Federal Deposit Insurance Corporation May 2011 – Federal Register Recent Federal Regulation Documents

Update to Notice of Financial Institutions for Which the Federal Deposit Insurance Corporation Has Been Appointed Either Receiver, Liquidator, or Manager
Document Number: 2011-13361
Type: Notice
Date: 2011-05-31
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 institutions effective as of the Date Closed as indicated in the listing. This list (as updated from time to time in the Federal Register) may be relied upon as ``of record'' notice that the Corporation has been appointed receiver for purposes of the statement of policy published in the July 2, 1992 issue of the Federal Register (57 FR 29491). For further information concerning the identification of any institutions which have been placed in liquidation, please visit the Corporation Web site at http:// www.fdic.gov/bank/individual/failed/banklist.html or contact the Manager of Receivership Oversight in the appropriate service center.
FDIC Advisory Committee on Economic Inclusion (ComE-IN); Notice of Meeting
Document Number: 2011-12152
Type: Notice
Date: 2011-05-18
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In accordance with the Federal Advisory Committee Act, notice is hereby given of a meeting of the FDIC Advisory Committee on Economic Inclusion, which will be held in Washington, DC. The Advisory Committee will provide advice and recommendations on initiatives to expand access to banking services by underserved populations.
Retail Foreign Exchange Transactions
Document Number: 2011-11853
Type: Proposed Rule
Date: 2011-05-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is proposing regulations that would impose requirements for foreign currency futures, options on futures, and options that an insured depository institution supervised by the Federal Deposit Insurance Corporation engages in with retail customers. Pursuant to section 742(c) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, such transactions will be prohibited as of July 16, 2011, in the absence of the proposed requirements. The proposed regulations would also impose requirements on other foreign currency transactions that are functionally or economically similar to futures, options on futures, or options. These similar transactions include so-called ``rolling spot'' transactions that an individual enters into with a foreign currency dealer, usually through the Internet or other electronic platform, to transact in foreign currency. The regulations would not apply to traditional foreign currency forwards or spot transactions that a depository institution engages in with business customers to hedge foreign exchange risk.
Determination of Insufficient Assets To Satisfy Claims Against Financial Institution in Receivership
Document Number: 2011-11890
Type: Notice
Date: 2011-05-16
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC has determined that insufficient assets exist in the receivership of Corus Bank, N.A., Chicago, Illinois, to make any distribution to general unsecured claims, and therefore such claims will recover nothing and have no value.
Securities of Nonmember Insured Banks
Document Number: 2011-11788
Type: Rule
Date: 2011-05-16
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is adopting as final the Interim Final Rule published in the Federal Register (see 75 FR 73947) on November 30, 2010. The final rule adopts amendments to the FDIC's securities disclosure regulations applicable to state nonmember banks with securities required to be registered under section 12 of the Securities Exchange Act of 1934 (Exchange Act) and cross references to regulations issued by the Securities Exchange Commission (SEC). The FDIC received no comments in response to the Interim Final Rule concerning these revisions. Accordingly, the Final Rule makes no changes from the Interim Final Rule that preceded it. The Final Rule incorporates, through cross references, changes in regulations adopted by the SEC into the provisions of the FDIC's securities regulations. Cross referencing will ensure that the FDIC's regulations remain substantially similar to the SEC's regulations, as required by law.
Update to Notice of Financial Institutions for Which the Federal Deposit Insurance Corporation Has Been Appointed Either Receiver, Liquidator, or Manager
Document Number: 2011-11794
Type: Notice
Date: 2011-05-13
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 institutions effective as of the Date Closed as indicated in the listing. This list (as updated from time to time in the Federal Register) may be relied upon as ``of record'' notice that the Corporation has been appointed receiver for purposes of the statement of policy published in the July 2, 1992 issue of the Federal Register (57 FR 29491). For further information concerning the identification of any institutions which have been placed in liquidation, please visit the Corporation Web site at http:// www.fdic.gov/bank/individual/failed/banklist.html or contact the Manager of Receivership Oversight in the appropriate service center.
Clarification of Statement of Policy
Document Number: 2011-11790
Type: Notice
Date: 2011-05-13
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC originally promulgated the Statement of Policy for Section 19 of the Federal Deposit Insurance Act (SOP) in December 1998. The FDIC, in 2007, issued a clarification to the SOP based on the 2006 amendment to Section 19 of the Federal Deposit Insurance Act which addressed institution-affiliated parties (IAPs) participating in the affairs of Bank Holding Companies, or Savings and Loan Holding Companies. The FDIC is restating that previous change to the SOP in a slightly modified form, and addressing certain other issues that have arisen in the FDIC's interpretation of the policy since its original publication. The FDIC is clarifying what the FDIC views as a complete expungement of a conviction, and the definition of de minimis offenses.
