PRESS RELEASE
Federal Deposit Insurance Corporation
October 30, 1997
Media Contact:
David Barr (202-898-6992)
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-79-97
FDIC PUBLISHES SEMIANNUAL AGENDA OF REGULATIONS
FOR IMMEDIATE RELEASE
The Federal Deposit Insurance Corporation has published its semiannual agenda of
regulations in the Federal Register to inform the public of the Corporation's regulatory
actions and encourage participation in the rulemaking process.
Many of the actions are the result of the FDIC Board's ongoing efforts to reduce the
regulatory burden on banks, simplify rules, improve efficiency and comply with the
Riegle Community Development and Regulatory Improvement Act of 1994.
The agenda contains 31 regulatory actions. Seven actions have been completed and
the rest are in various stages of the rulemaking process. Highlights follow.
• The FDIC Board in September 1997 proposed to substantially expedite the
processing of applications filed by well-managed, well-capitalized institutions.
This would allow the FDIC to focus its resources on applications that do not
qualify for the new expedited review process, making them more likely to present
a risk to safety and soundness and compliance concerns. The Board has also
proposed simplifying and streamlining its application rules. (12 CFR 303)
• The Board proposed in September 1997 to consolidate regulations governing
activities and investments of insured state banks, savings associations and
subsidiaries of state nonmember banks. This action would provide a
comprehensive view of the FDIC's safety and soundness concerns regarding the
institutions' activities and investments, and a framework for the FDIC to
determine risks to the insurance funds. (12 CFR 362)
Federal Deposit Insurance Corporation
October 30, 1997
Media Contact:
David Barr (202-898-6992)
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-79-97
FDIC PUBLISHES SEMIANNUAL AGENDA OF REGULATIONS
FOR IMMEDIATE RELEASE
The Federal Deposit Insurance Corporation has published its semiannual agenda of
regulations in the Federal Register to inform the public of the Corporation's regulatory
actions and encourage participation in the rulemaking process.
Many of the actions are the result of the FDIC Board's ongoing efforts to reduce the
regulatory burden on banks, simplify rules, improve efficiency and comply with the
Riegle Community Development and Regulatory Improvement Act of 1994.
The agenda contains 31 regulatory actions. Seven actions have been completed and
the rest are in various stages of the rulemaking process. Highlights follow.
• The FDIC Board in September 1997 proposed to substantially expedite the
processing of applications filed by well-managed, well-capitalized institutions.
This would allow the FDIC to focus its resources on applications that do not
qualify for the new expedited review process, making them more likely to present
a risk to safety and soundness and compliance concerns. The Board has also
proposed simplifying and streamlining its application rules. (12 CFR 303)
• The Board proposed in September 1997 to consolidate regulations governing
activities and investments of insured state banks, savings associations and
subsidiaries of state nonmember banks. This action would provide a
comprehensive view of the FDIC's safety and soundness concerns regarding the
institutions' activities and investments, and a framework for the FDIC to
determine risks to the insurance funds. (12 CFR 362)
• In June 1997, the Board proposed permitting well-managed state nonmember
banks with international operations to undertake a number of new activities
without filing a formal application. Also proposed is clarifying and simplifying
regulations governing international operations. (12 CFR 347)
• In August 1997, the Board asked for public comment on its proposal to ease
limits on the volume of mortgage servicing assets that FDIC-supervised banks
can recognize in calculating Tier 1 capital. This action would reduce the burden
on banks by relaxing the capital limitation on mortgage servicing assets. (12 CFR
325)
• The Board in July 1997 approved a final action on fair housing, reducing the
burden on insured state nonmember banks in the areas of advertising, poster
and recordkeeping requirements. (12 CFR 338)
Attached is a copy of the Semiannual Regulatory Agenda that appeared in the October
29, 1997, Federal Register, which contains all 31 final or proposed rule changes.
Last Updated 07/14/1999
banks with international operations to undertake a number of new activities
without filing a formal application. Also proposed is clarifying and simplifying
regulations governing international operations. (12 CFR 347)
• In August 1997, the Board asked for public comment on its proposal to ease
limits on the volume of mortgage servicing assets that FDIC-supervised banks
can recognize in calculating Tier 1 capital. This action would reduce the burden
on banks by relaxing the capital limitation on mortgage servicing assets. (12 CFR
325)
• The Board in July 1997 approved a final action on fair housing, reducing the
burden on insured state nonmember banks in the areas of advertising, poster
and recordkeeping requirements. (12 CFR 338)
Attached is a copy of the Semiannual Regulatory Agenda that appeared in the October
29, 1997, Federal Register, which contains all 31 final or proposed rule changes.
Last Updated 07/14/1999