77852 Federal Register / Vol. 79, No. 248 / Monday, December 29, 2014 / Rules and Regulations
1 Public Law 111–203, 124 Stat. 1376 (2010).
2 See OCC interim final rule, 76 FR 48950 (Aug.
9, 2011).
PART 9036—REVIEW OF MATCHING
FUND SUBMISSIONS AND
CERTIFICATION OF PAYMENTS BY
COMMISSION
■ 246. The authority citation for part
9036 continues to read as follows:
Authority: 26 U.S.C. 9036 and 9039(b).
§ 9036.2 [Amended]
■ 247. Amend paragraph (b)(1)(v) of
§ 9036.2 to remove ‘‘2 U.S.C. 432(c)(3),
434(b)(3)(A)’’ and add in its place ‘‘52
U.S.C. 30102(c)(3), 30104(b)(3)(A)’’.
PART 9038—EXAMINATIONS AND
AUDITS
■ 248. The authority citation for part
9038 continues to read as follows:
Authority: 26 U.S.C. 9038 and 9039(b).
§ 9038.1 [Amended]
■ 249. In § 9038.1:
■ a. Amend paragraph (b)(1)(iii) to
remove ‘‘2 U.S.C. 437d’’ and add in its
place ‘‘52 U.S.C. 30107’’;
■ b. Amend paragraph (b)(1)(v) to
remove ‘‘2 U.S.C. 437d(a)(1)’’ and add in
its place ‘‘52 U.S.C. 30107(a)(1)’’ and to
remove ‘‘2 U.S.C. 437(d)(a)(3)’’ and add
in its place ‘‘52 U.S.C. 30107(a)(3)’’; and
■ c. Amend paragraph (d)(2) to remove
‘‘2 U.S.C. 437g’’ and add in its place ‘‘52
U.S.C. 30109’’.
PART 9039—REVIEW AND
INVESTIGATION AUTHORITY
■ 250. The authority citation for part
9039 continues to read as follows:
Authority: 26 U.S.C. 9039.
§ 9039.3 [Amended]
■ 251. Amend paragraphs (a)(2) and
(b)(3) of § 9039.3 to remove ‘‘2 U.S.C.
437g’’ and add in its place ‘‘52 U.S.C.
30109’’.
On behalf of the Commission.
Dated: December 17, 2014.
Lee E. Goodman,
Chairman, Federal Election Commission.
[FR Doc. 2014–29933 Filed 12–24–14; 8:45 am]
BILLING CODE 6715–01–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Parts 25 and 195
[Docket ID OCC–2014–0026]
RIN 1557–AD89
FEDERAL RESERVE SYSTEM
12 CFR Part 228
[Regulation BB; Docket No. R–1504]
RIN 7100–AE25
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 345
RIN 3064–AD90
Community Reinvestment Act
Regulations
AGENCIES: Office of the Comptroller of
the Currency, Treasury (OCC); Board of
Governors of the Federal Reserve
System (Board); and Federal Deposit
Insurance Corporation (FDIC).
ACTION: Joint final rule; technical
amendment.
SUMMARY: The OCC, the Board, and the
FDIC (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 January 1, 2015.
FOR FURTHER INFORMATION CONTACT:
OCC: Margaret Hesse, Senior Counsel,
Community and Consumer Law
Division, (202) 649–6350; Rima
Kundnani, Attorney, Legislative and
Regulatory Activities Division, (202)
649–5490, for persons who are deaf or
hard of hearing, TTY, (202) 649–5597;
or Bobbie K. Kennedy, Bank Examiner,
Compliance Policy Division, (202) 649–
5470, Office of the Comptroller of the
Currency, 400 7th Street SW.,
Washington, DC 20219.
Board: Amal S. Patel, Senior
Supervisory Consumer Financial
Services Analyst, (202) 912–7879; or
Nikita Pastor, Counsel, (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: Patience R. Singleton, Senior
Policy Analyst, Supervisory Policy
Branch, Division of Depositor and
Consumer Protection, (202) 898–6859;
or Richard M. Schwartz, Counsel, Legal
Division, (202) 898–7424, Federal
Deposit Insurance Corporation, 550 17th
Street NW., Washington, DC 20429.
