78153Federal Register / Vol. 73, No. 246 / Monday, December 22, 2008 / Rules and Regulations
consumers, AMS has determined that
the California walnut marketing order
should be continued. The order was
established to help the California
walnut industry work with USDA to
solve marketing problems. The order’s
regulations on grade and size, as well as
research and promotion, and collection
and dissemination of information
continue to be beneficial to producers,
handlers, and consumers.
AMS will continue to work with the
California walnut industry in
maintaining an effective marketing
order program.
Dated: December 16, 2008.
James E. Link,
Administrator, Agricultural Marketing
Service.
[FR Doc. E8–30309 Filed 12–19–08; 8:45 am]
BILLING CODE 3410–02–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Part 25
[Docket ID OCC–2008–0024]
RIN 1557–AD19
FEDERAL RESERVE SYSTEM
12 CFR Part 228
[Regulation BB; Docket No. R–1342]
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 345
RIN 3064–AD39
DEPARTMENT OF TREASURY
Office of Thrift Supervision
12 CFR Part 563e
[Docket ID OTS–2008–0021]
RIN 1550–AC29
Community Reinvestment Act
Regulations
AGENCIES: Office of the Comptroller of
the Currency, Treasury (OCC); Board of
Governors of the Federal Reserve
System (Board); Federal Deposit
Insurance Corporation (FDIC); Office of
Thrift Supervision, Treasury (OTS).
ACTION: Joint final rule; technical
amendment.
SUMMARY: The OCC, the Board, the
FDIC, and the OTS (collectively, the
‘‘agencies’’) are amending their
Community Reinvestment Act (CRA)
regulations to adjust the asset-size
thresholds used to define ‘‘small bank’’
or ‘‘small savings association’’ and
‘‘intermediate small bank’’ or
‘‘intermediate small savings
association.’’ As required by the CRA
regulations, the adjustment to the
threshold amount is based on the
annual percentage change in the
Consumer Price Index.
DATES: Effective Date: January 1, 2009.
FOR FURTHER INFORMATION CONTACT:
OCC: Margaret Hesse, Special Counsel,
Community and Consumer Law
Division, (202) 874–5750; or Karen
Tucker, National Bank Examiner,
Compliance Policy Division, (202) 874–
4428, Office of the Comptroller of the
Currency, 250 E Street, SW.,
Washington, DC 20219.
Board: Anjanette M. Kichline, Senior
Supervisory Consumer Financial
Services Analyst, (202) 785–6054; or
Brent Lattin, 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.
FDIC: Deirdre Foley, Senior Policy
Analyst, Division of Supervision and
Consumer Protection, Compliance
Policy Branch, (202) 898–6612; or Susan
van den Toorn, Counsel, Legal Division,
(202) 898–8707, Federal Deposit
Insurance Corporation, 550 17th Street,
NW., Washington, DC 20429.
OTS: Celeste Anderson, Senior Project
Manager, Compliance and Consumer
Protection, (202) 906–7990; or Richard
Bennett, Senior Compliance Counsel,
Regulations and Legislation Division,
(202) 906–7409, Office of Thrift
Supervision, 1700 G Street, NW.,
Washington, DC 20552.
SUPPLEMENTARY INFORMATION:
Background and Description of the
Joint Final Rule
The agencies’ CRA regulations
establish CRA performance standards
for small and intermediate small banks
and savings associations. The
regulations define small and
intermediate small institutions by
reference to asset-size criteria expressed
in dollar amounts, and they further
require the agencies to publish annual
adjustments to these dollar figures based
on the year-to-year change in the
average of the Consumer Price Index for
Urban Wage Earners and Clerical
Workers (CPIW), not seasonally
adjusted, for each twelve-month period
ending in November, with rounding to
the nearest million. 12 CFR 25.12(u)(2),
228.12(u)(2), 345.12(u)(2), and
563e.12(u)(2).
