Federal Deposit Insurance Corporation – Federal Register Recent Federal Regulation Documents

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Regulatory Capital Rule: Revised Transition of the Current Expected Credit Losses Methodology for Allowances
Document Number: 2020-06770
Type: Rule
Date: 2020-03-31
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are inviting comment on an interim final rule that delays the estimated impact on regulatory capital stemming from the implementation of Accounting Standards Update No. 2016-13, Financial InstrumentsCredit Losses, Topic 326, Measurement of Credit Losses on Financial Instruments (CECL). The interim final rule provides banking organizations that implement CECL before the end of 2020 the option to delay for two years an estimate of CECL's effect on regulatory capital, relative to the incurred loss methodology's effect on regulatory capital, followed by a three-year transition period. The agencies are providing this relief to allow such banking organizations to better focus on supporting lending to creditworthy households and businesses in light of recent strains on the U.S. economy as a result of the coronavirus disease 2019 (COVID- 19), while also maintaining the quality of regulatory capital.
Standardized Approach for Calculating the Exposure Amount of Derivative Contracts
Document Number: 2020-06755
Type: Rule
Date: 2020-03-31
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
In light of recent economic disruptions caused by the COVID-19 virus and recent volatility in U.S. financial markets, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are issuing a document to allow depository institutions and depository institution holding companies to implement the final rule titled Standardized Approach for Calculating the Exposure Amount of Derivative Contracts (SA-CCR rule) for the first quarter of 2020, on a best efforts basis.
Parent Companies of Industrial Banks and Industrial Loan Companies
Document Number: 2020-06153
Type: Proposed Rule
Date: 2020-03-31
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation is seeking comment on a proposed rule that would require certain conditions and commitments for each deposit insurance application approval, non- objection to a change in control notice, and merger application approval that would result in an insured industrial bank or industrial loan company becoming, after the effective date of any final rule, a subsidiary of a company that is not subject to consolidated supervision by the Federal Reserve Board. The proposed rule also would require that before any industrial bank or industrial loan company may become a subsidiary of a company that is not subject to consolidated supervision by the Federal Reserve Board, such company and the industrial bank or industrial loan company must enter into one or more written agreements with the Federal Deposit Insurance Corporation.
Regulatory Capital Rule: Money Market Mutual Fund Liquidity Facility
Document Number: 2020-06156
Type: Rule
Date: 2020-03-23
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
To provide liquidity to the money market sector to help stabilize the financial system, the Board of Governors of the Federal Reserve System authorized the Federal Reserve Bank of Boston to establish the Money Market Mutual Fund Liquidity Facility (MMLF), pursuant to section 13(3) of the Federal Reserve Act. Under the MMLF, the Federal Reserve Bank of Boston will extend non-recourse loans to eligible financial institutions to purchase certain types of assets from money market mutual funds (MMFs). To facilitate this Federal Reserve lending program, the Board, OCC and FDIC (together, the agencies) are adopting this interim final rule to allow banking organizations to neutralize the regulatory capital effects of participating in the program. This treatment would extend to the community bank leverage ratio.
Regulatory Capital Rule: Eligible Retained Income
Document Number: 2020-06051
Type: Rule
Date: 2020-03-20
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
In light of recent disruptions in economic conditions caused by the coronavirus disease 2019 (COVID-19) and current strains in U.S. financial markets, the Board, OCC and FDIC (together, the agencies) are issuing an interim final rule that revises the definition of eligible retained income for all depository institutions, bank holding companies, and savings and loan holding companies subject to the agencies' capital rule (together, a banking organization or banking organizations). The revised definition of eligible retained income will make any automatic limitations on capital distributions that could apply under the agencies' capital rules more gradual.
Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations; Correction
Document Number: 2020-05441
Type: Rule
Date: 2020-03-20
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (FDIC) is correcting an interagency final rule that appeared in the Federal Register on November 13, 2019, regarding the final rule titled ``Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations.'' These corrections are necessary to conform a footnote citation in the FDIC's amendment to its codified appendix for the Interagency Guidelines for Real Estate Lending Policies with the footnote citation in the regulations of the other federal banking agencies that issued that final rule.
