1 billion to qualify for an 18month examination cycle if the U.S.
branch or agency of a foreign bank
received a composite ROCA rating of
‘‘1’’ or ‘‘2’’ at its most recent
examination and meets the other
applicable criteria.
The agencies estimate that the interim
final rules will increase the number of
institutions that may qualify for an
extended 18-month examination cycle
by approximately 617 institutions (371
of which are supervised by the FDIC,
142 by the OCC, and 104 by the Board),
bringing the total number to 4,987
IDIs.14 Approximately 89 U.S. branches
and agencies of foreign banks would be
eligible for the extended examination
cycle based on the interim final rules,
an increase of 26 (1 of which is
supervised by the FDIC, 3 by the OCC,
and 22 by the Board).15
asabaliauskas on DSK5VPTVN1PROD with RULES
Consistent Treatment for Insured State
Savings Associations Regarding
Examination Frequency
The Dodd-Frank Wall Street Reform
and Consumer Protection Act (DoddFrank Act) provided for a substantial
reorganization of the regulation of State
and Federal savings associations and
their holding companies.16 Beginning
July 21, 2011, the powers, duties, and
functions formerly performed by the
Office of Thrift Supervision (OTS) were
transferred to the FDIC, as to State
savings associations, the OCC, as to
Federal savings associations, and the
Board, as to savings and loan holding
companies. Section 316(b) of the DoddFrank Act 17 provides the manner of
treatment for all orders, resolutions,
13 The agencies continue to reserve the right in
their regulations to examine an IDI or U.S. branch
or agency of a foreign bank more frequently than
is required by the FDI Act or IBA. See 12 CFR 4.6(c)
and 4.7(c) (OCC), 12 CFR 208.64(c) and 211.26(c)(3)
(Board), 12 CFR 337.12(c), 390.351(c), and
347.211(c) (FDIC).
14 Call report data, Sept. 30, 2015.
15 Id.
16 12 U.S.C. 5301, et seq.
17 12 U.S.C. 5414(c).
VerDate Sep<11>2014
16:24 Feb 26, 2016
Jkt 238001
determinations, regulations, and
advisory materials that had been issued,
made, prescribed, or allowed to become
effective by the OTS. Section 316(b)
provides that if such materials were in
effect on the day before the transfer
date, they continue in effect and are
enforceable by or against the
appropriate successor agency until they
are modified, terminated, set aside, or
superseded in accordance with
applicable law by such successor
agency, by any court of competent
jurisdiction, or by operation of law.
Section 316(c) of the Dodd-Frank Act
further directed the FDIC and the OCC
to consult with one another and to
publish a list of the continued OTS
regulations that will be enforced by the
FDIC and the OCC, respectively. On
June 14, 2011, the FDIC’s Board of
Directors approved a ‘‘List of OTS
Regulations to be Enforced by the OCC
and the FDIC Pursuant to the DoddFrank Wall Street Reform and Consumer
Protection Act.’’ This list was published
by the FDIC and the OCC as a Joint
Notice in the Federal Register on July
6, 2011.18
Although section 312(b)(2)(B)(i)(II) of
the Dodd-Frank Act 19 granted the OCC
rulemaking authority relating to both
State and Federal savings associations,
nothing in the Dodd-Frank Act affected
the FDIC’s existing authority to issue
regulations for State savings
associations under the FDI Act and
other laws as the ‘‘appropriate Federal
banking agency’’ or under similar
statutory terminology. Section 312(c) of
the Dodd-Frank Act 20 amended the
definition of ‘‘appropriate Federal
banking agency’’ contained in section
3(q) of the FDI Act 21 to add State
savings associations to the list of entities
for which the FDIC is designated as the
‘‘appropriate Federal banking agency.’’
As a result, when the FDIC acts as the
designated ‘‘appropriate Federal
banking agency’’ (or under similar
terminology) for State savings
associations, as it does here, the FDIC is
authorized to issue, modify, and rescind
regulations involving such associations.
As noted, on June 14, 2011, operating
pursuant to this authority, the FDIC’s
Board of Directors reissued and redesignated certain transferring
regulations of the former OTS. These
transferred OTS regulations were
published as new FDIC regulations in
the Federal Register on August 5,
2011.22 When the FDIC republished the
18 76
FR 39247 (July 6, 2011).
19 12 U.S.C. 5412(b)(2)(B)(i)(II).
20 12 U.S.C. 5412(c).
21 12 U.S.C. 1813(q).
22 76 FR 47652 (Aug. 5, 2011).
PO 00000
Frm 00010
Fmt 4700
Sfmt 4700
transferred OTS regulations as new
FDIC regulations, the FDIC specifically
noted that its staff would evaluate the
transferred OTS rules and might later
recommend incorporating the
transferred OTS regulations into other
FDIC rules, amending them, or
rescinding them, as appropriate.
Twelve CFR 390.351 implements the
FDIC’s examination requirements for
savings associations under the authority
of section 4(a) of the Home Owners’
Loan Act (HOLA),23 which provides that
the FDIC will examine State savings
associations for safety and soundness
and under section 10(d) of the FDI Act,
which covers examinations of all IDIs.24
Section 390.351 requires full-scope,
on-site examinations of State savings
associations at least once each 12-month
period and once each 18-month period
for a State savings association with total
assets of no more than $500 million that
is well capitalized; was assigned a
CAMELS ‘‘1’’ or ‘‘2’’ for management
and was rated either a CAMELS
composite ‘‘1’’ or ‘‘2’’ on its most recent
examination; is not currently under a
formal enforcement proceeding or order
by the FDIC; and has not undergone a
change in control during the preceding
12-month period.
Section 390.351 is substantively
identical to section 337.12 and,
therefore, redundant to section 337.12.
This interim final rule rescinds and
removes section 390.351. The
amendment to section 337.12 in the
interim final rule also reflects the
authority of the FDIC under section 4(a)
of HOLA to provide for the examination
and safe and sound operation of State
savings associations. With this
amendment, all FDIC-supervised
institutions, including State savings
associations, will be subject to the
requirements of 12 CFR 337.12.
Effective Date/Request for Comment
The agencies are issuing the interim
final rules without prior notice and the
opportunity for public comment and the
30-day delayed effective date ordinarily
prescribed by the Administrative
Procedure Act (APA).25 Pursuant to
section 553(b)(B) of the APA, general
notice and the opportunity for public
comment are not required with respect
to a rulemaking when an ‘‘agency for
good cause finds (and incorporates the
finding and a brief statement of reasons
therefor in the rules issued) that notice
and public procedure thereon are
23 12
U.S.C. 1463.
section was redesignated from the former
OTS regulation at section 563.171 pursuant to the
Dodd-Frank Act transfer of authority for State
savings associations.
25 5 U.S.C. 553.
24 This
E:\FR\FM\29FER1.SGM
29FER1
Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Rules and Regulations
impracticable, unnecessary, or contrary
to the public interest.’’ 26 The interim
final rules implement the provisions of
section 83001 of the FAST Act, which
became effective on December 4, 2015.
The interim final rules adopt without
change the statutory increase in the total
asset ceiling for the 18-month
examination cycle for CAMELS and
ROCA 1-rated institutions and also
make available, pursuant to the
statutory authority, the 18-month
examination cycle for CAMELS and
ROCA 2-rated institutions. Consistent
with the underlying statute, the interim
final rules would allow well capitalized
and well managed institutions with
under $1 billion in total assets to benefit
from the statutorily extended 18-month
examination schedule.
The agencies believe that the public
interest is best served by implementing
the statutorily amended thresholds as
soon as possible. Immediate
implementation would reduce
regulatory burdens on small, well
capitalized, and well managed
institutions, while also allowing the
agencies to better focus their
supervisory resources on those
institutions that may present capital,
managerial, or other issues of
supervisory concern. Because the
affected institutions and agencies must
plan and prepare for examinations in
advance, the agencies believe issuing
interim final rules would provide the
certainty necessary to allow the
institutions and agencies to begin
scheduling according to the new
examination cycle period. In addition,
the agencies believe that providing a
notice and comment period prior to
issuance of the interim final rules is
unnecessary because the agencies do not
expect public objection to the
regulations being promulgated, as these
rules implement the changes specified
by Congress.27 Moreover, because the
interim final rules would permit an
agency to conduct an on-site
examination of an institution more
frequently than once every 18 months,
the agencies retain the ability to
maintain the current—or a more
frequent—on-site examination schedule
for an institution, if the relevant agency
asabaliauskas on DSK5VPTVN1PROD with RULES
26 5
U.S.C. 553(b)(B).
eleven commenters supported the agencies’
2007 interim final rules implementing section 605
of the Financial Services Regulatory Relief Act of
2006 (FSRRA), which revised section 10(d) to allow
institutions with up to $500 million in total assets
to qualify for an 18-month on-site examination
cycle. Prior to the enactment of FSRRA, only
institutions with less than $250 million were
eligible for an 18-month on-site examination cycle.
See 72 FR 54347 (final rule); see also 72 FR 17798
(interim rule).
27 All
VerDate Sep<11>2014
16:24 Feb 26, 2016
Jkt 238001
determines it would be necessary or
appropriate.
Similarly, the FDIC believes there is
good cause to rescind and remove
section 390.351 because section 337.12
will be made immediately applicable to
both insured State savings associations
and insured State nonmember banks. As
a result, insured State savings
associations will be provided the same
burden reduction benefits and
appropriate supervisory focus afforded
to insured State nonmember banks. For
these reasons, the agencies find there is
good cause consistent with the public
interest to issue the rules without
advance notice and comment.28
The APA also requires a 30-day
delayed effective date, except for (1)
substantive rules which grant or
recognize an exemption or relieve a
restriction; (2) interpretative rules and
statements of policy; or (3) as otherwise
provided by the agency for good
cause.29 The agencies conclude that,
because the rules recognize an
exemption, the interim final rules are
exempt from the APA’s delayed
effective date requirement.30
Additionally, the agencies find good
cause to publish the interim final rules
with an immediate effective date for the
same reasons set forth above under the
discussion of section 553(b)(B) of the
APA.
