Supplemental Lending Limits Program: Technical Correction, 61809-61811 [2020-18937]

Download as PDF Federal Register / Vol. 85, No. 191 / Thursday, October 1, 2020 / Rules and Regulations regulations will end with promulgation of the rule. It is possible that without the PSB program, human-assisted dispersal of PSB would have occurred more rapidly and extended to areas that are not yet infested; the impact of the rule on pine populations in natural and urban environments within and outside currently quarantined areas—and on businesses that grow, use, or process pine products—is indeterminate. Still, PSB has caused negligible direct damage despite having spread widely, and compliance costs that will no longer be incurred under the rule are minimal. Based on this information, the APHIS Administrator has determined that this action will not have a significant economic impact on a substantial number of small entities. Executive Order 12372 This program/activity is listed in the Catalog of Federal Domestic Assistance under No. 10.025 and is subject to Executive Order 12372, which requires intergovernmental consultation with State and local officials. (See 2 CFR chapter IV.) Executive Order 12988 This final rule has been reviewed under Executive Order 12988, Civil Justice Reform. This rule: (1) Preempts all State and local laws and regulations that are inconsistent with this rule; (2) has no retroactive effect; and (3) does not require administrative proceedings before parties may file suit in court challenging this rule. Congressional Review Act Pursuant to the Congressional Review Act (5 U.S.C. 801 et seq.), the Office of Information and Regulatory Affairs designated this rule as not a major rule, as defined by 5U.S.C. 804(2). Paperwork Reduction Act This final rule contains no reporting or recordkeeping requirements under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.). List of Subjects jbell on DSKJLSW7X2PROD with RULES Jkt 253001 Authority: 7 U.S.C. 7701–7772 and 7781– 7786; 7 CFR 2.22, 2.80, and 371.3. Section 301.75–15 issued under Sec. 204, Title II, Public Law 106–113, 113 Stat. 1501A–293; sections 301.75–15 and 301.75– 16 issued under Sec. 203, Title II, Public Law 106–224, 114 Stat. 400 (7 U.S.C. 1421 note). Subpart G [Removed and Reserved] 2. Subpart G, consisting of §§ 301.50 through 301.50–10, is removed and reserved. ■ PART 319—FOREIGN QUARANTINE NOTICES 3. The authority citation for part 319 continues to read as follows: ■ Authority: 7 U.S.C. 1633, 7701–7772, and 7781–7786; 21 U.S.C. 136 and 136a; 7 CFR 2.22, 2.80, and 371.3. § 319.40–3 [Amended] 4. Section 319.40–3 is amended by: a. In paragraph (a)(1)(i)(A), removing ‘‘, and;’’ and adding ‘‘; and’’ in its place; ■ b. Removing paragraph (a)(1)(i)(B); and ■ c. Redesignating paragraph (a)(1)(i)(C) as (a)(1)(i)(B). ■ ■ § 319.40–5 [Amended] 5. Section 319.40–5 is amended by removing and reserving paragraph (m). ■ Done in Washington, DC, this 24th day of September 2020. Michael Watson, Acting Administrator, Animal and Plant Health Inspection Service. [FR Doc. 2020–21800 Filed 9–30–20; 8:45 am] BILLING CODE 3410–34–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency [Docket ID OCC–2018–0041] RIN 1557–AE21 7 CFR Part 319 Coffee, Cotton, Fruits, Imports, Logs, Nursery stock, Plant diseases and pests, Quarantine, Reporting and recordkeeping requirements, Rice, Vegetables. Accordingly, we are amending 7 CFR parts 301 and 319 as follows: 21:58 Sep 30, 2020 1. The authority citation for part 301 continues to read as follows: ■ 12 CFR Part 32 7 CFR Part 301 Agricultural commodities, Plant diseases and pests, Quarantine, Reporting and recordkeeping requirements, Transportation. VerDate Sep<11>2014 PART 301—DOMESTIC