PRESS RELEASE
Federal Deposit Insurance Corporation
FOR IMMEDIATE RELEASE
May 22, 2002
Media Contact:
Jay Rosenstein (202) 898-7303
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-56-2002
FDIC PUBLISHES SEMIANNUAL AGENDA OF REGULATIONS
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, and improve efficiency. A number of the actions also have been
developed following the enactment of the financial services modernization law known as the
Gramm-Leach-Bliley Act. The agenda contains 22 regulatory actions in various stages of the
rulemaking process.
One such action is a final rule regarding risk-based capital guidelines issued in January 2002
jointly by the FDIC, the Federal Reserve Board (FRB), the Office of the Comptroller of the
Currency (OCC) and the Office of Thrift Supervision (OTS). The final rule amends risk-based
and leverage capital standards for banks and bank holding companies with respect to the
capital treatment of equity investments in nonfinancial companies. The rule deducts from Tier 1
capital certain percentages of the adjusted carrying value of all nonfinancial equity investments.
(12 CFR 325)
Another final action, published jointly in November 2001 by the FDIC, the FRB, the OCC and
the OTS, changed regulatory capital standards to address the treatment of recourse obligations
and direct credit substitutes that expose banking organizations to credit risk. The rule also
added new capital standards for residual interests. The revised rule primarily affects institutions
involved in securitization activities, and it is intended to result in more consistent risk-based
capital treatment of these transactions among the four agencies. (12 CFR 325)
Attached is a copy of the Semiannual Regulatory Agenda that appeared in the May 13,
2002, Federal Register.
###
Attachment: May 13, 2002, Federal Register
Federal Deposit Insurance Corporation
FOR IMMEDIATE RELEASE
May 22, 2002
Media Contact:
Jay Rosenstein (202) 898-7303
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-56-2002
FDIC PUBLISHES SEMIANNUAL AGENDA OF REGULATIONS
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, and improve efficiency. A number of the actions also have been
developed following the enactment of the financial services modernization law known as the
Gramm-Leach-Bliley Act. The agenda contains 22 regulatory actions in various stages of the
rulemaking process.
One such action is a final rule regarding risk-based capital guidelines issued in January 2002
jointly by the FDIC, the Federal Reserve Board (FRB), the Office of the Comptroller of the
Currency (OCC) and the Office of Thrift Supervision (OTS). The final rule amends risk-based
and leverage capital standards for banks and bank holding companies with respect to the
capital treatment of equity investments in nonfinancial companies. The rule deducts from Tier 1
capital certain percentages of the adjusted carrying value of all nonfinancial equity investments.
(12 CFR 325)
Another final action, published jointly in November 2001 by the FDIC, the FRB, the OCC and
the OTS, changed regulatory capital standards to address the treatment of recourse obligations
and direct credit substitutes that expose banking organizations to credit risk. The rule also
added new capital standards for residual interests. The revised rule primarily affects institutions
involved in securitization activities, and it is intended to result in more consistent risk-based
capital treatment of these transactions among the four agencies. (12 CFR 325)
Attached is a copy of the Semiannual Regulatory Agenda that appeared in the May 13,
2002, Federal Register.
###
Attachment: May 13, 2002, Federal Register