Federal Deposit Insurance Corporation December 21, 2015 – Federal Register Recent Federal Regulation Documents
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Removal of Transferred OTS Regulations Regarding Management Official Interlocks and Amendments to FDIC's Rules and Regulations
The Federal Deposit Insurance Corporation (``FDIC'') is adopting a final rule to rescind and remove from the Code of Federal Regulations the transferred OTS regulation entitled ``Management Official Interlocks.'' This subpart was included in the regulations that were transferred to the FDIC from the Office of Thrift Supervision (``OTS'') on July 21, 2011, in connection with the implementation of applicable provisions of title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act''). The requirements for State savings associations in the transferred OTS regulation are substantively similar to those in the FDIC's regulation, which is also entitled ``Management Official Interlocks'' and is applicable for all insured depository institutions (``IDIs'') for which the FDIC has been designated the appropriate Federal banking agency.
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