QUARANTINE NOTICES Supplemental Lending Limits Program: Technical Correction Office of the Comptroller of the Currency (OCC), Treasury. ACTION: Correcting amendment. AGENCY: On July 14, 2020, the Office of the Comptroller of the Currency (OCC) published in the Federal Register SUMMARY: PO 00000 Frm 00005 Fmt 4700 Sfmt 4700 61809 a final rule that, among other revisions, made technical changes to the OCC’s supplemental lending limits rule. This correcting amendment makes a correction to those regulations by reinstating two paragraphs to the lending limits rules that were inadvertently deleted. DATES: This rule is effective on October 1, 2020. FOR FURTHER INFORMATION CONTACT: Marta E. Stewart-Bates, Senior Attorney, Chief Counsel’s Office, (202) 649–5490, for persons who are deaf or hearing impaired, TTY, (202) 649–5597, Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219. SUPPLEMENTARY INFORMATION: I. Background and Description of Correcting Amendment On July 14, 2020, the OCC published in the Federal Register a final rule 1 that made technical changes to the OCC’s supplemental lending limits rules, among other revisions. Specifically, the terms ‘‘small business loans’’ and ‘‘small farm loans or extensions of credit’’ were replaced with the terms ‘‘loans to small businesses’’ and ‘‘loans or extensions of credit to small farms,’’ respectively, to conform with the Call Report instructions. These technical changes were made to the supplemental lending limits rules in §§ 32.7(a)(1), 32.7(a)(2), and 32.7(d). However, §§ 32.7(a)(4) and (a)(5) were inadvertently deleted by the final rule. This correcting amendment reinstates §§ 32.7(a)(4) and (a)(5). II. Administrative Law Matters A. Administrative Procedure Act The OCC is issuing this correcting amendment without prior notice and the opportunity for public comment and the delayed effective date ordinarily prescribed by the Administrative Procedure Act (APA).2 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 impracticable, unnecessary, or contrary to the public interest.’’ 3 The OCC finds that public notice and comment are unnecessary because this correcting amendment makes a technical change to correct an erroneous removal of two paragraphs in the 1 85 FR 42630. U.S.C. 553. 3 5 U.S.C. 553(b)(3)(A). 25 E:\FR\FM\01OCR1.SGM 01OCR1 61810 Federal Register / Vol. 85, No. 191 / Thursday, October 1, 2020 / Rules and Regulations supplemental lending limits rule. Therefore, there is good cause to dispense with the APA prior notice and public comment process. 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.4 As described above, there is good cause to issue this correcting amendment without a delayed effective date. Therefore, this correcting amendment is exempt from the APA’s delayed effective date requirement.5 B. Congressional Review Act jbell on DSKJLSW7X2PROD with RULES For purposes of the Congressional Review Act, the Office of Management and Budget (OMB) makes a determination as to whether a final rule constitutes a ‘‘major rule.’’ 6 If a rule is deemed a ‘‘major rule’’ by the OMB, the Congressional Review Act generally provides that the rule may not take effect until at least 60 days following its publication.7 The Congressional Review Act defines a ‘‘major rule’’ as any rule that the Administrator of the Office of Information and Regulatory Affairs of the OMB finds has resulted in or is likely to result in: (1) An annual effect on the economy of $100,000,000 or more; (2) a major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies, or geographic regions; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of United States-based enterprises to compete with foreignbased enterprises in domestic and export markets.8 The delayed effective date required by the Congressional Review Act does not apply to ‘‘any rule which an agency for good cause finds (and incorporates the finding and a brief statement of reasons therefor in the rule issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest.’’ 9 For the same reasons set forth above, the OCC finds that it has good cause to adopt this correcting amendment without the delayed effective date generally prescribed under the Congressional Review Act. As required by the 45 U.S.C. 553(d). U.S.C. 553(d)(1). 