53181Federal Register / Vol. 72, No. 180 / Tuesday, September 18, 2007 / Proposed Rules
Subpart—West Indian Fruit Fly
[Removed]
7. Subpart—West Indian Fruit Fly,
consisting of §§ 301.98 through 301.98–
10, is removed.
Subpart—Sapote Fruit Fly [Removed]
8. Subpart—Sapote Fruit Fly,
consisting of §§ 301.99 through 301.99–
10, is removed.
PART 305—PHYTOSANITARY
TREATMENTS
9. The authority citation for part 305
continues to read as follows:
Authority: 7 U.S.C. 7701–7772 and 7781–
7786; 21 U.S.C. 136 and 136a; 7 CFR 2.22,
2.80, and 371.3.
10. In § 305.2, the table in paragraph
(h)(2)(ii) is amended by removing, in the
entry for ‘‘Areas in the United States
under Federal quarantine for the listed
pest’’, the entries for ‘‘Any fruit listed in
§ 301.64–2(a) of this chapter’’ and ‘‘Any
article listed in § 301.78–2(a) of this
chapter’’ and adding a new entry in
their place to read as set forth below.
§ 305.2 Approved treatments.
* * * * *
(h) * * *
(2) * * *
(ii) * * *
Location Commodity Pest Treatment
schedule
Areas in the United States under Federal
quarantine for the listed pest.
* * * * * *
Any fruit or article listed in § 301.32–2(a)
of this chapter.
All fruit fly species of the Family
Tephritidae.
IR.
* * * * * *
*
*
* * * * *
§ 305.32 [Amended]
11. Section 305.32 is amended as
follows:
a. In the introductory text, by
removing the word ‘‘fruit’’ and adding
the words ‘‘berry, fruit, nut, or
vegetable’’ in its place, and by removing
the citation ‘‘§ 301.64–2(a)’’ and adding
the citation ‘‘§ 301.32–2(a)’’ in its place.
b. In paragraph (a)(1), by removing the
words ‘‘Mexican fruit fly’’ and adding
the words ‘‘the fruit fly of concern’’ in
their place, and by removing the words
‘‘the fruit’’ and adding the words ‘‘the
regulated articles’’ in their place.
c. In paragraph (a)(2), by removing the
words ‘‘fruit, except that fruit’’ and
adding the words ‘‘regulated articles,
except that articles’’ in their place.
d. In paragraph (a)(3), by removing the
citation ‘‘§ 301.64–6’’ and adding the
citation ‘‘§ 301.32–6’’ in its place.
e. In paragraph (d), by removing the
words ‘‘Mexican fruit fly’’ and adding
the words ‘‘the fruit fly of concern’’ in
their place.
f. In paragraph (e)(2), by removing the
words ‘‘Mexican fruit fly’’ and adding
the words ‘‘the fruit fly of concern’’ in
their place.
g. In paragraph (i), by removing the
words ‘‘Mexican fruit fly’’ and adding
the words ‘‘fruit flies’’ in their place,
and by adding the words ‘‘and
vegetables’’ after the word ‘‘fruits’’.
§ 305.33 [Removed and reserved]
12. Section 305.33 is removed and
reserved.
Done in Washington, DC, this 12th day of
September 2007.
Kevin Shea,
Acting Administrator, Animal and Plant
Health Inspection Service.
[FR Doc. E7–18316 Filed 9–17–07; 8:45 am]
BILLING CODE 3410–34–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 327
RIN 3064–AD19
Assessment Dividends
AGENCY: Federal Deposit Insurance
Corporation (FDIC).
ACTION: Advance notice of proposed
rulemaking (ANPR).
SUMMARY: The FDIC is seeking
comments on alternative methods for
allocating dividends as part of a
permanent final rule to implement the
dividend requirements of the Federal
Deposit Insurance Reform Act of 2005
(Reform Act) and the Federal Deposit
Insurance Reform Conforming
Amendments Act of 2005 (Amendments
Act). The existing FDIC regulations on
assessment dividends will expire on
December 31, 2008.
DATES: Comments must be submitted on
or before November 19, 2007.
ADDRESSES: You may submit comments
by any of the following methods:
• Agency Web Site: http://
www.fdic.gov/regulations/laws/federal.
Follow instructions for submitting
comments on the Agency Web Site.
• E-mail: Comments@FDIC.gov.