Sunshine Act Meeting; Notice of Cancellation of Agency Meeting
Document Number: 2020-05846
Type: Notice
Date: 2020-03-19
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Guidance for Resolution Plan Submissions of Certain Foreign-Based Covered Companies
Document Number: 2020-05513
Type: Notice
Date: 2020-03-18
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System
The Board and the FDIC (together, the ``agencies'') are inviting comments on proposed guidance for the 2021 and subsequent resolution plan submissions by certain foreign banking organizations (``FBOs''). The proposed guidance is meant to assist these firms in developing their resolution plans, which are required to be submitted pursuant to Section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the ``Dodd-Frank Act''). The scope of application of the proposed guidance would be FBOs that are triennial full filers and whose intermediate holding companies (``U.S. IHCs'') have a score of 250 or more under the second methodology (``method 2'') of the global systemically important bank (``GSIB'') surcharge framework. The proposed guidance, which is largely based on prior guidance, describes the agencies' expectations regarding a number of key vulnerabilities in plans for a rapid and orderly resolution under the U.S. Bankruptcy Code (i.e., capital; liquidity; governance mechanisms; operational; legal entity rationalization and separability; and derivatives and trading activities). The proposed guidance also updates certain aspects of prior guidance based, in part, on the agencies' review of certain FBOs' most recent resolution plan submissions and changes to the resolution planning rule. The agencies invite public comment on all aspects of the proposed guidance.
Agency Information Collection Activities: Proposed Collection Renewal; Comment Request
Document Number: 2020-05455
Type: Notice
Date: 2020-03-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC, as part of its obligations under the Paperwork Reduction Act of 1995 (PRA), invites the general public and other Federal agencies to take this opportunity to comment on the renewal of the existing information collections described below (OMB Control No. 3064-0057; -0112; -0127; -0140; -0175; -0198).
Sunshine Act Meeting
Document Number: 2020-05376
Type: Notice
Date: 2020-03-13
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Extension of Comment Period; Request for Information on FDIC Sign and Advertising Requirements and Potential Technological Solutions
Document Number: 2020-05127
Type: Notice
Date: 2020-03-13
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
On February 26, 2020, the Federal Deposit Insurance Corporation (FDIC) published in the Federal Register a request for information (RFI) seeking input regarding potential modernization of its sign and advertising rules to reflect that deposit-taking via physical branch, digital, and mobile banking channels continues to evolve since the FDIC last significantly updated its rules in 2006. The FDIC has determined that an extension of the comment period until April 20, 2020, is appropriate.
Securitization Safe Harbor Rule
Document Number: 2020-02936
Type: Rule
Date: 2020-03-04
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is amending its securitization safe harbor rule, which relates to the treatment of financial assets transferred in connection with a securitization transaction, in order to eliminate a requirement that the securitization documents require compliance with Regulation AB of the Securities and Exchange Commission in circumstances where Regulation AB by its terms would not apply to the issuance of obligations backed by such financial assets.
Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds
Document Number: 2020-02707
Type: Proposed Rule
Date: 2020-02-28
Agency: Commodity Futures Trading Commission, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, Securities and Exchange Commission, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, Board, FDIC, SEC, and CFTC (together, the agencies) are inviting comment on a proposal that would amend the regulations implementing section 13 of the Bank Holding Company Act (BHC Act). Section 13 contains certain restrictions on the ability of a banking entity or nonbank financial company supervised by the Board to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund. The proposed amendments are intended to continue the agencies' efforts to improve and streamline the regulations implementing section 13 of the BHC Act by modifying and clarifying requirements related to the covered fund provisions.
Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations
Document Number: C1-2019-23472
Type: Rule
Date: 2020-02-26
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
Community Reinvestment Act Regulations; Extension of Comment Period
Document Number: 2020-03766
Type: Proposed Rule
Date: 2020-02-26
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
On January 9, 2020, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) published in the Federal Register a Notice of Proposed Rulemaking (NPR) entitled ``Community Reinvestment Act Regulations'' proposing comprehensive amendments to the rules implementing the Community Reinvestment Act (CRA). The NPR provided for a 60-day comment period, which would have closed on March 9, 2020. The FDIC and the OCC have determined that an extension of the comment period until April 8, 2020, is appropriate. This action will allow interested persons additional time to analyze the proposal and prepare their comments.
Request for Information on FDIC Sign and Advertising Requirements and Potential Technological Solutions
Document Number: 2020-03689
Type: Proposed Rule
Date: 2020-02-26
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is seeking input regarding potential modernization of its sign and advertising rules to reflect that deposit-taking via physical branch, digital, and mobile banking channels continues to evolve since the FDIC last significantly updated its rules in 2006. As banks adjust their business models to innovate and remain competitive, the FDIC is considering how to revise and clarify its sign and advertising rules related to FDIC deposit insurance. The FDIC is issuing this Request for Information (RFI) to inform FDIC efforts to align the policy objectives of its rules and keep pace with how today's banks offer deposit products and services and how consumers connect with banks, including through evolving channels. The FDIC is also seeking input on how to address potential misrepresentations by nonbanks about deposit insurance. In addition, the FDIC requests information about how technological or other solutions could be leveraged to help consumers better distinguish FDIC-insured banks and savings associations from entities that are not insured by the FDIC (nonbanks), particularly across web and digital channels.
Update to Notice of Financial Institutions for Which the Federal Deposit Insurance Corporation Has Been Appointed Either Receiver, Liquidator, or Manager
Document Number: 2020-03514
Type: Notice
Date: 2020-02-21
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Notice is hereby given that the Federal Deposit Insurance Corporation (Corporation) has been appointed the sole receiver for the following financial institution effective as of the Date Closed as indicated in the listing.
Unsafe and Unsound Banking Practices: Brokered Deposits Restrictions
Document Number: 2019-28275
Type: Proposed Rule
Date: 2020-02-10
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is inviting comment on proposed revisions to its regulations relating to the brokered deposits restrictions that apply to less than well capitalized insured depository institutions. The proposed rule would create a new framework for analyzing certain provisions of the ``deposit broker'' definition, including ``facilitating'' and ``primary purpose.'' The proposed rule would also establish an application and reporting process with respect to the primary purpose exception. The application process would be available to insured depository institutions and third parties that wish to utilize the exception.
Notice of Termination of Receiverships
Document Number: 2020-02440
Type: Notice
Date: 2020-02-07
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Sunshine Act Meeting
Document Number: 2020-02152
Type: Notice
Date: 2020-02-03
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Notice to All Interested Parties of Intent To Terminate Receiverships
Document Number: 2020-02056
Type: Notice
Date: 2020-02-03
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations; Corrections
Document Number: 2020-00776
Type: Rule
Date: 2020-01-30
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (FDIC) is correcting an interagency final rule that appeared in the Federal Register on Wednesday, November 13, 2019, regarding Capital Simplification for Qualifying Community Banking Organizations. These corrections are necessary to standardize the language in the FDIC regulations with the regulations of the other agencies that issued the final rule.
Sunshine Act Meeting
Document Number: 2020-01523
Type: Notice
Date: 2020-01-28
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Incorporation of Existing Statement of Policy Regarding Requests for Participation in the Affairs of an Insured Depository Institution by Convicted Individuals; Extension of Comment Period
Document Number: 2020-01298
Type: Proposed Rule
Date: 2020-01-27
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
On December 16, 2019, the Federal Deposit Insurance Corporation (FDIC) published in the Federal Register a Notice of Proposed Rulemaking (Notice) that proposed to revise the existing regulations requiring persons convicted of certain criminal offenses to obtain prior written consent before participating in the conduct of the affairs of any depository institution to incorporate the FDIC's existing Statement of Policy, and to amend the regulations setting forth the FDIC's procedures and standards applicable to an application to obtain the FDIC's prior written consent. The FDIC has determined that an extension of the comment period until March 16, 2020, is appropriate.
