Federal Deposit Insurance Corporation – Federal Register Recent Federal Regulation Documents

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Securitization Safe Harbor Rule; Correction
Document Number: 2021-06724
Type: Rule
Date: 2021-04-08
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
This document contains a correction to the final regulation related to the Securitization Safe Harbor Rule which was published in the Federal Register on March 4, 2020.
Request for Information and Comment on Financial Institutions' Use of Artificial Intelligence, Including Machine Learning
Document Number: 2021-06607
Type: Notice
Date: 2021-03-31
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, Bureau of Consumer Financial Protection, Board of Governors of the Federal Reserve System
The agencies are gathering information and comments on financial institutions' use of artificial intelligence (AI), including machine learning (ML). The purpose of this request for information (RFI) is to understand respondents' views on the use of AI by financial institutions in their provision of services to customers and for other business or operational purposes; appropriate governance, risk management, and controls over AI; and any challenges in developing, adopting, and managing AI. The RFI also solicits respondents' views on the use of AI in financial services to assist in determining whether any clarifications from the agencies would be helpful for financial institutions' use of AI in a safe and sound manner and in compliance with applicable laws and regulations, including those related to consumer protection.
FDIC Advisory Committee on Community Banking; Notice of Meeting
Document Number: 2021-06268
Type: Notice
Date: 2021-03-26
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 Community Banking. The Advisory Committee will provide advice and recommendations on a broad range of policy issues that have particular impact on small community banks throughout the United States and the local communities they serve. The meeting is open to the public. Out of an abundance of caution related to current and potential coronavirus developments, the public's means to observe this Community Banking Advisory Committee meeting will be via a Webcast live on the internet. In addition, the meeting will be recorded and subsequently made available on-demand approximately two weeks after the event. To view the live event, visit http://fdic.windrosemedia.com. To view the recording, visit http://fdic.windrosemedia.com/ index.php?category=Community+Banking+Advisory+Committee. If you require a reasonable accommodation to participate, please contact DisabilityProgram@fdic.gov or call 703-562-2096 to make necessary arrangements.
Regulatory Capital Rule: Emergency Capital Investment Program
Document Number: 2021-05443
Type: Rule
Date: 2021-03-22
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
In order to support and facilitate the timely implementation and acceptance of the Congressionally authorized Emergency Capital Investment Program (ECIP) for the Department of the Treasury to make capital investments in low- and moderate-income community financial institutions, the OCC, Board, and FDIC (together, the agencies) are issuing an interim final rule that provides that preferred stock issued under ECIP qualifies as additional tier 1 capital and that subordinated debt issued under ECIP qualifies as tier 2 capital under the agencies' capital rule.
Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Private Flood Insurance
Document Number: 2021-05314
Type: Proposed Rule
Date: 2021-03-18
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, Board, FDIC, FCA, and NCUA (collectively, the Agencies) propose to supplement the Interagency Questions and Answers Regarding Flood Insurance with new questions and answers regarding the acceptance of flood insurance policies issued by private insurers pursuant to the Agencies' private flood insurance final rule issued in February 2019. These questions and answers will assist lenders in meeting their responsibilities under the final rule and increase public understanding of the Agencies' respective flood insurance regulations. The Agencies solicit comment on all aspects of these new questions and answers.
Role of Supervisory Guidance
Document Number: 2021-01537
Type: Rule
Date: 2021-03-02
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is adopting a final rule that codifies the Interagency Statement Clarifying the Role of Supervisory Guidance, issued by the FDIC, Board of Governors of the Federal Reserve System (Board), Office of the Comptroller of the Currency, Treasury (OCC), National Credit Union Administration (NCUA), and Bureau of Consumer Financial Protection (Bureau) (collectively, the agencies) on September 11, 2018 (2018 Statement). By codifying the 2018 Statement, with amendments, the final rule confirms that the FDIC will continue to follow and respect the limits of administrative law in carrying out its supervisory responsibilities. The 2018 Statement reiterated well- established law by stating that, unlike a law or regulation, supervisory guidance does not have the force and effect of law. As such, supervisory guidance does not create binding legal obligations for the public. Because it is incorporated into the final rule, the 2018 Statement, as amended, is binding on the FDIC. The final rule adopts the rule as proposed without substantive changes.