Include ‘‘ANPR on Assessment
Dividends’’ in the subject line of the
message.
• Mail: Robert E. Feldman, Executive
Secretary, Attention: Comments, Federal
Deposit Insurance Corporation, 550 17th
Street, NW., Washington, DC 20429.
• Hand Delivery/Courier: 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.
(EST).
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
Public Inspection: All comments
received will be posted without change
to http://www.fdic.gov/regulations/laws/
federal including any personal
information provided. Comments may
be inspected and photocopied in the
FDIC Public Information Center, 3501
North Fairfax Drive, Room E–1002,
Arlington, VA 22226, between 9 a.m.
and 5 p.m. (EST) on business days.
Paper copies of public comments may
be ordered from the Public Information
Center by telephone at (877) 275–3342
or (703) 562–2200.
FOR FURTHER INFORMATION CONTACT:
Munsell W. St. Clair, Senior Policy
Analyst, Division of Insurance and
Research, (202) 898–8967 or
mstclair@fdic.gov; Missy Craig, Senior
Program Analyst, Division of Insurance
and Research, (202) 898–8724 or
mcraig@fdic.gov; or Joseph A. DiNuzzo,
Counsel, Legal Division, (202) 898–7349
or jdinuzzo@fdic.gov.
SUPPLEMENTARY INFORMATION:
I. Background
In October 2006, the FDIC issued a
temporary final rule to implement the
dividend requirements of the Reform
VerDate Aug<31>2005 18:58 Sep 17, 2007 Jkt 211001 PO 00000 Frm 00011 Fmt 4702 Sfmt 4702 E:\FR\FM\18SEP1.SGM 18SEP1
rwilkins on PROD1PC63 with PROPOSALS
Subpart—West Indian Fruit Fly
[Removed]
7. Subpart—West Indian Fruit Fly,
consisting of §§ 301.98 through 301.98–
10, is removed.
Subpart—Sapote Fruit Fly [Removed]
8. Subpart—Sapote Fruit Fly,
consisting of §§ 301.99 through 301.99–
10, is removed.
PART 305—PHYTOSANITARY
TREATMENTS
9. The authority citation for part 305
continues to read as follows:
Authority: 7 U.S.C. 7701–7772 and 7781–
7786; 21 U.S.C. 136 and 136a; 7 CFR 2.22,
2.80, and 371.3.
10. In § 305.2, the table in paragraph
(h)(2)(ii) is amended by removing, in the
entry for ‘‘Areas in the United States
under Federal quarantine for the listed
pest’’, the entries for ‘‘Any fruit listed in
§ 301.64–2(a) of this chapter’’ and ‘‘Any
article listed in § 301.78–2(a) of this
chapter’’ and adding a new entry in
their place to read as set forth below.
§ 305.2 Approved treatments.
* * * * *
(h) * * *
(2) * * *
(ii) * * *
Location Commodity Pest Treatment
schedule
Areas in the United States under Federal
quarantine for the listed pest.
* * * * * *
Any fruit or article listed in § 301.32–2(a)
of this chapter.
All fruit fly species of the Family
Tephritidae.
IR.
* * * * * *
*
*
* * * * *
§ 305.32 [Amended]
11. Section 305.32 is amended as
follows:
a. In the introductory text, by
removing the word ‘‘fruit’’ and adding
the words ‘‘berry, fruit, nut, or
vegetable’’ in its place, and by removing
the citation ‘‘§ 301.64–2(a)’’ and adding
the citation ‘‘§ 301.32–2(a)’’ in its place.
b. In paragraph (a)(1), by removing the
words ‘‘Mexican fruit fly’’ and adding
the words ‘‘the fruit fly of concern’’ in
their place, and by removing the words
‘‘the fruit’’ and adding the words ‘‘the
regulated articles’’ in their place.
c. In paragraph (a)(2), by removing the
words ‘‘fruit, except that fruit’’ and
adding the words ‘‘regulated articles,
except that articles’’ in their place.
d. In paragraph (a)(3), by removing the
citation ‘‘§ 301.64–6’’ and adding the
citation ‘‘§ 301.32–6’’ in its place.
e. In paragraph (d), by removing the
words ‘‘Mexican fruit fly’’ and adding
the words ‘‘the fruit fly of concern’’ in
their place.
f. In paragraph (e)(2), by removing the
words ‘‘Mexican fruit fly’’ and adding
the words ‘‘the fruit fly of concern’’ in
their place.
g. In paragraph (i), by removing the
words ‘‘Mexican fruit fly’’ and adding
the words ‘‘fruit flies’’ in their place,
and by adding the words ‘‘and
vegetables’’ after the word ‘‘fruits’’.
