Agency Information Collection Activities; Proposed Renewal of Information Collection; Comment Request Concerning the Interagency Bank Merger Act Application
The OCC, Board, FDIC, and OTS (Agencies), as part of their continuing effort to reduce paperwork and respondent burden, invite the general public and other Federal agencies to comment on a proposed renewal of a continuing information collection, as required by the Paperwork Reduction Act of 1995. 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 Agencies are reviewing the general instructions for the information collection. The Agencies are soliciting comments on how the instructions might be clarified. There would be no new or changed information requirements associated with the editorial changes to the instructions.
Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice
The OCC, Board, FDIC, and OTS (the Agencies) are publishing an interpretation of the Gramm-Leach-Bliley Act (GLBA) and the Interagency Guidelines Establishing Information Security Standards (Security Guidelines).\1\ This interpretive guidance, titled ``Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice'' (final Guidance), is being published as a supplement to the Security Guidelines in the Code of Federal Regulations in order to make the interpretation more accessible to financial institutions and to the general public. The final Guidance will clarify the responsibilities of financial institutions under applicable Federal law. OTS is also making a conforming, technical change to its Security Procedures Rule.
Community Reinvestment Act Regulations
The OCC, Board, FDIC, and OTS (collectively, ``we'' or ``the agencies'') are adopting, in final form, without change, the joint interim rule that was published for comment in the Federal Register on July 8, 2004. This joint final rule conforms our regulations implementing the Community Reinvestment Act (CRA) to changes in: the Standards for Defining Metropolitan and Micropolitan Statistical Areas published by the U.S. Office of Management and Budget (OMB) in December 2000; census tracts designated by the U.S. Census Bureau (Census); and the Board's Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). The joint final rule also makes a technical correction to a cross-reference within our CRA regulations. This joint final rule does not make substantive changes to the requirements of the CRA regulations, and it is identical to the joint interim final rule adopted by the agencies.
Interagency Proposal on the Classification of Commercial Credit Exposures
The OCC, Board, FDIC, and OTS (the agencies) request comment on their proposal to revise the classification system for commercial credit exposures. The proposal will replace the current commercial loan classification system categories ``special mention,'' ``substandard,'' and ``doubtful'' with a two-dimensional based framework. The proposed framework would be used by institutions and supervisors for the uniform classification of commercial and industrial loans; leases; receivables; mortgages; and other extensions of credit made for business purposes by federally insured depository institutions and their subsidiaries (institutions), based on an assessment of borrower creditworthiness and estimated loss severity. The proposed framework would not modify the interagency classification of retail credit as stated in the ``Uniform Retail Credit Classification and Account Management Policy Statement,'' issued in February 2000. However, by creating a new treatment for commercial loan exposures, the proposed framework would modify Part I of the ``Revised Uniform Agreement on the Classification of Assets and Appraisal of Securities Held by Banks and Thrifts' issued in June 2004. This proposal is intended to enhance the methodology used to systematically assess the level of credit risk posed by individual commercial extensions of credit and the level of an institution's aggregate commercial credit risk.
Joint Report: Differences in Accounting and Capital Standards Among the Federal Banking Agencies; Report to Congressional Committees
The OCC, Board, FDIC, and OTS (the Agencies) have prepared this report pursuant to section 37(c) of the Federal Deposit Insurance Act (12 U.S.C. 1831n(c)). 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.
Community Reinvestment Act Regulations
The OCC, Board, and FDIC (collectively, ``federal banking agencies'' or ``the Agencies'') are issuing this notice of proposed rulemaking that would revise certain provisions of our rules implementing the Community Reinvestment Act (CRA). We plan to take this action in response to public comments received by the federal banking agencies and the Office of Thrift Supervision (OTS) on a February 2004 inter-agency CRA proposal and by the FDIC on its August 2004 CRA proposal. The current proposal would address regulatory burden imposed on some smaller banks by revising the eligibility requirements for CRA evaluation under the lending, investment, and service tests. Specifically, the proposal would provide a simplified lending test and a flexible new community development test for small banks with an asset size between $250 million and $1 billion. Holding company affiliation would not be a factor in determining which CRA evaluation standards applied to a bank. In addition, the proposal would revise the term ``community development'' to include certain community development activities, including affordable housing, in underserved rural areas and designated disaster areas.
Proposed Agency Information Collection Activities; Comment Request
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 proposed revisions to the Consolidated Reports of Condition and Income (Call Report), which are currently approved collections of information. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the FFIEC and the agencies should modify the proposed revisions prior to giving final approval. The agencies will then submit the revisions to OMB for review and approval.