The threshold for small banks and
small savings associations was revised
most recently effective January 1, 2008
(72 FR 72571 (Dec. 21, 2007)). The CRA
regulations, as revised on December 21,
2007, provide that banks and savings
associations that, as of December 31 of
either of the prior two calendar years,
had assets of less than $1.061 billion are
‘‘small banks’’ or ‘‘small savings
associations.’’ Small banks and small
savings associations with assets of at
least $265 million as of December 31 of
both of the prior two calendar years and
less than $1.061 billion as of December
31 of either of the prior two calendar
years are ‘‘intermediate small banks’’ or
‘‘intermediate small savings
associations.’’ 12 CFR 25.12(u)(1),
228.12(u)(1), 345.12(u)(1), 563e.12(u)(1).
This joint final rule further revises these
thresholds.
During the period ending November
2008, the CPIW increased by 4.49
percent. As a result, the agencies are
revising 12 CFR 25.12(u)(1),
228.12(u)(1), 345.12(u)(1), and
563e.12(u)(1) to make this annual
adjustment. Beginning January 1, 2009,
banks and savings associations that, as
of December 31 of either of the prior two
calendar years, had assets of less than
$1.109 billion are ‘‘small banks’’ or
‘‘small savings associations.’’ Small
banks or small savings associations with
assets of at least $277 million as of
December 31 of both of the prior two
calendar years and less than $1.109
billion as of December 31 of either of the
prior two calendar years are
‘‘intermediate small banks’’ or
‘‘intermediate small savings
associations.’’ The agencies also publish
current and historical asset-size
thresholds on the Web site of the
Federal Financial Institutions
Examination Council at http://
www.ffiec.gov/cra/.
Administrative Procedure Act and
Effective Date
Under 5 U.S.C. 553(b)(B) of the
Administrative Procedure Act (APA), an
agency may, for good cause, find (and
incorporate the finding and a brief
statement of reasons therefore in the
rules issued) that notice and public
procedure thereon are impracticable,
unnecessary, or contrary to the public
interest.
The amendments to the regulations to
adjust the asset-size thresholds for small
and intermediate small banks and
savings associations result from the
application of a formula established by
a provision in the CRA regulations that
the agencies previously published for
VerDate Aug<31>2005 16:38 Dec 19, 2008 Jkt 217001 PO 00000 Frm 00005 Fmt 4700 Sfmt 4700 E:\FR\FM\22DER1.SGM 22DER1
mstockstill on PROD1PC66 with RULES
consumers, AMS has determined that
the California walnut marketing order
should be continued. The order was
established to help the California
walnut industry work with USDA to
solve marketing problems. The order’s
regulations on grade and size, as well as
research and promotion, and collection
and dissemination of information
continue to be beneficial to producers,
handlers, and consumers.
AMS will continue to work with the
California walnut industry in
maintaining an effective marketing
order program.
Dated: December 16, 2008.
James E. Link,
Administrator, Agricultural Marketing
Service.
[FR Doc. E8–30309 Filed 12–19–08; 8:45 am]
BILLING CODE 3410–02–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Part 25
[Docket ID OCC–2008–0024]
RIN 1557–AD19
FEDERAL RESERVE SYSTEM
12 CFR Part 228
[Regulation BB; Docket No. R–1342]
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 345
RIN 3064–AD39
DEPARTMENT OF TREASURY
Office of Thrift Supervision
12 CFR Part 563e
[Docket ID OTS–2008–0021]
RIN 1550–AC29
Community Reinvestment Act
Regulations
AGENCIES: Office of the Comptroller of
the Currency, Treasury (OCC); Board of
Governors of the Federal Reserve
System (Board); Federal Deposit
Insurance Corporation (FDIC); Office of
Thrift Supervision, Treasury (OTS).
ACTION: Joint final rule; technical
amendment.
SUMMARY: The OCC, the Board, the
FDIC, and the OTS (collectively, the
‘‘agencies’’) are amending their
Community Reinvestment Act (CRA)
regulations to adjust the asset-size
thresholds used to define ‘‘small bank’’
or ‘‘small savings association’’ and
‘‘intermediate small bank’’ or
‘‘intermediate small savings
association.’’ As required by the CRA
regulations, the adjustment to the
threshold amount is based on the
annual percentage change in the
Consumer Price Index.