Pursuant to section 302(a) of the
Riegle Community Development and
Regulatory Improvement Act
(RCDRIA),31 in determining the effective
date and administrative compliance
requirements for a new regulation that
imposes additional reporting,
disclosure, or other requirements on
IDIs, each Federal banking agency must
consider any administrative burdens
that such regulation would place on
depository institutions and the benefits
of such regulation. In addition, section
302(b) of the RCDRIA requires such new
regulation to take effect on the first day
of a calendar quarter that begins on or
after the date on which the regulations
are published in final form, with certain
exceptions, including for good cause.
Because the interim final rules expand
eligibility for an 18-month, rather than
12-month on-site examination schedule
and are burden-reducing in nature, the
interim final rules do not impose
additional reporting, disclosure, or other
requirements on IDIs, and section 302 of
the RCDRIA therefore does not apply.
Nevertheless, the agencies have
considered the administrative burdens
28 5
U.S.C. 553(b)(B); 553(d)(3).
U.S.C. 553(d).
30 5 U.S.C. 553(d)(1).
31 12 U.S.C. 4802(a).
29 5
PO 00000
Frm 00011
Fmt 4700
Sfmt 4700
10067
that such regulations would place on
depository institutions and the benefits
of such regulations in determining the
effective date and compliance
requirements. In addition, for the same
reasons set forth above under the
discussion of section 553(b)(B) of the
APA, the agencies find good cause
would exist under section 302 of
RCDRIA to publish these interim final
rules with an immediate effective date.
While the agencies believe there is
good cause to issue the rules without
advance notice and comment and with
an immediate effective date, the
agencies are interested in the views of
the public and request comment on all
aspects of the interim final rules.
III. Solicitation of Comments on Use of
Plain Language
Section 722 of the Gramm-LeachBliley Act 32 requires the Federal
banking agencies to use plain language
in all proposed and final rules
published after January 1, 2000. The
Federal banking agencies invite your
comments on how to make these interim
final rules easier to understand. For
example:
• Have the agencies organized the
material to suit your needs? If not, how
could this material be better organized?
• Are the requirements in the interim
final rules clearly stated? If not, how
could the interim final rules be more
clearly stated?
• Do the interim final rules contain
language or jargon that is not clear? If
so, which language requires
clarification?
• Would a different format (grouping
and order of sections, use of headings,
paragraphing) make the interim final
rules easier to understand? If so, what
changes to the format would make the
interim final rules easier to understand?
• What else could the agencies do to
make the regulation easier to
understand?
IV. Regulatory Flexibility Act
The Regulatory Flexibility Act
(RFA) 33 applies only to rules for which
an agency publishes a general notice of
proposed rulemaking pursuant to 5
U.S.C. 553(b). As discussed above,
consistent with section 553(b)(B) of the
APA, the agencies have determined for
good cause that general notice and
opportunity for public comment is not
necessary. Accordingly, the RFA’s
requirements relating to initial and final
regulatory flexibility analysis do not
32 Pub. L. 106–102, section 722, 113 Stat. 1338,
1471 (1999).
33 Pub. L. 96–354, Sept. 19, 1980, codified to 5
U.S.C. 601 et seq.
E:\FR\FM\29FER1.SGM
29FER1
10068
Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Rules and Regulations
apply. Nonetheless, the agencies
observe that the extension of the
periodic examination cycle for certain
small institutions from 12 to 18 months
should not have a significant adverse
economic impact on a substantial
number of small entities, and, in fact,
should reduce regulatory burdens on
these entities. The agencies request
comment on these conclusions.
V. Paperwork Reduction Act
The Paperwork Reduction Act of
1995 34 states that no agency may
conduct or sponsor, nor is the
respondent required to respond to, an
information collection unless it displays
a currently valid Office of Management
and Budget (OMB) control number.
Because the interim final rules do not
create a new, or revise an existing,
collection of information, no
information collection request
submission needs to be made to the
OMB.
VI. The Economic Growth and
Regulatory Paperwork Reduction Act
Under section 2222 of the Economic
Growth and Regulatory Paperwork
Reduction Act of 1996 (EGRPRA),35 the
agencies are required to conduct a
review at least once every 10 years to
identify any outdated or otherwise
unnecessary regulations. The agencies
completed the last comprehensive
review of their regulations under
EGRPRA in 2006 and are currently
conducting the next decennial review.
The burden reduction evidenced in
these interim final rules is consistent
with the objectives of the EGRPRA
review process.
VII. OCC Unfunded Mandates Reform
Act of 1995 Determination
Consistent with section 202 of the
Unfunded Mandates Reform Act of
1995, before promulgating any final rule
for which a general notice of proposed
rulemaking was published, the OCC
prepares an economic analysis of the
final rule. As discussed above, the OCC
has determined that the publication of
a general notice of proposed rulemaking
was unnecessary. Accordingly, the OCC
has not prepared an economic analysis
of the joint interim final rules.
asabaliauskas on DSK5VPTVN1PROD with RULES
Administrative practice and
procedure, Freedom of information,
Individuals with disabilities, Minority
businesses, Organization and functions
U.S.C. 3501–3521.
L. 104–208, 110 Stat. 3009 (1996).
35 Pub.
16:24 Feb 26, 2016
12 CFR Part 208
■
Accounting, Agriculture, Banks,
banking, Confidential business
information, Crime, Currency, Federal
Reserve System, Flood insurance,
Mortgages, Reporting and recordkeeping
requirements, Safety and soundness,
Securities.
12 CFR Part 211
Exports, Federal Reserve System,
Foreign banking, Holding companies,
Investments, Reporting and
recordkeeping requirements.
12 CFR Part 337
Banks, banking, Reporting and
recordkeeping requirements, Savings
associations.
12 CFR Part 347
Authority delegations (Government
agencies), Bank deposit insurance,
Banks, banking, Credit, Foreign banking,
Reporting and recordkeeping
requirements, United States investments
abroad.
12 CFR Part 390
Administrative practice and
procedure, Advertising, Aged, Civil
rights, Conflict of interests, Credit,
Crime, Equal employment opportunity,
Fair housing, Government employees,
Individuals with disabilities, Reporting
and recordkeeping requirements,
Savings associations.
Office of the Comptroller of the
Currency
12 CFR Chapter I
Authority and Issuance
For the reasons set forth in the joint
preamble, the OCC amends part 4 of
chapter I of title 12 of the Code of
Federal Regulations as follows:
PART 4—ORGANIZATION AND
FUNCTIONS, AVAILABILITY AND
RELEASE OF INFORMATION,
CONTRACTING OUTREACH
PROGRAM, POST-EMPLOYMENT
RESTRICTIONS FOR SENIOR
EXAMINERS
1. The authority citation for part 4 is
revised to read as follows:
12 CFR Part 4
VerDate Sep<11>2014
3506, 3510; E.O. 12600 (3 CFR, 1987 Comp.,
p. 235).
■
List of Subjects
34 44
(Government agencies), Reporting and
recordkeeping requirements, Women.
Jkt 238001
Authority: 5 U.S.C. 301, 552; 12 U.S.C. 1,
93a, 161, 481, 482, 484(a), 1442, 1462a, 1463,
1464 1817(a), 1818, 1820, 1821, 1831m,
1831p–1, 1831o, 1833e, 1867, 1951 et seq.,
2601 et seq., 2801 et seq., 2901 et seq., 3101
et seq., 3401 et seq., 5321, 5412, 5414; 15
U.S.C. 77uu(b), 78q(c)(3); 18 U.S.C. 641,
1905, 1906; 29 U.S.C. 1204; 31 U.S.C.
5318(g)(2), 9701; 42 U.S.C. 3601; 44 U.S.C.
PO 00000
Frm 00012
Fmt 4700
Sfmt 4700
2. Section 4.6 is revised to read as
follows:
§ 4.6 Frequency of examination of national
banks and Federal savings associations.
(a) General. The OCC examines
national banks and Federal savings
associations pursuant to authority
conferred by 12 U.S.C. 481 (with respect
to national banks) and 1463(a)(1) and
1464 (with respect to Federal savings
associations) and the requirements of 12
U.S.C. 1820(d) (with respect to national
banks and Federal savings associations).
The OCC is required to conduct a fullscope, on-site examination of every
national bank and Federal savings
association at least once during each 12month period.
(b) 18-month rule for certain small
institutions. The OCC may conduct a
full-scope, on-site examination of a
national bank or a Federal savings
association at least once during each 18month period, rather than each 12month period as provided in paragraph
(a) of this section, if the following
conditions are satisfied:
(1) The bank or Federal savings
association has total assets of less than
$1 billion;
(2) The bank or Federal savings
association is well capitalized as
defined in part 6 of this chapter;
(3) At the most recent examination;
(i) The bank or Federal savings
association was assigned a rating of 1 or
2 for management as part of the bank’s
or association’s rating under the
Uniform Financial Institutions Rating
System; and
(ii) The bank or Federal savings
association was assigned a composite
rating of 1 or 2 under the Uniform
Financial Institutions Rating System;
(4) The bank or Federal savings
association currently is not subject to a
formal enforcement proceeding or order
by the FDIC, OCC, OTS or the Federal
Reserve System; and
(5) No person acquired control of the
bank or Federal savings association
during the preceding 12-month period
in which a full-scope, on-site
examination would have been required
but for this section.