Agency Information Collection Activities; Submission for OMB Review; Comment Request
Document Number: 2020-01292
Type: Notice
Date: 2020-01-27
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the OCC, the Board, and the FDIC (the agencies) may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. On October 4, 2019, the agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), requested public comment for 60 days on a proposal to revise and extend the Consolidated Reports of Condition and Income (Call Reports) (FFIEC 031, FFIEC 041, and FFIEC 051) and the Regulatory Capital Reporting for Institutions Subject to the Advanced Capital Adequacy Framework (FFIEC 101), which are currently approved collections of information. The comment period for the October 2019 notice ended on December 3, 2019. As described in the SUPPLEMENTARY INFORMATION section, after considering the comments received on the proposal, the agencies are proceeding with the proposed revisions to the reporting forms and instructions for the Call Reports and the FFIEC 101 (except for the reporting changes arising from the proposed total loss absorbing capacity holdings rule that has not yet been finalized), but with certain modifications. In general, the modifications relate to the disclosure of an institution's election of the community bank leverage ratio framework, a change in the scope of the FFIEC 031 Call Report, and the reporting of home equity lines of credit that convert from revolving to non-revolving status. The reporting revisions that implement various changes to the agencies' capital rule would take effect in the same quarters as the effective dates of the capital rule changes, i.e., primarily as of the March 31 and June 30, 2020, report dates. Call Report revisions applicable to operating lease liabilities and home equity lines of credit would take effect in the first quarter of 2020 and 2021, respectively. In addition, the agencies are giving notice they are sending the collections to OMB for review.
Regulatory Capital Rule: Revisions to the Supplementary Leverage Ratio To Exclude Certain Central Bank Deposits of Banking Organizations Predominantly Engaged in Custody, Safekeeping, and Asset Servicing Activities
Document Number: 2019-28293
Type: Rule
Date: 2020-01-27
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation are issuing a final rule to implement section 402 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. Section 402 directs these agencies to amend the regulatory capital rule to exclude from the supplementary leverage ratio certain funds of banking organizations deposited with central banks if the banking organization is predominantly engaged in custody, safekeeping, and asset servicing activities.
Standardized Approach for Calculating the Exposure Amount of Derivative Contracts
Document Number: 2019-27249
Type: Rule
Date: 2020-01-24
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation are issuing a final rule to implement a new approachthe standardized approach for counterparty credit risk (SA- CCR)for calculating the exposure amount of derivative contracts under these agencies' regulatory capital rule. Under the final rule, an advanced approaches banking organization may use SA-CCR or the internal models methodology to calculate its advanced approaches total risk- weighted assets, and must use SA-CCR, instead of the current exposure methodology, to calculate its standardized total risk-weighted assets. A non-advanced approaches banking organization may use the current exposure methodology or SA-CCR to calculate its standardized total risk-weighted assets. The final rule also implements SA-CCR in other aspects of the capital rule. Notably, the final rule requires an advanced approaches banking organization to use SA-CCR to determine the exposure amount of derivative contracts included in the banking organization's total leverage exposure, the denominator of the supplementary leverage ratio. In addition, the final rule incorporates SA-CCR into the cleared transactions framework and makes other amendments, generally with respect to cleared transactions.
Removal of Transferred OTS Regulations Regarding Certain Regulations for the Operations of State Savings Associations and Conforming Amendments to Other Regulations
Document Number: 2019-27580
Type: Rule
Date: 2020-01-21
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (FDIC) is adopting a final rule (final rule) to rescind and remove certain regulations transferred in 2011 to the FDIC from the former Office of Thrift Supervision (OTS) pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) because they are unnecessary, redundant, or duplicative of other regulations or safety and soundness considerations. In addition to the removal, the FDIC is making technical changes to other parts of the FDIC's regulations so that they may be applicable on their terms to State savings associations. Following the removal of the identified regulations, the regulations governing the operations of State savings associations will be substantially the same as those for all other FDIC-supervised institutions.