FDIC Advisory Committee of State Regulators; Notice of Meeting
Document Number: 2021-03839
Type: Notice
Date: 2021-02-25
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 of State Regulators. The Advisory Committee will provide advice and recommendations on a broad range of policy issues regarding the regulation of state-chartered financial institutions throughout the United States, including its territories. The meeting is open to the public. Out of an abundance of caution related to current and potential coronavirus developments, the public's means to observe this meeting of the Advisory Committee of State Regulators will be via a Webcast live on the internet. In addition, the meeting will be recorded and subsequently made available on- demand approximately two weeks after the event. To view the live event, visit http://fdic.windrosemedia.com. To view the recording, visit http://fdic.windrosemedia.com/ index.php?category=Advisory+Committee+State+Regulators. If you require a reasonable accommodation to participate, please contact DisabilityProgram@fdic.gov or call 703-562-2096 to make necessary arrangements.
Assessments, Amendments To Address the Temporary Deposit Insurance Assessment Effects of the Optional Regulatory Capital Transitions for Implementing the Current Expected Credit Losses Methodology
Document Number: 2021-03456
Type: Rule
Date: 2021-02-25
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation is adopting amendments to the risk-based deposit insurance assessment system applicable to all large insured depository institutions (IDIs), including highly complex IDIs, to address the temporary deposit insurance assessment effects resulting from certain optional regulatory capital transition provisions relating to the implementation of the current expected credit losses (CECL) methodology. The final rule removes the double counting of a specified portion of the CECL transitional amount or the modified CECL transitional amount, as applicable (collectively, the CECL transitional amounts), in certain financial measures that are calculated using the sum of Tier 1 capital and reserves and that are used to determine assessment rates for large or highly complex IDIs. The final rule also adjusts the calculation of the loss severity measure to remove the double counting of a specified portion of the CECL transitional amounts for a large or highly complex IDI. This final rule does not affect regulatory capital or the regulatory capital relief provided in the form of transition provisions that allow banking organizations to phase in the effects of CECL on their regulatory capital ratios.
Parent Companies of Industrial Banks and Industrial Loan Companies
Document Number: 2020-28473
Type: Rule
Date: 2021-02-23
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation is adopting a final rule that requires 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, on or after the effective date of the final rule, a subsidiary of a company that is not subject to consolidated supervision by the Federal Reserve Board. The final rule also requires 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.
Agency Information Collection Activities; Submission for OMB Review; Comment Request
Document Number: 2021-03210
Type: Notice
Date: 2021-02-18
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 November 30, 2020, 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), which are currently approved collections of information. The agencies' proposal addressed measurement dates of total asset thresholds associated with the reporting of certain data in the Call Reports. The comment period for the November 2020 notice ended on January 29, 2021. After considering the comments received on the notice, the agencies are proceeding with the proposed revisions to the reporting forms and instructions for the Call Reports related to the agencies' asset-size thresholds rulemaking. The agencies hereby give notice of their plan to submit to OMB a request to approve the revision and extension of these information collections, and again invite comment on the renewal.
Agency Information Collection Activities: Proposed Collection Renewal; Comment Request
Document Number: 2021-03171
Type: Notice
Date: 2021-02-17
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. 3064-0022; -0027; -0103; -0114; -0115; -0163).
