Friday,
May 19, 2000
Part II
Department of the
Treasury
Office of the Comptroller of the
Currency
Office of the Thrift Supervision
Federal Reserve System
Federal Deposit
Insurance Corporation
12 CFR Parts 35, 207, 346, 533
Disclosure and Reporting of CRA-Related
Agreements; Proposed Rule
VerDate 11<MAY>2000 17:55 May 18, 2000 Jkt 190000 PO 00000 Frm 00001 Fmt 4717 Sfmt 4717 E:\FR\FM\19MYP2.SGM pfrm01 PsN: 19MYP2
May 19, 2000
Part II
Department of the
Treasury
Office of the Comptroller of the
Currency
Office of the Thrift Supervision
Federal Reserve System
Federal Deposit
Insurance Corporation
12 CFR Parts 35, 207, 346, 533
Disclosure and Reporting of CRA-Related
Agreements; Proposed Rule
VerDate 11<MAY>2000 17:55 May 18, 2000 Jkt 190000 PO 00000 Frm 00001 Fmt 4717 Sfmt 4717 E:\FR\FM\19MYP2.SGM pfrm01 PsN: 19MYP2
31962 Federal Register / Vol. 65, No. 98 / Friday, May 19, 2000 / Proposed Rules
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Part 35
[Docket No. 00–11]
RIN 1557–AB85
FEDERAL RESERVE SYSTEM
12 CFR Part 207
[Regulation G; Docket No. R–1069]
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 346
RIN 3064–AC33
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
12 CFR Part 533
[Docket No. 2000–44]
RIN 1550–AB32
Disclosure and Reporting of CRA-
Related Agreements
AGENCIES: Office of the Comptroller of
the Currency (OCC); Board of Governors
of the Federal Reserve System (Board);
Federal Deposit Insurance Corporation
(FDIC); Office of Thrift Supervision
(OTS).
ACTION: Joint notice of proposed
rulemaking.
SUMMARY: The OCC, Board, FDIC, and
OTS (collectively, the agencies) are
requesting comment on a proposed rule
that implements provisions of the
recently enacted Gramm-Leach-Bliley
Act (the GLB Act or the Act). These
provisions require nongovernmental
entities or persons, insured depository
institutions, and affiliates of insured
depository institutions that are parties
to certain agreements that are in
fulfillment of the Community
Reinvestment Act of 1977 to make the
agreements available to the public and
the appropriate agency and file annual
reports concerning the agreements with
the appropriate agency. These
provisions are contained in section 711
of the Act and are codified as section 48
of the Federal Deposit Insurance Act
(FDI Act).
The rule identifies the types of
written agreements that are covered by
section 711 of the GLB Act (referred to
as covered agreements) and defines
many of the terms used in the statute.
The rule also describes how the parties
to a covered agreement must make the
agreement available to the public and
the appropriate agencies and explains
the type of information that must be
included in the annual report filed by a
party to a covered agreement.
The agencies solicit comments on all
aspects of the proposed rule, including
the specific areas discussed below. The
agencies will issue a final rule after
considering comments received.
DATES: Comments must be received on
or before July 21, 2000.
ADDRESSES:
OCC: Comments should be addressed
to Communications Division, Office of
the Comptroller of the Currency, 250 E
Street, SW, Third floor, Washington, DC
20219, Attention: Docket No. 00–11. In
addition, comments may be sent by
facsimile transmission to fax number
(202) 874–5274 or by Internet mail to
regs.comments@occ.treas.gov.
Comments will be available for public
inspection and photocopying at the
same location.
Board: Comments directed to the
Board should refer to Docket No. R–
1069 and may be mailed to Ms. Jennifer
J. Johnson, Secretary, Board of
Governors of the Federal Reserve
System, 20th and C Streets, NW,
Washington, DC 20551 or mailed
electronically to
regs.comments@federalreserve.gov.
Comments addressed to Ms. Johnson
also may be delivered to the Board’s
mailroom between 8:45 a.m. and 5:15
p.m. and, outside those hours, to the
security control room. Both the
mailroom and the security control room
are accessible from the Eccles Building
courtyard entrance, located on 20th
Street between Constitution Avenue and
C Street, NW. Members of the public
may inspect comments in room MP–500
of the Martin Building between 9:00
a.m. and 5 p.m. on weekdays.
FDIC: Written comments should be
addressed to Robert E. Feldman,
Executive Secretary, Attention:
Comments/OES, Federal Deposit
Insurance Corporation, 550 17th Street,
NW, Washington, DC 20429. Comments
may be hand delivered to the guard
station at the rear of the 550 17th Street
Building (located on F Street) on
business days between 7 a.m. and 5 p.m.
(Fax number: (202) 898–3838).
Comments may be inspected and
photocopied in the FDIC Public
Information Center, Room 100, 801 17th
Street, NW, Washington, DC, between 9
a.m. and 4:30 p.m. on business days.
