Regulatory Capital Rules: Regulatory Capital, Final Revisions Applicable to Banking Organizations Subject to the Advanced Approaches Risk-Based Capital Rule, 22173-22174 [2016-08717]
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22173
Rules and Regulations
Federal Register
Vol. 81, No. 73
Friday, April 15, 2016
This section of the FEDERAL REGISTER
contains regulatory documents having general
applicability and legal effect, most of which
are keyed to and codified in the Code of
Federal Regulations, which is published under
50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by
the Superintendent of Documents. Prices of
new books are listed in the first FEDERAL
REGISTER issue of each week.
This
document sets out in full the text of
section 324.403 as adopted by the FDIC
Board of Directors, including the
revisions published in the Federal
Register of July 15, 2015 (80 FR 41426)
and the text inadvertently deleted in the
Code of Federal Regulations as 12 CFR
324.403.
SUPPLEMENTARY INFORMATION:
12 CFR Part 324
List of Subjects in 12 CFR Part 324
Administrative practice and
procedure, Banks, Banking, Capital
adequacy, Reporting and recordkeeping
requirements, Savings associations,
State non-member banks.
RIN 3064–AE12
12 CFR CHAPTER III
Regulatory Capital Rules: Regulatory
Capital, Final Revisions Applicable to
Banking Organizations Subject to the
Advanced Approaches Risk-Based
Capital Rule
Authority and Issuance
For the reasons stated in the
preamble, the Federal Deposit Insurance
Corporation amends part 324 of chapter
III of Title 12, Code of Federal
Regulations as follows:
FEDERAL DEPOSIT INSURANCE
CORPORATION
Federal Deposit Insurance
Corporation (FDIC).
ACTION: Correcting amendment.
AGENCY:
The FDIC is correcting a Final
Rule that appeared in the Federal
Register on July 15, 2015 (80 FR 41409),
regarding Regulatory Capital Rules:
Regulatory Capital, Final Revisions
Applicable to Banking Organizations
Subject to the Advanced Approaches
Risk-Based Capital Rule (‘‘prior Federal
Register publication’’). This publication
corrects a technical error in the
instructions to the regulatory text
appearing at page 41426 of the prior
Federal Register publication, where the
inadvertent omission of certain language
in the instructions to the FDIC’s
amendatory text in § 324.403 caused the
unintended deletion of § 324.403(b)(2)
through § 324.403(d) as published in the
Code of Federal Regulations.
DATES: The correction is effective April
15, 2016.
FOR FURTHER INFORMATION CONTACT:
Ryan Billingsley, Acting Associate
Director, rbillingsley@fdic.gov; or
Benedetto Bosco, Chief, Capital Policy
Section, bbosco@fdic.gov; Capital
Markets Branch, Division of Risk
Management Supervision, (202) 898–
6888; or Michael Phillips, Counsel,
mphillips@fdic.gov; Rachel Ackmann,
Counsel, rackmann@fdic.gov;
Supervision Branch, Legal Division,
Federal Deposit Insurance Corporation,
550 17th Street NW., Washington, DC
20429.
SUMMARY:
jstallworth on DSK7TPTVN1PROD with RULES
PART 324—CAPITAL ADEQUACY
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1. The authority citation for part 324
continues to read as follows:
■
Authority: 12 U.S.C. 1815(a), 1815(b),
1816, 1818(a), 1818(b), 1818(c), 1818(t),
1819(Tenth), 1828(c), 1828(d), 1828(i),
1828(n), 1828(o), 1831o, 1835, 3907, 3909,
4808; 5371; 5412; Pub. L. 102–233, 105 Stat.
1761, 1789, 1790 (12 U.S.C. 1831n note); Pub.
L. 102–242, 105 Stat. 2236, 2355, as amended
by Pub. L. 103–325, 108 Stat. 2160, 2233 (12
U.S.C. 1828 note); Pub. L. 102–242, 105 Stat.