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2021-03110
Type: Notice
Date: 2021-02-17
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 request to approve a new information collections for its seventh biennial survey of households, which has been renamed the Survey of Household Use of Banking and Financial Services (``Household Survey''). This survey was previously named the FDIC National Survey of Unbanked and Underbanked Households and was assigned OMB Control No. 3064-0167. FDIC is seeking a new OMB Control Number for this version of the survey. The Household Survey is scheduled to be conducted in partnership with the U.S. Census Bureau as a supplement to its June 2021 Current Population Survey (CPS). The survey collects information on U.S. households' use of bank accounts and other transaction accounts including prepaid cards, online payment services, nonbank financial transaction services, and bank and nonbank credit. The results of these ongoing surveys will be published in the FDIC's How America Banks reports which help inform policymakers, bankers, and researchers about how households use, or don't use, the banking system. On December 2, 2020, the FDIC requested comment for 60 days on the proposed information collection. No comments were received. The FDIC hereby gives notice of its plan to submit to OMB a request to approve this information collection, and again invites comment on the information collection.
Branch Application Procedures; Correction
Document Number: 2021-00371
Type: Rule
Date: 2021-02-16
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
This document contains a correction to the final regulation which was published in the Federal Register of November 13, 2020. The regulation to be corrected related to Branch Application Procedures.
Notice of Termination of Receiverships
Document Number: 2021-02783
Type: Notice
Date: 2021-02-11
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Notice of the FDIC's Response to Exception Requests Pursuant to Recordkeeping for Timely Deposit Insurance Determination
Document Number: 2021-02782
Type: Notice
Date: 2021-02-11
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 that it has granted time-limited exception relief to covered institutions from: The information technology system and recordkeeping requirements applicable to certain formal revocable and irrevocable trust accounts; the information technology system requirements, general recordkeeping requirements, and alternative recordkeeping requirements applicable to certain deposit accounts for which the covered institution must perform data clean up to assign an appropriate ownership right and capacity code to the subject accounts and related system updates; the information technology system requirements and general recordkeeping requirements to certain internal (work-in-process) deposit accounts for which the covered institution's information technology system is not yet capable of calculating deposit insurance within 24 hours after the appointment of the FDIC as receiver; and the information technology system requirements, general recordkeeping requirements, and alternative recordkeeping requirements for a limited number of deposit accounts held in the covered institution's trust department, which acts in an agency or fiduciary capacity.
Notice of the FDIC's Response to Exception Requests Pursuant to the Recordkeeping for Timely Deposit Insurance Determination Rule
Document Number: 2021-02781
Type: Notice
Date: 2021-02-11
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 that it has granted time-limited exception relief to covered institutions until March 31, 2022, from information technology system requirements and recordkeeping requirements for principal and interest payments held in mortgage servicing accounts for which the covered institutions act as servicers or sub-servicers. The recommended relief will provide the covered institutions additional time to remediate their servicing platforms and internal processing capabilities pending further direction from the FDIC.
Removal of Transferred OTS Regulations Regarding Definitions of Terms
Document Number: 2021-01536
Type: Proposed Rule
Date: 2021-02-11
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In order to streamline FDIC regulations, the FDIC proposes to rescind and remove from the Code of Federal Regulations rules entitled Definitions for Regulations Affecting All State Savings Associations that were transferred to the FDIC from the Office of Thrift Supervision (OTS) on July 21, 2011, in connection with the implementation of Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The effective date of rescinding and removing these regulations would be coordinated with the rescission and removal of the other remaining subparts.