(c) Authority to conduct more
frequent examinations. This section
does not limit the authority of the OCC
to examine any national bank or Federal
savings association as frequently as the
agency deems necessary.
3. Section 4.7 is revised to read as
follows:
■
E:\FR\FM\29FER1.SGM
29FER1
Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Rules and Regulations
asabaliauskas on DSK5VPTVN1PROD with RULES
§ 4.7 Frequency of examination of Federal
agencies and branches.
(a) General. The OCC examines
Federal agencies and Federal branches
(as these entities are defined in § 28.11
(g) and (h), respectively, of this chapter)
pursuant to the authority conferred by
12 U.S.C. 3105(c)(1)(C). Except as noted
in paragraph (b) of this section, the OCC
will conduct a full-scope, on-site
examination of every Federal branch
and agency at least once during each 12month period.
(b) 18-month rule for certain small
institutions—(1) Mandatory standards.
The OCC may conduct a full-scope, onsite examination at least once during
each 18-month period, rather than each
12-month period as provided in
paragraph (a) of this section, if the
Federal branch or agency:
(i) Has total assets of less than $1
billion;
(ii) Has received a composite ROCA
supervisory rating (which rates risk
management, operational controls,
compliance, and asset quality) of 1 or 2
at its most recent examination;
(iii) Satisfies the requirements of
either paragraph (b)(1)(iii)(A) or (B) of
this section:
(A) The foreign bank’s most recently
reported capital adequacy position
consists of, or is equivalent to, common
equity tier 1, tier 1 and total risk-based
capital ratios that satisfy the definition
of ‘‘well capitalized’’ set forth at 12 CFR
6.4, respectively, on a consolidated
basis; or
(B) The branch or agency has
maintained on a daily basis, over the
past three quarters, eligible assets in an
amount not less than 108 percent of the
preceding quarter’s average third party
liabilities (determined consistent with
applicable federal and state law), and
sufficient liquidity is currently available
to meet its obligations to third parties;
(iv) Is not subject to a formal
enforcement action or order by the
Federal Reserve Board, the Federal
Deposit Insurance Corporation, or the
OCC; and
(v) Has not experienced a change in
control during the preceding 12-month
period in which a full-scope, on-site
examination would have been required
but for this section.
(2) Discretionary standards. In
determining whether a Federal branch
or agency that meets the standards of
paragraph (b)(1) of this section should
not be eligible for an 18-month
examination cycle pursuant to this
paragraph (b), the OCC may consider
additional factors, including whether:
(i) Any of the individual components
of the ROCA rating of the Federal
branch or agency is rated ‘‘3’’ or worse;
VerDate Sep<11>2014
16:24 Feb 26, 2016
Jkt 238001
(ii) The results of any off-site
supervision indicate a deterioration in
the condition of the Federal branch or
agency;
(iii) The size, relative importance, and
role of a particular office when reviewed
in the context of the foreign bank’s
entire U.S. operations otherwise
necessitate an annual examination; and
(iv) The condition of the foreign bank
gives rise to such a need.
(c) Authority to conduct more
frequent examinations. Nothing in
paragraph (a) or (b) of this section limits
the authority of the OCC to examine any
Federal branch or agency as frequently
as the OCC deems necessary.
Federal Reserve System
12 CFR Chapter II
PART 208—MEMBERSHIP OF STATE
BANKING INSTITUTIONS IN THE
FEDERAL RESERVE SYSTEM
(REGULATION H)
4. The authority citation for part 208
continues to read as follows:
■
Authority: 12 U.S.C. 24, 36, 92a, 93a,
248(a), 248(c), 321–338a, 371d, 461, 481–486,
601, 611, 1814, 1816, 1818, 1820(d)(9),
1833(j), 1828(o), 1831, 1831o, 1831p–1,
1831r–1, 1831w, 1831x, 1835a, 1882, 2901–
2907, 3105, 3310, 3331–3351, 3353, and
3906–3909; 15 U.S.C. 78b, 781(b), 78l(i), 780–
4(c)(5), 78q, 78q–1, 78w, 1681s, 1681w, 6801
and 6805, 31 U.S.C. 5318; 42 U.S.C. 4012a,
4104b, 4106, and 4128.
5. Amend § 208.64 by revising
paragraph (b)(1) to read as follows:
■
Frequency of examination.
*
*
*
*
*
(b) * * *
(1) The bank has total assets of less
than $1 billion;
*
*
*
*
*
PART 211—INTERNATIONAL
BANKING OPERATIONS
(REGULATION K)
6. The authority citation for part 211
continues to read as follows:
■
Authority: 12 U.S.C. 221 et seq., 1818,
1835a, 1841 et seq., 3101 et seq., 3901 et seq.,
and 5101 et seq.; 15 U.S.C. 1681s, 1681w,
6801 and 6805.
7. Amend § 211.26 by revising
paragraph (c)(2)(i)(A) to read as follows:
■
§ 211.26 Examinations of offices and
affiliates of foreign banks.
*
PO 00000
*
*
Frm 00013
(c) * * *
(2) * * *
(i) * * *
(A) Has total assets of less than $1
billion;
*
*
*
*
*
Federal Deposit Insurance Corporation
12 CFR Chapter III
Authority and Issuance
For the reasons set forth in the joint
preamble, the Board of Directors of the
FDIC amends parts 337, 347, and 390 of
chapter III of title 12 of the Code of
Federal Regulations as follows:
PART 337—UNSAFE AND UNSOUND
BANK PRACTICES
8. The authority citation for part 337
is revised to read as follows:
■
Authority and Issuance
For the reasons set forth in the joint
preamble, the Board amends parts 208
and 211 of chapter II of title 12 of the
Code of Federal Regulations as follows:
§ 208.64
10069
*
Fmt 4700
*
Sfmt 4700
Authority: 12 U.S.C. 375a(4), 375b,
1463(a)(1), 1816, 1818(a), 1818(b), 1819,
1820(d), 1828(j)(2), 1831, 1831f, 5412.
9. Section 337.12 is revised to read as
follows:
■
§ 337.12
Frequency of examination.
(a) General. The Federal Deposit
Insurance Corporation examines insured
state nonmember banks pursuant to
authority conferred by section 10 of the
Federal Deposit Insurance Act (12
U.S.C. 1820) and examines insured State
savings associations pursuant to
authority conferred by section 10 of the
Federal Deposit Insurance Act (12
U.S.C. 1820) and section 4 of the Home
Owners’ Loan Act (12 U.S.C. 1463). The
FDIC is required to conduct a full-scope,
on-site examination of every insured
state nonmember bank and insured
State savings association at least once
during each 12-month period.
(b) 18-month rule for certain small
institutions. The FDIC may conduct a
full-scope, on-site examination of an
insured state nonmember bank or
insured State savings association at least
once during each 18-month period,
rather than each 12-month period as
provided in paragraph (a) of this
section, if the following conditions are
satisfied:
(1) The institution has total assets of
less than $1 billion;
(2) The institution is well capitalized
as defined in § 324.403(b)(1) of this
chapter;
(3) At the most recent FDIC or
applicable State agency examination,
the FDIC:
(i) Assigned the institution a rating of
1 or 2 for management as part of the
institution’s composite rating under the
Uniform Financial Institutions Rating
System (commonly referred to as
CAMELS); and
E:\FR\FM\29FER1.SGM
29FER1
10070
Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Rules and Regulations
(ii) Assigned the institution a
composite rating of 1 or 2 under the
Uniform Financial Institutions Rating
System (copies of which are available at
the addresses specified in § 309.4 of this
chapter);
(4) The institution currently is not
subject to a formal enforcement
proceeding or order by the FDIC, OCC,
or the Board of Governors of the Federal
Reserve System; and
(5) No person acquired control of the
institution during the preceding 12month period in which a full-scope, onsite examination would have been
required but for this section.
(c) Authority to conduct more
frequent examinations. This section
does not limit the authority of the FDIC
to examine any insured state
nonmember bank or insured State
savings association as frequently as the
agency deems necessary.
Dated: January 21, 2016.
Thomas J. Curry,
Comptroller of the Currency.
Board of Governors of the Federal Reserve
System, February 10, 2016.
Robert deV. Frierson,
Secretary of the Board.
Dated: January 21, 2016.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016–03877 Filed 2–26–16; 8:45 am]
BILLING CODE 6714–01–P; 4810–33–P; 6210–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 39
[Docket No. FAA–2015–3633; Directorate
Identifier 2014–NM–097–AD; Amendment
39–18416; AD 2016–04–22]
RIN 2120–AA64
PART 347—INTERNATIONAL
BANKING
Airworthiness Directives; Fokker
Services B.V. Airplanes
10. The authority citation for part 347
is revised to read as follows:
■
Authority: 12 U.S.C. 1813, 1815, 1817,
1819, 1820(d), 1828, 3103, 3104, 3105, 3108,
3109; Title IX, Publ. L. 98–181, 97 Stat. 1153
(12 U.S.C. 3901 et seq.).
11. Amend § 347.211 by revising
paragraph (b)(1)(i) to read as follows:
■
§ 347.211 Examination of branches of
foreign banks.
*
*
*
*
*
(b) * * *
(1) * * *
(i) Has total assets of less than $1
billion;
*
*
*
*
*
PART 390—REGULATIONS
TRANSFERRED FROM THE OFFICE OF
THRIFT SUPERVISION
12. The authority citation for part 390
continues to read in part as follows:
■
Authority: 12 U.S.C. 1819.
asabaliauskas on DSK5VPTVN1PROD with RULES
*
*
*
*
*
Subpart S also issued under 12 U.S.C.
