Policy Statement on Interagency Notification of Formal Enforcement Actions, 27371-27372 [2018-12556]

Download as PDF 27371 Federal Register / Vol. 83, No. 113 / Tuesday, June 12, 2018 / Notices discretion, and in any event by December 31, 2018. Executive Summary: This revised NOGA is published in connection with the CDFI Bond Guarantee Program, administered by the Community Development Financial Institutions Fund (CDFI Fund), the U.S. Department of the Treasury (Treasury). Through this NOGA, the CDFI Fund announces the availability of up to $500 million of Guarantee Authority in FY 2018. On November 2, 2017, the Community Development Financial Institutions Fund (CDFI Fund) announced the opportunity for the submission of Qualified Issuer Applications and Guarantee Applications for the CDFI Bond Guarantee Program (82 FR 50944). On January 18, 2018, the CDFI Fund published a revised NOGA extending the deadline for the submission of Guarantee Applications under the CDFI Bond Guarantee Program (83 FR 2724). This revised NOGA is re-opening the FY 2018 Application round of the CDFI Bond Guarantee Program with an application submission deadline of 11:59 p.m. EST on July 12, 2018 to provide interested parties with the opportunity to participate in the CDFI Bond Guarantee Program. The NOGA published on November 2, 2017, (82 FR 50944) explains application submission and evaluation requirements and processes. Parties interested in being approved for a Guarantee under the CDFI Bond Guarantee Program must submit Qualified Issuer Applications and Guarantee Applications for consideration in accordance with this NOGA. Capitalized terms used in this NOGA and not defined elsewhere are defined in the CDFI Bond Guarantee Program regulations (12 CFR 1808.102) and the CDFI Program Regulations (12 CFR 1805.104). All other information and requirements set forth in the NOGA published November 2, 2017, (82 FR 50944) as amended, shall remain effective, as published. I. Guarantee Opportunity Description A. Authority. The CDFI Bond Guarantee Program was authorized by the Small Business Jobs Act of 2010 (Pub. L. 111–240; 12 U.S.C. 4713a) (the Act). Section 1134 of the Act amended the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4701, et seq.) to provide authority to the Secretary of the Treasury (Secretary) to establish and administer the CDFI Bond Guarantee Program. B. Application Deadlines. In order to be considered for the issuance of a Guarantee under FY 2018 program authority, Qualified Issuer and Guarantee Applications must be submitted by 11:59 p.m. EST on July 12, 2018. If applicable, CDFI Certification Applications must be received by the CDFI Fund by 11:59 p.m. EST on July 12, 2018. II. Agency Contacts A. General information on questions and CDFI Fund support. The CDFI Fund will respond to questions and provide support concerning this revised NOGA and Qualified Issuer and Guarantee Applications between the hours of 9:00 a.m. and 5:00 p.m. ET, starting with the date of the publication of this revised NOGA. The final date to submit questions is [28 days after the publication of the NOGA]. Applications and other information regarding the CDFI Fund and its programs may be obtained from the CDFI Fund’s website at http://www.cdfifund.gov. The CDFI Fund will post on its website responses to questions of general applicability regarding the CDFI Bond Guarantee Program. B. The CDFI Fund’s contact information is as follows: CONTACT INFORMATION Telephone number (not toll free) Type of question sradovich on DSK3GMQ082PROD with NOTICES CDFI Bond Guarantee Program ..................................................................... CDFI Certification ........................................................................................... Compliance Monitoring and Evaluation .......................................................... Information Technology Support .................................................................... C. Communication with the CDFI Fund. The CDFI Fund will use the AMIS internet interface to communicate with applicants, Qualified Issuers, Program Administrators, Servicers, Certified CDFIs and Eligible CDFIs, using the contact information maintained in their respective AMIS accounts. Therefore, each such entity must maintain accurate contact information (including contact person and authorized representative, email addresses, fax numbers, phone numbers, and office addresses) in its respective AMIS account. For more information about AMIS, please see the AMIS Landing Page at https:// amis.cdfifund.gov. VerDate Sep<11>2014 16:21 Jun 11, 2018 Jkt 244001 (202) (202) (202) (202) 653–0421, Option 5 ................. 653–0423 ................................. 653–0423 ................................. 653–0422 ................................. Authority: Pub. L. 111–240; 12 U.S.C. 4701, et seq.; 12 CFR part 1808; 12 CFR part 1805; 12 CFR part 1815. Mary Ann Donovan, Director, Community Development Financial Institutions Fund. [FR Doc. 2018–12605 Filed 6–11–18; 8:45 am] Email addresses bgp@cdfi.treas.gov. ccme@cdfi.treas.gov. ccme@cdfi.treas.gov. AMIS@cdfi.treas.gov. DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency [Docket ID OCC–2018–0012] FEDERAL RESERVE SYSTEM BILLING CODE 4810–70–P PO 00000 [Docket No. OP–1609] FEDERAL DEPOSIT INSURANCE CORPORATION Policy Statement on Interagency Notification of Formal Enforcement Actions Board of Governors of the Federal Reserve System (Board); Federal Deposit Insurance Corporation (FDIC); and Office of the Comptroller of the Currency (OCC), Treasury. ACTION: Notice of policy statement. AGENCIES: Frm 00065 Fmt 4703 Sfmt 4703 E:\FR\FM\12JNN1.SGM 12JNN1 27372 Federal Register / Vol. 83, No. 113 / Tuesday, June 12, 2018 / Notices The Federal Financial Institutions Examination Council has rescinded its Revised Policy Statement on ‘‘Interagency Coordination of Formal