Net Stable Funding Ratio: Liquidity Risk Measurement Standards and Disclosure Requirements
Document Number: 2020-26546
Type: Rule
Date: 2021-02-11
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 (OCC), the Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) are adopting a final rule that implements a stable funding requirement, known as the net stable funding ratio (NSFR), for certain large banking organizations. The final rule establishes a quantitative metric, the NSFR, to measure the stability of the funding profile of certain large banking organizations and requires these banking organizations to maintain minimum amounts of stable funding to support their assets, commitments, and derivatives exposures over a one-year time horizon. The NSFR is designed to reduce the likelihood that disruptions to a banking organization's regular sources of funding will compromise its liquidity position, promote effective liquidity risk management, and support the ability of banking organizations to provide financial intermediation to businesses and households across a range of market conditions. The NSFR supports financial stability by requiring banking organizations to fund their activities with stable sources of funding on an ongoing basis, reducing the possibility that funding shocks would substantially increase distress at individual banking organizations. The final rule applies to certain large U.S. depository institution holding companies, depository institutions, and U.S. intermediate holding companies of foreign banking organizations, each with total consolidated assets of $100 billion or more, together with certain depository institution subsidiaries (together, covered companies). Under the final rule, the NSFR requirement increases in stringency based on risk-based measures of the top-tier covered company. U.S. depository institution holding companies and U.S. intermediate holding companies subject to the final rule are required to publicly disclose their NSFR and certain components of their NSFR every second and fourth calendar quarter for each of the two immediately preceding calendar quarters. The final rule also amends certain definitions in the agencies' liquidity coverage ratio rule that are also applicable to the NSFR.
Proposed Agency Information Collection Activities; Comment Request
Document Number: 2021-02375
Type: Notice
Date: 2021-02-05
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. 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 revise and extend the Consolidated Reports of Condition and Income (Call Reports) (FFIEC 031, FFIEC 041, and FFIEC 051), which are currently approved collections of information. The FFIEC has also approved the Board's publication for public comment, on behalf of the agencies, of a proposal to revise and extend the Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks (FFIEC 002) and the Report of Assets and Liabilities of a Non- U.S. Branch that is Managed or Controlled by a U.S. Branch or Agency of a Foreign (Non-U.S.) Bank (FFIEC 002S), which also are currently approved collections of information. The agencies are requesting comment on revisions to the reporting forms and instructions for the Call Reports and the FFIEC 002 related to the exclusion of sweep deposits and certain other deposits from reporting as brokered deposits, as indicated by the agencies in the Net Stable Funding Ratio (NSFR) final rule and by the FDIC in its Final Rule on Brokered Deposits and Interest Rate Restrictions (brokered deposits final rule), respectively. In addition, the agencies are proposing revisions to the Call Report and FFIEC 002 instructions addressing brokered deposits to align them with the brokered deposits final rule. The changes to the Call Reports and the FFIEC 002 are proposed to take effect as of the June 30, 2021, report date.
Transferred OTS Regulations Regarding Securities Offerings of State Savings Associations, Statement of Policy on the Use of Offering Circulars, Proposed Rulemaking Regarding Securities Offerings by State Nonmember Banks and State Savings Associations, and Other Technical Amendments
Document Number: 2021-02028
Type: Proposed Rule
Date: 2021-02-04
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
In order to streamline Federal Deposit Insurance Corporation (FDIC) regulations and guidance, the FDIC proposes to rescind and remove from the Code of Federal Regulations (CFR) rules entitled Securities Offerings that were transferred to the FDIC from the Office of Thrift Supervision (OTS) on July 21, 2011, in connection with the implementation of Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The FDIC also is proposing to rescind its Statement of Policy Regarding the Use of Offering Circulars in Connection with the Public Distribution of Bank Securities, which provides a guide for a State nonmember banks and other institutions in the preparation of offering circulars. At the same time, the FDIC is proposing a new regulation regarding securities disclosures to be made by State nonmember banks and State savings associations (FDIC- supervised institutions). In so doing, the FDIC would create a unified scheme for securities disclosure requirements applicable to FDIC- supervised institutions. The proposal also would include technical amendments to update related regulations.
Removal of Transferred OTS Regulations Regarding Prompt Corrective Action Directives and Conforming Amendments to Other Regulations
Document Number: 2020-28455
Type: Rule
Date: 2021-02-03
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (FDIC) is adopting a final rule to rescind and remove from the Code of Federal Regulations rules entitled ``Prompt Corrective Action'' that were transferred to the FDIC from the Office of Thrift Supervision (OTS) on July 21, 2011, in connection with the implementation of Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and amend certain sections of existing FDIC regulations governing the issuance and review of orders pursuant to the prompt corrective action provisions of the Federal Deposit Insurance Act to make it clear that such rules apply to all insured depository institutions for which the FDIC is the appropriate Federal banking agency.