1462; 1462a; 1463; 1464; 1468a; 1817; 1820;
1828; 1831e; 1831o; 1831p–1; 1881–1884;
3207; 3339; 15 U.S.C. 78b, 78l; 78m; 78n;
78p; 78q; 78w; 31 U.S.C. 5318; 42 U.S.C.
4106.
*
*
§ 390.351
■
*
*
*
[Removed]
13. Remove § 390.351.
VerDate Sep<11>2014
16:24 Feb 26, 2016
Jkt 238001
Federal Aviation
Administration (FAA), Department of
Transportation (DOT).
ACTION: Final rule.
AGENCY:
We are adopting a new
airworthiness directive (AD) for all
Fokker Services B.V. Model F.27 Mark
200, 300, 400, 500, 600, and 700
airplanes. This AD was prompted by a
design review conducted by Fokker
Services B.V. that indicated no
controlled bonding provisions were
present on many critical locations
outside the fuel tank or connected to the
fuel tank wall. This AD requires
installing the additional bonding
provisions, and revising the
maintenance or inspection program, as
applicable, by incorporating fuel
airworthiness limitation items and
critical design configuration control
limitations. We are issuing this AD to
prevent an ignition source in the fuel
tank vapor space, which could result in
a fuel tank explosion and consequent
loss of the airplane.
DATES: This AD becomes effective April
4, 2016.
The Director of the Federal Register
approved the incorporation by reference
of certain publications listed in this AD
as of April 4, 2016.
ADDRESSES: For service information
identified in this final rule, contact
Fokker Services B.V., Technical
Services Dept., P.O. Box 1357, 2130 EL
Hoofddorp, the Netherlands; telephone
+31 (0)88–6280–350; fax +31 (0)88–
SUMMARY:
PO 00000
Frm 00014
Fmt 4700
Sfmt 4700
6280–111; email technicalservices@
fokker.com; Internet https://
www.myfokkerfleet.com. You may view
this referenced service information at
the FAA, Transport Airplane
Directorate, 1601 Lind Avenue SW.,
Renton, WA. For information on the
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–
3633.
Examining the AD Docket
You may examine the AD docket on
the Internet at https://
www.regulations.gov by searching for
and locating Docket No. FAA–2015–
3633; or in person at the Docket
Management Facility between 9 a.m.
and 5 p.m., Monday through Friday,
except Federal holidays. The AD docket
contains this AD, the regulatory
evaluation, any comments received, and
other information. The street address for
the Docket Operations office (telephone
800–647–5527) is in the ADDRESSES
section.
Tom
Rodriguez, Aerospace Engineer,
International Branch, ANM–116,
Transport Airplane Directorate, FAA,
1601 Lind Avenue SW., Renton, WA
98057–3356; telephone 425–227–1137;
fax 425–227–1149.
SUPPLEMENTARY INFORMATION:
FOR FURTHER INFORMATION CONTACT:
Discussion
We issued a notice of proposed
rulemaking (NPRM) to amend 14 CFR
part 39 by adding an AD that would
apply to all Fokker Services B.V. Model
F.27 Mark 200, 300, 400, 500, 600, and
700 airplanes. The NPRM published in
the Federal Register on September 18,
2015 (80 FR 56413) (‘‘the NPRM’’).
The European Aviation Safety Agency
(EASA), which is the Technical Agent
for the Member States of the European
Union, has issued EASA Airworthiness
Directive 2014–0100, dated April 30,
2014 (referred to after this as the
Mandatory Continuing Airworthiness
Information, or ‘‘the MCAI’’), to correct
an unsafe condition for all Fokker
Services B.V. Model F.27 Mark 200, 300,
400, 500, 600, and 700 airplanes. The
MCAI states:
Prompted by an accident * * *, the FAA
published Special Federal Aviation
Regulation (SFAR) 88 [(66 FR 23086, May 7,
2001)], and the Joint Aviation Authorities
(JAA) published Interim Policy INT/POL/25/
12.
The review conducted by Fokker Services
on the Fokker 27 design in response to these
regulations revealed that no controlled
E:\FR\FM\29FER1.SGM
29FER1
]]>Agencies
[Federal Register Volume 81, Number 39 (Monday, February 29, 2016)]
[Rules and Regulations]
[Pages 10063-10070]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-03877]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF TREASURY
Office of the Comptroller of the Currency
12 CFR Part 4
[Docket ID OCC-2016-0001]
RIN 1557-AE01
FEDERAL RESERVE SYSTEM
12 CFR Parts 208 and 211
[Docket No. R-1531]
RIN 7100-AE45
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Parts 337, 347, and 390
RIN 3064-AE42
Expanded Examination Cycle for Certain Small Insured Depository
Institutions and U.S. Branches and Agencies of Foreign Banks
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury;
Board of Governors of the Federal Reserve System (Board); and Federal
Deposit Insurance Corporation (FDIC).
ACTION: Joint interim final rules and request for comments.
-----------------------------------------------------------------------
SUMMARY: The OCC, Board, and FDIC (collectively, the agencies) are
jointly issuing and requesting public comment on interim final rules to
implement section 83001 of the Fixing America's Surface Transportation
Act (FAST Act), which was enacted on December 4, 2015. Section 83001 of
the FAST Act permits the agencies to examine qualifying insured
depository institutions with less than $1 billion in total assets no
less than once during each 18-month period. Prior to enactment of the
FAST Act, only qualifying insured depository institutions with less
than $500 million in total assets were eligible for an 18-month on-site
examination cycle. The interim final rules generally would allow well
capitalized and well managed institutions with less than $1 billion in
total assets to benefit from the extended 18-month examination
schedule. In addition, the interim final rules make parallel changes to
the agencies' regulations governing the on-site examination cycle for
U.S. branches and agencies of foreign banks, consistent with the
International Banking Act of 1978. Finally, the FDIC is integrating its
regulations regarding the frequency of safety and soundness
examinations for State nonmember banks and State savings associations.
[[Page 10064]]
DATES: These interim final rules are effective on February 29, 2016.
Comments on the rules must be received by April 29, 2016.
ADDRESSES:
OCC: Commenters are encouraged to submit comments by the Federal
eRulemaking Portal or email, if possible. Please use the title
``Expanded Examination Cycle for Certain Small Insured Depository
Institutions and U.S. Branches and Agencies of Foreign Banks'' to
facilitate the organization and distribution of the comments. You may
submit comments by any of the following methods:
Federal eRulemaking Portal--``regulations.gov'': Go to
https://www.regulations.gov. Enter ``Docket ID OCC-2016-0001'' in the
Search Box and click ``Search.'' Results can be filtered using the
filtering tools on the left side of the screen. Click on ``Comment
Now'' to submit public comments. Click on the ``Help'' tab on the
Regulations.gov home page to get information on using Regulations.gov,
including instructions for submitting public comments.
Email: regs.comments@occ.treas.gov.
Mail: Legislative and Regulatory Activities Division,
Office of the Comptroller of the Currency, 400 7th Street SW., Suite
3E-218, Mail Stop 9W-11, Washington, DC 20219.
Hand Delivery/Courier: 400 7th Street SW., Suite 3E-218,
Mail Stop 9W-11, Washington, DC 20219.
Fax: (571) 465-4326.
Instructions: You must include ``OCC'' as the agency name and
``Docket ID OCC-2016-0001'' in your comment. In general, the OCC will
enter all comments received into the docket and publish them on the
Regulations.gov Web site without change, including any business or
personal information that you provide, such as name and address
information, email addresses, or phone numbers. Comments received,
including attachments and other supporting materials, are part of the
public record and subject to public disclosure. Do not enclose any
information in your comment or supporting materials that you consider
confidential or inappropriate for public disclosure.
You may review comments and other related materials that pertain to
this rulemaking action by any of the following methods:
Viewing Comments Electronically: Go to https://www.regulations.gov. Enter ``Docket ID OCC-2016-0001'' in the Search
box and click ``Search.'' Comments can be filtered by Agency using the
filtering tools on the left side of the screen. Click on the ``Help''
tab on the Regulations.gov home page to get information on using
Regulations.gov, including instructions for viewing public comments,
viewing other supporting and related materials, and viewing the docket
after the close of the comment period.
Viewing Comments Personally: You may personally inspect
and photocopy comments at the OCC, 400 7th Street SW., Washington, DC.
For security reasons, the OCC requires visitors to make an appointment
to inspect comments. You may do so by calling (202) 649-6700 or, for
persons who are deaf or hard of hearing, TTY, (202) 649-5597. Upon
arrival, visitors will be required to present a valid government-issued
photo identification and to submit to security screening in order to
inspect and photocopy comments.
Docket: You may also view or request available background
documents and project summaries using the methods described above.
Board: You may submit comments, identified by Docket No. R-1531, by
any of the following methods:
Agency Web site: https://www.federalreserve.gov. Follow the
instructions for submitting comments at https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments.
Email: regs.comments@federalreserve.gov. Include docket
number in the subject line of the message.
FAX: (202) 452-3819 or (202) 452-3102.
Mail: Robert deV. Frierson, Secretary, Board of Governors
of the Federal Reserve System, 20th Street and Constitution Avenue NW.,
Washington, DC 20551.
All public comments are available from the Board's Web site at
https://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as
submitted, unless modified for technical reasons. Accordingly, your
comments will not be edited to remove any identifying or contact
information. Public comments may also be viewed electronically or in
paper form in Room MP-500 of the Board's Martin Building (20th and C
Street NW.) between 9:00 a.m. and 5:00 p.m. on weekdays.
FDIC: You may submit comments by any of the following methods:
Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments.
Agency Web site: https://www.FDIC.gov/regulations/laws/federal/.
Mail: Robert E. Feldman, Executive Secretary, Attention:
Comments/Legal ESS, Federal Deposit Insurance Corporation, 550 17th
Street NW., Washington, DC 20429.