2236, 2386, as amended by Pub. L. 102–550,
106 Stat. 3672, 4089 (12 U.S.C. 1828 note);
Pub. L. 111–203, 124 Stat. 1376, 1887 (15
U.S.C. 78o–7 note).
2. Section 324.403 is revised to read
as follows:
■
§ 324.403 Capital measures and capital
category definitions.
(a) Capital measures. For purposes of
section 38 of the FDI Act and this
subpart H, the relevant capital measures
shall be:
(1) The total risk-based capital ratio;
(2) The Tier 1 risk-based capital ratio;
and
(3) The common equity tier 1 ratio;
(4) The leverage ratio;
(5) The tangible equity to total assets
ratio; and
(6) Beginning January 1, 2018, the
supplementary leverage ratio calculated
in accordance with § 324.11 for
advanced approaches FDIC-supervised
institutions that are subject to subpart E
of this part.
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(b) Capital categories. For purposes of
section 38 of the FDI Act and this
subpart, an FDIC-supervised institution
shall be deemed to be:
(1) ‘‘Well capitalized’’ if it:
(i) Has a total risk-based capital ratio
of 10.0 percent or greater; and
(ii) Has a Tier 1 risk-based capital
ratio of 8.0 percent or greater; and
(iii) Has a common equity tier 1
capital ratio of 6.5 percent or greater;
and
(iv) Has a leverage ratio of 5.0 percent
or greater;
(v) Is not subject to any written
agreement, order, capital directive, or
prompt corrective action directive
issued by the FDIC pursuant to section
8 of the FDI Act (12 U.S.C. 1818), the
International Lending Supervision Act
of 1983 (12 U.S.C. 3907), or the Home
Owners’ Loan Act (12 U.S.C.
1464(t)(6)(A)(ii)), or section 38 of the
FDI Act (12 U.S.C. 1831o), or any
regulation thereunder, to meet and
maintain a specific capital level for any
capital measure; and
(vi) Beginning on January 1, 2018 and
thereafter, an FDIC-supervised
institution that is a subsidiary of a
covered BHC will be deemed to be well
capitalized if the FDIC-supervised
institution satisfies paragraphs (b)(1)(i)
through (v) of this section and has a
supplementary leverage ratio of 6.0
percent or greater. For purposes of this
paragraph, a covered BHC means a U.S.
top-tier bank holding company with
more than $700 billion in total assets as
reported on the company’s most recent
Consolidated Financial Statement for
Bank Holding Companies (FR Y–9C) or
more than $10 trillion in assets under
custody as reported on the company’s
most recent Banking Organization
Systemic Risk Report (FR Y–15).
(2) ‘‘Adequately capitalized’’ if it:
(i) Has a total risk-based capital ratio
of 8.0 percent or greater; and
(ii) Has a Tier 1 risk-based capital
ratio of 6.0 percent or greater; and
(iii) Has a common equity tier 1
capital ratio of 4.5 percent or greater;
and
(iv) Has a leverage ratio of 4.0 percent
or greater; and
(v) Does not meet the definition of a
well capitalized bank.
(vi) Beginning January 1, 2018, an
advanced approaches FDIC-supervised
institution will be deemed to be
‘‘adequately capitalized’’ if it satisfies
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15APR1
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22174
Federal Register / Vol. 81, No. 73 / Friday, April 15, 2016 / Rules and Regulations
paragraphs (b)(2)(i) through (v) of this
section and has a supplementary
leverage ratio of 3.0 percent or greater,
as calculated in accordance with
§ 324.11 of subpart B of this part.
(3) ‘‘Undercapitalized’’ if it:
(i) Has a total risk-based capital ratio
that is less than 8.0 percent; or
(ii) Has a Tier 1 risk-based capital
ratio that is less than 6.0 percent; or
(iii) Has a common equity tier 1
capital ratio that is less than 4.5 percent;
or
(iv) Has a leverage ratio that is less
than 4.0 percent.