Removal of Transferred OTS Regulations Regarding Certain Subordinate Organizations of State Savings Associations
Document Number: 2020-28454
Type: Rule
Date: 2021-02-03
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (FDIC) is adopting a final rule to rescind and remove rules from the Code of Federal Regulations (CFR) regulations titled Subordinate Organizations that were transferred to the FDIC from the Office of Thrift Supervision (OTS) on July 21, 2011, in connection with the implementation of Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) regarding subordinate organizations of State savings associations because the FDIC has determined that the requirements for State savings association subordinate organizations included therein are substantially similar to the requirements for State savings associations and their subsidiaries set forth by certain sections of the Federal Deposit Insurance Act (FDI Act) and its implementing regulations.
Removal of Transferred OTS Regulations Regarding Application Processing Procedures of State Savings Associations and Conforming Amendments to Other Regulations
Document Number: 2020-28453
Type: Rule
Date: 2021-02-03
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 to the FDIC from the Office of Thrift Supervision (OTS) in 2011 pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). These regulations generally concern the supervision and governance of State savings associations, including the application processing procedures for certain applications, notices and filings by State savings associations. In addition to the removal of our regulations, the FDIC is making technical changes to our regulations that do not currently apply to State savings associations. Following the rescission, the filing regulations pertaining to State savings associations and all other FDIC-supervised institutions will be substantially the same.
Removal of Transferred Office of Thrift Supervision (OTS) Regulations Regarding Nondiscrimination Requirements
Document Number: 2020-28452
Type: Rule
Date: 2021-02-03
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (FDIC) is rescinding and removing its regulation titled ``Nondiscrimination Requirements'' and amending its regulation titled ``Fair Housing'' to make it applicable to State savings associations. These actions will streamline the FDIC's rules by eliminating unnecessary, inconsistent, and duplicative regulations, and ensure insured State nonmember banks and State savings associations generally will be subject to the same nondiscrimination requirements.
Guidelines for Appeals of Material Supervisory Determinations
Document Number: 2021-01547
Type: Notice
Date: 2021-01-25
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation has adopted revised Guidelines for Appeals of Material Supervisory Determinations to establish an independent office that would replace the existing Supervision Appeals Review Committee and to modify the procedures and timeframes for considering formal enforcement-related decisions through the supervisory appeals process.
Notice to All Interested Parties of Intent To Terminate Receivership
Document Number: 2021-01543
Type: Notice
Date: 2021-01-25
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Sunshine Act Meeting
Document Number: 2021-01545
Type: Notice
Date: 2021-01-22
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Sunshine Act Meeting; Notice of Meeting To Be Held With Less Than Seven Days Advance Notice
Document Number: 2021-01544
Type: Notice
Date: 2021-01-22
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Exemptions to Suspicious Activity Report Requirements
Document Number: 2021-00037
Type: Proposed Rule
Date: 2021-01-22
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is inviting comment on a proposed rule that would modify the requirements for FDIC-supervised institutions to file Suspicious Activity Reports (SARs). The proposed rule would amend the FDIC's SAR regulation to allow the FDIC to issue exemptions from the SAR requirements. The proposed rule would make it possible for the FDIC to grant relief to FDIC-supervised institutions that develop innovative solutions to meet Bank Secrecy Act (BSA) requirements more efficiently and effectively.
Unsafe and Unsound Banking Practices: Brokered Deposits and Interest Rate Restrictions
Document Number: 2020-28196
Type: Rule
Date: 2021-01-22
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is finalizing revisions to its regulations relating to the brokered deposits and interest rate restrictions that apply to less than well capitalized insured depository institutions. For brokered deposits, the final rule establishes a new framework for analyzing certain provisions of the ``deposit broker'' definition, including ``facilitating'' and ``primary purpose.'' For the interest rate restrictions, the FDIC is amending its methodology for calculating the national rate, the national rate cap, and the local market rate cap. Further, the FDIC is explaining when nonmaturity deposits are accepted and when nonmaturity deposits are solicited for purposes of applying the brokered deposits and interest rate restrictions.