Hand Delivered/Courier: The guard station at the rear of
the 550 17th Street Building NW. (located on F Street), on business
days between 7:00 a.m. and 5:00 p.m.
Email: comments@FDIC.gov.
Instructions: Comments submitted must include ``FDIC'' and ``RIN
3064-AE42.'' Comments received will be posted without change to https://www.FDIC.gov/regulations/laws/federal/, including any personal
information provided.
FOR FURTHER INFORMATION CONTACT:
OCC: Deborah Katz, Assistant Director, or Melissa J. Lisenbee,
Attorney, Legislative and Regulatory Activities Division, (202) 649-
5490; Scott Schainost, Midsize and Community Bank Supervision Liaison,
Midsize and Community Bank Supervision, (202) 649-8173.
Board: Division of Banking Supervision and Regulation--Richard
Naylor, Associate Director, (202) 728-5854; Richard Watkins, Deputy
Associate Director, (202) 452-3421; Virginia Gibbs, Manager, (202) 452-
2521; or Alexander Kobulsky, Supervisory Financial Analyst, (202) 452-
2031; and Legal Division--Laurie Schaffer, Associate General Counsel,
(202) 452-2277; Brian Chernoff, Senior Attorney, (202) 452-2952; or
Mary Watkins, Attorney, (202) 452-3722.
FDIC: Thomas F. Lyons, Chief, Policy and Program Development, (202)
898-6850, Karen J. Currie, Senior Examination Specialist, (202) 898-
3981, Timothy R. Millette, Program Specialist, Policy Branch Division
of Risk Management and Supervision; Mark A. Mellon, Counsel, (202) 898-
3884 for revisions to 12 CFR part 337; Rodney D. Ray, Counsel, (202)
898-3556 for revisions to 12 CFR part 347; Suzanne J. Dawley, Senior
Attorney, (202) 898-6509 for revisions to 12 CFR part 390.
SUPPLEMENTARY INFORMATION:
I. Background
Section 10(d) of the Federal Deposit Insurance Act (FDI Act)
generally requires the appropriate Federal banking agency for an
insured depository institution (IDI) to conduct a full-scope, on-site
examination of the institution at least once during each 12-month
period.\1\ Prior to enactment of
[[Page 10065]]
section 83001 of the FAST Act,\2\ section 10(d)(4) of the FDI Act
authorized the appropriate Federal banking agency to extend the on-site
examination cycle for an IDI to at least once during an 18-month period
if the IDI (1) had total assets of less than $500 million; (2) was well
capitalized (as defined in 12 U.S.C.1831o (prompt corrective action));
(3) was found, at its most recent examination, to be well managed \3\
and to have a composite condition of ``outstanding'' or, in the case of
an institution that has total assets of not more than $100 million,
``outstanding'' or ``good;'' (4) was not subject to a formal
enforcement proceeding or order by the FDIC or its appropriate Federal
banking agency; and (5) had not undergone a change in control during
the previous 12-month period in which a full-scope, on-site examination
otherwise would have been required. Section 10(d)(10) of the FDI Act
further gave the agencies discretionary authority to raise the size
limit for otherwise qualifying IDIs with an ``outstanding'' or ``good''
composite rating from $100 million to an amount not to exceed $500
million in total assets if the agencies determined that the higher
limit would be consistent with the principles of safety and
soundness.\4\
---------------------------------------------------------------------------
\1\ 12 U.S.C. 1820(d). Section 10(d) of the FDI Act was added by
section 111 of the Federal Deposit Insurance Corporation Improvement
Act of 1991.
\2\ Public Law 114-94, 129 Stat. 1312 (2015).
\3\ Depository institutions are evaluated under the Uniform
Financial Institutions Rating System (commonly referred to as
``CAMELS''). CAMELS is an acronym that is drawn from the first
letters of the individual components of the rating system: Capital
adequacy, Asset quality, Management, Earnings, Liquidity, and
Sensitivity to market risk. CAMELS ratings of ``1'' and ``2''
correspond with ratings of ``outstanding'' and ``good.'' In addition
to having a CAMELS composite rating of ``1'' or ``2,'' an IDI is
considered to be ``well managed'' for the purposes of section 10(d)
of the FDI Act only if the IDI also received a rating of ``1'' or
``2'' for the management component of the CAMELS rating at its most
recent examination. See 72 FR 17798 (Apr. 10, 2007).
\4\ 12 U.S.C. 1820(d)(10).
---------------------------------------------------------------------------
The Board and the FDIC, as the appropriate Federal banking agencies
for State-chartered insured banks and savings associations, are
permitted to conduct on-site examinations of such IDIs on alternating
12-month or 18-month periods with the institution's State supervisor,
if the Board or FDIC, as appropriate, determines that the alternating
examination conducted by the State carries out the purposes of section
10(d) of the FDI Act.\5\
---------------------------------------------------------------------------
\5\ 12 U.S.C. 1820(d)(3).
---------------------------------------------------------------------------
In addition, section 7(c)(1)(C) of the International Banking Act
(IBA) provides that a Federal or a State branch or agency of a foreign
bank shall be subject to on-site examination by its appropriate Federal
banking agency or State bank supervisor as frequently as a national or
State bank would be subject to such an examination by the agency.\6\
The agencies previously adopted regulations to implement the
examination cycle requirements of section 10(d) of the FDI Act and
section 7(c)(1)(C) of the IBA, including the extended 18-month
examination cycle available to qualifying small institutions and U.S.
branches and agencies of foreign banks.\7\ The agencies have also
exercised discretion under section 10(d)(10) of the FDI Act, first, in
1997 to extend the 18-month examination cycle for otherwise qualifying
institutions with ``good'' composite ratings \8\ with total assets of
$250 million or less, and again in 2007 for such institutions with
total assets of $500 million or less.\9\
---------------------------------------------------------------------------
\6\ 12 U.S.C. 3105(c)(1)(C).
\7\ See 12 CFR 4.6 and 4.7 (OCC), 12 CFR 208.64 and 211.26
(Board), 12 CFR 337.12, 390.351 and 347.211 (FDIC).
\8\ Corresponding to a CAMELS or Risk management, Operational
controls, Compliance, and Asset quality (ROCA) rating of ``2.''
\9\ See 62 FR 6449 (Feb. 12, 1997) (interim final rule); see
also 63 FR 16377 (Apr. 2, 1998) (final rule); see also 72 FR 17798
(Apr. 10, 2007) (interim final rule); see also 72 FR 54347 (Sept.
25, 2007) (final rule).
---------------------------------------------------------------------------
Section 83001 of the FAST Act, effective on December 4, 2015,
amended section 10(d) of the FDI Act to raise, from $500 million to $1
billion, the total asset threshold below which an agency may apply an
18-month (rather than a 12-month) on-site examination cycle for IDIs
with ``outstanding'' composite ratings, and to raise, from not more
than $100 million to not more than $200 million, the total asset
threshold below which an agency may apply an 18-month examination cycle
to an institution with an ``outstanding'' or ``good'' composite
rating.\10\ Section 83001 also amended section 10(d)(10) of the FDI Act
to authorize the appropriate Federal banking agency to increase, by
regulation, the maximum amount limitation for IDIs with ``outstanding''
or ``good'' composite ratings from not more than $200 million to not
more than $1 billion if the appropriate Federal banking agency
determines that the higher amount would be consistent with the
principles of safety and soundness for IDIs.\11\
---------------------------------------------------------------------------
\10\ Public Law 114-94, 129 Stat. 1312 (2015).
\11\ Id.
---------------------------------------------------------------------------
These FAST Act amendments reduce regulatory burdens on small, well
capitalized, and well managed institutions and allow the agencies to
better focus their supervisory resources on those IDIs and U.S.
branches and agencies of foreign banks that may present capital,
managerial, or other issues of supervisory concern.
II. Description of the Interim Final Rules
The agencies are adopting interim final rules to implement the FAST
Act amendments to section 10(d) of the FDI Act. In particular, the
agencies are amending their respective rules to raise, from $500
million to $1 billion, the total asset threshold below which an
institution that meets the criteria in section 10(d) and the agencies'
rules may qualify for an 18-month, on-site examination cycle. In
addition, as authorized by the FAST Act, the agencies have determined
that it is consistent with the principles of safety and soundness to
permit institutions with total assets of $200 million or greater and
not exceeding $1 billion that receive a composite CAMELS or ROCA rating
of ``1'' or ``2,'' and that meet the other qualifying criteria set
forth in section 10(d) and the agencies' rules to qualify for an 18-
month examination cycle. The FDIC analyzed the frequency with which
institutions rated a composite CAMELS rating of ``1'' or ``2'' failed
within five years, versus the frequency with which institutions rated a
composite CAMELS rating of ``3,'' ``4,'' or ``5'' failed within five
years. FDIC analysis indicates that between 1985 and 2010 (using bank
failure data through 2015),\12\ FDIC-insured depository institutions
with assets less than $1 billion and a composite CAMELS rating of ``1''
or ``2'' had a five-year failure rate that was one-seventh as high as
institutions with a CAMELS rating of ``3,'' ``4,'' or ``5.'' Moreover,
the relationship between failure rates in the two ratings groups does
not meaningfully change when the analysis is restricted to institutions
with assets between $200 million and $500 million compared to
institutions with assets between $500 million to $1 billion. This
analysis suggests that extending the examination cycle for well-rated
institutions with $500 million to $1 billion in assets by an additional
six months, combined with the agencies' off-site monitoring activities
and ability to examine an institution more frequently as necessary or
appropriate, will not negatively affect the safe and sound operations
of qualifying institutions or the ability of the agencies to
effectively supervise and protect the safety and soundness of
institutions with total assets of less than $1
[[Page 10066]]
billion.\13\ Furthermore, the agencies note that, in order to qualify
for an 18-month examination cycle, any institution with total assets of
less than $1 billion--including one with a CAMELS composite rating of
``2''--must meet the other capital, managerial, and supervisory
criteria set forth in section 10(d).
