Federal Deposit Insurance Corporation 2006 – Federal Register Recent Federal Regulation Documents

Results 51 - 100 of 103
Agency Information Collection Activities: Proposed Information Collection; Comment Request
Document Number: E6-13435
Type: Notice
Date: 2006-08-16
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on a proposed new one-time collection of information, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35). The collection would provide information on the features and effects of overdraft protection programs in state nonmember financial institutions.
Agency Information Collection Activities: Renewal of an Information Collection; Comment Request
Document Number: E6-13151
Type: Notice
Date: 2006-08-11
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the proposed renewal of an information collection, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35). Currently, the FDIC is soliciting comments concerning an information collection titled ``Occasional Qualitative Surveys.''
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: E6-13150
Type: Notice
Date: 2006-08-11
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it plans to submit to the Office of Management and Budget (OMB) a request for OMB review and approval of the information collection systems identified below: 1. Certification of Eligibility Under the Affordable Housing Program (3064-0116); 2. Notice Regarding Unauthorized Access to Customer Information (3064-0145); 3. Mutual-to-Stock Conversions of State Savings Banks (3064-0117); 4. Privacy of Consumer Financial Information (3064-0136); and 5. Applicant Background Questionnaire (3064-0138).
Moratorium on Certain Industrial Loan Company Applications and Notices
Document Number: E6-12449
Type: Notice
Date: 2006-08-01
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
This notice announces the imposition of a six-month moratorium on FDIC action to accept, approve, or deny any application for deposit insurance submitted to the FDIC by, or on behalf of, any proposed or existing industrial loan company, industrial bank or similar institution (collectively, ILC),\1\ or accept, disapprove, or issue a letter of intent not to disapprove, any change in bank control notice submitted to the FDIC with respect to any ILC. The FDIC Board of Directors (Board) may exclude from the moratorium any particular application or notice if it determines that the moratorium would present a significant safety and soundness risk to any FDIC-insured institution or a significant risk to the deposit insurance fund, or failure to act would otherwise impair the mission of the FDIC.
Statement of Policy Regarding the National Historic Preservation Act
Document Number: E6-11898
Type: Notice
Date: 2006-07-26
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is revising its Statement of Policy Regarding the National Historic Preservation Act of 1966 (NHPA). The Statement of Policy clarifies and revises the NHPA Statement of Policy so that it reflects the statutory changes to the NHPA and its implementing regulations. The Statement of Policy is relevant to applications for deposit insurance for de novo institutions and applications by state non-member banks to establish a domestic branch and to relocate a domestic branch or main office.
Assessments
Document Number: 06-6381
Type: Proposed Rule
Date: 2006-07-24
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Reform Act of 2005 requires that the Federal Deposit Insurance Corporation (the FDIC) prescribe final regulations, after notice and opportunity for comment, to provide for deposit insurance assessments under section 7(b) of the Federal Deposit Insurance Act (the FDI Act). The FDIC is proposing to amend its regulations to create different risk differentiation frameworks for smaller and larger institutions that are well capitalized and well managed; establish a common risk differentiation framework for all other insured institutions; and establish a base assessment rate schedule.
Deposit Insurance Assessments-Designated Reserve Ratio
Document Number: 06-6280
Type: Proposed Rule
Date: 2006-07-24
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Under the Federal Deposit Insurance Reform Act of 2005, the FDIC must by regulation set the Designated Reserve Ratio (DRR) for the Deposit Insurance Fund (DIF) within a range of 1.15 percent to 1.50 percent of estimated insured deposits. In this rulemaking, the FDIC seeks comment on the proposal to establish the DRR for the DIF at 1.25 percent of estimated insured deposits.
Penalty for Failure To Timely Pay Assessments
Document Number: E6-11423
Type: Proposed Rule
Date: 2006-07-19
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (``FDIC'') proposes to amend its rule concerning penalties for failure to timely pay assessments in compliance with the Federal Deposit Insurance Reform Act of 2005 (``Reform Act''), which amended provisions of the Federal Deposit Insurance Act (``FDIA''). The revisions generally provide that an insured depository institution which fails or refuses to pay any assessment shall be subject to a penalty of not more than 1 percent of the assessment due for each day the violation continues. The statute provides for an exception if the failure to pay results from a dispute with the FDIC over the amount of the assessment and the institution deposits satisfactory security with the FDIC. A special statutory rule covering assessment amounts of less than $10,000 authorizes penalties up to $100 per day. The FDIC is accorded discretion to compromise, modify or remit any penalty imposed on a finding that good cause prevented timely payment. The FDIC proposes amending its rule concerning late assessment penalties in conformity with these provisions of the Reform Act. The proposed rule would incorporate these statutory provisions into the FDIC's regulations in place of the existing late assessment penalty rule at 12 CFR 308.132(c)(3)(v).
Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003
Document Number: 06-6187
Type: Proposed Rule
Date: 2006-07-18
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Federal Trade Commission, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The OCC, Board, FDIC, OTS, NCUA and FTC (the Agencies) request comment on a proposal that would implement sections 114 and 315 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act). As required by section 114, the Agencies are jointly proposing guidelines for financial institutions and creditors identifying patterns, practices, and specific forms of activity, that indicate the possible existence of identity theft. The Agencies also are proposing joint regulations requiring each financial institution and creditor to establish reasonable policies and procedures for implementing the guidelines, including a provision requiring credit and debit card issuers to assess the validity of a request for a change of address under certain circumstances. In addition, the Agencies are proposing joint regulations under section 315 that provide guidance regarding reasonable policies and procedures that a user of consumer reports must employ when such a user receives a notice of address discrepancy from a consumer reporting agency.
Advertisement of Membership
Document Number: 06-6261
Type: Proposed Rule
Date: 2006-07-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is proposing to revise its regulation governing official FDIC signs and advertising of FDIC membership. The proposed rule would replace the separate signs used by Bank Insurance Fund (BIF) and Savings Association Insurance Fund (SAIF) members with a new sign, or insurance logo, to be used by all insured depository institutions. In addition, the proposed rule would extend the advertising requirements to savings associations and consolidate the exceptions to those requirements. The proposed rule also would restructure the text in certain sections in order to make them easier to read. Finally, the current prohibition pertaining to receipt of deposits at the same teller's station or window as noninsured institutions would be placed in its own section.
Proposed Agency Information Collection Activities; Comment Request
Document Number: 06-6228
Type: Notice
Date: 2006-07-14
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, Commodity Credit Corporation, Department of Agriculture
In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), 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. The Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, has approved the agencies' publication for public comment of a proposal to extend, with revision the Foreign Branch Report of Condition (FFIEC 030), which is a currently approved information collection for each agency. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the FFIEC should modify the report. The agencies will then submit the report to OMB for review and approval.
Effect of the Federal Deposit Insurance Reform Act on the Consolidated Reports of Condition and Income
Document Number: 06-6020
Type: Notice
Date: 2006-07-06
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, Comptroller of the Currency
On May 8, 2006, the agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), published a joint notice, with a request for comment, announcing the effect of the Federal Deposit Insurance Reform Act on the reporting of certain deposit-related data in the Consolidated Reports of Condition and Income (Call Report; FFIEC 031 and 041). The notice described regulatory reporting revisions being made to the Call Report effective June 30, 2006, primarily in response to an increase in the deposit insurance coverage for certain retirement plan deposits from $100,000 to $250,000. After considering the comments received on the agencies' notice, the agencies are providing additional information concerning the implementation of the regulatory reporting changes related to retirement plan deposits eligible for $250,000 in insurance coverage.
Sunshine Act Meeting; Notice of Agency Meeting
Document Number: 06-6019
Type: Notice
Date: 2006-07-05
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Sunshine Act Meeting; Notice of Agency Meeting
Document Number: 06-6018
Type: Notice
Date: 2006-07-05
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Assessments
Document Number: 06-5865
Type: Proposed Rule
Date: 2006-06-28
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
On May 18, 2006, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking with request for comments on revisions to 12 CFR part 327 (see 71 FR 28790). The rulemaking proposed to make the deposit insurance assessment system react more quickly and more accurately to changes in institutions' risk profiles, and in so doing to eliminate several causes for complaint by insured depository institutions. The proposed rule also would make changes necessitated by the recently enacted Federal Deposit Insurance Reform Act. The FDIC is extending the comment period on that notice of proposed rulemaking to August 16, 2006. This action will allow interested persons additional time to analyze the issues and prepare their comments.