Corrective Action by the Federal Bank Regulatory Agencies’’ dated February 20, 1997. To assure onging coordination, the Board, the FDIC, and the OCC (collectively, ‘‘the Federal Banking Agencies’’ or ‘‘FBAs’’) are issuing this policy statement concerning Federal Banking Agency coordination of formal corrective action. DATES: Applicable on June 12, 2018. FOR FURTHER INFORMATION CONTACT: OCC: Jessica Burrell, Counsel, Enforcement and Compliance, (202– 649–6200); William Jacquet, Assistant Director, Enforcement and Compliance, (202–649–6200). For the hearing impaired, TTY (202) 649–5597. Board: Jason Gonzalez, Special Counsel, Legal Division, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551. For the hearing impaired or users of Telecommunication Device for Deaf (TDD) only, call (202) 263–4869. FDIC: Sam Ozeck, Legal Division (202) 898–6736; George Parkerson, Division of Risk Management Supervision, (202) 898–3648. SUPPLEMENTARY INFORMATION: The Federal Banking Agencies are issuing this policy statement concerning their coordination of formal corrective action. The text of the policy statement is as follows: SUMMARY: sradovich on DSK3GMQ082PROD with NOTICES Policy Statement on Interagency Notification of Formal Enforcement Actions The FBAs are issuing this policy statement to promote notification of, and coordination on, formal enforcement actions among the FBAs at the earliest practicable date. This statement replaces the existing policy statement 1 to incorporate and reflect current practices and is not intended as a substitute for informal communication that routinely occurs among the FBAs in advance of an enforcement action, including verbal notification of pending enforcement matters to officials and staff with supervisory and enforcement responsibility for the affected institution. When an FBA determines it will take a formal enforcement action against any federally insured depository institution, depository institution holding company, non-bank affiliate, or institutionaffiliated party, it should evaluate whether the enforcement action 1 See involves the interests of another FBA. Examples of such interests include unsafe or unsound practices or significant violations of law by an insured depository institution, non-bank affiliate, or depository institution holding company or misconduct by an institution-affiliated party that may have significant connections with an institution regulated by another FBA. If it is determined that one or more other FBAs have an interest in the enforcement action, the FBA proposing the enforcement action should notify the other FBA(s). Notification should be provided at the earlier of the FBA’s written notification to the federally insured depository institution, depository institution holding company, non-bank affiliate, or institutionaffiliated party against which the FBA is considering an enforcement action or when the appropriate responsible agency official, or group of officials, determines that formal enforcement action is expected to be taken. The scope of the information shared by the notification may depend on the gravity of the interests of the other FBA(s) and be determined on a case-bycase basis by the FBA providing the notification. The information shared, however, should be appropriate to allow the other FBA(s) to take necessary action in examining or investigating the financial institution or institutionaffiliated party over which they have jurisdiction. If two or more FBAs consider bringing a complementary action (e.g., action involving a bank and its parent holding company), those FBAs should coordinate the preparation, processing, presentation, potential penalties, service, and follow-up of the enforcement action. Dated: June 6, 2018. Joseph M. Otting, Comptroller of the Currency. By order of the Board of Governors of the Federal Reserve System, June 4, 2018. Anne E. Misback, Secretary of the Board. Dated at Washington, DC, this day of March 20, 2018. Federal Deposit Insurance Corporation. Valerie J. Best, Assistant Executive Secretary. [FR Doc. 2018–12556 Filed 6–11–18; 8:45 am] BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P 62 FR 7782 (Feb. 20, 1997). VerDate Sep<11>2014 16:21 Jun 11, 2018 Jkt 244001 PO 00000 Frm 00066 Fmt 4703 Sfmt 4703 DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedure 2003–33 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: The Internal Revenue Service (IRS), as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Section 9100 Relief for 338 Elections. DATES: Written comments should be received on or before August 13, 2018 to be assured of consideration. ADDRESSES: Direct all written comments to Laurie Brimmer, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224. FOR FURTHER INFORMATION: Requests for additional information or copies of the Rev. Proc. should be directed to Martha R. Brinson, at (202) 317–5753, or at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet at Martha.R.Brinson@irs.gov. SUPPLEMENTARY INFORMATION: Title: Section 9100 Relief for 338 Elections. OMB Number: 1545–1820. Rev. Proc. Number: 2003–33. Abstract: Revenue Procedure 2003–33 provides qualifying taxpayers with an extension of time pursuant to § 301.9100–3 of the Procedure and Administration Regulations to file an election described in § 338(a) or § 338(h)(10) of the Internal Revenue Code to treat the purchase of the stock of a corporation as an asset acquisition. Current Actions: There are no changes being made to the Rev. Proc. at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, and individuals or households. Estimated Number of Responses: 60. Estimated Time per Respondent: 5 hours. Estimated Total Annual Burden Hours: 300. The following paragraph applies to all of the collections of information covered by this notice: An agency may not conduct or sponsor, and a person is not required to SUMMARY: E:\FR\FM\12JNN1.SGM 12JNN1