---------------------------------------------------------------------------
\12\ A list of failed institutions can be found on the FDIC's
Web site at https://www.fdic.gov/bank/individual/failed/banklist.html.
\13\ The agencies continue to reserve the right in their
regulations to examine an IDI or U.S. branch or agency of a foreign
bank more frequently than is required by the FDI Act or IBA. See 12
CFR 4.6(c) and 4.7(c) (OCC), 12 CFR 208.64(c) and 211.26(c)(3)
(Board), 12 CFR 337.12(c), 390.351(c), and 347.211(c) (FDIC).
---------------------------------------------------------------------------
Consistent with section 7(c)(1)(C) of the IBA, the agencies also
are making conforming changes to their regulations governing the on-
site examination cycle for the U.S. branches and agencies of foreign
banks. The interim final rules permit a U.S. branch or agency of a
foreign bank with total assets of less than $1 billion to qualify for
an 18-month examination cycle if the U.S. branch or agency of a foreign
bank received a composite ROCA rating of ``1'' or ``2'' at its most
recent examination and meets the other applicable criteria.
The agencies estimate that the interim final rules will increase
the number of institutions that may qualify for an extended 18-month
examination cycle by approximately 617 institutions (371 of which are
supervised by the FDIC, 142 by the OCC, and 104 by the Board), bringing
the total number to 4,987 IDIs.\14\ Approximately 89 U.S. branches and
agencies of foreign banks would be eligible for the extended
examination cycle based on the interim final rules, an increase of 26
(1 of which is supervised by the FDIC, 3 by the OCC, and 22 by the
Board).\15\
---------------------------------------------------------------------------
\14\ Call report data, Sept. 30, 2015.
\15\ Id.
---------------------------------------------------------------------------
Consistent Treatment for Insured State Savings Associations Regarding
Examination Frequency
The Dodd-Frank Wall Street Reform and Consumer Protection Act
(Dodd-Frank Act) provided for a substantial reorganization of the
regulation of State and Federal savings associations and their holding
companies.\16\ Beginning July 21, 2011, the powers, duties, and
functions formerly performed by the Office of Thrift Supervision (OTS)
were transferred to the FDIC, as to State savings associations, the
OCC, as to Federal savings associations, and the Board, as to savings
and loan holding companies. Section 316(b) of the Dodd-Frank Act \17\
provides the manner of treatment for all orders, resolutions,
determinations, regulations, and advisory materials that had been
issued, made, prescribed, or allowed to become effective by the OTS.
Section 316(b) provides that if such materials were in effect on the
day before the transfer date, they continue in effect and are
enforceable by or against the appropriate successor agency until they
are modified, terminated, set aside, or superseded in accordance with
applicable law by such successor agency, by any court of competent
jurisdiction, or by operation of law.
---------------------------------------------------------------------------
\16\ 12 U.S.C. 5301, et seq.
\17\ 12 U.S.C. 5414(c).
---------------------------------------------------------------------------
Section 316(c) of the Dodd-Frank Act further directed the FDIC and
the OCC to consult with one another and to publish a list of the
continued OTS regulations that will be enforced by the FDIC and the
OCC, respectively. On June 14, 2011, the FDIC's Board of Directors
approved a ``List of OTS Regulations to be Enforced by the OCC and the
FDIC Pursuant to the Dodd-Frank Wall Street Reform and Consumer
Protection Act.'' This list was published by the FDIC and the OCC as a
Joint Notice in the Federal Register on July 6, 2011.\18\
---------------------------------------------------------------------------
\18\ 76 FR 39247 (July 6, 2011).
---------------------------------------------------------------------------
Although section 312(b)(2)(B)(i)(II) of the Dodd-Frank Act \19\
granted the OCC rulemaking authority relating to both State and Federal
savings associations, nothing in the Dodd-Frank Act affected the FDIC's
existing authority to issue regulations for State savings associations
under the FDI Act and other laws as the ``appropriate Federal banking
agency'' or under similar statutory terminology. Section 312(c) of the
Dodd-Frank Act \20\ amended the definition of ``appropriate Federal
banking agency'' contained in section 3(q) of the FDI Act \21\ to add
State savings associations to the list of entities for which the FDIC
is designated as the ``appropriate Federal banking agency.'' As a
result, when the FDIC acts as the designated ``appropriate Federal
banking agency'' (or under similar terminology) for State savings
associations, as it does here, the FDIC is authorized to issue, modify,
and rescind regulations involving such associations.
---------------------------------------------------------------------------
\19\ 12 U.S.C. 5412(b)(2)(B)(i)(II).
\20\ 12 U.S.C. 5412(c).
\21\ 12 U.S.C. 1813(q).
---------------------------------------------------------------------------
As noted, on June 14, 2011, operating pursuant to this authority,
the FDIC's Board of Directors reissued and re-designated certain
transferring regulations of the former OTS. These transferred OTS
regulations were published as new FDIC regulations in the Federal
Register on August 5, 2011.\22\ When the FDIC republished the
transferred OTS regulations as new FDIC regulations, the FDIC
specifically noted that its staff would evaluate the transferred OTS
rules and might later recommend incorporating the transferred OTS
regulations into other FDIC rules, amending them, or rescinding them,
as appropriate.
---------------------------------------------------------------------------
\22\ 76 FR 47652 (Aug. 5, 2011).
---------------------------------------------------------------------------
Twelve CFR 390.351 implements the FDIC's examination requirements
for savings associations under the authority of section 4(a) of the
Home Owners' Loan Act (HOLA),\23\ which provides that the FDIC will
examine State savings associations for safety and soundness and under
section 10(d) of the FDI Act, which covers examinations of all
IDIs.\24\
---------------------------------------------------------------------------
\23\ 12 U.S.C. 1463.
\24\ This section was redesignated from the former OTS
regulation at section 563.171 pursuant to the Dodd-Frank Act
transfer of authority for State savings associations.
---------------------------------------------------------------------------
Section 390.351 requires full-scope, on-site examinations of State
savings associations at least once each 12-month period and once each
18-month period for a State savings association with total assets of no
more than $500 million that is well capitalized; was assigned a CAMELS
``1'' or ``2'' for management and was rated either a CAMELS composite
``1'' or ``2'' on its most recent examination; is not currently under a
formal enforcement proceeding or order by the FDIC; and has not
undergone a change in control during the preceding 12-month period.
Section 390.351 is substantively identical to section 337.12 and,
therefore, redundant to section 337.12. This interim final rule
rescinds and removes section 390.351. The amendment to section 337.12
in the interim final rule also reflects the authority of the FDIC under
section 4(a) of HOLA to provide for the examination and safe and sound
operation of State savings associations. With this amendment, all FDIC-
supervised institutions, including State savings associations, will be
subject to the requirements of 12 CFR 337.12.
Effective Date/Request for Comment
The agencies are issuing the interim final rules without prior
notice and the opportunity for public comment and the 30-day delayed
effective date ordinarily prescribed by the Administrative Procedure
Act (APA).\25\ Pursuant to section 553(b)(B) of the APA, general notice
and the opportunity for public comment are not required with respect to
a rulemaking when an ``agency for good cause finds (and incorporates
the finding and a brief statement of reasons therefor in the rules
issued) that notice and public procedure thereon are
[[Page 10067]]
impracticable, unnecessary, or contrary to the public interest.'' \26\
The interim final rules implement the provisions of section 83001 of
the FAST Act, which became effective on December 4, 2015. The interim
final rules adopt without change the statutory increase in the total
asset ceiling for the 18-month examination cycle for CAMELS and ROCA 1-
rated institutions and also make available, pursuant to the statutory
authority, the 18-month examination cycle for CAMELS and ROCA 2-rated
institutions. Consistent with the underlying statute, the interim final
rules would allow well capitalized and well managed institutions with
under $1 billion in total assets to benefit from the statutorily
extended 18-month examination schedule.
---------------------------------------------------------------------------
\25\ 5 U.S.C. 553.
\26\ 5 U.S.C. 553(b)(B).
---------------------------------------------------------------------------
The agencies believe that the public interest is best served by
implementing the statutorily amended thresholds as soon as possible.
Immediate implementation would reduce regulatory burdens on small, well
capitalized, and well managed institutions, while also allowing the
agencies to better focus their supervisory resources on those
institutions that may present capital, managerial, or other issues of
supervisory concern. Because the affected institutions and agencies
must plan and prepare for examinations in advance, the agencies believe
issuing interim final rules would provide the certainty necessary to
allow the institutions and agencies to begin scheduling according to
the new examination cycle period. In addition, the agencies believe
that providing a notice and comment period prior to issuance of the
interim final rules is unnecessary because the agencies do not expect
public objection to the regulations being promulgated, as these rules
implement the changes specified by Congress.\27\ Moreover, because the
interim final rules would permit an agency to conduct an on-site
examination of an institution more frequently than once every 18
months, the agencies retain the ability to maintain the current--or a
more frequent--on-site examination schedule for an institution, if the
relevant agency determines it would be necessary or appropriate.
---------------------------------------------------------------------------
\27\ All eleven commenters supported the agencies' 2007 interim
final rules implementing section 605 of the Financial Services
Regulatory Relief Act of 2006 (FSRRA), which revised section 10(d)
to allow institutions with up to $500 million in total assets to
qualify for an 18-month on-site examination cycle. Prior to the
enactment of FSRRA, only institutions with less than $250 million
were eligible for an 18-month on-site examination cycle. See 72 FR
54347 (final rule); see also 72 FR 17798 (interim rule).