Removal of Transferred OTS Regulations Regarding Accounting Requirements for State Savings Associations
Document Number: 2019-27579
Type: Rule
Date: 2020-01-21
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (FDIC) is adopting a final rule to rescind and remove rules regarding accounting requirements for State savings associations because these financial statement and disclosure requirements are substantially similar to, although more detailed than, otherwise applicable financial statement form and content requirements and disclosure requirements that a State savings association must satisfy under Federal banking or securities laws or regulations. The final rule adopts, without change, a notice of proposed rulemaking (NPR) published in the Federal Register on October 2, 2019, which received no comments.
Removal of Transferred OTS Regulations Regarding Regulatory Reporting Requirements, Reports and Audits of State Savings Associations
Document Number: 2019-27577
Type: Rule
Date: 2020-01-21
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (``FDIC'') is adopting a final rule rescinding and removing from the Code of Federal Regulations the regulations regarding regulatory reporting standards.
Agency Information Collection Activities: Submission for OMB Review; Comment Request Re: Information Collection for Innovation Pilot Programs (NEW)
Document Number: 2020-00437
Type: Notice
Date: 2020-01-14
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC seeks to continue its engagement and collaboration with innovators in the financial, non-financial, and technology sectors to, among other things, identify, develop and promote technology-driven innovations among community and other banks in a manner that ensures the safety and soundness of FDIC-supervised and insured institutions. An innovation pilot program framework can provide a regulatory environment in which the FDIC, in conjunction with individual proposals collected from innovators, including banks, will provide tailored regulatory and supervisory assistance, when appropriate, to facilitate the testing of innovative and advanced technologies, products, services, systems, or activities. On November 6, 2019, the FDIC requested comment for 60 days from the general public, including persons who may have an interest in participating in innovation pilot programs, and other Federal agencies, on the agency's collection of pilot program proposals by innovators, as required by the Paperwork Reduction Act of 1995 (PRA). The FDIC received no comments. The FDIC hereby gives notice of its plan to submit to the Office of Management and Budget (OMB) a request to approve this collection, and again invites comment on this new information collection request.
Notice of Inflation Adjustments for Civil Money Penalties
Document Number: 2020-00217
Type: Notice
Date: 2020-01-14
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation is providing notice of its maximum civil money penalties as adjusted for inflation.
Community Reinvestment Act Regulations
Document Number: 2019-27940
Type: Proposed Rule
Date: 2020-01-09
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) propose regulations that could encourage banks to provide billions more each year in Community Reinvestment Act-qualified lending, investment, and services by modernizing the Community Reinvestment Act (CRA) regulations to better achieve the law's underlying statutory purpose of encouraging banks to serve their communities by making the regulatory framework more objective, transparent, consistent, and easy to understand. To accomplish these goals, this proposed rule would strengthen the CRA regulations by clarifying which activities qualify for CRA credit, updating where activities count for CRA credit, creating a more transparent and objective method for measuring CRA performance, and providing for more transparent, consistent, and timely CRA-related data collection, recordkeeping, and reporting.
Agency Information Collection Activities: Submission for OMB Review; Comment Request (OMB No. 3064-0029; -0030; -0070; -0104; -0204)
Document Number: 2020-00058
Type: Notice
Date: 2020-01-08
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC, as part of its obligations under the Paperwork Reduction Act of 1995, invites the general public and other Federal agencies to take this opportunity to comment on the renewal of the existing information collections described below. On October 29, 2019, the FDIC requested comment for 60 days on a proposal to renew these information collections. No comments were received. The FDIC hereby gives notice of its plan to submit to OMB a request to approve the renewal of these information collections, and again invites comment on their renewal.