Agencies

[Federal Register Volume 83, Number 113 (Tuesday, June 12, 2018)]
[Notices]
[Pages 27371-27372]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-12556]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

[Docket ID OCC-2018-0012]

FEDERAL RESERVE SYSTEM

[Docket No. OP-1609]

FEDERAL DEPOSIT INSURANCE CORPORATION


Policy Statement on Interagency Notification of Formal 
Enforcement Actions

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

ACTION: Notice of policy statement.

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[[Page 27372]]

SUMMARY: The Federal Financial Institutions Examination Council has 
rescinded its Revised Policy Statement on ``Interagency Coordination of 
Formal Corrective Action by the Federal Bank Regulatory Agencies'' 
dated February 20, 1997. To assure onging coordination, the Board, the 
FDIC, and the OCC (collectively, ``the Federal Banking Agencies'' or 
``FBAs'') are issuing this policy statement concerning Federal Banking 
Agency coordination of formal corrective action.

DATES: Applicable on June 12, 2018.

FOR FURTHER INFORMATION CONTACT: 
    OCC: Jessica Burrell, Counsel, Enforcement and Compliance, (202-
649-6200); William Jacquet, Assistant Director, Enforcement and 
Compliance, (202-649-6200). For the hearing impaired, TTY (202) 649-
5597.
    Board: Jason Gonzalez, Special Counsel, Legal Division, Board of 
Governors of the Federal Reserve System, 20th Street and Constitution 
Avenue NW, Washington, DC 20551. For the hearing impaired or users of 
Telecommunication Device for Deaf (TDD) only, call (202) 263-4869.
    FDIC: Sam Ozeck, Legal Division (202) 898-6736; George Parkerson, 
Division of Risk Management Supervision, (202) 898-3648.

SUPPLEMENTARY INFORMATION: The Federal Banking Agencies are issuing 
this policy statement concerning their coordination of formal 
corrective action.
    The text of the policy statement is as follows:

Policy Statement on Interagency Notification of Formal Enforcement 
Actions

    The FBAs are issuing this policy statement to promote notification 
of, and coordination on, formal enforcement actions among the FBAs at 
the earliest practicable date. This statement replaces the existing 
policy statement \1\ to incorporate and reflect current practices and 
is not intended as a substitute for informal communication that 
routinely occurs among the FBAs in advance of an enforcement action, 
including verbal notification of pending enforcement matters to 
officials and staff with supervisory and enforcement responsibility for 
the affected institution.
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    \1\ See 62 FR 7782 (Feb. 20, 1997).
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    When an FBA determines it will take a formal enforcement action 
against any federally insured depository institution, depository 
institution holding company, non-bank affiliate, or institution-
affiliated party, it should evaluate whether the enforcement action 
involves the interests of another FBA. Examples of such interests 
include unsafe or unsound practices or significant violations of law by 
an insured depository institution, non-bank affiliate, or depository 
institution holding company or misconduct by an institution-affiliated 
party that may have significant connections with an institution 
regulated by another FBA.
    If it is determined that one or more other FBAs have an interest in 
the enforcement action, the FBA proposing the enforcement action should 
notify the other FBA(s). Notification should be provided at the earlier 
of the FBA's written notification to the federally insured depository 
institution, depository institution holding company, non-bank 
affiliate, or institution-affiliated party against which the FBA is 
considering an enforcement action or when the appropriate responsible 
agency official, or group of officials, determines that formal 
enforcement action is expected to be taken.
    The scope of the information shared by the notification may depend 
on the gravity of the interests of the other FBA(s) and be determined 
on a case-by-case basis by the FBA providing the notification. The 
information shared, however, should be appropriate to allow the other 
FBA(s) to take necessary action in examining or investigating the 
financial institution or institution-affiliated party over which they 
have jurisdiction.
    If two or more FBAs consider bringing a complementary action (e.g., 
action involving a bank and its parent holding company), those FBAs 
should coordinate the preparation, processing, presentation, potential 
penalties, service, and follow-up of the enforcement action.

    Dated: June 6, 2018.
Joseph M. Otting,
Comptroller of the Currency.
    By order of the Board of Governors of the Federal Reserve 
System, June 4, 2018.
Anne E. Misback,
Secretary of the Board.
    Dated at Washington, DC, this day of March 20, 2018.

Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. 2018-12556 Filed 6-11-18; 8:45 am]
 BILLING CODE 4810-33-P; 6210-01-P; 6714-01-P