6 5 U.S.C. 801 et seq. 7 5 U.S.C. 801(a)(3). 8 5 U.S.C. 804(2). 9 5 U.S.C. 808(2). 55 VerDate Sep<11>2014 21:58 Sep 30, 2020 Jkt 253001 Congressional Review Act, the OCC will submit the correcting amendment and other appropriate reports to Congress and the Government Accountability Office for review. rulemaking. Accordingly, the OCC has concluded that the RFA’s requirements relating to initial and final regulatory flexibility analysis do not apply. C. Riegle Community Development and Regulatory Improvement Act of 1994 Pursuant to section 302(a) of the Riegle Community Development and Regulatory Improvement Act (RCDRIA),10 in determining the effective date and administrative compliance requirements for new regulations that impose additional reporting, disclosure, or other requirements on insured depository institutions (IDIs), each Federal banking agency must consider, consistent with the principle of safety and soundness and the public interest, any administrative burdens that such regulations would place on depository institutions, including small depository institutions, and customers of depository institutions, as well as the benefits of such regulations. In addition, section 302(b) of RCDRIA requires new regulations and amendments to regulations that impose additional reporting, disclosures, or other new requirements on IDIs generally 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.11 For the reasons described above, the OCC finds good cause exists under section 302 of RCDRIA to publish this correcting amendment with an immediate effective date. As such, the correcting amendment will be effective immediately. As a general matter, the Unfunded Mandates Act of 1995 (UMRA) 14 requires the preparation of a budgetary impact statement before promulgating a rule that includes a Federal mandate that may result in the expenditure by State, local, and tribal governments, in the aggregate, or by the private sector, of $100 million or more in any one year. However, the UMRA does not apply to final rules for which a general notice of proposed rulemaking was not published.15 Therefore, because the OCC has found good cause to dispense with notice and comment for this correcting amendment, the OCC has not prepared an economic analysis of the rule under the UMRA. D. Regulatory Flexibility Act The Regulatory Flexibility Act (RFA) 12 requires an agency to consider whether the rules it proposes will have a significant economic impact on a substantial number of small entities.13 The RFA 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 previously, consistent with section 553(b)(B) of the APA, the OCC has determined for good cause that general notice and opportunity for public comment is unnecessary, and, therefore, the OCC is not issuing a notice of proposed 10 12 U.S.C. 4802(a). U.S.C. 4802. 12 5 U.S.C. 601 et seq. 13 Under regulations issued by the Small Business Administration, a small entity includes a depository institution, bank holding company, or savings and loan holding company with total assets of $600 million or less and trust companies with total assets of $41.5 million or less. See 13 CFR 121.201. 