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 banks and savings
associations 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),
195.12(u)(2), 228.12(u)(2), and
345.12(u)(2). This adjustment formula
was first adopted for CRA purposes by
the OCC, the Board, and the FDIC on
August 2, 2005, effective September 1,
2005. 70 FR 44256 (Aug. 2, 2005). As
explained in the SUPPLEMENTARY
INFORMATION section of the Agencies’
2005 proposed rule, the Consumer Price
Index also is used in other federal
lending regulations, such as the Home
Mortgage Disclosure Act. 70 FR 12148
(Mar. 11, 2005). See 12 U.S.C. 2808; 12
CFR 203.2(e)(1)(i) (2006). On March 22,
2007, and effective July 1, 2007, the
former Office of Thrift Supervision
(OTS), the agency then responsible for
regulating savings associations, adopted
an annual adjustment formula
consistent with that of the other federal
banking agencies in its CRA rule
previously set forth at 12 CFR 563e. 72
FR 13429 (Mar. 22, 2007). Pursuant to
the Dodd-Frank Wall Street Reform and
Consumer Protection Act (Dodd-Frank
Act),1 and effective July 21, 2011, CRA
rulemaking authority for federal and
state savings associations was
transferred from the OTS to the OCC,
and the OCC subsequently republished,
at 12 CFR 195, the CRA regulations
applicable to those institutions.2 In
addition, the Dodd-Frank Act
transferred responsibility for
VerDate Sep<11>2014 18:05 Dec 24, 2014 Jkt 235001 PO 00000 Frm 00020 Fmt 4700 Sfmt 4700 E:\FR\FM\29DER1.SGM 29DER1
mstockstill on DSK4VPTVN1PROD with RULES
1 Public Law 111–203, 124 Stat. 1376 (2010).
2 See OCC interim final rule, 76 FR 48950 (Aug.
9, 2011).
PART 9036—REVIEW OF MATCHING
FUND SUBMISSIONS AND
CERTIFICATION OF PAYMENTS BY
COMMISSION
■ 246. The authority citation for part
9036 continues to read as follows:
Authority: 26 U.S.C. 9036 and 9039(b).
§ 9036.2 [Amended]
■ 247. Amend paragraph (b)(1)(v) of
§ 9036.2 to remove ‘‘2 U.S.C. 432(c)(3),
434(b)(3)(A)’’ and add in its place ‘‘52
U.S.C. 30102(c)(3), 30104(b)(3)(A)’’.
PART 9038—EXAMINATIONS AND
AUDITS
■ 248. The authority citation for part
9038 continues to read as follows:
Authority: 26 U.S.C. 9038 and 9039(b).
§ 9038.1 [Amended]
■ 249. In § 9038.1:
■ a. Amend paragraph (b)(1)(iii) to
remove ‘‘2 U.S.C. 437d’’ and add in its
place ‘‘52 U.S.C. 30107’’;
■ b. Amend paragraph (b)(1)(v) to
remove ‘‘2 U.S.C. 437d(a)(1)’’ and add in
its place ‘‘52 U.S.C. 30107(a)(1)’’ and to
remove ‘‘2 U.S.C. 437(d)(a)(3)’’ and add
in its place ‘‘52 U.S.C. 30107(a)(3)’’; and
■ c. Amend paragraph (d)(2) to remove
‘‘2 U.S.C. 437g’’ and add in its place ‘‘52
U.S.C. 30109’’.
PART 9039—REVIEW AND
INVESTIGATION AUTHORITY
■ 250. The authority citation for part
9039 continues to read as follows:
Authority: 26 U.S.C. 9039.
§ 9039.3 [Amended]
■ 251. Amend paragraphs (a)(2) and
(b)(3) of § 9039.3 to remove ‘‘2 U.S.C.
437g’’ and add in its place ‘‘52 U.S.C.
30109’’.
On behalf of the Commission.
Dated: December 17, 2014.
Lee E. Goodman,
Chairman, Federal Election Commission.
[FR Doc. 2014–29933 Filed 12–24–14; 8:45 am]
BILLING CODE 6715–01–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Parts 25 and 195
[Docket ID OCC–2014–0026]
RIN 1557–AD89
FEDERAL RESERVE SYSTEM
12 CFR Part 228
[Regulation BB; Docket No. R–1504]
RIN 7100–AE25
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 345
RIN 3064–AD90
Community Reinvestment Act
Regulations
AGENCIES: Office of the Comptroller of
the Currency, Treasury (OCC); Board of
Governors of the Federal Reserve
System (Board); and Federal Deposit
Insurance Corporation (FDIC).
ACTION: Joint final rule; technical
amendment.