DATES: Effective Date: January 1, 2009.
FOR FURTHER INFORMATION CONTACT:
OCC: Margaret Hesse, Special Counsel,
Community and Consumer Law
Division, (202) 874–5750; or Karen
Tucker, National Bank Examiner,
Compliance Policy Division, (202) 874–
4428, Office of the Comptroller of the
Currency, 250 E Street, SW.,
Washington, DC 20219.
Board: Anjanette M. Kichline, Senior
Supervisory Consumer Financial
Services Analyst, (202) 785–6054; or
Brent Lattin, 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.
FDIC: Deirdre Foley, Senior Policy
Analyst, Division of Supervision and
Consumer Protection, Compliance
Policy Branch, (202) 898–6612; or Susan
van den Toorn, Counsel, Legal Division,
(202) 898–8707, Federal Deposit
Insurance Corporation, 550 17th Street,
NW., Washington, DC 20429.
OTS: Celeste Anderson, Senior Project
Manager, Compliance and Consumer
Protection, (202) 906–7990; or Richard
Bennett, Senior Compliance Counsel,
Regulations and Legislation Division,
(202) 906–7409, Office of Thrift
Supervision, 1700 G Street, NW.,
Washington, DC 20552.
SUPPLEMENTARY INFORMATION:
Background and Description of the
Joint Final Rule
The agencies’ CRA regulations
establish CRA performance standards
for small and intermediate small banks
and savings associations. The
regulations define small and
intermediate small institutions by
reference to asset-size criteria expressed
in dollar amounts, and they further
require the agencies to publish annual
adjustments to these dollar figures based
on the year-to-year change in the
average of the Consumer Price Index for
Urban Wage Earners and Clerical
Workers (CPIW), not seasonally
adjusted, for each twelve-month period
ending in November, with rounding to
the nearest million. 12 CFR 25.12(u)(2),
228.12(u)(2), 345.12(u)(2), and
563e.12(u)(2).
The threshold for small banks and
small savings associations was revised
most recently effective January 1, 2008
(72 FR 72571 (Dec. 21, 2007)). The CRA
regulations, as revised on December 21,
2007, provide that banks and savings
associations that, as of December 31 of
either of the prior two calendar years,
had assets of less than $1.061 billion are
‘‘small banks’’ or ‘‘small savings
associations.’’ Small banks and small
savings associations with assets of at
least $265 million as of December 31 of
both of the prior two calendar years and
less than $1.061 billion as of December
31 of either of the prior two calendar
years are ‘‘intermediate small banks’’ or
‘‘intermediate small savings
associations.’’ 12 CFR 25.12(u)(1),
228.12(u)(1), 345.12(u)(1), 563e.12(u)(1).
This joint final rule further revises these
thresholds.
During the period ending November
2008, the CPIW increased by 4.49
percent. As a result, the agencies are
revising 12 CFR 25.12(u)(1),
228.12(u)(1), 345.12(u)(1), and
563e.12(u)(1) to make this annual
adjustment. Beginning January 1, 2009,
banks and savings associations that, as
of December 31 of either of the prior two
calendar years, had assets of less than
$1.109 billion are ‘‘small banks’’ or
‘‘small savings associations.’’ Small
banks or small savings associations with
assets of at least $277 million as of
December 31 of both of the prior two
calendar years and less than $1.109
billion as of December 31 of either of the
prior two calendar years are
‘‘intermediate small banks’’ or
‘‘intermediate small savings
associations.’’ The agencies also publish
current and historical asset-size
thresholds on the Web site of the
Federal Financial Institutions
Examination Council at http://
www.ffiec.gov/cra/.
Administrative Procedure Act and
Effective Date
Under 5 U.S.C. 553(b)(B) of the
Administrative Procedure Act (APA), an
agency may, for good cause, find (and
incorporate the finding and a brief
statement of reasons therefore in the
rules issued) that notice and public
procedure thereon are impracticable,
unnecessary, or contrary to the public
interest.