Comments may be submitted
electronically over the Internet at
www.fdic.gov. Further information
concerning this option may be found
below at the ‘‘FDIC’s Electronic Public
Comment Site.’’ Comments also may be
mailed electronically to
comments@fdic.gov.
OTS: Send comments to Manager,
Dissemination Branch, Information
Management & Services Division, Office
of Thrift Supervision, 1700 G Street,
NW, Washington, DC 20552, Attention
Docket No. 2000–44. Hand deliver
comments to Public Reference Room,
1700 G Street, NW, lower level, from 9
a.m. to 5 p.m. on business days. Send
facsimile transmissions to FAX number
(202) 906–7755 or (202) 906–6959 (if the
comment is over 25 pages). Send e-mails
to public.info@ots.treas.gov and include
your name and telephone number.
Interested persons may inspect
comments at 1700 G Street, NW, from
10 a.m. until 4 p.m. on Tuesdays and
Thursdays.
FOR FURTHER INFORMATION CONTACT:
OCC: Michael S. Bylsma, Director,
Community and Consumer Law (202)
874–5750; or Karen O. Solomon,
Director, Legislative and Regulatory
Activities (202) 874–5090.
Board: Scott G. Alvarez, Associate
General Counsel (202) 452–3583, Kieran
J. Fallon, Senior Counsel (202) 452–
5270, or Andrew Miller, Senior
Attorney (202) 452–3428, Legal
Division; Glenn E. Loney, Deputy
Director (202) 452–3585, or James H.
Mann, Attorney (202) 452–3667,
Division of Consumer and Community
Affairs; Board of Governors of the
Federal Reserve System, 20th Street and
Constitution Avenue, NW, Washington,
DC 20551. For users of
Telecommunications Device for the Deaf
(‘‘TDD’’) only, contact Janice Simms at
(202) 452–4984.
FDIC: Deanna S. Caldwell,
Community Affairs Officer (202) 736–
0141; A. Ann Johnson, Counsel,
Regulation and Legislation Section (202)
898–3573; or Joan M. Bateman, Review
Examiner (202) 736–0187.
OTS: Richard Bennett, Counsel
(Banking and Finance), (202) 906–7409;
Karen Osterloh, Assistant Chief
Counsel, (202) 906–6639; or Richard R.
Riese, Director, Compliance Policy,
(202) 906–6134, Office of Thrift
Supervision, 1700 G Street, NW,
Washington, DC 20552.
SUPPLEMENTARY INFORMATION:
I. Executive Summary of Proposed Rule
Section 711 of the GLB Act (Pub. L.
106–102, 113 Stat. 1338 (1999)) added a
new section 48 to the FDI Act (12 U.S.C.
1831y) entitled ‘‘CRA Sunshine
Requirements.’’ Section 711 applies to
written agreements that (1) are made in
VerDate 11<MAY>2000 17:55 May 18, 2000 Jkt 190000 PO 00000 Frm 00002 Fmt 4701 Sfmt 4702 E:\FR\FM\19MYP2.SGM pfrm01 PsN: 19MYP2
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Part 35
[Docket No. 00–11]
RIN 1557–AB85
FEDERAL RESERVE SYSTEM
12 CFR Part 207
[Regulation G; Docket No. R–1069]
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 346
RIN 3064–AC33
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
12 CFR Part 533
[Docket No. 2000–44]
RIN 1550–AB32
Disclosure and Reporting of CRA-
Related Agreements
AGENCIES: Office of the Comptroller of
the Currency (OCC); Board of Governors
of the Federal Reserve System (Board);
Federal Deposit Insurance Corporation
(FDIC); Office of Thrift Supervision
(OTS).
ACTION: Joint notice of proposed
rulemaking.
SUMMARY: The OCC, Board, FDIC, and
OTS (collectively, the agencies) are
requesting comment on a proposed rule
that implements provisions of the
recently enacted Gramm-Leach-Bliley
Act (the GLB Act or the Act). These
provisions require nongovernmental
entities or persons, insured depository
institutions, and affiliates of insured
depository institutions that are parties
to certain agreements that are in
fulfillment of the Community
Reinvestment Act of 1977 to make the
agreements available to the public and
the appropriate agency and file annual
reports concerning the agreements with
the appropriate agency. These
provisions are contained in section 711
of the Act and are codified as section 48
of the Federal Deposit Insurance Act
(FDI Act).
The rule identifies the types of
written agreements that are covered by
section 711 of the GLB Act (referred to
as covered agreements) and defines
many of the terms used in the statute.
The rule also describes how the parties
to a covered agreement must make the
agreement available to the public and
the appropriate agencies and explains
the type of information that must be
included in the annual report filed by a
party to a covered agreement.
The agencies solicit comments on all
aspects of the proposed rule, including
the specific areas discussed below. The
agencies will issue a final rule after
considering comments received.