One-Time Assessment Credit
Document Number: 06-5839
Type: Proposed Rule
Date: 2006-06-28
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
On May 18, 2006, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking with request for comments on the implementation of the one-time assessment credit for certain eligible insured depository institutions, as required by the Federal Deposit Insurance Act, as amended by the Federal Deposit Insurance Reform Act (``Reform Act'') (see 71 FR 28809). The FDIC is extending the comment period on that notice of proposed rulemaking to August 16, 2006. This action will allow interested persons additional time to analyze the issues and prepare their comments.
Dividends
Document Number: 06-5834
Type: Proposed Rule
Date: 2006-06-28
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
On May 18, 2006, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking with request for comments on the implementation of dividends, as required by the Federal Deposit Insurance Act, as amended by the Federal Deposit Insurance Reform Act (``Reform Act'') (see 71 FR 28804). The FDIC is extending the comment period on that notice of proposed rulemaking to August 16, 2006. This action will allow interested persons additional time to analyze the issues and prepare their comments.
Office of Thrift Supervision
Document Number: 06-5492
Type: Notice
Date: 2006-06-19
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Comptroller of the Currency
In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), FinCEN, OCC, OTS, FDIC, and NCUA (collectively, the ``agencies'') hereby give notice that they have submitted to the Office of Management and Budget (OMB) requests for review of the information collections described below. OCC, OTS, FDIC, NCUA, and FinCEN are submitting the Suspicious Activity Report (SAR) information collection to OMB for extension with revision. The Board of Governors of the Federal Reserve System (the Board) also participated in this review. However, the Board, under its Paperwork Reduction Act (PRA) delegated authority, will publish a separate final notice and submit its SAR information collection to OMB. On February 17, 2006, the agencies and the Board, requested public comment on a major revision of the SAR form. OCC also requested comments on all information collections contained in 12 CFR part 21 (``Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program''). The agencies have made the proposed changes, as well as additional changes suggested by the commenters.
Agency Information Collection Activities: Submission for OMB Review; Comment Request; 3064-0028
Document Number: E6-8646
Type: Notice
Date: 2006-06-05
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it is submitting to the Office of Management and Budget (OMB) a request for OMB review and approval of the renewal of the information collection system described below.
Agency Information Collection Activities: Proposed Collection Renewals; Comment Request
Document Number: E6-8182
Type: Notice
Date: 2006-05-26
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC, 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 continuing information collections, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35). Currently, the FDIC is soliciting comments concerning the following continuing collections of information titled: 1. Application Pursuant to Section 19 of the Federal Deposit Insurance Act (3064-0018); 2. Home Mortgage Disclosure Act (HMDA) (3064-0046); 3. Public Disclosure by Banks (3064-0090); 4. Notice Required of Government Securities Dealers or Brokers (Insured State Nonmember Banks) (3064-0093); 5. Procedures for Monitoring Bank Protection Act Compliance (3064- 0095); 6. Activities and Investments of Insured State Banks (3064-0111); 7. Foreign Banks (3064-0114); 8. Certification of Eligibility Under the Affordable Housing Program (3064-0116); 9. Notice Regarding Unauthorized Access to Customer Information (3064-0145); 10. Mutual-to-Stock Conversions of State Savings Banks (3064-0117); 11. Privacy of Consumer Financial Information (3064-0136); and 12. Applicant Background Questionnaire (3064-0138).
One-Time Assessment Credit; Correction
Document Number: E6-8000
Type: Proposed Rule
Date: 2006-05-25
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
This document corrects the preamble to the proposed rule published in the Federal Register of May 18, 2006, regarding the One- time Assessment Credit. Specifically, this document corrects the Agency Web site for submitting comments on this proposed rule.
Assessments; Correction
Document Number: E6-7999
Type: Proposed Rule
Date: 2006-05-25
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
This document corrects the preamble to the proposed rule published in the Federal Register of May 18, 2006, regarding Assessments. Specifically, this document corrects the Agency Web site for submitting comments on this proposed rule.
Dividends; Correction
Document Number: E6-7998
Type: Proposed Rule
Date: 2006-05-25
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
This document corrects the preamble to the proposed rule published in the Federal Register of May 18, 2006, regarding Dividends. Specifically, this document corrects the Agency Web site for submitting comments on this proposed rule.