---------------------------------------------------------------------------
Similarly, the FDIC believes there is good cause to rescind and
remove section 390.351 because section 337.12 will be made immediately
applicable to both insured State savings associations and insured State
nonmember banks. As a result, insured State savings associations will
be provided the same burden reduction benefits and appropriate
supervisory focus afforded to insured State nonmember banks. For these
reasons, the agencies find there is good cause consistent with the
public interest to issue the rules without advance notice and
comment.\28\
---------------------------------------------------------------------------
\28\ 5 U.S.C. 553(b)(B); 553(d)(3).
---------------------------------------------------------------------------
The APA also requires a 30-day delayed effective date, except for
(1) substantive rules which grant or recognize an exemption or relieve
a restriction; (2) interpretative rules and statements of policy; or
(3) as otherwise provided by the agency for good cause.\29\ The
agencies conclude that, because the rules recognize an exemption, the
interim final rules are exempt from the APA's delayed effective date
requirement.\30\ Additionally, the agencies find good cause to publish
the interim final rules with an immediate effective date for the same
reasons set forth above under the discussion of section 553(b)(B) of
the APA.
---------------------------------------------------------------------------
\29\ 5 U.S.C. 553(d).
\30\ 5 U.S.C. 553(d)(1).
---------------------------------------------------------------------------
Pursuant to section 302(a) of the Riegle Community Development and
Regulatory Improvement Act (RCDRIA),\31\ in determining the effective
date and administrative compliance requirements for a new regulation
that imposes additional reporting, disclosure, or other requirements on
IDIs, each Federal banking agency must consider any administrative
burdens that such regulation would place on depository institutions and
the benefits of such regulation. In addition, section 302(b) of the
RCDRIA requires such new regulation to take effect on the first day of
a calendar quarter that begins on or after the date on which the
regulations are published in final form, with certain exceptions,
including for good cause. Because the interim final rules expand
eligibility for an 18-month, rather than 12-month on-site examination
schedule and are burden-reducing in nature, the interim final rules do
not impose additional reporting, disclosure, or other requirements on
IDIs, and section 302 of the RCDRIA therefore does not apply.
Nevertheless, the agencies have considered the administrative burdens
that such regulations would place on depository institutions and the
benefits of such regulations in determining the effective date and
compliance requirements. In addition, for the same reasons set forth
above under the discussion of section 553(b)(B) of the APA, the
agencies find good cause would exist under section 302 of RCDRIA to
publish these interim final rules with an immediate effective date.
---------------------------------------------------------------------------
\31\ 12 U.S.C. 4802(a).
---------------------------------------------------------------------------
While the agencies believe there is good cause to issue the rules
without advance notice and comment and with an immediate effective
date, the agencies are interested in the views of the public and
request comment on all aspects of the interim final rules.
III. Solicitation of Comments on Use of Plain Language
Section 722 of the Gramm-Leach-Bliley Act \32\ requires the Federal
banking agencies to use plain language in all proposed and final rules
published after January 1, 2000. The Federal banking agencies invite
your comments on how to make these interim final rules easier to
understand. For example:
---------------------------------------------------------------------------
\32\ Pub. L. 106-102, section 722, 113 Stat. 1338, 1471 (1999).
---------------------------------------------------------------------------
Have the agencies organized the material to suit your
needs? If not, how could this material be better organized?
Are the requirements in the interim final rules clearly
stated? If not, how could the interim final rules be more clearly
stated?
Do the interim final rules contain language or jargon that
is not clear? If so, which language requires clarification?
Would a different format (grouping and order of sections,
use of headings, paragraphing) make the interim final rules easier to
understand? If so, what changes to the format would make the interim
final rules easier to understand?
What else could the agencies do to make the regulation
easier to understand?
IV. Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA) \33\ applies only to rules for
which an agency publishes a general notice of proposed rulemaking
pursuant to 5 U.S.C. 553(b). As discussed above, consistent with
section 553(b)(B) of the APA, the agencies have determined for good
cause that general notice and opportunity for public comment is not
necessary. Accordingly, the RFA's requirements relating to initial and
final regulatory flexibility analysis do not
[[Page 10068]]
apply. Nonetheless, the agencies observe that the extension of the
periodic examination cycle for certain small institutions from 12 to 18
months should not have a significant adverse economic impact on a
substantial number of small entities, and, in fact, should reduce
regulatory burdens on these entities. The agencies request comment on
these conclusions.
---------------------------------------------------------------------------
\33\ Pub. L. 96-354, Sept. 19, 1980, codified to 5 U.S.C. 601 et
seq.
---------------------------------------------------------------------------
V. Paperwork Reduction Act
The Paperwork Reduction Act of 1995 \34\ states that no agency may
conduct or sponsor, nor is the respondent required to respond to, an
information collection unless it displays a currently valid Office of
Management and Budget (OMB) control number. Because the interim final
rules do not create a new, or revise an existing, collection of
information, no information collection request submission needs to be
made to the OMB.
---------------------------------------------------------------------------
\34\ 44 U.S.C. 3501-3521.
---------------------------------------------------------------------------
VI. The Economic Growth and Regulatory Paperwork Reduction Act
Under section 2222 of the Economic Growth and Regulatory Paperwork
Reduction Act of 1996 (EGRPRA),\35\ the agencies are required to
conduct a review at least once every 10 years to identify any outdated
or otherwise unnecessary regulations. The agencies completed the last
comprehensive review of their regulations under EGRPRA in 2006 and are
currently conducting the next decennial review. The burden reduction
evidenced in these interim final rules is consistent with the
objectives of the EGRPRA review process.
---------------------------------------------------------------------------
\35\ Pub. L. 104-208, 110 Stat. 3009 (1996).
---------------------------------------------------------------------------
VII. OCC Unfunded Mandates Reform Act of 1995 Determination
Consistent with section 202 of the Unfunded Mandates Reform Act of
1995, before promulgating any final rule for which a general notice of
proposed rulemaking was published, the OCC prepares an economic
analysis of the final rule. As discussed above, the OCC has determined
that the publication of a general notice of proposed rulemaking was
unnecessary. Accordingly, the OCC has not prepared an economic analysis
of the joint interim final rules.
List of Subjects
12 CFR Part 4
Administrative practice and procedure, Freedom of information,
Individuals with disabilities, Minority businesses, Organization and
functions (Government agencies), Reporting and recordkeeping
requirements, Women.
12 CFR Part 208
Accounting, Agriculture, Banks, banking, Confidential business
information, Crime, Currency, Federal Reserve System, Flood insurance,
Mortgages, Reporting and recordkeeping requirements, Safety and
soundness, Securities.
12 CFR Part 211
Exports, Federal Reserve System, Foreign banking, Holding
companies, Investments, Reporting and recordkeeping requirements.
12 CFR Part 337
Banks, banking, Reporting and recordkeeping requirements, Savings
associations.
12 CFR Part 347
Authority delegations (Government agencies), Bank deposit
insurance, Banks, banking, Credit, Foreign banking, Reporting and
recordkeeping requirements, United States investments abroad.
12 CFR Part 390
Administrative practice and procedure, Advertising, Aged, Civil
rights, Conflict of interests, Credit, Crime, Equal employment
opportunity, Fair housing, Government employees, Individuals with
disabilities, Reporting and recordkeeping requirements, Savings
associations.
Office of the Comptroller of the Currency
12 CFR Chapter I
Authority and Issuance
For the reasons set forth in the joint preamble, the OCC amends
part 4 of chapter I of title 12 of the Code of Federal Regulations as
follows:
PART 4--ORGANIZATION AND FUNCTIONS, AVAILABILITY AND RELEASE OF
INFORMATION, CONTRACTING OUTREACH PROGRAM, POST-EMPLOYMENT
RESTRICTIONS FOR SENIOR EXAMINERS
0
1. The authority citation for part 4 is revised to read as follows:
Authority: 5 U.S.C. 301, 552; 12 U.S.C. 1, 93a, 161, 481, 482,
484(a), 1442, 1462a, 1463, 1464 1817(a), 1818, 1820, 1821, 1831m,
1831p-1, 1831o, 1833e, 1867, 1951 et seq., 2601 et seq., 2801 et
seq., 2901 et seq., 3101 et seq., 3401 et seq., 5321, 5412, 5414; 15
U.S.C. 77uu(b), 78q(c)(3); 18 U.S.C. 641, 1905, 1906; 29 U.S.C.
1204; 31 U.S.C. 5318(g)(2), 9701; 42 U.S.C. 3601; 44 U.S.C. 3506,
3510; E.O. 12600 (3 CFR, 1987 Comp., p. 235).
0
2. Section 4.6 is revised to read as follows:
Sec. 4.6 Frequency of examination of national banks and Federal
savings associations.
(a) General. The OCC examines national banks and Federal savings
associations pursuant to authority conferred by 12 U.S.C. 481 (with
respect to national banks) and 1463(a)(1) and 1464 (with respect to
Federal savings associations) and the requirements of 12 U.S.C. 1820(d)
(with respect to national banks and Federal savings associations). The
OCC is required to conduct a full-scope, on-site examination of every
national bank and Federal savings association at least once during each
12-month period.