(v) Beginning January 1, 2018, an
advanced approaches FDIC-supervised
institution will be deemed to be
‘‘undercapitalized’’ if it has a
supplementary leverage ratio of less
than 3.0 percent, as calculated in
accordance with § 324.11.
(4) ‘‘Significantly undercapitalized’’ if
it has:
(i) A total risk-based capital ratio that
is less than 6.0 percent; or
(ii) A Tier 1 risk-based capital ratio
that is less than 4.0 percent; or
(iii) A common equity tier 1 capital
ratio that is less than 3.0 percent; or
(iv) A leverage ratio that is less than
3.0 percent.
(5) ‘‘Critically undercapitalized’’ if the
insured depository institution has a
ratio of tangible equity to total assets
that is equal to or less than 2.0 percent.
(c) Capital categories for insured
branches of foreign banks. For purposes
of the provisions of section 38 of the FDI
Act and this subpart H, an insured
branch of a foreign bank shall be
deemed to be:
(1) ‘‘Well capitalized’’ if the insured
branch:
(i) Maintains the pledge of assets
required under § 347.209 of this chapter;
and
(ii) Maintains the eligible assets
prescribed under § 347.210 of this
chapter at 108 percent or more of the
preceding quarter’s average book value
of the insured branch’s third-party
liabilities; and
(iii) Has not received written
notification from:
(A) The OCC to increase its capital
equivalency deposit pursuant to 12 CFR
28.15, or to comply with asset
maintenance requirements pursuant to
12 CFR 28.20; or
(B) The FDIC to pledge additional
assets pursuant to § 347.209 of this
chapter or to maintain a higher ratio of
eligible assets pursuant to § 347.210 of
this chapter.
(2) ‘‘Adequately capitalized’’ if the
insured branch:
(i) Maintains the pledge of assets
required under § 347.209 of this chapter;
and
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Jkt 238001
(ii) Maintains the eligible assets
prescribed under § 347.210 of this
chapter at 106 percent or more of the
preceding quarter’s average book value
of the insured branch’s third-party
liabilities; and
(iii) Does not meet the definition of a
well capitalized insured branch.
(3) ‘‘Undercapitalized’’ if the insured
branch:
(i) Fails to maintain the pledge of
assets required under § 347.209 of this
chapter; or
(ii) Fails to maintain the eligible
assets prescribed under § 347.210 of this
chapter at 106 percent or more of the
preceding quarter’s average book value
of the insured branch’s third-party
liabilities.
(4) ‘‘Significantly undercapitalized’’ if
it fails to maintain the eligible assets
prescribed under § 347.210 of this
chapter at 104 percent or more of the
preceding quarter’s average book value
of the insured branch’s third-party
liabilities.
(5) ‘‘Critically undercapitalized’’ if it
fails to maintain the eligible assets
prescribed under § 347.210 of this
chapter at 102 percent or more of the
preceding quarter’s average book value
of the insured branch’s third-party
liabilities.
(d) Reclassifications based on
supervisory criteria other than capital.
The FDIC may reclassify a well
capitalized FDIC-supervised institution
as adequately capitalized and may
require an adequately capitalized FDICsupervised institution or an
undercapitalized FDIC-supervised
institution to comply with certain
mandatory or discretionary supervisory
actions as if the FDIC-supervised
institution were in the next lower
capital category (except that the FDIC
may not reclassify a significantly
undercapitalized FDIC-supervised
institution as critically
undercapitalized) (each of these actions
are hereinafter referred to generally as
‘‘reclassifications’’) in the following
circumstances:
(1) Unsafe or unsound condition. The
FDIC has determined, after notice and
opportunity for hearing pursuant to
§ 308.202(a) of this chapter, that the
FDIC-supervised institution is in unsafe
or unsound condition; or
(2) Unsafe or unsound practice. The
FDIC has determined, after notice and
opportunity for hearing pursuant to
§ 308.202(a) of this chapter, that, in the
most recent examination of the FDICsupervised institution, the FDICsupervised institution received and has
not corrected a less-than-satisfactory
rating for any of the categories of asset
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quality, management, earnings, or
liquidity.