11 12 PO 00000 Frm 00006 Fmt 4700 Sfmt 4700 E. Unfunded Mandates List of Subjects in 12 CFR Part 32 National banks, Reporting and recordkeeping requirements. For the reasons set out in the preamble, the OCC corrects 12 CFR part 32 by making the following correcting amendment: PART 32—LENDING LIMITS 1. The authority citation for part 32 continues to read as follows: ■ Authority: 12 U.S.C. 1 et seq., 12 U.S.C. 84, 93a, 1462a, 1463, 1464(u), 5412(b)(2)(B), and 15 U.S.C. 1639h. 2. Section 32.7 is amended by adding paragraphs (a)(4) and (5) to read as follows: ■ § 32.7 Residential real estate loans, loans to small businesses, and loans or extensions of credit to small farms (‘‘Supplemental Lending Limits Program’’). (a) * * * (4) The total outstanding amount of a national bank’s or savings association’s loans and extensions of credit to one borrower made under § 32.3(a) and (b), together with loans and extensions of credit to the borrower made pursuant to paragraphs (a)(1), (2), and (3) of this section, shall not exceed 25 percent of the bank’s or savings association’s capital and surplus. (5) The total outstanding amount of a national bank’s or savings association’s loans and extensions of credit to all of its borrowers made pursuant to the supplemental lending limits provided in paragraphs (a)(1), (2), and (3) of this section may not exceed 100 percent of 14 2 U.S.C. 1531 et seq. 2 U.S.C. 1532(a). 15 See E:\FR\FM\01OCR1.SGM 01OCR1 Federal Register / Vol. 85, No. 191 / Thursday, October 1, 2020 / Rules and Regulations the bank’s or saving association’s capital and surplus. * * * * * DEPARTMENT OF TRANSPORTATION Jonathan V. Gould, Senior Deputy Comptroller and Chief Counsel. 14 CFR Part 39 [Docket No. FAA–2020–0443; Project Identifier AD–2020–00178–E; Amendment 39–21268; AD 2020–20–12] [FR Doc. 2020–18937 Filed 9–30–20; 8:45 am] BILLING CODE 4810–33–P RIN 2120–AA64 Airworthiness Directives; General Electric Company Turbofan Engines FARM CREDIT ADMINISTRATION Federal Aviation Administration (FAA), DOT. ACTION: Final rule. AGENCY: 12 CFR Part 624 RIN 3052–AD43 Farm Credit Administration. Interim final rule; correction. AGENCY: The Farm Credit Administration is correcting a final rule that was published in the Federal Register on July 1, 2020.The Farm Credit Administration (FCA), along with the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Federal Housing Finance Agency published an interim final rule amending regulations that require swap dealers, securitybased swap dealers, major swap participants, and major security-based swap participants under the Agencies’ respective jurisdictions to exchange margin with their counterparties for swaps that are not centrally cleared (non-cleared swaps) (Swap Margin Rule). In that publication, the Regulatory Identification Number (RIN) for the FCA was incorrect. This document corrects that error. DATES: Effective October 1, 2020. FOR FURTHER INFORMATION CONTACT: Richard A. Katz, Senior Counsel, Office of General Counsel, (703) 883–4020, TTY (703) 883–4056, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 22102–5090. SUPPLEMENTARY INFORMATION: In FR Doc. 2020–14094, ‘‘Margin and Capital Requirements for Covered Swap Entities’’ that published in the Federal Register on Wednesday, July 1, 2020 at 85 FR 39464, in the second column on page 39464, correct the RIN to read 3052–AD43. jbell on DSKJLSW7X2PROD with RULES SUMMARY: Dated: September 1, 2020. Dale Aultman, Secretary, Farm Credit Administration Board. [FR Doc. 2020–19712 Filed 9–30–20; 8:45 am] BILLING CODE 6705–01–P VerDate Sep<11>2014 21:58 Sep 30, 2020 Jkt 253001 The FAA is adopting a new airworthiness directive (AD) for all General Electric Company (GE) GEnx– 1B64, –1B64/P1, –1B64/P2, –1B67, –1B67/P1, –1B67P2, –1B70, –1B70/75/ P1, –1B70/75/P2, –1B70/P1, –1B70/P2, –1B70C/P1, –1B70C/P2, –1B74/75/P1, –1B74/75/P2, –1B76/P2, and –1B76A/ P2 model turbofan engines. This AD was prompted by reports of combustor case burn-through. This AD requires installation of electronic engine control (EEC) software, version B205 or later. The FAA is issuing this AD to address the unsafe condition on these products. DATES: This AD is effective November 5, 2020. ADDRESSES: For service information identified in this final rule, contact General Electric Company, 1 Neumann Way, Cincinnati, OH 45215; phone: 513–552–3272; email: aviation.fleetsupport@ae.ge.com; website: www.ge.com. You may view this service information at the FAA, Airworthiness Products Section, Operational Safety Branch, 1200 District Avenue, Burlington, MA 01803. For information on the availability of this material at the FAA, call 781–238–7759. It is also available on the internet at https://www.regulations.gov by searching for and locating Docket No. FAA–2020–0443. SUMMARY: Margin and Capital Requirements for Covered Swap Entities; Correction ACTION: Federal Aviation Administration 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–2020– 0443; or in person at Docket Operations between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. The AD docket contains this final rule, any comments received, and other information. The address for Docket Operations is U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue SE, Washington, DC 20590. PO 00000 Frm 00007 Fmt 4700 Sfmt 4700 61811 FOR FURTHER INFORMATION CONTACT: Mehdi Lamnyi, Aerospace Engineer, ECO Branch, FAA, 1200 District Avenue, Burlington, MA 01803; phone: 781–238–7743; fax: 781–238–7199; email: Mehdi.Lamnyi@faa.gov. SUPPLEMENTARY INFORMATION: Background The FAA issued a notice of proposed rulemaking (NPRM) to amend 14 CFR part 39 by adding an AD that would apply to all GE GEnx–1B64, –1B64/P1, –1B64/P2, –1B67, –1B67/P1, –1B67P2, –1B70, –1B70/75/P1, –1B70/75/P2, –1B70/P1, –1B70/P2, –1B70C/P1, –1B70C/P2, –1B74/75/P1, –1B74/75/P2, –1B76/P2, and –1B76A/P2 model turbofan engines. The NPRM published in the Federal Register on May 6, 2020 (85 FR 26891). The NPRM was prompted by reports of combustor case burn-through. The NPRM proposed to require installation of EEC software, version B205 or later. The FAA is issuing this AD to address the unsafe condition on these products. Comments The FAA gave the public the opportunity to participate in developing this final rule. The following presents the comments received on the NPRM and the FAA’s response to each comment. Request To Supersede Existing AD American Airlines (AAL) suggested that the FAA change this AD to supersede docket number FAA–2019– 0683, project identifier 2015–NE–02–AD (84 FR 63820, November 19, 2019) (‘‘NPRM 2015–NE–02–AD’’). NPRM 2015–NE–02–AD proposed removing EEC software version B195 and earlier from GEnx-1B engines, along with an equivalent EEC software for GEnx–2B engines to improve safeguards against ice crystal icing. EEC software version B205 incorporates all required changes that satisfy the intent of NPRM 2015– NE–02. The FAA disagrees. The unsafe condition addressed by this AD was prompted by reports of combustor case burn-through. In contrast, the final rule to NPRM 2015–NE–02–AD, AD 2020– 13–04, Amendment 39–21149 (85 FR 37000, June 19, 2020) (‘‘AD 2020–13– 04’’) was prompted by power loss in ice crystal icing conditions. Although the ice crystal icing required actions of AD 2020–13–04 are achieved through the update to EEC software version B205, the unsafe conditions that prompted each AD are different, and the corrective actions are independent. Further, AD 2020–13–04 affects more GEnx model turbofan engines than this AD. E:\FR\FM\01OCR1.SGM 01OCR1