§ 305.33 [Removed and reserved]
12. Section 305.33 is removed and
reserved.
Done in Washington, DC, this 12th day of
September 2007.
Kevin Shea,
Acting Administrator, Animal and Plant
Health Inspection Service.
[FR Doc. E7–18316 Filed 9–17–07; 8:45 am]
BILLING CODE 3410–34–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 327
RIN 3064–AD19
Assessment Dividends
AGENCY: Federal Deposit Insurance
Corporation (FDIC).
ACTION: Advance notice of proposed
rulemaking (ANPR).
SUMMARY: The FDIC is seeking
comments on alternative methods for
allocating dividends as part of a
permanent final rule to implement the
dividend requirements of the Federal
Deposit Insurance Reform Act of 2005
(Reform Act) and the Federal Deposit
Insurance Reform Conforming
Amendments Act of 2005 (Amendments
Act). The existing FDIC regulations on
assessment dividends will expire on
December 31, 2008.
DATES: Comments must be submitted on
or before November 19, 2007.
ADDRESSES: You may submit comments
by any of the following methods:
• Agency Web Site: http://
www.fdic.gov/regulations/laws/federal.
Follow instructions for submitting
comments on the Agency Web Site.
• E-mail: Comments@FDIC.gov.
Include ‘‘ANPR on Assessment
Dividends’’ in the subject line of the
message.
• Mail: Robert E. Feldman, Executive
Secretary, Attention: Comments, Federal
Deposit Insurance Corporation, 550 17th
Street, NW., Washington, DC 20429.
• Hand Delivery/Courier: 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.
(EST).
• Federal eRulemaking Portal: http://
www.regulations.gov. Follow the
instructions for submitting comments.
Public Inspection: All comments
received will be posted without change
to http://www.fdic.gov/regulations/laws/
federal including any personal
information provided. Comments may
be inspected and photocopied in the
FDIC Public Information Center, 3501
North Fairfax Drive, Room E–1002,
Arlington, VA 22226, between 9 a.m.
and 5 p.m. (EST) on business days.
Paper copies of public comments may
be ordered from the Public Information
Center by telephone at (877) 275–3342
or (703) 562–2200.
FOR FURTHER INFORMATION CONTACT:
Munsell W. St. Clair, Senior Policy
Analyst, Division of Insurance and
Research, (202) 898–8967 or
mstclair@fdic.gov; Missy Craig, Senior
Program Analyst, Division of Insurance
and Research, (202) 898–8724 or
mcraig@fdic.gov; or Joseph A. DiNuzzo,
Counsel, Legal Division, (202) 898–7349
or jdinuzzo@fdic.gov.
SUPPLEMENTARY INFORMATION:
I. Background
In October 2006, the FDIC issued a
temporary final rule to implement the
dividend requirements of the Reform
VerDate Aug<31>2005 18:58 Sep 17, 2007 Jkt 211001 PO 00000 Frm 00011 Fmt 4702 Sfmt 4702 E:\FR\FM\18SEP1.SGM 18SEP1
rwilkins on PROD1PC63 with PROPOSALS
53182 Federal Register / Vol. 72, No. 180 / Tuesday, September 18, 2007 / Proposed Rules
1 71 FR 61385 (October 18, 2006).
2 The Reform Act was included as Title II,
Subtitle B, of the Deficit Reduction Act of 2005,
Public Law 109–171, 120 Stat. 9, which was signed
into law by the President on February 8, 2006.
3 12 U.S.C. 1817(e)(2).
4 This provision would allow the FDIC’s Board to
suspend or limit dividends in circumstances where
the reserve ratio has exceeded 1.5 percent, if the
Board made a determination to continue a
suspension or limitation that it had imposed
initially when the reserve ratio was between 1.35
and 1.5 percent.
Act.1 At the time, the FDIC stated its
intention to initiate a second, more
comprehensive notice-and-comment
rulemaking on dividends beginning
with an advance notice of proposed
rulemaking to explore alternative
methods for distributing future
dividends after the temporary dividend
rules expire on December 31, 2008.