Dated at Washington, DC, this 12th day of
April, 2016.
By order of the Board of Directors.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016–08717 Filed 4–14–16; 8:45 am]
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Food and Drug Administration
21 CFR Part 106
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AGENCY:
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Notification of availability.
The Food and Drug
Administration (FDA or we) is
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Good Manufacturing Practices (CGMPs),
Quality Control Procedures, Conduct of
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[Federal Register Volume 81, Number 73 (Friday, April 15, 2016)]
[Rules and Regulations]
[Pages 22173-22174]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-08717]
========================================================================
Rules and Regulations
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
under 50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by the Superintendent of Documents.
Prices of new books are listed in the first FEDERAL REGISTER issue of each
week.
========================================================================
Federal Register / Vol. 81, No. 73 / Friday, April 15, 2016 / Rules
and Regulations
[[Page 22173]]
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Part 324
RIN 3064-AE12
Regulatory Capital Rules: Regulatory Capital, Final Revisions
Applicable to Banking Organizations Subject to the Advanced Approaches
Risk-Based Capital Rule
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Correcting amendment.
-----------------------------------------------------------------------
SUMMARY: The FDIC is correcting a Final Rule that appeared in the
Federal Register on July 15, 2015 (80 FR 41409), regarding Regulatory
Capital Rules: Regulatory Capital, Final Revisions Applicable to
Banking Organizations Subject to the Advanced Approaches Risk-Based
Capital Rule (``prior Federal Register publication''). This publication
corrects a technical error in the instructions to the regulatory text
appearing at page 41426 of the prior Federal Register publication,
where the inadvertent omission of certain language in the instructions
to the FDIC's amendatory text in Sec. 324.403 caused the unintended
deletion of Sec. 324.403(b)(2) through Sec. 324.403(d) as published
in the Code of Federal Regulations.
DATES: The correction is effective April 15, 2016.
FOR FURTHER INFORMATION CONTACT: Ryan Billingsley, Acting Associate
Director, rbillingsley@fdic.gov; or Benedetto Bosco, Chief, Capital
Policy Section, bbosco@fdic.gov; Capital Markets Branch, Division of
Risk Management Supervision, (202) 898-6888; or Michael Phillips,
Counsel, mphillips@fdic.gov; Rachel Ackmann, Counsel,
rackmann@fdic.gov; Supervision Branch, Legal Division, Federal Deposit
Insurance Corporation, 550 17th Street NW., Washington, DC 20429.
SUPPLEMENTARY INFORMATION: This document sets out in full the text of
section 324.403 as adopted by the FDIC Board of Directors, including
the revisions published in the Federal Register of July 15, 2015 (80 FR
41426) and the text inadvertently deleted in the Code of Federal
Regulations as 12 CFR 324.403.
List of Subjects in 12 CFR Part 324
Administrative practice and procedure, Banks, Banking, Capital
adequacy, Reporting and recordkeeping requirements, Savings
associations, State non-member banks.
12 CFR CHAPTER III
Authority and Issuance
For the reasons stated in the preamble, the Federal Deposit
Insurance Corporation amends part 324 of chapter III of Title 12, Code
of Federal Regulations as follows:
PART 324--CAPITAL ADEQUACY
0
1. The authority citation for part 324 continues to read as follows:
Authority: 12 U.S.C. 1815(a), 1815(b), 1816, 1818(a), 1818(b),
1818(c), 1818(t), 1819(Tenth), 1828(c), 1828(d), 1828(i), 1828(n),
1828(o), 1831o, 1835, 3907, 3909, 4808; 5371; 5412; Pub. L. 102-233,
105 Stat. 1761, 1789, 1790 (12 U.S.C. 1831n note); Pub. L. 102-242,
105 Stat. 2236, 2355, as amended by Pub. L. 103-325, 108 Stat. 2160,
2233 (12 U.S.C. 1828 note); Pub. L. 102-242, 105 Stat. 2236, 2386,
as amended by Pub. L. 102-550, 106 Stat. 3672, 4089 (12 U.S.C. 1828
note); Pub. L. 111-203, 124 Stat. 1376, 1887 (15 U.S.C. 78o-7 note).