Agencies

[Federal Register Volume 85, Number 191 (Thursday, October 1, 2020)]
[Rules and Regulations]
[Pages 61809-61811]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-18937]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

12 CFR Part 32

[Docket ID OCC-2018-0041]
RIN 1557-AE21


Supplemental Lending Limits Program: Technical Correction

AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.

ACTION: Correcting amendment.

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

SUMMARY: On July 14, 2020, the Office of the Comptroller of the 
Currency (OCC) published in the Federal Register a final rule that, 
among other revisions, made technical changes to the OCC's supplemental 
lending limits rule. This correcting amendment makes a correction to 
those regulations by reinstating two paragraphs to the lending limits 
rules that were inadvertently deleted.

DATES: This rule is effective on October 1, 2020.

FOR FURTHER INFORMATION CONTACT: Marta E. Stewart-Bates, Senior 
Attorney, Chief Counsel's Office, (202) 649-5490, for persons who are 
deaf or hearing impaired, TTY, (202) 649-5597, Office of the 
Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219.

SUPPLEMENTARY INFORMATION:

I. Background and Description of Correcting Amendment

    On July 14, 2020, the OCC published in the Federal Register a final 
rule \1\ that made technical changes to the OCC's supplemental lending 
limits rules, among other revisions. Specifically, the terms ``small 
business loans'' and ``small farm loans or extensions of credit'' were 
replaced with the terms ``loans to small businesses'' and ``loans or 
extensions of credit to small farms,'' respectively, to conform with 
the Call Report instructions. These technical changes were made to the 
supplemental lending limits rules in Sec. Sec.  32.7(a)(1), 32.7(a)(2), 
and 32.7(d). However, Sec. Sec.  32.7(a)(4) and (a)(5) were 
inadvertently deleted by the final rule. This correcting amendment 
reinstates Sec. Sec.  32.7(a)(4) and (a)(5).
---------------------------------------------------------------------------

    \1\ 85 FR 42630.
---------------------------------------------------------------------------

II. Administrative Law Matters

A. Administrative Procedure Act

    The OCC is issuing this correcting amendment without prior notice 
and the opportunity for public comment and the delayed effective date 
ordinarily prescribed by the Administrative Procedure Act (APA).\2\ 
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 impracticable, 
unnecessary, or contrary to the public interest.'' \3\
---------------------------------------------------------------------------

    \2\ 5 U.S.C. 553.
    \3\ 5 U.S.C. 553(b)(3)(A).
---------------------------------------------------------------------------

    The OCC finds that public notice and comment are unnecessary 
because this correcting amendment makes a technical change to correct 
an erroneous removal of two paragraphs in the

[[Page 61810]]

supplemental lending limits rule. Therefore, there is good cause to 
dispense with the APA prior notice and public comment process.
    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.\4\ As described 
above, there is good cause to issue this correcting amendment without a 
delayed effective date. Therefore, this correcting amendment is exempt 
from the APA's delayed effective date requirement.\5\
---------------------------------------------------------------------------

    \4\ 5 U.S.C. 553(d).
    \5\ 5 U.S.C. 553(d)(1).
---------------------------------------------------------------------------

B. Congressional Review Act

    For purposes of the Congressional Review Act, the Office of 
Management and Budget (OMB) makes a determination as to whether a final 
rule constitutes a ``major rule.'' \6\ If a rule is deemed a ``major 
rule'' by the OMB, the Congressional Review Act generally provides that 
the rule may not take effect until at least 60 days following its 
publication.\7\
---------------------------------------------------------------------------

    \6\ 5 U.S.C. 801 et seq.
    \7\ 5 U.S.C. 801(a)(3).
---------------------------------------------------------------------------

    The Congressional Review Act defines a ``major rule'' as any rule 
that the Administrator of the Office of Information and Regulatory 
Affairs of the OMB finds has resulted in or is likely to result in: (1) 
An annual effect on the economy of $100,000,000 or more; (2) a major 
increase in costs or prices for consumers, individual industries, 
Federal, State, or local government agencies, or geographic regions; or 
(3) significant adverse effects on competition, employment, investment, 
productivity, innovation, or on the ability of United States-based 
enterprises to compete with foreign-based enterprises in domestic and 
export markets.\8\
---------------------------------------------------------------------------

    \8\ 5 U.S.C. 804(2).
---------------------------------------------------------------------------

    The delayed effective date required by the Congressional Review Act 
does not apply to ``any rule which an agency for good cause finds (and 
incorporates the finding and a brief statement of reasons therefor in 
the rule issued) that notice and public procedure thereon are 
impracticable, unnecessary, or contrary to the public interest.'' \9\ 
For the same reasons set forth above, the OCC finds that it has good 
cause to adopt this correcting amendment without the delayed effective 
date generally prescribed under the Congressional Review Act. As 
required by the Congressional Review Act, the OCC will submit the 
correcting amendment and other appropriate reports to Congress and the 
Government Accountability Office for review.
---------------------------------------------------------------------------

    \9\ 5 U.S.C. 808(2).
---------------------------------------------------------------------------

C. Riegle Community Development and Regulatory Improvement Act of 1994

    Pursuant to section 302(a) of the Riegle Community Development and 
Regulatory Improvement Act (RCDRIA),\10\ in determining the effective 
date and administrative compliance requirements for new regulations 
that impose additional reporting, disclosure, or other requirements on 
insured depository institutions (IDIs), each Federal banking agency 
must consider, consistent with the principle of safety and soundness 
and the public interest, any administrative burdens that such 
regulations would place on depository institutions, including small 
depository institutions, and customers of depository institutions, as 
well as the benefits of such regulations. In addition, section 302(b) 
of RCDRIA requires new regulations and amendments to regulations that 
impose additional reporting, disclosures, or other new requirements on 
IDIs generally 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.\11\ 
For the reasons described above, the OCC finds good cause exists under 
section 302 of RCDRIA to publish this correcting amendment with an 
immediate effective date. As such, the correcting amendment will be 
effective immediately.
---------------------------------------------------------------------------