The possibility of a dividend before
the temporary rule expires appears
remote. In fact, because the FDIC has the
ability to lower assessment rates below
the base assessment rate schedule (2 to
4 basis points for institutions in Risk
Category I), the FDIC can, if it chooses,
reduce the probability of a dividend
occurring thereafter.
Reform Act Requirements
The Federal Deposit Insurance Act
(FDI Act), as amended by the Reform
Act,2 requires that the FDIC, under most
circumstances, declare dividends from
the Deposit Insurance Fund (DIF or
fund) when the reserve ratio at the end
of a calendar year exceeds 1.35 percent,
but is no greater than 1.5 percent.3 In
that event, the FDIC generally must
declare one-half of the amount in the
DIF in excess of the amount required to
maintain the reserve ratio at 1.35
percent as dividends to be paid to
insured depository institutions.
However, the FDIC’s Board of Directors
(Board) may suspend or limit dividends
to be paid, if the Board determines in
writing, after taking a number of
statutory factors into account, that:
1. The DIF faces a significant risk of
losses over the next year; and
2. It is likely that such losses will be
sufficiently high as to justify a finding
by the Board that the reserve ratio
should temporarily be allowed to grow
without requiring dividends when the
reserve ratio is between 1.35 and 1.5
percent or exceeds 1.5 percent.4
In addition, the statute requires that
the FDIC, except in certain limited
circumstances, declare a dividend from
the DIF when the reserve ratio at the
end of a calendar year exceeds 1.5
percent. In that event, the FDIC
generally must declare the amount in
the DIF in excess of the amount required
to maintain the reserve ratio at 1.5
5 The dividend regulation must also include
provisions allowing a bank or thrift a reasonable
opportunity to challenge administratively the
amount of dividends it is awarded. Any review by
the FDIC pursuant to these administrative
procedures is final and not subject to judicial
review.
6 71 FR 28804 (May 18, 2006).
percent as dividends to be paid to
insured depository institutions.
The FDI Act directs the FDIC to
consider each insured depository
institution’s relative contribution to the
DIF (or any predecessor deposit
insurance fund) when calculating an
institution’s share of any dividend.
More specifically, when allocating
dividends, the Board must consider:
1. The ratio of the assessment base of
an insured depository institution
(including any predecessor) on
December 31, 1996, to the assessment
base of all eligible insured depository
institutions on that date (the 1996
assessment base ratio);
2. The total amount of assessments
paid on or after January 1, 1997, by an
insured depository institution
(including any predecessor) to the DIF
(and any predecessor fund);
3. That portion of assessments paid by
7 12 CFR 327.53.
8 Appendix A describes the two methods in more
detail, using formulas.
review the FDIC’s determination of the
institution’s dividend amount and how
an institution may appeal DOF’s
response to that request. In the
temporary final rule, the FDIC adopted
a simple system for allocating any
dividends that might be declared during
the two-year duration of the regulation.
Any dividends awarded before January
1, 2009, will be distributed in
proportion to an institution’s 1996
assessment base ratio, as determined
pursuant to the one-time assessment
credit rule.7
The sole focus of this ANPR is on the
type of assessment dividend allocation
method that the FDIC should adopt.
Whether and how the FDIC should
retain or revise the other aspects of the
temporary final rule (such as the
timetable for determining and paying
dividends and institutions’ requests for
review) will be addressed in the notice
of proposed rulemaking that will follow
the ANPR.
II. Alternative Methods
The ANPR presents two general
approaches to allocating dividends—the
fund balance method and the payments
method. These methods are described
below.8
The allocation methods potentially
differ most significantly in the way they
balance two of the statutory factors that
the FDIC must consider when allocating
dividends—institutions’ relative 1996
assessment bases and assessments paid
after 1996—and, thus, in the way each
method treats older versus newer
institutions. The fund balance method
implicitly balances the two factors; the
payments method requires explicit
decision making.