0
2. Section 324.403 is revised to read as follows:
Sec. 324.403 Capital measures and capital category definitions.
(a) Capital measures. For purposes of section 38 of the FDI Act and
this subpart H, the relevant capital measures shall be:
(1) The total risk-based capital ratio;
(2) The Tier 1 risk-based capital ratio; and
(3) The common equity tier 1 ratio;
(4) The leverage ratio;
(5) The tangible equity to total assets ratio; and
(6) Beginning January 1, 2018, the supplementary leverage ratio
calculated in accordance with Sec. 324.11 for advanced approaches
FDIC-supervised institutions that are subject to subpart E of this
part.
(b) Capital categories. For purposes of section 38 of the FDI Act
and this subpart, an FDIC-supervised institution shall be deemed to be:
(1) ``Well capitalized'' if it:
(i) Has a total risk-based capital ratio of 10.0 percent or
greater; and
(ii) Has a Tier 1 risk-based capital ratio of 8.0 percent or
greater; and
(iii) Has a common equity tier 1 capital ratio of 6.5 percent or
greater; and
(iv) Has a leverage ratio of 5.0 percent or greater;
(v) Is not subject to any written agreement, order, capital
directive, or prompt corrective action directive issued by the FDIC
pursuant to section 8 of the FDI Act (12 U.S.C. 1818), the
International Lending Supervision Act of 1983 (12 U.S.C. 3907), or the
Home Owners' Loan Act (12 U.S.C. 1464(t)(6)(A)(ii)), or section 38 of
the FDI Act (12 U.S.C. 1831o), or any regulation thereunder, to meet
and maintain a specific capital level for any capital measure; and
(vi) Beginning on January 1, 2018 and thereafter, an FDIC-
supervised institution that is a subsidiary of a covered BHC will be
deemed to be well capitalized if the FDIC-supervised institution
satisfies paragraphs (b)(1)(i) through (v) of this section and has a
supplementary leverage ratio of 6.0 percent or greater. For purposes of
this paragraph, a covered BHC means a U.S. top-tier bank holding
company with more than $700 billion in total assets as reported on the
company's most recent Consolidated Financial Statement for Bank Holding
Companies (FR Y-9C) or more than $10 trillion in assets under custody
as reported on the company's most recent Banking Organization Systemic
Risk Report (FR Y-15).
(2) ``Adequately capitalized'' if it:
(i) Has a total risk-based capital ratio of 8.0 percent or greater;
and
(ii) Has a Tier 1 risk-based capital ratio of 6.0 percent or
greater; and
(iii) Has a common equity tier 1 capital ratio of 4.5 percent or
greater; and
(iv) Has a leverage ratio of 4.0 percent or greater; and
(v) Does not meet the definition of a well capitalized bank.
(vi) Beginning January 1, 2018, an advanced approaches FDIC-
supervised institution will be deemed to be ``adequately capitalized''
if it satisfies
[[Page 22174]]
paragraphs (b)(2)(i) through (v) of this section and has a
supplementary leverage ratio of 3.0 percent or greater, as calculated
in accordance with Sec. 324.11 of subpart B of this part.
(3) ``Undercapitalized'' if it:
(i) Has a total risk-based capital ratio that is less than 8.0
percent; or
(ii) Has a Tier 1 risk-based capital ratio that is less than 6.0
percent; or
(iii) Has a common equity tier 1 capital ratio that is less than
4.5 percent; or
(iv) Has a leverage ratio that is less than 4.0 percent.
(v) Beginning January 1, 2018, an advanced approaches FDIC-
supervised institution will be deemed to be ``undercapitalized'' if it
has a supplementary leverage ratio of less than 3.0 percent, as
calculated in accordance with Sec. 324.11.