SUMMARY: The OCC, the Board, and the
FDIC (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 January 1, 2015.
FOR FURTHER INFORMATION CONTACT:
OCC: Margaret Hesse, Senior Counsel,
Community and Consumer Law
Division, (202) 649–6350; Rima
Kundnani, Attorney, Legislative and
Regulatory Activities Division, (202)
649–5490, for persons who are deaf or
hard of hearing, TTY, (202) 649–5597;
or Bobbie K. Kennedy, Bank Examiner,
Compliance Policy Division, (202) 649–
5470, Office of the Comptroller of the
Currency, 400 7th Street SW.,
Washington, DC 20219.
Board: Amal S. Patel, Senior
Supervisory Consumer Financial
Services Analyst, (202) 912–7879; or
Nikita Pastor, Counsel, (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: Patience R. Singleton, Senior
Policy Analyst, Supervisory Policy
Branch, Division of Depositor and
Consumer Protection, (202) 898–6859;
or Richard M. Schwartz, Counsel, Legal
Division, (202) 898–7424, Federal
Deposit Insurance Corporation, 550 17th
Street NW., Washington, DC 20429.
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 banks and savings
associations 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),
195.12(u)(2), 228.12(u)(2), and
345.12(u)(2). This adjustment formula
was first adopted for CRA purposes by
the OCC, the Board, and the FDIC on
August 2, 2005, effective September 1,
2005. 70 FR 44256 (Aug. 2, 2005). As
explained in the SUPPLEMENTARY
INFORMATION section of the Agencies’
2005 proposed rule, the Consumer Price
Index also is used in other federal
lending regulations, such as the Home
Mortgage Disclosure Act. 70 FR 12148
(Mar. 11, 2005). See 12 U.S.C. 2808; 12
CFR 203.2(e)(1)(i) (2006). On March 22,
2007, and effective July 1, 2007, the
former Office of Thrift Supervision
(OTS), the agency then responsible for
regulating savings associations, adopted
an annual adjustment formula
consistent with that of the other federal
banking agencies in its CRA rule
previously set forth at 12 CFR 563e. 72
FR 13429 (Mar. 22, 2007). Pursuant to
the Dodd-Frank Wall Street Reform and
Consumer Protection Act (Dodd-Frank
Act),1 and effective July 21, 2011, CRA
rulemaking authority for federal and
state savings associations was
transferred from the OTS to the OCC,
and the OCC subsequently republished,
at 12 CFR 195, the CRA regulations
applicable to those institutions.2 In
addition, the Dodd-Frank Act
transferred responsibility for
VerDate Sep<11>2014 18:05 Dec 24, 2014 Jkt 235001 PO 00000 Frm 00020 Fmt 4700 Sfmt 4700 E:\FR\FM\29DER1.SGM 29DER1
mstockstill on DSK4VPTVN1PROD with RULES
77853Federal Register / Vol. 79, No. 248 / Monday, December 29, 2014 / Rules and Regulations
3 See Board interim final rule, 76 FR 56508 (Sept.
13, 2011).
supervision of savings and loan holding
companies and their non-depository
subsidiaries from the OTS to the Board,
and the Board subsequently amended its
CRA regulation to reflect this transfer of
supervision authority.3
The threshold for small banks and
small savings associations was revised
most recently on December 30, 2013,
and became effective January 1, 2014
(78 FR 79283 (Dec. 30, 2013)). The
current CRA regulations provide that
banks and savings associations that, as
of December 31 of either of the prior two
calendar years, had assets of less than
$1.202 billion are small banks or small
savings associations. Small banks and
small savings associations with assets of
at least $300 million as of December 31
of both of the prior two calendar years
and less than $1.202 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),
195.12(u)(1), 228.12(u)(1), and
345.12(u)(1). This joint final rule further
revises these thresholds.
During the period ending November
2014, the CPIW increased by 1.60
percent. As a result, the Agencies are
revising 12 CFR 25.12(u)(1),
195.12(u)(1), 228.12(u)(1), and
345.12(u)(1) to make this annual
adjustment. Beginning January 1, 2015,
banks and savings associations that, as
of December 31 of either of the prior two
calendar years, had assets of less than
$1.221 billion are small banks or small
savings associations. Small banks and
small savings associations with assets of
at least $305 million as of December 31
of both of the prior two calendar years
and less than $1.221 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 respective CRA
regulations that the Agencies previously
published for 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), 195.12(u)(1),
228.12(u)(1), and 345.12(u)(1) are
amended by adjusting the asset-size
thresholds as provided for in
§§ 25.12(u)(2), 195.12(u)(2),
228.12(u)(2), and 345.12(u)(2).