    \10\ 12 U.S.C. 4802(a).
    \11\ 12 U.S.C. 4802.
---------------------------------------------------------------------------

D. Regulatory Flexibility Act

    The Regulatory Flexibility Act (RFA) \12\ requires an agency to 
consider whether the rules it proposes will have a significant economic 
impact on a substantial number of small entities.\13\ The RFA 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 
previously, consistent with section 553(b)(B) of the APA, the OCC has 
determined for good cause that general notice and opportunity for 
public comment is unnecessary, and, therefore, the OCC is not issuing a 
notice of proposed rulemaking. Accordingly, the OCC has concluded that 
the RFA's requirements relating to initial and final regulatory 
flexibility analysis do not apply.
---------------------------------------------------------------------------

    \12\ 5 U.S.C. 601 et seq.
    \13\ Under regulations issued by the Small Business 
Administration, a small entity includes a depository institution, 
bank holding company, or savings and loan holding company with total 
assets of $600 million or less and trust companies with total assets 
of $41.5 million or less. See 13 CFR 121.201.
---------------------------------------------------------------------------

E. Unfunded Mandates

    As a general matter, the Unfunded Mandates Act of 1995 (UMRA) \14\ 
requires the preparation of a budgetary impact statement before 
promulgating a rule that includes a Federal mandate that may result in 
the expenditure by State, local, and tribal governments, in the 
aggregate, or by the private sector, of $100 million or more in any one 
year. However, the UMRA does not apply to final rules for which a 
general notice of proposed rulemaking was not published.\15\ Therefore, 
because the OCC has found good cause to dispense with notice and 
comment for this correcting amendment, the OCC has not prepared an 
economic analysis of the rule under the UMRA.
---------------------------------------------------------------------------

    \14\ 2 U.S.C. 1531 et seq.
    \15\ See 2 U.S.C. 1532(a).
---------------------------------------------------------------------------

List of Subjects in 12 CFR Part 32

    National banks, Reporting and recordkeeping requirements.

    For the reasons set out in the preamble, the OCC corrects 12 CFR 
part 32 by making the following correcting amendment:

PART 32--LENDING LIMITS

0
1. The authority citation for part 32 continues to read as follows:

    Authority: 12 U.S.C. 1 et seq., 12 U.S.C. 84, 93a, 1462a, 1463, 
1464(u), 5412(b)(2)(B), and 15 U.S.C. 1639h.


0
2. Section 32.7 is amended by adding paragraphs (a)(4) and (5) to read 
as follows:


Sec.  32.7  Residential real estate loans, loans to small businesses, 
and loans or extensions of credit to small farms (``Supplemental 
Lending Limits Program'').

    (a) * * *
    (4) The total outstanding amount of a national bank's or savings 
association's loans and extensions of credit to one borrower made under 
Sec.  32.3(a) and (b), together with loans and extensions of credit to 
the borrower made pursuant to paragraphs (a)(1), (2), and (3) of this 
section, shall not exceed 25 percent of the bank's or savings 
association's capital and surplus.
    (5) The total outstanding amount of a national bank's or savings 
association's loans and extensions of credit to all of its borrowers 
made pursuant to the supplemental lending limits provided in paragraphs 
(a)(1), (2), and (3) of this section may not exceed 100 percent of

[[Page 61811]]

the bank's or saving association's capital and surplus.
* * * * *

Jonathan V. Gould,
Senior Deputy Comptroller and Chief Counsel.
[FR Doc. 2020-18937 Filed 9-30-20; 8:45 am]
BILLING CODE 4810-33-P