(b) 18-month rule for certain small institutions. The OCC may
conduct a full-scope, on-site examination of a national bank or a
Federal savings association at least once during each 18-month period,
rather than each 12-month period as provided in paragraph (a) of this
section, if the following conditions are satisfied:
(1) The bank or Federal savings association has total assets of
less than $1 billion;
(2) The bank or Federal savings association is well capitalized as
defined in part 6 of this chapter;
(3) At the most recent examination;
(i) The bank or Federal savings association was assigned a rating
of 1 or 2 for management as part of the bank's or association's rating
under the Uniform Financial Institutions Rating System; and
(ii) The bank or Federal savings association was assigned a
composite rating of 1 or 2 under the Uniform Financial Institutions
Rating System;
(4) The bank or Federal savings association currently is not
subject to a formal enforcement proceeding or order by the FDIC, OCC,
OTS or the Federal Reserve System; and
(5) No person acquired control of the bank or Federal savings
association during the preceding 12-month period in which a full-scope,
on-site examination would have been required but for this section.
(c) Authority to conduct more frequent examinations. This section
does not limit the authority of the OCC to examine any national bank or
Federal savings association as frequently as the agency deems
necessary.
0
3. Section 4.7 is revised to read as follows:
[[Page 10069]]
Sec. 4.7 Frequency of examination of Federal agencies and branches.
(a) General. The OCC examines Federal agencies and Federal branches
(as these entities are defined in Sec. 28.11 (g) and (h),
respectively, of this chapter) pursuant to the authority conferred by
12 U.S.C. 3105(c)(1)(C). Except as noted in paragraph (b) of this
section, the OCC will conduct a full-scope, on-site examination of
every Federal branch and agency at least once during each 12-month
period.
(b) 18-month rule for certain small institutions--(1) Mandatory
standards. The OCC may conduct a full-scope, on-site examination at
least once during each 18-month period, rather than each 12-month
period as provided in paragraph (a) of this section, if the Federal
branch or agency:
(i) Has total assets of less than $1 billion;
(ii) Has received a composite ROCA supervisory rating (which rates
risk management, operational controls, compliance, and asset quality)
of 1 or 2 at its most recent examination;
(iii) Satisfies the requirements of either paragraph (b)(1)(iii)(A)
or (B) of this section:
(A) The foreign bank's most recently reported capital adequacy
position consists of, or is equivalent to, common equity tier 1, tier 1
and total risk-based capital ratios that satisfy the definition of
``well capitalized'' set forth at 12 CFR 6.4, respectively, on a
consolidated basis; or
(B) The branch or agency has maintained on a daily basis, over the
past three quarters, eligible assets in an amount not less than 108
percent of the preceding quarter's average third party liabilities
(determined consistent with applicable federal and state law), and
sufficient liquidity is currently available to meet its obligations to
third parties;
(iv) Is not subject to a formal enforcement action or order by the
Federal Reserve Board, the Federal Deposit Insurance Corporation, or
the OCC; and
(v) Has not experienced a change in control during the preceding
12-month period in which a full-scope, on-site examination would have
been required but for this section.
(2) Discretionary standards. In determining whether a Federal
branch or agency that meets the standards of paragraph (b)(1) of this
section should not be eligible for an 18-month examination cycle
pursuant to this paragraph (b), the OCC may consider additional
factors, including whether:
(i) Any of the individual components of the ROCA rating of the
Federal branch or agency is rated ``3'' or worse;
(ii) The results of any off-site supervision indicate a
deterioration in the condition of the Federal branch or agency;
(iii) The size, relative importance, and role of a particular
office when reviewed in the context of the foreign bank's entire U.S.
operations otherwise necessitate an annual examination; and
(iv) The condition of the foreign bank gives rise to such a need.
(c) Authority to conduct more frequent examinations. Nothing in
paragraph (a) or (b) of this section limits the authority of the OCC to
examine any Federal branch or agency as frequently as the OCC deems
necessary.
Federal Reserve System
12 CFR Chapter II
Authority and Issuance
For the reasons set forth in the joint preamble, the Board amends
parts 208 and 211 of chapter II of title 12 of the Code of Federal
Regulations as follows:
PART 208--MEMBERSHIP OF STATE BANKING INSTITUTIONS IN THE FEDERAL
RESERVE SYSTEM (REGULATION H)
0
4. The authority citation for part 208 continues to read as follows:
Authority: 12 U.S.C. 24, 36, 92a, 93a, 248(a), 248(c), 321-338a,
371d, 461, 481-486, 601, 611, 1814, 1816, 1818, 1820(d)(9), 1833(j),
1828(o), 1831, 1831o, 1831p-1, 1831r-1, 1831w, 1831x, 1835a, 1882,
2901-2907, 3105, 3310, 3331-3351, 3353, and 3906-3909; 15 U.S.C.
78b, 781(b), 78l(i), 780-4(c)(5), 78q, 78q-1, 78w, 1681s, 1681w,
6801 and 6805, 31 U.S.C. 5318; 42 U.S.C. 4012a, 4104b, 4106, and
4128.
0
5. Amend Sec. 208.64 by revising paragraph (b)(1) to read as follows:
Sec. 208.64 Frequency of examination.
* * * * *
(b) * * *
(1) The bank has total assets of less than $1 billion;
* * * * *
PART 211--INTERNATIONAL BANKING OPERATIONS (REGULATION K)
0
6. The authority citation for part 211 continues to read as follows:
Authority: 12 U.S.C. 221 et seq., 1818, 1835a, 1841 et seq.,
3101 et seq., 3901 et seq., and 5101 et seq.; 15 U.S.C. 1681s,
1681w, 6801 and 6805.
0
7. Amend Sec. 211.26 by revising paragraph (c)(2)(i)(A) to read as
follows:
Sec. 211.26 Examinations of offices and affiliates of foreign banks.
* * * * *
(c) * * *
(2) * * *
(i) * * *
(A) Has total assets of less than $1 billion;
* * * * *
Federal Deposit Insurance Corporation
12 CFR Chapter III
Authority and Issuance
For the reasons set forth in the joint preamble, the Board of
Directors of the FDIC amends parts 337, 347, and 390 of chapter III of
title 12 of the Code of Federal Regulations as follows:
PART 337--UNSAFE AND UNSOUND BANK PRACTICES
0
8. The authority citation for part 337 is revised to read as follows:
Authority: 12 U.S.C. 375a(4), 375b, 1463(a)(1), 1816, 1818(a),
1818(b), 1819, 1820(d), 1828(j)(2), 1831, 1831f, 5412.
0
9. Section 337.12 is revised to read as follows:
Sec. 337.12 Frequency of examination.
(a) General. The Federal Deposit Insurance Corporation examines
insured state nonmember banks pursuant to authority conferred by
section 10 of the Federal Deposit Insurance Act (12 U.S.C. 1820) and
examines insured State savings associations pursuant to authority
conferred by section 10 of the Federal Deposit Insurance Act (12 U.S.C.
1820) and section 4 of the Home Owners' Loan Act (12 U.S.C. 1463). The
FDIC is required to conduct a full-scope, on-site examination of every
insured state nonmember bank and insured State savings association at
least once during each 12-month period.
(b) 18-month rule for certain small institutions. The FDIC may
conduct a full-scope, on-site examination of an insured state nonmember
bank or insured State savings association at least once during each 18-
month period, rather than each 12-month period as provided in paragraph
(a) of this section, if the following conditions are satisfied:
(1) The institution has total assets of less than $1 billion;
(2) The institution is well capitalized as defined in Sec.
324.403(b)(1) of this chapter;
(3) At the most recent FDIC or applicable State agency examination,
the FDIC:
(i) Assigned the institution a rating of 1 or 2 for management as
part of the institution's composite rating under the Uniform Financial
Institutions Rating System (commonly referred to as CAMELS); and
[[Page 10070]]
(ii) Assigned the institution a composite rating of 1 or 2 under
the Uniform Financial Institutions Rating System (copies of which are
available at the addresses specified in Sec. 309.4 of this chapter);
(4) The institution currently is not subject to a formal
enforcement proceeding or order by the FDIC, OCC, or the Board of
Governors of the Federal Reserve System; and
(5) No person acquired control of the institution during the
preceding 12-month period in which a full-scope, on-site examination
would have been required but for this section.
(c) Authority to conduct more frequent examinations. This section
does not limit the authority of the FDIC to examine any insured state
nonmember bank or insured State savings association as frequently as
the agency deems necessary.
PART 347--INTERNATIONAL BANKING
0
10. The authority citation for part 347 is revised to read as follows:
Authority: 12 U.S.C. 1813, 1815, 1817, 1819, 1820(d), 1828,
3103, 3104, 3105, 3108, 3109; Title IX, Publ. L. 98-181, 97 Stat.
1153 (12 U.S.C. 3901 et seq.).
0
11. Amend Sec. 347.211 by revising paragraph (b)(1)(i) to read as
follows:
Sec. 347.211 Examination of branches of foreign banks.
* * * * *
(b) * * *
(1) * * *
(i) Has total assets of less than $1 billion;
* * * * *
PART 390--REGULATIONS TRANSFERRED FROM THE OFFICE OF THRIFT
SUPERVISION
0
12. The authority citation for part 390 continues to read in part as
follows:
Authority: 12 U.S.C. 1819.
* * * * *
Subpart S also issued under 12 U.S.C. 1462; 1462a; 1463; 1464;
1468a; 1817; 1820; 1828; 1831e; 1831o; 1831p-1; 1881-1884; 3207;
3339; 15 U.S.C. 78b, 78l; 78m; 78n; 78p; 78q; 78w; 31 U.S.C. 5318;
42 U.S.C. 4106.
* * * * *
Sec. 390.351 [Removed]
0
13. Remove Sec. 390.351.
Dated: January 21, 2016.
Thomas J. Curry,
Comptroller of the Currency.
Board of Governors of the Federal Reserve System, February 10,
2016.
Robert deV. Frierson,
Secretary of the Board.
Dated: January 21, 2016.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016-03877 Filed 2-26-16; 8:45 am]
BILLING CODE 6714-01-P; 4810-33-P; 6210-01-P
