FDII NEWS RELEASE
FEDERAL DEPOSIT INSURANCE CORPORATION
FOR IMMEDIATE RELEASE PR-202-87 (10-27-87)
FDIC PUBLISHES SEMIANNUAL AGENDA OF REGULATIONS
The Federal Deposit Insurance Corporation has published the FDIC's
semiannual agenda of regulations to inform the public of its regulatory
actions and to enhance public participation in the rulemaking process.
The published agenda reflects 16 final or potential changes to the FDIC's
regulations: six items in the prerule stage at the time of publication; two
items in the proposed rule stage; four items in the final rule stage; and
four completed actions.
The FDIC submitted the semiannual agenda to the Regulatory Information
Service Center on August 27, 1987, for inclusion in the Unified Agenda of
Federal Regulations. Since that date, the FDIC Board of Directors proposed
one interim regulation that was not included in the FDIC's agenda. The
interim regulation was issued in conformance with Title VIII of the
Competitive Equality Banking Act, which relates to the amortization of farm
loan losses by agricultural banks over a seven-year period. The interim rule
establishes eligibility requirements and application procedures for banks in
distressed agricultural regions of the country that are interested in
amortizing farm loan losses.
In another action since the semiannual agenda was published, the FDIC
Board adopted amendments to its capital regulation that, among other things,
revise and clarify the definitions of "assets classified loss," "subordinated
note or debenture," and "tota1 assets." The amendments are ident i ca1 .except
for certain refinements to those issued for public comment earlier this year.
-more-
FEDERAL DEPOSIT INSURANCE CORPORATION, 550 Seventeenth St., N.W., Washington, D.C. 20429 • 202-898-6996
FEDERAL DEPOSIT INSURANCE CORPORATION
FOR IMMEDIATE RELEASE PR-202-87 (10-27-87)
FDIC PUBLISHES SEMIANNUAL AGENDA OF REGULATIONS
The Federal Deposit Insurance Corporation has published the FDIC's
semiannual agenda of regulations to inform the public of its regulatory
actions and to enhance public participation in the rulemaking process.
The published agenda reflects 16 final or potential changes to the FDIC's
regulations: six items in the prerule stage at the time of publication; two
items in the proposed rule stage; four items in the final rule stage; and
four completed actions.
The FDIC submitted the semiannual agenda to the Regulatory Information
Service Center on August 27, 1987, for inclusion in the Unified Agenda of
Federal Regulations. Since that date, the FDIC Board of Directors proposed
one interim regulation that was not included in the FDIC's agenda. The
interim regulation was issued in conformance with Title VIII of the
Competitive Equality Banking Act, which relates to the amortization of farm
loan losses by agricultural banks over a seven-year period. The interim rule
establishes eligibility requirements and application procedures for banks in
distressed agricultural regions of the country that are interested in
amortizing farm loan losses.
In another action since the semiannual agenda was published, the FDIC
Board adopted amendments to its capital regulation that, among other things,
revise and clarify the definitions of "assets classified loss," "subordinated
note or debenture," and "tota1 assets." The amendments are ident i ca1 .except
for certain refinements to those issued for public comment earlier this year.
-more-
FEDERAL DEPOSIT INSURANCE CORPORATION, 550 Seventeenth St., N.W., Washington, D.C. 20429 • 202-898-6996
Since the agenda was published, the Board also approved amendments to its
securities rules (12· CFR 337). The revised rules governing the securities
activities of nonmember banks ease restrictions on the sharing of facilities,
names and logos by banks and their securities subsidiaries or affiliates.
As part of the same regulatory revision, the FDIC Board also established
new disclosure requirements which will assure that consumers are informed the
securities sold by a bank affiliate or subsidiary are not insured by the FDIC.
The FDIC has selected for its Regulation Review Program rules that relate
to: hearings on terminating deposit insurance, cease and desist orders and
civil money penalties; determination of insurance coverage; and branches of
foreign banks.
Other outstanding proposals and regulations under development would:
Eliminate home equity loans, as well as home improvement, maintenance
and repair loans from certain data-gathering requirements; and,
Require state nonmember commercial and savings banks to provide basic
information about themselves to shareholders, borrowers, depositors and others
to whom they offer banking services.
The semi-annual agenda summarizes each topic and lists the name and
telephone number of a staff member who can provide further information about a
specific rule. The full text of the agenda appears in the October 26, 1987,
Federal Register. Copies also are available from the FDIC Corporate
Communications Office, 550 17th Street, N.W., Washington, D.C. 20429.
###
securities rules (12· CFR 337). The revised rules governing the securities
activities of nonmember banks ease restrictions on the sharing of facilities,
names and logos by banks and their securities subsidiaries or affiliates.
As part of the same regulatory revision, the FDIC Board also established
new disclosure requirements which will assure that consumers are informed the
securities sold by a bank affiliate or subsidiary are not insured by the FDIC.
The FDIC has selected for its Regulation Review Program rules that relate
to: hearings on terminating deposit insurance, cease and desist orders and
civil money penalties; determination of insurance coverage; and branches of
foreign banks.
Other outstanding proposals and regulations under development would:
Eliminate home equity loans, as well as home improvement, maintenance
and repair loans from certain data-gathering requirements; and,
Require state nonmember commercial and savings banks to provide basic
information about themselves to shareholders, borrowers, depositors and others
to whom they offer banking services.
The semi-annual agenda summarizes each topic and lists the name and
telephone number of a staff member who can provide further information about a
specific rule. The full text of the agenda appears in the October 26, 1987,
Federal Register. Copies also are available from the FDIC Corporate
Communications Office, 550 17th Street, N.W., Washington, D.C. 20429.
###