(4) ``Significantly undercapitalized'' if it has:
(i) A total risk-based capital ratio that is less than 6.0 percent;
or
(ii) A Tier 1 risk-based capital ratio that is less than 4.0
percent; or
(iii) A common equity tier 1 capital ratio that is less than 3.0
percent; or
(iv) A leverage ratio that is less than 3.0 percent.
(5) ``Critically undercapitalized'' if the insured depository
institution has a ratio of tangible equity to total assets that is
equal to or less than 2.0 percent.
(c) Capital categories for insured branches of foreign banks. For
purposes of the provisions of section 38 of the FDI Act and this
subpart H, an insured branch of a foreign bank shall be deemed to be:
(1) ``Well capitalized'' if the insured branch:
(i) Maintains the pledge of assets required under Sec. 347.209 of
this chapter; and
(ii) Maintains the eligible assets prescribed under Sec. 347.210
of this chapter at 108 percent or more of the preceding quarter's
average book value of the insured branch's third-party liabilities; and
(iii) Has not received written notification from:
(A) The OCC to increase its capital equivalency deposit pursuant to
12 CFR 28.15, or to comply with asset maintenance requirements pursuant
to 12 CFR 28.20; or
(B) The FDIC to pledge additional assets pursuant to Sec. 347.209
of this chapter or to maintain a higher ratio of eligible assets
pursuant to Sec. 347.210 of this chapter.
(2) ``Adequately capitalized'' if the insured branch:
(i) Maintains the pledge of assets required under Sec. 347.209 of
this chapter; and
(ii) Maintains the eligible assets prescribed under Sec. 347.210
of this chapter at 106 percent or more of the preceding quarter's
average book value of the insured branch's third-party liabilities; and
(iii) Does not meet the definition of a well capitalized insured
branch.
(3) ``Undercapitalized'' if the insured branch:
(i) Fails to maintain the pledge of assets required under Sec.
347.209 of this chapter; or
(ii) Fails to maintain the eligible assets prescribed under Sec.
347.210 of this chapter at 106 percent or more of the preceding
quarter's average book value of the insured branch's third-party
liabilities.
(4) ``Significantly undercapitalized'' if it fails to maintain the
eligible assets prescribed under Sec. 347.210 of this chapter at 104
percent or more of the preceding quarter's average book value of the
insured branch's third-party liabilities.
(5) ``Critically undercapitalized'' if it fails to maintain the
eligible assets prescribed under Sec. 347.210 of this chapter at 102
percent or more of the preceding quarter's average book value of the
insured branch's third-party liabilities.
(d) Reclassifications based on supervisory criteria other than
capital. The FDIC may reclassify a well capitalized FDIC-supervised
institution as adequately capitalized and may require an adequately
capitalized FDIC-supervised institution or an undercapitalized FDIC-
supervised institution to comply with certain mandatory or
discretionary supervisory actions as if the FDIC-supervised institution
were in the next lower capital category (except that the FDIC may not
reclassify a significantly undercapitalized FDIC-supervised institution
as critically undercapitalized) (each of these actions are hereinafter
referred to generally as ``reclassifications'') in the following
circumstances:
(1) Unsafe or unsound condition. The FDIC has determined, after
notice and opportunity for hearing pursuant to Sec. 308.202(a) of this
chapter, that the FDIC-supervised institution is in unsafe or unsound
condition; or
(2) Unsafe or unsound practice. The FDIC has determined, after
notice and opportunity for hearing pursuant to Sec. 308.202(a) of this
chapter, that, in the most recent examination of the FDIC-supervised
institution, the FDIC-supervised institution received and has not
corrected a less-than-satisfactory rating for any of the categories of
asset quality, management, earnings, or liquidity.
Dated at Washington, DC, this 12th day of April, 2016.
By order of the Board of Directors.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016-08717 Filed 4-14-16; 8:45 am]
BILLING CODE 6714-01-P