Margin and Capital Requirements for Covered Swap Entities
Document Number: 2019-28052
Type: Proposed Rule
Date: 2019-12-30
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency
The OCC, Board, FDIC, FCA, and FHFA (collectively, the agencies) are reopening the comment period for the notice of proposed rulemaking published in the Federal Register on November 7, 2019, to amend the agencies' regulations that require swap dealers and security- based swap dealers under the agencies' respective jurisdictions to exchange margin with their counterparties for swaps that are not centrally cleared (Proposed Swap Margin Amendments). Reopening the comment period that closed on December 9, 2019, will allow interested persons additional time to analyze and comment on the Proposed Swap Margin Amendments.
Community Reinvestment Act Regulations
Document Number: 2019-27288
Type: Rule
Date: 2019-12-30
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, the Board, and the FDIC (collectively, the Agencies) are amending their Community Reinvestment Act (CRA) regulations to adjust the asset-size thresholds used to define ``small bank'' or ``small savings association'' and ``intermediate small bank'' or ``intermediate small savings association.'' As required by the CRA regulations, the adjustment to the threshold amount is based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Extension of Comment Period; Request for Information on Application of the Uniform Financial Institutions Rating System
Document Number: 2019-27848
Type: Notice
Date: 2019-12-27
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Board of Governors of the Federal Reserve System
On October 31, 2019, the Board of Governors of the Federal Reserve System (Board) and the Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) published in the Federal Register a request for information (RFI) seeking information and comments from interested parties regarding the consistency of ratings assigned by the agencies under the Uniform Financial Institutions Rating System (UFIRS). The agencies have determined that an extension of the comment period until February 28, 2020, is appropriate.
Notice of the FDIC's Response to Exception Requests Pursuant to Recordkeeping for Timely Deposit Insurance Determination
Document Number: 2019-27626
Type: Notice
Date: 2019-12-23
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with its rule regarding recordkeeping for timely deposit insurance determination, the FDIC is providing notice to covered institutions that it has granted a time-limited exception concerning the requirement to maintain official custodian information in deposit account records for government deposit accounts, a time- limited exception concerning the requirement to maintain accurate beneficiary information in deposit account records for informal revocable trust accounts, and an indefinite exception concerning the requirement to maintain certain identifying information for beneficial owners of deposits in low balance, short-term prepaid card accounts.
Rescission of Statements of Policy
Document Number: 2019-27225
Type: Rule
Date: 2019-12-23
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In an ongoing effort to streamline issuances by the FDIC to the public and to ensure that such issuances are timely, relevant, and effective, the FDIC initiated a comprehensive review of its Statements of Policy to identify those that were outdated. Additionally, the FDIC, in the 2017 report required by the Economic Growth and Regulatory Paperwork Reduction Act, committed to reviewing published guidance to identify any guidance that should be revised or rescinded because it is out-of-date or otherwise no longer relevant. In furtherance of these initiatives, the FDIC Board of Directors approved a proposal to rescind four FDIC Statements of Policy, which was published in the Federal Register on September 30, 2019, with a 30-day comment period. The FDIC did not receive any comments on the proposed rescission of these Statements of Policy and is rescinding them effective December 31, 2019.
Credit Risk Retention-Notice of Commencement of Review
Document Number: 2019-27490
Type: Proposed Rule
Date: 2019-12-20
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Housing and Urban Development, Securities and Exchange Commission, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency
The OCC, Board, FDIC, Commission, FHFA, and HUD (the agencies) are providing notice of the commencement of the review of the definition of qualified residential mortgage; the community-focused residential mortgage exemption; and the exemption for qualifying three- to-four unit residential mortgage loans, in each case as currently set forth in the Credit Risk Retention Regulations (as defined below) as adopted by the agencies.
Notice to All Interested Parties of Intent To Terminate Receiverships
Document Number: 2019-27397
Type: Notice
Date: 2019-12-19
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Designated Reserve Ratio for 2020
Document Number: 2019-27235
Type: Notice
Date: 2019-12-18
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Sunshine Act Meeting
Document Number: 2019-27218
Type: Notice
Date: 2019-12-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Agency Information Collection Activities: Submission for OMB Review; Comment Request (OMB No. 3064-0026; -00079; -0122 and -0139)
Document Number: 2019-26981
Type: Notice
Date: 2019-12-16
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC, as part of its obligations under the Paperwork Reduction Act of 1995, invites the general public and other Federal agencies to take this opportunity to comment on the renewal of the existing information collections described below. On September 30, 2019, the FDIC requested comment for 60 days on a proposal to renew these information collections. No comments were received. The FDIC hereby gives notice of its plan to submit to OMB a request to approve the renewal of these information collections, and again invites comment on their renewal.
