Federal Deposit Insurance Corporation November 2015 – Federal Register Recent Federal Regulation Documents

Regulatory Publication and Review Under the Economic Growth and Regulatory Paperwork Reduction Act of 1996
Document Number: 2015-30247
Type: Proposed Rule
Date: 2015-11-30
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
The OCC, Board, and FDIC (together ``we'' or ``Agencies'') announce the sixth and final outreach meeting on the Agencies' interagency process to review their regulations under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (``EGRPRA'').
Margin and Capital Requirements for Covered Swap Entities
Document Number: 2015-28671
Type: Rule
Date: 2015-11-30
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency
The OCC, Board, FDIC, FCA, and FHFA (each an ``Agency'' and, collectively, the ``Agencies'') are adopting a joint rule 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 final rule implements sections 731 and 764 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2015 (``TRIPRA''). Sections 731 and 764 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.
Margin and Capital Requirements for Covered Swap Entities
Document Number: 2015-28670
Type: Rule
Date: 2015-11-30
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency
The OCC, Board, FDIC, FCA, and FHFA (each an ``Agency'' and, collectively, the ``Agencies'') are adopting and invite comment on an interim final rule that will exempt certain non-cleared swaps and non- cleared security-based swaps with certain counterparties that qualify for an exception or exemption from clearing from the initial and variation margin requirements promulgated under sections 731 and 764 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the ``Dodd-Frank Act'' or the ``Act''). This interim final rule implements Title III of the Terrorism Risk Insurance Program Reauthorization Act of 2015 (``TRIPRA''), which exempts from the Agencies' swap margin rules non-cleared swaps and non-cleared security-based swaps in which a counterparty qualifies for an exemption or exception from clearing under the Dodd-Frank Act. This interim final rule is a companion rule to the final rules adopted by the Agencies to implement section 731 and 764 of the Dodd-Frank Act.
Treatment of Financial Assets Transferred in Connection With a Securitization or Participation
Document Number: 2015-29821
Type: Proposed Rule
Date: 2015-11-25
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The FDIC is proposing a rule that would revise a provision of its Securitization Safe Harbor Rule, which relates to the treatment of financial assets transferred in connection with a securitization or participation, in order to clarify a requirement as to loss mitigation by servicers of residential mortgage loans.
Treatment of Financial Assets Transferred in Connection With a Securitization or Participation
Document Number: 2015-29822
Type: Rule
Date: 2015-11-24
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (the ``FDIC'') is issuing a final rule (the ``Final Rule'') that revises certain provisions of its securitization safe harbor rule, which relates to the treatment of financial assets transferred in connection with a securitization or participation, in order to clarify the requirements of the securitization safe harbor as to the retention of an economic interest in the credit risk of securitized financial assets in connection with the effectiveness of the credit risk retention regulations adopted under Section 15G of the Securities Exchange Act.
Notice of Termination; 10454 The Royal Palm Bank of Florida, Naples, FL
Document Number: 2015-29541
Type: Notice
Date: 2015-11-19
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Notice of Termination, 10472 Gold Canyon Bank, Gold Canyon, Arizona
Document Number: 2015-29526
Type: Notice
Date: 2015-11-19
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Agency Information Collection Activities: Submission for OMB Review; Joint Comment Request
Document Number: 2015-29410
Type: Notice
Date: 2015-11-18
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 (PRA) of 1995 (44 U.S.C. chapter 35), the OCC, the Board, and the FDIC (collectively, 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 OMB control number. On July 29, 2015, the agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), published a notice in the Federal Register (80 FR 45274) and requested public comment for 60 days on a proposal to extend, with revision, the Foreign Branch Report of Condition (FFIEC 030 and FFIEC 030S), which is a currently approved information collection for each agency. The comment period for this notice expired on September 28, 2015. The agencies did not receive any comments addressing the proposed changes and are now submitting a request to OMB for review and approval of the extension, with revision, of the FFIEC 030 and FFIEC 030S.
Agency Information Collection; Submission for OMB Review; Joint Comment Request; Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies
Document Number: 2015-28369
Type: Notice
Date: 2015-11-06
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Securities and Exchange Commission, Department of the Treasury, Bureau of Consumer Financial Protection
The OCC, FDIC, CFPB, and SEC (each, an Agency and collectively, the Agencies) have submitted to OMB a request for approval under the PRA of the collection of information discussed below. The Board (also an Agency and included in Agencies) reviewed the joint notice under the authority delegated to the Board by OMB. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number.
Assessments
Document Number: 2015-27287
Type: Proposed Rule
Date: 2015-11-06
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Pursuant to the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and its authority under section 7 of the Federal Deposit Insurance Act (FDI Act), the FDIC proposes to impose a surcharge on the quarterly assessments of insured depository institutions with total consolidated assets of $10 billion or more. The surcharges would begin the calendar quarter after the reserve ratio of the Deposit Insurance Fund (DIF or fund) first reaches or exceeds 1.15 percentthe same time that lower regular deposit insurance assessment (regular assessment) rates take effect and would continue through the quarter that the reserve ratio first reaches or exceeds 1.35 percent. The surcharge would equal an annual rate of 4.5 basis points applied to the institution's assessment base (with certain adjustments). The FDIC expects that these surcharges will commence in 2016 and that they should be sufficient to raise the reserve ratio to 1.35 percent in approximately eight quarters, i.e., before the end of 2018. If, contrary to the FDIC's expectations, the reserve ratio does not reach 1.35 percent by December 31, 2018 (provided it is at least 1.15 percent), the FDIC would impose a shortfall assessment on insured depository institutions with total consolidated assets of $10 billion or more on March 31, 2019. Since the Dodd-Frank Act requires that the FDIC offset the effect of the increase in the reserve ratio from 1.15 percent to 1.35 percent on insured depository institutions with total consolidated assets of less than $10 billion, the FDIC would provide assessment credits to insured depository institutions with total consolidated assets of less than $10 billion for the portion of their regular assessments that contributed to growth in the reserve ratio between 1.15 percent and 1.35 percent. The FDIC would apply the credits each quarter that the reserve ratio is at least 1.40 percent to offset part of the assessments of each institution with credits.
Notice of Termination; 10414 Polk County Bank, Johnston, IA
Document Number: 2015-28243
Type: Notice
Date: 2015-11-05
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Notice of Termination; 10112 First Bank of Kansas City, Kansas City, Missouri
Document Number: 2015-28242
Type: Notice
Date: 2015-11-05
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Notice of Termination, 10461 First East Side Savings Bank, Tamarac, Florida
Document Number: 2015-27851
Type: Notice
Date: 2015-11-02
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Notice of Termination, 10466 Hometown Community Bank, Braselton, Georgia
Document Number: 2015-27850
Type: Notice
Date: 2015-11-02
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
Agency Information Collection Activities: Submission for OMB Review; Comment Request (3064-0072, -0093, -0095, -0117, -0145, -0152 & -0161)
Document Number: 2015-27836
Type: Notice
Date: 2015-11-02
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 the renewal of existing information collections, as required by the Paperwork Reduction Act of 1995. The FDIC recently requested comment for 60 days on proposals to renew the information collections described below. Only one comment was received, as explained below. 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 these renewals.