Sunshine Act Meeting
Document Number: 2021-01369
Type: Notice
Date: 2021-01-21
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Computer-Security Incident Notification Requirements for Banking Organizations and Their Bank Service Providers
Document Number: 2020-28498
Type: Proposed Rule
Date: 2021-01-12
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, Board, and FDIC (together, the agencies) invite comment on a notice of proposed rulemaking (proposed rule or proposal) that would require a banking organization to provide its primary federal regulator with prompt notification of any ``computer-security incident'' that rises to the level of a ``notification incident.'' The proposed rule would require such notification upon the occurrence of a notification incident as soon as possible and no later than 36 hours after the banking organization believes in good faith that the incident occurred. This notification requirement is intended to serve as an early alert to a banking organization's primary federal regulator and is not intended to provide an assessment of the incident. Moreover, a bank service provider would be required to notify at least two individuals at affected banking organization customers immediately after the bank service provider experiences a computer-security incident that it believes in good faith could disrupt, degrade, or impair services provided for four or more hours.
FDIC Rules of Practice and Procedure; Technical Revisions
Document Number: 2020-27944
Type: Rule
Date: 2021-01-12
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (FDIC) is amending its rules of practice and procedure to codify the agency's longstanding practice of having certain adjudicative functions performed by an inferior officer of the United States appointed by the FDIC's Board of Directors (Board). Additionally, the FDIC is making other technical edits to its rules of practice and procedure to update references to certain positions within the FDIC Legal Division whose titles are outdated.
Collection of Civil Money Penalty Debt
Document Number: 2020-27955
Type: Rule
Date: 2021-01-11
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (FDIC) is amending the FDIC's Procedures for Corporate Debt Collection to include delinquent civil money penalties within the debt covered by those procedures.
Regulatory Capital Treatment for Investments in Certain Unsecured Debt Instruments of Global Systemically Important U.S. Bank Holding Companies, Certain Intermediate Holding Companies, and Global Systemically Important Foreign Banking Organizations; Total Loss-Absorbing Capacity Requirements
Document Number: 2020-27046
Type: Rule
Date: 2021-01-06
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
The OCC, Board, and FDIC (collectively, the agencies) are adopting a final rule that applies to advanced approaches banking organizations with the aim of reducing both interconnectedness within the financial system and systemic risks. The final rule requires deduction from a banking organization's regulatory capital for certain investments in unsecured debt instruments issued by foreign or U.S. global systemically important banking organizations (GSIBs) for the purposes of meeting minimum total loss-absorbing capacity (TLAC) requirements and, where applicable, long-term debt requirements, or for investments in unsecured debt instruments issued by GSIBs that are pari passu or subordinated to such debt instruments. In addition, the Board is adopting changes to its TLAC rules to clarify requirements and correct drafting errors.
Notice of Inflation Adjustments for Civil Money Penalties
Document Number: 2020-29175
Type: Notice
Date: 2021-01-05
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: 2020-28116
Type: Rule
Date: 2020-12-23
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System
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'' and ``intermediate small bank.'' 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).