Dividends
Document Number: E6-7585
Type: Proposed Rule
Date: 2006-05-18
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is proposing to amend 12 CFR 327 to implement the dividend requirements in the recently enacted Federal Deposit Insurance Reform Act of 2005 (``Reform Act'') and the Federal Deposit Insurance Reform Conforming Amendments Act of 2005 (``Amendments Act'') for an initial two-year period. The proposed rule would sunset on December 31, 2008. If this proposal is adopted, during 2007, the FDIC would plan to undertake a second notice-and-comment rulemaking beginning with an Advanced Notice of Proposed Rulemaking to explore alternative methods for distributing future dividends after this initial two-year period.
One-Time Assessment Credit
Document Number: E6-7583
Type: Proposed Rule
Date: 2006-05-18
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (``FDIC'') is proposing to amend 12 CFR part 327 to implement the one-time assessment credit for certain eligible insured depository institutions required by the Federal Deposit Insurance Act (``FDI Act'') as amended by the Federal Deposit Insurance Reform Act of 2005 (``Reform Act''). The proposed rule covers: the aggregate amount of the one-time credit; the institutions that are eligible to receive credits; and the amount of each eligible institution's credit, which for some institutions may be largely dependent on how the FDIC defines ``successor'' for these purposes. The proposed rule also would establish the qualifications and procedures governing the application of assessment credits, and provide a reasonable opportunity for an institution to challenge administratively the amount of the credit.
Assessments
Document Number: 06-4657
Type: Proposed Rule
Date: 2006-05-18
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC proposes to amend 12 CFR part 327 to make the deposit insurance assessment system react more quickly and more accurately to changes in institutions' risk profiles, and in so doing to eliminate several causes for complaint by insured depository institutions. The proposed revisions would provide for assessment collection after each quarter ends, which would allow for consideration of more current supervisory information. The computation of institutions' assessment bases would change in the following ways: institutions with $300 million or more in assets would be required to determine their assessment bases using average daily deposit balances, and the float deduction used to determine the assessment base would be eliminated. In addition, the rules governing assessments of institutions that go out of business would be simplified; newly insured institutions would be assessed for the assessment period they become insured; prepayment and double payment options would be eliminated; institutions would have 90 days from each quarterly certified statement invoice to file requests for review and requests for revision; the rules governing quarterly certified statement invoices would be adjusted for a quarterly assessment system and for a three-year retention period rather than the present five-year period.
Interagency Statement on Sound Practices Concerning Elevated Risk Complex Structured Finance Activities
Document Number: 06-4510
Type: Notice
Date: 2006-05-16
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Securities and Exchange Commission, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
On May 19, 2004, the Agencies issued and requested comment on a proposed Interagency Statement on Sound Practices Concerning Complex Structured Finance Activities (``Initial Statement'') of national banks, state banks, bank holding companies, Federal and state savings associations, savings and loan holding companies, U.S. branches and agencies of foreign banks, and SEC registered broker-dealers and investment advisers (collectively, ``financial institutions'' or ``institutions''). The Initial Statement described some of the internal controls and risk management procedures that may help financial institutions identify, manage, and address the heightened reputational and legal risks that may arise from certain complex structured finance transactions (``CSFTs''). After reviewing the comments received on the Initial Statement, the Agencies are requesting comment on a revised proposed interagency statement (``Revised Statement''). The Revised Statement has been modified in numerous respects to address issues and concerns raised by commenters, clarify the purpose, scope and effect of the statement, and make the statement more principles-based. These changes include reorganizing and streamlining the document to reduce redundancies and to focus the statement on those CSFTs that may pose heightened levels of legal or reputational risk to the relevant institution (referred to as ``elevated risk CSFTs''). In addition, the Agencies have modified the examples of transactions that may present elevated risk to make these examples more risk-focused, and have recognized more explicitly that an institution's review and approval process for elevated risk CSFTs should be commensurate with, and focus on, the potential risks presented by the transaction to the institution. As discussed below, the Revised Statement will not affect or apply to the vast majority of small financial institutions, nor does it create any private rights of action.
