Federal Deposit Insurance Corporation December 2010 – Federal Register Recent Federal Regulation Documents

The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) propose to: Amend the advanced risk-based capital adequacy standards (advanced approaches rules) \1\ to be consistent with certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act) \2\ and amend the general risk-based capital rules \3\ to provide limited flexibility consistent with section 171(b) of the Act for recognizing the relative risk of certain assets generally not held by depository institutions.

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 https:// www.fdic.gov/bank/individual/failed/banklist.html or contact the Manager of Receivership Oversight in the appropriate service center.

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 a continuing information collection, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35). On September 27, 2010 (75 FR 59263), the FDIC solicited public comment for a 60-day period on renewal of the following information collection: Interagency Guidance on Sound Incentive Compensation Practices. (3064-0175). No comments were received. Therefore, the FDIC hereby gives notice of its submission of its request for renewal to OMB for review.

The OCC, the Board, the FDIC, and the OTS (collectively, ``the agencies'') are adopting revisions to our rules implementing the Community Reinvestment Act (CRA). The agencies are revising the term ``community development'' to include loans, investments, and services by financial institutions that support, enable, or facilitate projects or activities that meet the ``eligible uses'' criteria described in Section 2301(c) of the Housing and Economic Recovery Act of 2008 (HERA), as amended, and are conducted in designated target areas identified in plans approved by the United States Department of Housing and Urban Development (HUD) under the Neighborhood Stabilization Program (NSP). The final rule provides favorable CRA consideration of such activities that, pursuant to the requirements of the program, benefit low-, moderate-, and middle-income individuals and geographies in NSP target areas designated as ``areas of greatest need.'' Covered activities are considered both within an institution's assessment area(s) and outside of its assessment area(s), as long as the institution has adequately addressed the community development needs of its assessment area(s). Favorable consideration under the revised rule will be available until no later than two years after the last date appropriated funds for the program are required to be spent by the grantees. The agencies will provide reasonable advance notice to institutions in the Federal Register regarding termination of the rule once a date certain has been identified.

In accordance with requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), the FDIC 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 control number. The FDIC hereby gives notice that it is seeking public comment on renewal of four information collections described below.

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 extension of a continuing information collection, as required by the Paperwork Reduction Act of 1995. The FDIC may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. Currently, the FDIC is soliciting comment concerning the proposed extension of OMB approval of its information collection, entitled ``Community Reinvestment Act,'' OMB Control No. 3064-0092.