DATES: Comments must be received on
or before July 21, 2000.
ADDRESSES:
OCC: Comments should be addressed
to Communications Division, Office of
the Comptroller of the Currency, 250 E
Street, SW, Third floor, Washington, DC
20219, Attention: Docket No. 00–11. In
addition, comments may be sent by
facsimile transmission to fax number
(202) 874–5274 or by Internet mail to
regs.comments@occ.treas.gov.
Comments will be available for public
inspection and photocopying at the
same location.
Board: Comments directed to the
Board should refer to Docket No. R–
1069 and may be mailed to Ms. Jennifer
J. Johnson, Secretary, Board of
Governors of the Federal Reserve
System, 20th and C Streets, NW,
Washington, DC 20551 or mailed
electronically to
regs.comments@federalreserve.gov.
Comments addressed to Ms. Johnson
also may be delivered to the Board’s
mailroom between 8:45 a.m. and 5:15
p.m. and, outside those hours, to the
security control room. Both the
mailroom and the security control room
are accessible from the Eccles Building
courtyard entrance, located on 20th
Street between Constitution Avenue and
C Street, NW. Members of the public
may inspect comments in room MP–500
of the Martin Building between 9:00
a.m. and 5 p.m. on weekdays.
FDIC: Written comments should be
addressed to Robert E. Feldman,
Executive Secretary, Attention:
Comments/OES, Federal Deposit
Insurance Corporation, 550 17th Street,
NW, Washington, DC 20429. Comments
may be hand delivered to the guard
station at the rear of the 550 17th Street
Building (located on F Street) on
business days between 7 a.m. and 5 p.m.
(Fax number: (202) 898–3838).
Comments may be inspected and
photocopied in the FDIC Public
Information Center, Room 100, 801 17th
Street, NW, Washington, DC, between 9
a.m. and 4:30 p.m. on business days.
Comments may be submitted
electronically over the Internet at
www.fdic.gov. Further information
concerning this option may be found
below at the ‘‘FDIC’s Electronic Public
Comment Site.’’ Comments also may be
mailed electronically to
comments@fdic.gov.
OTS: Send comments to Manager,
Dissemination Branch, Information
Management & Services Division, Office
of Thrift Supervision, 1700 G Street,
NW, Washington, DC 20552, Attention
Docket No. 2000–44. Hand deliver
comments to Public Reference Room,
1700 G Street, NW, lower level, from 9
a.m. to 5 p.m. on business days. Send
facsimile transmissions to FAX number
(202) 906–7755 or (202) 906–6959 (if the
comment is over 25 pages). Send e-mails
to public.info@ots.treas.gov and include
your name and telephone number.
Interested persons may inspect
comments at 1700 G Street, NW, from
10 a.m. until 4 p.m. on Tuesdays and
Thursdays.
FOR FURTHER INFORMATION CONTACT:
OCC: Michael S. Bylsma, Director,
Community and Consumer Law (202)
874–5750; or Karen O. Solomon,
Director, Legislative and Regulatory
Activities (202) 874–5090.
Board: Scott G. Alvarez, Associate
General Counsel (202) 452–3583, Kieran
J. Fallon, Senior Counsel (202) 452–
5270, or Andrew Miller, Senior
Attorney (202) 452–3428, Legal
Division; Glenn E. Loney, Deputy
Director (202) 452–3585, or James H.
Mann, Attorney (202) 452–3667,
Division of Consumer and Community
Affairs; Board of Governors of the
Federal Reserve System, 20th Street and
Constitution Avenue, NW, Washington,
DC 20551. For users of
Telecommunications Device for the Deaf
(‘‘TDD’’) only, contact Janice Simms at
(202) 452–4984.
FDIC: Deanna S. Caldwell,
Community Affairs Officer (202) 736–
0141; A. Ann Johnson, Counsel,
Regulation and Legislation Section (202)
898–3573; or Joan M. Bateman, Review
Examiner (202) 736–0187.
OTS: Richard Bennett, Counsel
(Banking and Finance), (202) 906–7409;
Karen Osterloh, Assistant Chief
Counsel, (202) 906–6639; or Richard R.
Riese, Director, Compliance Policy,
(202) 906–6134, Office of Thrift
Supervision, 1700 G Street, NW,
Washington, DC 20552.
SUPPLEMENTARY INFORMATION:
I. Executive Summary of Proposed Rule
Section 711 of the GLB Act (Pub. L.
106–102, 113 Stat. 1338 (1999)) added a
new section 48 to the FDI Act (12 U.S.C.
1831y) entitled ‘‘CRA Sunshine
Requirements.’’ Section 711 applies to
written agreements that (1) are made in
VerDate 11<MAY>2000 17:55 May 18, 2000 Jkt 190000 PO 00000 Frm 00002 Fmt 4701 Sfmt 4702 E:\FR\FM\19MYP2.SGM pfrm01 PsN: 19MYP2