Guidance for Resolution Plan Submissions of Certain Foreign-Based Covered Companies
Document Number: 2020-28155
Type: Notice
Date: 2020-12-22
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System
The Board and the FDIC (together, the agencies) are adopting this final guidance for the 2021 and subsequent resolution plan submissions by certain foreign banking organizations (FBOs). The final 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 (Dodd- Frank Act). The final guidance reflects a number of changes to the proposal in response to comments received by the agencies and further analysis by the agencies. The scope of application of the final guidance is FBOs that are Category II firms according to their combined U.S. operations under the Board's tailoring ruleand are required to have a U.S. intermediate holding company (IHC) under the Board's Regulation YY (the Specified FBOs) as published in 84 FR 59032 (November 1, 2019). In addition to the three firms(Barclays PLC, Credit Suisse Group AG, and Deutsche Bank AG (the Proposed FBOs) that would have been within the scope of application under the methodology utilized in the proposal, one additional firm, Mitsubishi UFJ Financial Group, Inc. (MUFG), is within the scope for application of the final guidance at the time of its issuance. Consequently, MUFG will have a transition period to consider the application of the final guidance to its resolution plan submission, as further described below. The final guidance describes the agencies' expectations regarding a number of key vulnerabilities in plans for an orderly resolution under the U.S. Bankruptcy Code (i.e., capital, liquidity, governance mechanisms, operational, branches, legal entity rationalization, and derivatives and trading activities). The final guidance modifies and clarifies certain aspects of the proposed guidance based on the agencies' consideration of comments to the proposal, additional analysis, and further assessment of the business and risk profiles of the U.S. operations of large and complex FBOs.
Notice to All Interested Parties of Intent To Terminate Receiverships
Document Number: 2020-28134
Type: Notice
Date: 2020-12-22
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Sunshine Act Notice of Meeting To Be Held With Less Than Seven Days Advance Notice
Document Number: 2020-27995
Type: Notice
Date: 2020-12-21
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Proposed Agency Information Collection Activities; Comment Request
Document Number: 2020-27847
Type: Notice
Date: 2020-12-18
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. 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 revise and extend the Consolidated Reports of Condition and Income (Call Reports) (FFIEC 031, FFIEC 041, and FFIEC 051), which are currently approved collections of information. The agencies are requesting comment on a change to the Call Report forms and instructions (FFIEC 031 and FFIEC 041 only) to implement the FDIC's proposed amendments to the deposit insurance assessment system applicable to all large insured depository institutions (IDIs), including highly complex IDIs, to address the temporary deposit insurance assessment effects resulting from certain optional regulatory capital transition provisions relating to the implementation of the current expected credit losses (CECL) methodology. The change to the Call Reports would enable the FDIC to remove the double counting of a specified portion of the CECL transitional amount or the modified CECL transitional amount, as applicable (collectively, the CECL transitional amounts), in certain financial measures that are calculated using the sum of Tier 1 capital and reserves and that are used to determine assessment rates for large and highly complex IDIs.
Sunshine Act Meetings
Document Number: 2020-27991
Type: Notice
Date: 2020-12-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Sunshine Act Meetings
Document Number: 2020-27700
Type: Notice
Date: 2020-12-15
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
FDIC Advisory Committee on Economic Inclusion; Notice of Charter Renewal
Document Number: 2020-27108
Type: Notice
Date: 2020-12-10
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Pursuant to the provisions of the Federal Advisory Committee Act (``FACA''), and after consultation with the General Services Administration, the Chairman of the Federal Deposit Insurance Corporation has determined that renewal of the FDIC Advisory Committee on Economic Inclusion (``the Committee'') is in the public interest in connection with the performance of duties imposed upon the FDIC by law. The Committee has been a successful undertaking by the FDIC and has provided valuable feedback to the agency on important initiatives focused on expanding access to banking services for underserved populations. The Committee will continue to provide advice and recommendations on initiatives to expand access to banking services for underserved populations. The Committee will continue to review various issues that may include, but not be limited to, basic retail financial services such as low-cost, sustainable transaction accounts, savings accounts, small dollar lending, prepaid cards, money orders, remittances, the use of new technologies, and other services to promote access to the mainstream banking system, asset accumulation, and financial stability. The structure and responsibilities of the Committee are unchanged from when it was originally established in November 2006. The Committee will continue to operate in accordance with the provisions of the Federal Advisory Committee Act.