Sunshine Act Meeting
Document Number: 2011-11789
Type: Notice
Date: 2011-05-12
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Determination of Insufficient Assets To Satisfy Claims Against Financial Institution in Receivership
Document Number: 2011-11415
Type: Notice
Date: 2011-05-11
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC has determined that insufficient assets exist in the receivership of AmTrust Bank, Cleveland, Ohio, to make any distribution to general unsecured claims, and therefore such claims will recover nothing and have no value.
Margin and Capital Requirements for Covered Swap Entities
Document Number: 2011-10432
Type: Proposed Rule
Date: 2011-05-11
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency, Board of Governors of the Federal Reserve System
The OCC, Board, FDIC, FCA, and FHFA (collectively, the Agencies) are requesting comment on a proposal to establish minimum margin and capital requirements for registered swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants for which one of the Agencies is the prudential regulator. This proposed rule implements sections 731 and 764 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which require the Agencies to adopt rules jointly to establish capital requirements and initial and variation margin requirements for such entities on all non-cleared swaps and non-cleared security-based swaps in order to offset the greater risk to such entities and the financial system arising from the use of swaps and security-based swaps that are not cleared.
Update to Notice of Financial Institutions for Which the Federal Deposit Insurance Corporation Has Been Appointed Either Receiver, Liquidator, or Manager
Document Number: 2011-11052
Type: Notice
Date: 2011-05-06
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 institutions effective as of the Date Closed as indicated in the listing. This list (as updated from time to time in the Federal Register) may be relied upon as ``of record'' notice that the Corporation has been appointed receiver for purposes of the statement of policy published in the July 2, 1992 issue of the Federal Register (57 FR 29491). For further information concerning the identification of any institutions which have been placed in liquidation, please visit the Corporation Web site at http:// www.fdic.gov/bank/individual/failed/banklist.html or contact the Manager of Receivership Oversight in the appropriate service center.
Sunshine Act Meeting
Document Number: 2011-11153
Type: Notice
Date: 2011-05-05
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Establishment of the FDIC Systemic Resolution Advisory Committee
Document Number: 2011-10794
Type: Notice
Date: 2011-05-04
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Chairman of the Federal Deposit Insurance Corporation (FDIC) is establishing the FDIC Systemic Resolution Advisory Committee (the ``SR Advisory Committee''). The SR Advisory Committee will provide advice and recommendations on a broad range of issues regarding the resolution of systemically important financial companies pursuant to Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law 111-203 (July 21, 2010), 12 U.S.C. 5301 et seq. (the ``Dodd-Frank Act''). The SR Advisory Committee is also intended to facilitate discussion on how the FDIC's systemic resolution authority, and its implementation, may impact regulated entities and other stakeholders potentially affected by the process. The SR Advisory Committee will serve solely in an advisory capacity and will have no final decision-making authority, nor will it have access to or discuss any non-public, confidential or institution-specific information. The Chairman certifies that the establishment of this advisory committee is in the public interest in connection with the performance of duties imposed on the FDIC by law.
Agency Information Collection Activities: Proposed Collection Renewals; Comment Request
Document Number: 2011-10607
Type: Notice
Date: 2011-05-03
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 renewal of an existing information collection, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35). Currently, the FDIC is soliciting comments on renewal of the information collection titled: Flood Insurance (OMB Number: 3064-0120).
Agency Information Collection Activities; Submission for OMB Review; Joint Comment Request
Document Number: 2011-10592
Type: Notice
Date: 2011-05-02
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Department of the Treasury, Office of Thrift Supervision
In accordance with the requirements of the Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. chapter 35), the FDIC and the OTS (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 February 8, 2011, the agencies requested public comment for 60 days on their proposal to require savings associations currently filing data through the Branch Office Survey System (BOS) with the OTS to convert to filing data through the Summary of Deposits Survey (SOD) with the FDIC (76 FR 7087). The BOS and the SOD are currently approved collections of information. One comment letter was received on the proposal. After considering the comment received on the proposal, the agencies hereby give notice of their plan to proceed with the reporting changes proposed and will submit the proposal to OMB for review and approval.