Incorporation of Existing Statement of Policy Regarding Requests for Participation in the Affairs of an Insured Depository Institution by Convicted Individuals
Document Number: 2019-26351
Type: Proposed Rule
Date: 2019-12-16
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (``FDIC'') proposes to revise the existing regulations requiring persons convicted of certain criminal offenses to obtain prior written consent before participating in the conduct of the affairs of any depository institution to incorporate the FDIC's existing Statement of Policy, and to amend the regulations setting forth the FDIC's procedures and standards applicable to an application to obtain the FDIC's prior written consent. Following the issuance of final regulations, the FDIC's existing Statement of Policy would be rescinded. The proposed incorporation of the Statement of Policy into the FDIC's regulations would provide for greater transparency as to its application, provide greater certainty as to the FDIC's application process and help both insured depository institutions and affected individuals to understand its impact and to potentially seek relief from its provisions.
Regulatory Capital Treatment for High Volatility Commercial Real Estate (HVCRE) Exposures
Document Number: 2019-26544
Type: Rule
Date: 2019-12-13
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are adopting a final rule to revise the definition of ``high volatility commercial real estate (HVCRE) exposure'' in the regulatory capital rule. This final rule conforms this definition to the statutory definition of ``high volatility commercial real estate acquisition, development, or construction (HVCRE ADC) loan,'' in accordance with section 214 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The final rule also clarifies the capital treatment for loans that finance the development of land under the revised HVCRE exposure definition.
Sunshine Act Meeting
Document Number: 2019-26647
Type: Notice
Date: 2019-12-10
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Notice of Termination of Receiverships
Document Number: 2019-26417
Type: Notice
Date: 2019-12-09
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Assessments
Document Number: 2019-25897
Type: Rule
Date: 2019-12-06
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is amending its deposit insurance assessment regulations to apply the community bank leverage ratio (CBLR) framework to the deposit insurance assessment system (CBLR Assessments final rule). The FDIC, the Board of Governors of the Federal Reserve System (Federal Reserve) and the Office of the Comptroller of the Currency (OCC) (collectively, the Federal banking agencies) are considering, and are expected to adopt, a final rule that provides for a simple measure of capital adequacy for certain community banking organizations (CBLR final rule). The CBLR Assessments final rule: prices all insured depository institutions (IDIs) that elect to use the CBLR framework as small institutions; makes technical amendments to the FDIC's assessment regulations to ensure that the assessment regulations continue to reference the prompt corrective action (PCA) regulations for the definitions of capital categories used in the deposit insurance assessment system; and clarifies that an IDI that elects to use the CBLR framework and also meets the definition of a custodial bank will have no change to its custodial bank deduction or reporting items required to calculate the deduction. The final rule does not make any changes to the FDIC's assessment methodology for small or large institutions.
Federal Interest Rate Authority
Document Number: 2019-25689
Type: Proposed Rule
Date: 2019-12-06
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (FDIC) is seeking comment on proposed regulations clarifying the law that governs the interest rates State-chartered banks and insured branches of foreign banks (collectively, State banks) may charge. The proposed regulations would provide that State banks are authorized to charge interest at the rate permitted by the State in which the State bank is located, or one percent in excess of the ninety-day commercial paper rate, whichever is greater. The proposed regulations also would provide that whether interest on a loan is permissible under section 27 of the Federal Deposit Insurance Act would be determined at the time the loan is made, and interest on a loan permissible under section 27 would not be affected by subsequent events, such as a change in State law, a change in the relevant commercial paper rate, or the sale, assignment, or other transfer of the loan.