‘‘Older’’ and ‘‘Newer’’ Institutions
In this context, the terms ‘‘older’’ and
‘‘newer’’ do not simply refer to age. For
purposes of this ANPR, the smaller an
institution’s 1996 assessment base is
compared to its current assessment base,
the ‘‘newer’’ it is. Thus, an institution
that was chartered after 1996 and had
no 1996 assessment base is a newer
institution. An institution chartered
before 1996 that has since grown
greatly—and whose 1996 assessment
base is, therefore, small compared to its
current assessment base—is also a
newer institution. Conversely, the larger
an institution’s 1996 assessment base is
compared to its current assessment base,
the ‘‘older’’ it is.
an insured depository institution
(including any predecessor) that reflects
higher levels of risk assumed by the
institution; and
4. Such other factors as the Board
deems appropriate.
The statute does not define the term
‘‘predecessor’’ (of a depository
institution) for purposes of distributing
dividends. Predecessor deposit
insurance funds are the Bank Insurance
Fund (BIF) and the Savings Association
Insurance Fund (SAIF), as those were
the deposit insurance funds that existed
after 1996 until their merger into the
DIF pursuant to the Reform Act. The
merger was effective March 31, 2006.
Among other things, the statute
expressly requires the FDIC to prescribe
by regulation the method for
calculating, declaring, and paying
dividends.5 In May 2006 the FDIC
issued a proposed rule to implement the
dividend requirements of the Reform
Act.6 After considering the comments
received on the proposed rule, the FDIC,
as noted above, issued a temporary final
rule on assessment dividends, with a
sunset date of December 31, 2008.
The Temporary Final Rule
The temporary final rule mirrors the
dividend provisions of the Reform Act,
provides definitions (including the
definition of a ‘‘predecessor’’ depository
institution) to implement the statute and
details how an institution may request
the FDIC’s Division of Finance (DOF) to
VerDate Aug<31>2005 18:58 Sep 17, 2007 Jkt 211001 PO 00000 Frm 00012 Fmt 4702 Sfmt 4702 E:\FR\FM\18SEP1.SGM 18SEP1
rwilkins on PROD1PC63 with PROPOSALS
1 71 FR 61385 (October 18, 2006).
2 The Reform Act was included as Title II,
Subtitle B, of the Deficit Reduction Act of 2005,
Public Law 109–171, 120 Stat. 9, which was signed
into law by the President on February 8, 2006.
3 12 U.S.C. 1817(e)(2).
4 This provision would allow the FDIC’s Board to
suspend or limit dividends in circumstances where
the reserve ratio has exceeded 1.5 percent, if the
Board made a determination to continue a
suspension or limitation that it had imposed
initially when the reserve ratio was between 1.35
and 1.5 percent.
Act.1 At the time, the FDIC stated its
intention to initiate a second, more
comprehensive notice-and-comment
rulemaking on dividends beginning
with an advance notice of proposed
rulemaking to explore alternative
methods for distributing future
dividends after the temporary dividend
rules expire on December 31, 2008.
The possibility of a dividend before
the temporary rule expires appears
remote. In fact, because the FDIC has the
ability to lower assessment rates below
the base assessment rate schedule (2 to
4 basis points for institutions in Risk
Category I), the FDIC can, if it chooses,
reduce the probability of a dividend
occurring thereafter.
Reform Act Requirements
The Federal Deposit Insurance Act
(FDI Act), as amended by the Reform
Act,2 requires that the FDIC, under most
circumstances, declare dividends from
the Deposit Insurance Fund (DIF or
fund) when the reserve ratio at the end
of a calendar year exceeds 1.35 percent,
but is no greater than 1.5 percent.3 In
that event, the FDIC generally must
declare one-half of the amount in the
DIF in excess of the amount required to
maintain the reserve ratio at 1.35
percent as dividends to be paid to
insured depository institutions.
However, the FDIC’s Board of Directors
(Board) may suspend or limit dividends
to be paid, if the Board determines in
writing, after taking a number of
statutory factors into account, that:
1. The DIF faces a significant risk of
losses over the next year; and
2. It is likely that such losses will be
sufficiently high as to justify a finding
by the Board that the reserve ratio
should temporarily be allowed to grow
without requiring dividends when the
reserve ratio is between 1.35 and 1.5
percent or exceeds 1.5 percent.4
In addition, the statute requires that
the FDIC, except in certain limited
circumstances, declare a dividend from
the DIF when the reserve ratio at the
end of a calendar year exceeds 1.5
percent. In that event, the FDIC
generally must declare the amount in
the DIF in excess of the amount required
to maintain the reserve ratio at 1.5
5 The dividend regulation must also include
provisions allowing a bank or thrift a reasonable
opportunity to challenge administratively the
amount of dividends it is awarded. Any review by
the FDIC pursuant to these administrative
procedures is final and not subject to judicial
review.