Notice to All Interested Parties of Intent to Terminate Receiverships
Document Number: 2020-27066
Type: Notice
Date: 2020-12-10
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Assessments, Amendments To Address the Temporary Deposit Insurance Assessment Effects of the Optional Regulatory Capital Transitions for Implementing the Current Expected Credit Losses Methodology
Document Number: 2020-25830
Type: Proposed Rule
Date: 2020-12-07
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation is seeking comment on a proposed rule that would amend the risk-based deposit insurance assessment system applicable to all large insured depository institutions (IDIs), including highly complex IDIs, to address the temporary deposit insurance assessment effects resulting from certain optional regulatory capital transition provisions relating to the implementation of the current expected credit losses (CECL) methodology. The proposal would amend the assessment regulations to remove the double counting of a specified portion of the CECL transitional amount or the modified CECL transition amount, as applicable (collectively, the CECL transitional amounts), in certain financial measures that are calculated using the sum of Tier 1 capital and reserves and that are used to determine assessment rates for large and highly complex IDIs. The proposal also would adjust the calculation of the loss severity measure to remove the double counting of a specified portion of the CECL transitional amounts for a large or highly complex IDI. This proposal would not affect regulatory capital or the regulatory capital relief provided in the form of transition provisions that allow banking organizations to phase in the effects of CECL on their regulatory capital ratios.
Agency Information Collection Activities: Proposed Revision of Information Collection; Survey of Household Use of Banking and Financial Services; Comment Request (3064-NEW)
Document Number: 2020-26572
Type: Notice
Date: 2020-12-02
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 survey collection instrument for its seventh biennial survey of households, which has been renamed the Survey of Household Use of Banking and Financial Services ``Household Survey''). This survey was previously named the FDIC National Survey of Unbanked and Underbanked Households and was assigned OMB Control No. 3064-0167. FDIC is seeking a new OMB Control Number for this version of the survey. The 2021 Household Survey is scheduled to be conducted in partnership with the U.S. Census Bureau as a supplement to its June 2021 Current Population Survey (CPS). The survey collects information on U.S. households' use of bank accounts, other transaction accounts including prepaid cards and online payment services, nonbank financial transaction services, and bank and nonbank credit. The results of these biennial surveys will be published in the FDIC's How America Banks reports which help inform policymakers, bankers, and researchers about how households use, or don't use, the banking system.
Temporary Asset Thresholds
Document Number: 2020-26138
Type: Rule
Date: 2020-12-02
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
To mitigate temporary transition costs on banking organizations related to the coronavirus disease 2019 (COVID event), the OCC, Board, and the FDIC (together, the agencies) are issuing an interim final rule to permit national banks, savings associations, state banks, bank holding companies, savings and loan holding companies, and U.S. branches and agencies of foreign banking organizations with under $10 billion in total assets as of December 31, 2019, (community banking organizations) to use asset data as of December 31, 2019, in order to determine the applicability of various regulatory asset thresholds during calendar years 2020 and 2021. For the same reasons, the Board is temporarily revising the instructions to a number of its regulatory reports to provide that community banking organizations may use asset data as of December 31, 2019, in order to determine reporting requirements for reports due in calendar years 2020 or 2021.
Proposed Agency Information Collection Activities; Comment Request
Document Number: 2020-26388
Type: Notice
Date: 2020-11-30
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
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. 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 revise and extend the Consolidated Reports of Condition and Income (Call Reports) (FFIEC 031, FFIEC 041, and FFIEC 051), which are currently approved collections of information. The agencies are requesting comment on an adjustment to the measurement date for certain total asset thresholds that trigger additional reporting requirements in the Call Reports for report dates in 2021 only due to institution asset growth in 2020 related to participation in various coronavirus disease 2019 (COVID-19) related stimulus activities.
Agency Information Collection Activities: Submission for OMB Review; Comment Request
Document Number: 2020-26323
Type: Notice
Date: 2020-11-30
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. The FDIC published notices in the Federal Register requesting comment for 60 days on a proposal to renew these information collections. 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 the renewal.