Effect of the Federal Deposit Insurance Reform Act on the Consolidated Reports of Condition and Income
Document Number: 06-4208
Type: Notice
Date: 2006-05-08
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, Comptroller of the Currency
The Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, has approved the agencies' publication of this notice announcing the effect of the Federal Deposit Insurance Reform Act on the reporting of certain deposit-related data in the Consolidated Reports of Condition and Income (Call Report; FFIEC 031 and 041). Because the deposit insurance coverage for certain retirement plan deposits has increased from $100,000 to $250,000 while the insurance limit for deposit accounts in other ownership capacities has remained at $100,000, data will begin to be reported separately for the number and amount of retirement deposit accounts with balances within and in excess of the new $250,000 insurance limit. The instructions for reporting estimated uninsured deposits by banks with $1 billion or more in total assets and for reporting brokered deposits will be revised to reflect the new insurance limit for retirement deposit accounts. In addition, with the merger of the insurance funds administered by the FDIC, items in which banks with ``Oakar deposits'' have reported information on purchases and sales of deposits are no longer needed and will be eliminated. These reporting changes will take effect in the Call Report for June 30, 2006. In a separate action, the agencies have decided not to implement two new credit-derivative- related items that were to be added to the Call Report on September 30, 2006.
Sunshine Act: Notice of Agency Meeting
Document Number: 06-4269
Type: Notice
Date: 2006-05-04
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Sunshine Act; Notice of Agency Meeting
Document Number: 06-4268
Type: Notice
Date: 2006-05-04
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Agency Information Collection Activities: Submission for OMB Review; Comment Request; 3064-0121
Document Number: E6-6604
Type: Notice
Date: 2006-05-02
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it is submitting to the Office of Management and Budget (OMB) a request for OMB review and approval of the renewal or revision of the information collection systems described below.
Revisions To Reflect the Merger of the Bank Insurance Fund and the Savings Association Insurance Fund
Document Number: 06-3721
Type: Rule
Date: 2006-04-21
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is amending its regulations to reflect the recent merger of the Bank Insurance Fund and the Savings Association Insurance Fund, forming the Deposit Insurance Fund. The merger of the two deposit insurance funds was required by the Federal Deposit Insurance Reform Act of 2005 and was effectuated by the FDIC as of March 31, 2006. All revisions to the FDIC's regulations made by the final rule are conforming changes necessitated by the funds merger.
Joint Report: Differences in Accounting and Capital Standards Among the Federal Banking Agencies; Report to Congressional Committees
Document Number: 06-3179
Type: Notice
Date: 2006-04-04
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, Office of Thrift Supervision, Comptroller of the Currency
The OCC, the Board, the FDIC, and the OTS (the Agencies) have prepared this report pursuant to section 37(c) of the Federal Deposit Insurance Act. Section 37(c) requires the Agencies to jointly submit an annual report to the Committee on Financial Services of the United States House of Representatives and to the Committee on Banking, Housing, and Urban Affairs of the United States Senate describing differences between the capital and accounting standards used by the Agencies. The report must be published in the Federal Register.
Deposit Insurance Regulations; Inflation Index; Certain Retirement Accounts and Employee Benefit Plan Accounts
Document Number: 06-2779
Type: Rule
Date: 2006-03-23
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is amending its deposit insurance regulations to implement applicable revisions to the Federal Deposit Insurance Act made by the Federal Deposit Insurance Reform Act of 2005 and the Federal Deposit Insurance Reform Conforming Amendments Act of 2005. The interim rule: Provides for consideration of inflation adjustments to increase the current standard maximum deposit insurance amount of $100,000 on a five-year cycle beginning in 2010; increases the deposit insurance limit for certain retirement accounts from $100,000 to $250,000, also subject to inflation adjustments; and provides per- participant insurance coverage to employee benefit plan accounts, even if the depository institution at which the deposits are placed is not authorized to accept employee benefit plan deposits.
Interagency Advance Notice of Proposed Rulemaking: Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies Under Section 312 of the Fair and Accurate Credit Transactions Act
Document Number: 06-2758
Type: Proposed Rule
Date: 2006-03-22
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Federal Trade Commission, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The OCC, Board, FDIC, OTS, NCUA, and FTC (the Agencies) request comment to gather information useful for developing the guidelines and regulations required by section 312 of the Fair and Accurate Credit Transactions Act (FACT Act). Pursuant to section 312, the Agencies, acting in consultation and coordination, must: Establish guidelines for use by persons that furnish information to consumer reporting agencies (furnishers) regarding the accuracy and integrity of the consumer information that they furnish to those agencies; and prescribe regulations that require furnishers to establish reasonable policies and procedures for implementing the guidelines. Section 312 also requires the Agencies jointly to prescribe regulations that identify the circumstances under which a furnisher shall be required to reinvestigate a dispute concerning the accuracy of information contained in a consumer report on a consumer based on a direct request of the consumer.