Accordingly, because 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, 2015. 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
procedural 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
small 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 general 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
In accordance with the Paperwork
Reduction Act of 1995 (44 U.S.C. 3506;
5 CFR 1320), the Agencies reviewed this
final rule. No collections of information
pursuant to the Paperwork Reduction
Act are contained in the final rule.
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 the OCC to prepare a budgetary
impact statement before promulgating
any final rule for which a general notice
of proposed rulemaking was published.
As discussed above, the OCC has
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.
List of Subjects
12 CFR Part 25
Community development, Credit,
Investments, National banks, Reporting
and recordkeeping requirements.
12 CFR Part 195
Community development, Credit,
Investments, Reporting and
recordkeeping requirements, Savings
associations.
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.
Department of the Treasury
Office of the Comptroller of the
Currency
12 CFR Chapter I
For the reasons discussed in the
SUPPLEMENTARY INFORMATION section, 12
CFR parts 25 and 195 are 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 2908, and 3101 through
3111.
■ 2. Revise § 25.12(u)(1) to read as
follows:
§ 25.12 Definitions.
* * * * *
VerDate Sep<11>2014 18:05 Dec 24, 2014 Jkt 235001 PO 00000 Frm 00021 Fmt 4700 Sfmt 4700 E:\FR\FM\29DER1.SGM 29DER1
mstockstill on DSK4VPTVN1PROD with RULES
3 See Board interim final rule, 76 FR 56508 (Sept.
13, 2011).
supervision of savings and loan holding
companies and their non-depository
subsidiaries from the OTS to the Board,
and the Board subsequently amended its
CRA regulation to reflect this transfer of
supervision authority.3
The threshold for small banks and
small savings associations was revised
most recently on December 30, 2013,
and became effective January 1, 2014
(78 FR 79283 (Dec. 30, 2013)). The
current CRA regulations provide that
banks and savings associations that, as
of December 31 of either of the prior two
calendar years, had assets of less than
$1.202 billion are small banks or small
savings associations. Small banks and
small savings associations with assets of
at least $300 million as of December 31
of both of the prior two calendar years
and less than $1.202 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),
195.12(u)(1), 228.12(u)(1), and
345.12(u)(1). This joint final rule further
revises these thresholds.
During the period ending November
2014, the CPIW increased by 1.60
percent. As a result, the Agencies are
revising 12 CFR 25.12(u)(1),
195.12(u)(1), 228.12(u)(1), and
345.12(u)(1) to make this annual
adjustment. Beginning January 1, 2015,
banks and savings associations that, as
of December 31 of either of the prior two
calendar years, had assets of less than
$1.221 billion are small banks or small
savings associations. Small banks and
small savings associations with assets of
at least $305 million as of December 31
of both of the prior two calendar years
and less than $1.221 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 respective CRA
regulations that the Agencies previously
published for 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), 195.12(u)(1),
228.12(u)(1), and 345.12(u)(1) are
amended by adjusting the asset-size
thresholds as provided for in
§§ 25.12(u)(2), 195.12(u)(2),
228.12(u)(2), and 345.12(u)(2).
Accordingly, because 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, 2015. 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
procedural 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
small 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 general 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
In accordance with the Paperwork
Reduction Act of 1995 (44 U.S.C. 3506;
5 CFR 1320), the Agencies reviewed this
final rule. No collections of information
pursuant to the Paperwork Reduction
Act are contained in the final rule.
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 the OCC to prepare a budgetary
impact statement before promulgating
any final rule for which a general notice
of proposed rulemaking was published.
As discussed above, the OCC has
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.
List of Subjects
12 CFR Part 25
Community development, Credit,
Investments, National banks, Reporting
and recordkeeping requirements.
12 CFR Part 195
Community development, Credit,
Investments, Reporting and
recordkeeping requirements, Savings
associations.
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.
Department of the Treasury
Office of the Comptroller of the
Currency
12 CFR Chapter I
For the reasons discussed in the
SUPPLEMENTARY INFORMATION section, 12
CFR parts 25 and 195 are 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 2908, and 3101 through
3111.
■ 2. Revise § 25.12(u)(1) to read as
follows:
§ 25.12 Definitions.
* * * * *
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mstockstill on DSK4VPTVN1PROD with RULES