The amendments to the regulations to
adjust the asset-size thresholds for small
and intermediate small banks and
savings associations result from the
application of a formula established by
a provision in the CRA regulations that
the agencies previously published for
VerDate Aug<31>2005 16:38 Dec 19, 2008 Jkt 217001 PO 00000 Frm 00005 Fmt 4700 Sfmt 4700 E:\FR\FM\22DER1.SGM 22DER1
mstockstill on PROD1PC66 with RULES
78154 Federal Register / Vol. 73, No. 246 / Monday, December 22, 2008 / Rules and Regulations
comment. See 70 FR 12148 (Mar. 11,
2005), 70 FR 44256 (Aug. 2, 2005), 71
FR 67826 (Nov. 24, 2006), and 72 FR
13429 (Mar. 22, 2007). Sections
25.12(u)(1), 228.12(u)(1), 345.12(u)(1),
and 563e.12(u)(1) are amended by
adjusting the asset threshold as
provided for in §§ 25.12(u)(2),
228.12(u)(2), 345.12(u)(2), and
563e.12(u)(2).
Accordingly, since the agencies’ rules
provide no discretion as to the
computation or timing of the revisions
to the asset-size criteria, the agencies
have determined that publishing a
notice of proposed rulemaking and
providing opportunity for public
comment are unnecessary.
The effective date of this joint final
rule is January 1, 2009. Under 5 U.S.C.
553(d)(3) of the APA, the required
publication or service of a substantive
rule shall be made not less than 30 days
before its effective date, except, among
other things, as provided by the agency
for good cause found and published
with the rule. Because this rule adjusts
asset-size thresholds consistent with the
requirements of the CRA rules, the
agencies conclude that it is not
substantive within the meaning of the
APA’s delayed effective date provision.
Moreover, the agencies find that there is
good cause for dispensing with the
delayed effective date requirement, even
if it applied, because their current rules
already provide notice that the small
and intermediate asset-size thresholds
will be adjusted as of December 31
based on twelve-month data as of the
end of November each year.
Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA)
does not apply to a rulemaking where a
general notice of proposed rulemaking
is not required. 5 U.S.C. 603 and 604.
As noted previously, the agencies have
determined that it is unnecessary to
publish a notice of proposed rulemaking
for this joint final rule. Accordingly, the
RFA’s requirements relating to an initial
and final regulatory flexibility analysis
do not apply.
Paperwork Reduction Act of 1995
There are no collection of information
requirements in this joint final rule.
Executive Order 12866
The OCC and OTS have each
determined that its portion of this joint
final rule is not a significant regulatory
action as defined in Executive Order
12866.
Unfunded Mandates Reform Act of
1995
Section 202 of the Unfunded
Mandates Reform Act of 1995, 2 U.S.C.
1532 (Unfunded Mandates Act),
requires that an agency must prepare a
budgetary impact statement before
promulgating any final rule for which a
general notice of proposed rulemaking
was published. As discussed above, the
agencies have determined that the
publication of a general notice of
proposed rulemaking is unnecessary.
Accordingly, this joint final rule is not
subject to section 202 of the Unfunded
Mandates Act.
Executive Order 13132
The OCC and OTS have each
determined that its portion of this joint
final rule does not have any Federalism
implications as required by Executive
Order 13132.
List of Subjects
12 CFR Part 25
Community development, Credit,
Investments, National banks, Reporting
and recordkeeping requirements.
12 CFR Part 228
Banks, banking, Community
development, Credit, Investments,
Reporting and recordkeeping
requirements.
12 CFR Part 345
Banks, banking, Community
development, Credit, Investments,
Reporting and recordkeeping
requirements.
12 CFR Part 563e
Community development, Credit,
Investments, Reporting and
recordkeeping requirements, Savings
associations.
Department of the Treasury
Office of the Comptroller of the
Currency
12 CFR Chapter I
■ For the reasons discussed in the joint
preamble, 12 CFR part 25 is amended as
follows:
PART 25—COMMUNITY
REINVESTMENT ACT AND
INTERSTATE DEPOSIT PRODUCTION
REGULATIONS
■ 1. The authority citation for part 25
continues to read as follows:
Authority: 12 U.S.C. 21, 22, 26, 27, 30, 36,
93a, 161, 215, 215a, 481, 1814, 1816, 1828(c),
1835a, 2901 through 2907, and 3101 through
3111.