Agency Information Collection Activities: Proposed Collection Renewal (0028); Comment Request
Document Number: E6-3539
Type: Notice
Date: 2006-03-14
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC, 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 proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35). Currently, the FDIC is soliciting comments concerning the following continuing collection of information titled: Recordkeeping and Confirmation Requirements for Securities Transactions (3064-0028).
Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices; Extension of Comment Period
Document Number: 06-2442
Type: Notice
Date: 2006-03-14
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, Office of Thrift Supervision, Comptroller of the Currency
On January 13, 2006, the OCC, Board, FDIC, and OTS (the Agencies) published for public comment proposed Interagency Guidance on Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices. The Agencies are extending the comment period on the proposed guidance for 30 days.
Sunshine Act; Notice of Agency Meeting
Document Number: 06-2355
Type: Notice
Date: 2006-03-10
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Community Reinvestment Act; Interagency Questions and Answers Regarding Community Reinvestment; Notice
Document Number: 06-2188
Type: Notice
Date: 2006-03-10
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, Comptroller of the Currency
The OCC, Board, and FDIC (collectively, ``the Agencies'') are publishing revised guidance (Questions and Answers) relating to the Community Reinvestment Act (``the Act'' or ``CRA''). The Questions and Answers primarily addresses topics included in the revisions that the Agencies made to their CRA regulations, which became effective September 1, 2005.
Agency Information Collection Activities: Submission for OMB Review; Joint Comment Request
Document Number: 06-1980
Type: Notice
Date: 2006-03-03
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, Comptroller of the Currency
In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), 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 December 13, 2005, the agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), published a notice in the Federal Register (70 FR 73745) requesting public comment on the extension, without revision, of the currently approved information collections, the Country Exposure Report (FFIEC 009) and the Country Exposure Information Report (FFIEC 009a). The comment period for this notice expired on February 13, 2006. No comments were received. The agencies are now submitting requests to OMB for approval of the extension, without revision, of the FFIEC 009 and FFIEC 009a reports.
Agency Information Collection Activities: Submission for OMB Review; Comment Request; 3064-0097, 0134 & 0135
Document Number: 06-1916
Type: Notice
Date: 2006-03-01
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the FDIC hereby gives notice that it is submitting to the Office of Management and Budget (OMB) a request for OMB review and approval of the renewal or revision of the information collection systems described below.
Application for Deposit Insurance for Wal-Mart Bank
Document Number: 06-1875
Type: Notice
Date: 2006-03-01
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
This notice announces two public hearing(s) on the application for Federal deposit insurance filed on behalf of the proposed Wal-Mart Bank (Application). A copy of the public portions of the Application together with the comments received on the Application are available on the FDIC's Web site at http:www.fdic.gov. The FDIC has scheduled two hearings to obtain the public's views on the issues presented by the Application. This notice sets forth the dates, times, locations, and other details of the hearings. Opportunities to make an oral presentation at the hearings are limited, and not all requests to make an oral presentation may be granted. Attendance at the hearing is not required in order to submit a written statement.
Interagency Guidance on Nontraditional Mortgage Products; Extension of Comment Period
Document Number: 06-1675
Type: Notice
Date: 2006-02-23
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
On December 29, 2005, the OCC, Board, FDIC, OTS, and NCUA (the Agencies) published for public comment proposed Interagency Guidance on Nontraditional Mortgage Products (Guidance). The Agencies are extending the comment period on the proposed guidance for 30 days.
Risk-Based Capital Guidelines; Market Risk Measure; Securities Borrowing Transactions
Document Number: 06-1533
Type: Rule
Date: 2006-02-22
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, Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) (collectively, the Agencies) are issuing a final rule that amends their market risk rules to revise the risk-based capital treatment for cash collateral that is posted in connection with securities borrowing transactions. This final rule will make permanent, and expand the scope of, an interim final rule issued in 2000 (the interim rule) that reduced the capital requirement for certain cash-collateralized securities borrowing transactions of banks and bank holding companies (banking organizations) that have adopted the market risk rule. This action more appropriately aligns the capital requirements for these transactions with the risk involved and provides a capital treatment for U.S. banking organizations that is more in line with the capital treatment to which their domestic and foreign competitors are subject.