6 71 FR 28804 (May 18, 2006).
percent as dividends to be paid to
insured depository institutions.
The FDI Act directs the FDIC to
consider each insured depository
institution’s relative contribution to the
DIF (or any predecessor deposit
insurance fund) when calculating an
institution’s share of any dividend.
More specifically, when allocating
dividends, the Board must consider:
1. The ratio of the assessment base of
an insured depository institution
(including any predecessor) on
December 31, 1996, to the assessment
base of all eligible insured depository
institutions on that date (the 1996
assessment base ratio);
2. The total amount of assessments
paid on or after January 1, 1997, by an
insured depository institution
(including any predecessor) to the DIF
(and any predecessor fund);
3. That portion of assessments paid by
7 12 CFR 327.53.
8 Appendix A describes the two methods in more
detail, using formulas.
review the FDIC’s determination of the
institution’s dividend amount and how
an institution may appeal DOF’s
response to that request. In the
temporary final rule, the FDIC adopted
a simple system for allocating any
dividends that might be declared during
the two-year duration of the regulation.
Any dividends awarded before January
1, 2009, will be distributed in
proportion to an institution’s 1996
assessment base ratio, as determined
pursuant to the one-time assessment
credit rule.7
The sole focus of this ANPR is on the
type of assessment dividend allocation
method that the FDIC should adopt.
Whether and how the FDIC should
retain or revise the other aspects of the
temporary final rule (such as the
timetable for determining and paying
dividends and institutions’ requests for
review) will be addressed in the notice
of proposed rulemaking that will follow
the ANPR.
II. Alternative Methods
The ANPR presents two general
approaches to allocating dividends—the
fund balance method and the payments
method. These methods are described
below.8
The allocation methods potentially
differ most significantly in the way they
balance two of the statutory factors that
the FDIC must consider when allocating
dividends—institutions’ relative 1996
assessment bases and assessments paid
after 1996—and, thus, in the way each
method treats older versus newer
institutions. The fund balance method
implicitly balances the two factors; the
payments method requires explicit
decision making.
‘‘Older’’ and ‘‘Newer’’ Institutions
In this context, the terms ‘‘older’’ and
‘‘newer’’ do not simply refer to age. For
purposes of this ANPR, the smaller an
institution’s 1996 assessment base is
compared to its current assessment base,
the ‘‘newer’’ it is. Thus, an institution
that was chartered after 1996 and had
no 1996 assessment base is a newer
institution. An institution chartered
before 1996 that has since grown
greatly—and whose 1996 assessment
base is, therefore, small compared to its
current assessment base—is also a
newer institution. Conversely, the larger
an institution’s 1996 assessment base is
compared to its current assessment base,
the ‘‘older’’ it is.
an insured depository institution
(including any predecessor) that reflects
higher levels of risk assumed by the
institution; and
4. Such other factors as the Board
deems appropriate.
The statute does not define the term
‘‘predecessor’’ (of a depository
institution) for purposes of distributing
dividends. Predecessor deposit
insurance funds are the Bank Insurance
Fund (BIF) and the Savings Association
Insurance Fund (SAIF), as those were
the deposit insurance funds that existed
after 1996 until their merger into the
DIF pursuant to the Reform Act. The
merger was effective March 31, 2006.
Among other things, the statute
expressly requires the FDIC to prescribe
by regulation the method for
calculating, declaring, and paying
dividends.5 In May 2006 the FDIC
issued a proposed rule to implement the
dividend requirements of the Reform
Act.6 After considering the comments
received on the proposed rule, the FDIC,
as noted above, issued a temporary final
rule on assessment dividends, with a
sunset date of December 31, 2008.
The Temporary Final Rule
The temporary final rule mirrors the
dividend provisions of the Reform Act,
provides definitions (including the
definition of a ‘‘predecessor’’ depository
institution) to implement the statute and
details how an institution may request
the FDIC’s Division of Finance (DOF) to
VerDate Aug<31>2005 18:58 Sep 17, 2007 Jkt 211001 PO 00000 Frm 00012 Fmt 4702 Sfmt 4702 E:\FR\FM\18SEP1.SGM 18SEP1
rwilkins on PROD1PC63 with PROPOSALS