■ 2. Revise § 25.12(u)(1) to read as
follows:
§ 25.12 Definitions.
* * * * *
(u) Small bank—(1) Definition. Small
bank means a bank that, as of December
31 of either of the prior two calendar
years, had assets of less than $1.109
billion. Intermediate small bank means
a small bank with assets of at least $277
million as of December 31 of both of the
prior two calendar years and less than
$1.109 billion as of December 31 of
either of the prior two calendar years.
* * * * *
Federal Reserve System
12 CFR Chapter II
■ For the reasons set forth in the joint
preamble, the Board of Governors of the
Federal Reserve System amends part
228 of chapter II of title 12 of the Code
of Federal Regulations as follows:
PART 228—COMMUNITY
REINVESTMENT (REGULATION BB)
■ 1. The authority citation for part 228
continues to read as follows:
Authority: 12 U.S.C. 321, 325, 1828(c),
1842, 1843, 1844, and 2901 et seq.
■ 2. Revise § 228.12(u)(1) to read as
follows:
§ 228.12 Definitions.
* * * * *
(u) Small bank—(1) Definition. Small
bank means a bank that, as of December
31 of either of the prior two calendar
years, had assets of less than $1.109
billion. Intermediate small bank means
a small bank with assets of at least $277
million as of December 31 of both of the
prior two calendar years and less than
$1.109 billion as of December 31 of
either of the prior two calendar years.
* * * * *
Federal Deposit Insurance Corporation
12 CFR Chapter III
Authority and Issuance
■ For the reasons set forth in the joint
preamble, the Board of Directors of the
Federal Deposit Insurance Corporation
amends part 345 of chapter III of title12
of the Code of Federal Regulations to
read as follows:
PART 345—COMMUNITY
REINVESTMENT
■ 1. The authority citation for part 345
continues to read as follows:
Authority: 12 U.S.C. 1814–1817, 1819–
1820, 1828, 1831u and 2901–2907, 3103–
3104, and 3108(a).
VerDate Aug<31>2005 16:38 Dec 19, 2008 Jkt 217001 PO 00000 Frm 00006 Fmt 4700 Sfmt 4700 E:\FR\FM\22DER1.SGM 22DER1
mstockstill on PROD1PC66 with RULES
comment. See 70 FR 12148 (Mar. 11,
2005), 70 FR 44256 (Aug. 2, 2005), 71
FR 67826 (Nov. 24, 2006), and 72 FR
13429 (Mar. 22, 2007). Sections
25.12(u)(1), 228.12(u)(1), 345.12(u)(1),
and 563e.12(u)(1) are amended by
adjusting the asset threshold as
provided for in §§ 25.12(u)(2),
228.12(u)(2), 345.12(u)(2), and
563e.12(u)(2).
Accordingly, since the agencies’ rules
provide no discretion as to the
computation or timing of the revisions
to the asset-size criteria, the agencies
have determined that publishing a
notice of proposed rulemaking and
providing opportunity for public
comment are unnecessary.
The effective date of this joint final
rule is January 1, 2009. Under 5 U.S.C.
553(d)(3) of the APA, the required
publication or service of a substantive
rule shall be made not less than 30 days
before its effective date, except, among
other things, as provided by the agency
for good cause found and published
with the rule. Because this rule adjusts
asset-size thresholds consistent with the
requirements of the CRA rules, the
agencies conclude that it is not
substantive within the meaning of the
APA’s delayed effective date provision.
Moreover, the agencies find that there is
good cause for dispensing with the
delayed effective date requirement, even
if it applied, because their current rules
already provide notice that the small
and intermediate asset-size thresholds
will be adjusted as of December 31
based on twelve-month data as of the
end of November each year.
Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA)
does not apply to a rulemaking where a
general notice of proposed rulemaking
is not required. 5 U.S.C. 603 and 604.
As noted previously, the agencies have
determined that it is unnecessary to
publish a notice of proposed rulemaking
for this joint final rule. Accordingly, the
RFA’s requirements relating to an initial
and final regulatory flexibility analysis
do not apply.