Certification of Assumption of Deposits and Notification of Changes of Insured Status
Document Number: 06-1568
Type: Rule
Date: 2006-02-21
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is adopting a final rule which clarifies and simplifies the procedures to be used when all of the deposit liabilities of an insured depository institution have been assumed by another insured depository institution or institutions. The final regulation would modify the current rule's requirements by: Making clear that an insured institution is required to file a ``certification'' when all of its deposits are assumed, but no certification is required if only a portion of its deposits are assumed; and requiring that the transferring institution, or its legal successor, file the certification rather than the assuming institution. The rule also clarifies that the transferring institution's status as an insured institution automatically terminates upon the FDIC's receipt of an accurate certification stating that: All of its deposits have been assumed by an insured depository institution or institutions, and the legal authority of the transferring institution to accept deposits has been terminated contemporaneously with the deposit assumption. In such a situation, and in a situation in which the FDIC has been appointed receiver of an insured institution, little practical purpose would be served by an order terminating deposit insurance, and the final rule provides that no such order will be issued in such situations. Finally, the rule would provide more specificity concerning how notice is given to depositors when an insured depository institution voluntarily terminates its insured status without the assumption of all of its deposits by an insured institution. In sum, the revisions would make the insurance termination process somewhat easier for insured depository institutions, and somewhat more efficient for the FDIC.
Agency Information Collection Activities: Submission for OMB Review; Joint Comment Request
Document Number: 06-1495
Type: Notice
Date: 2006-02-17
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, Comptroller of the Currency
In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), 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 August 23, 2005, the Financial Institutions Examination Council (FFIEC), of which the Agencies are members, requested public comment for 60 days on proposed revisions to the Consolidated Reports of Condition and Income (Call Report), which are currently approved collections of information. After considering the comments, the FFIEC has modified some of the proposed changes and will stagger the effective dates of the revisions from March 31, 2006, through March 31, 2008. The burden-reducing revisions included in the proposal will be implemented March 31, 2006, as proposed.
Agency Information Collection Activities; Proposed Collection; Comment Request; Suspicious Activity Report by Depository Institutions
Document Number: 06-1433
Type: Notice
Date: 2006-02-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The Financial Crimes Enforcement Network and the Banking Supervisory Agencies \1\, as part of their continuing effort to reduce paperwork and respondent burden, invite 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, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). The Financial Crimes Enforcement Network and the Banking Supervisory Agencies are soliciting comments concerning the Suspicious Activity Report by Depository Institutions, which is being revised and reformatted to standardize this report with suspicious activity reports being filed by other financial institutions. The report also is being revised to support joint filing, providing the necessary data blocks and instructions for completing a jointly filed suspicious activity report. The instructions limit joint filing to those suspicious activities that do not involve insider abuse.
Interagency Advisory on the Unsafe and Unsound Use of Limitation of Liability Provisions in External Audit Engagement Letters
Document Number: C6-1189
Type: Notice
Date: 2006-02-15
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
Interagency Advisory on the Unsafe and Unsound Use of Limitation of Liability Provisions in External Audit Engagement Letters
Document Number: 06-1189
Type: Notice
Date: 2006-02-09
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The OTS, Board, FDIC, NCUA, and OCC (collectively, the ``Agencies''), have finalized the Interagency Advisory on the Unsafe and Unsound Use of Limitation of Liability Provisions in External Audit Engagement Letters (``Advisory''). The Advisory informs financial institutions'' boards of directors, audit committees, and management that they should not enter into agreements that incorporate unsafe and unsound external auditor limitation of liability provisions with respect to engagements for financial statement audits, audits of internal control over financial reporting, and attestations on management's assessment of internal control over financial reporting.
Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice; Correction
Document Number: 06-1009
Type: Rule
Date: 2006-02-03
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency, Department of the Treasury, Office of Thrift Supervision, Comptroller of the Currency
The OCC, Board, FDIC and OTS published in the Federal Register on March 29, 2005 interpretive guidance on the Gramm-Leach-Bliley Act (GLBA) and the Interagency Guidelines Establishing Information Security Standards (Security Guidelines). In footnote six of the interpretive guidance, the Federal Trade Commission (``FTC'') citation reads 12 CFR part 314 whereas it should read 16 CFR part 314.
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