Paperwork Reduction Act of 1995
There are no collection of information
requirements in this joint final rule.
Executive Order 12866
The OCC and OTS have each
determined that its portion of this joint
final rule is not a significant regulatory
action as defined in Executive Order
12866.
Unfunded Mandates Reform Act of
1995
Section 202 of the Unfunded
Mandates Reform Act of 1995, 2 U.S.C.
1532 (Unfunded Mandates Act),
requires that an agency must prepare a
budgetary impact statement before
promulgating any final rule for which a
general notice of proposed rulemaking
was published. As discussed above, the
agencies have determined that the
publication of a general notice of
proposed rulemaking is unnecessary.
Accordingly, this joint final rule is not
subject to section 202 of the Unfunded
Mandates Act.
Executive Order 13132
The OCC and OTS have each
determined that its portion of this joint
final rule does not have any Federalism
implications as required by Executive
Order 13132.
List of Subjects
12 CFR Part 25
Community development, Credit,
Investments, National banks, Reporting
and recordkeeping requirements.
12 CFR Part 228
Banks, banking, Community
development, Credit, Investments,
Reporting and recordkeeping
requirements.
12 CFR Part 345
Banks, banking, Community
development, Credit, Investments,
Reporting and recordkeeping
requirements.
12 CFR Part 563e
Community development, Credit,
Investments, Reporting and
recordkeeping requirements, Savings
associations.
Department of the Treasury
Office of the Comptroller of the
Currency
12 CFR Chapter I
■ For the reasons discussed in the joint
preamble, 12 CFR part 25 is amended as
follows:
PART 25—COMMUNITY
REINVESTMENT ACT AND
INTERSTATE DEPOSIT PRODUCTION
REGULATIONS
■ 1. The authority citation for part 25
continues to read as follows:
Authority: 12 U.S.C. 21, 22, 26, 27, 30, 36,
93a, 161, 215, 215a, 481, 1814, 1816, 1828(c),
1835a, 2901 through 2907, and 3101 through
3111.
■ 2. Revise § 25.12(u)(1) to read as
follows:
§ 25.12 Definitions.
* * * * *
(u) Small bank—(1) Definition. Small
bank means a bank that, as of December
31 of either of the prior two calendar
years, had assets of less than $1.109
billion. Intermediate small bank means
a small bank with assets of at least $277
million as of December 31 of both of the
prior two calendar years and less than
$1.109 billion as of December 31 of
either of the prior two calendar years.
* * * * *
Federal Reserve System
12 CFR Chapter II
■ For the reasons set forth in the joint
preamble, the Board of Governors of the
Federal Reserve System amends part
228 of chapter II of title 12 of the Code
of Federal Regulations as follows:
PART 228—COMMUNITY
REINVESTMENT (REGULATION BB)
■ 1. The authority citation for part 228
continues to read as follows:
Authority: 12 U.S.C. 321, 325, 1828(c),
1842, 1843, 1844, and 2901 et seq.
■ 2. Revise § 228.12(u)(1) to read as
follows:
§ 228.12 Definitions.
* * * * *
(u) Small bank—(1) Definition. Small
bank means a bank that, as of December
31 of either of the prior two calendar
years, had assets of less than $1.109
billion. Intermediate small bank means
a small bank with assets of at least $277
million as of December 31 of both of the
prior two calendar years and less than
$1.109 billion as of December 31 of
either of the prior two calendar years.
* * * * *
Federal Deposit Insurance Corporation
12 CFR Chapter III
Authority and Issuance
■ For the reasons set forth in the joint
preamble, the Board of Directors of the
Federal Deposit Insurance Corporation
amends part 345 of chapter III of title12
of the Code of Federal Regulations to
read as follows:
PART 345—COMMUNITY
REINVESTMENT
■ 1. The authority citation for part 345
continues to read as follows:
Authority: 12 U.S.C. 1814–1817, 1819–
1820, 1828, 1831u and 2901–2907, 3103–
3104, and 3108(a).
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mstockstill on PROD1PC66 with RULES