1282 Federal Register / Vol. 79, No. 4 / Tuesday, January 7, 2014 / Unified Agenda
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Ch. III
Semiannual Agenda of Regulations
AGENCY: Federal Deposit Insurance
Corporation.
ACTION: Semiannual regulatory agenda.
SUMMARY: The Federal Deposit
Insurance Corporation (‘‘FDIC’’) is
hereby publishing items for the fall 2013
Unified Agenda of Federal Regulatory
and Deregulatory Actions. The agenda
contains information about FDIC’s
current and projected rulemakings,
existing regulations under review, and
completed rulemakings.
FOR FURTHER INFORMATION CONTACT:
Robert E. Feldman, Executive Secretary,
Federal Deposit Insurance Corporation,
550 17th Street NW., Washington, DC
20429.
SUPPLEMENTARY INFORMATION: Twice
each year, the FDIC publishes an agenda
of regulations to inform the public of its
regulatory actions and to enhance
public participation in the rulemaking
process. Publication of the agenda is in
accordance with the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.).
The FDIC amends its regulations under
the general rulemaking authority
prescribed in section 9 of the Federal
Deposit Insurance Act (12 U.S.C. 1819)
and under specific authority granted by
the Act and other statutes.
Proposed Rules
Regulatory Capital Rules: Regulatory
Capital, Enhanced Supplementary
Leverage Ratio Standards for Certain
Bank Holding Companies and their
Subsidiary Insured Depository
Institutions (3064–AE01)
The Office of the Comptroller of the
Currency, the Board of Governors of the
Federal Reserve System (‘‘Board’’), and
the Federal Deposit Insurance
Corporation (‘‘FDIC’’) (collectively, ‘‘the
agencies’’) are seeking comment on a
notice of proposed rulemaking
(‘‘proposal’’) that would strengthen the
agencies’ leverage ratio standards for
large, interconnected U.S. banking
organizations. The proposal would
apply to any U.S. top-tier bank holding
company (‘‘BHC’’) with at least $700
billion in total consolidated assets or at
least $10 trillion in assets under custody
(‘‘covered BHC’’) and any insured
depository institution subsidiary of
these BHCs. In the revised capital
regulations adopted by the agencies
(‘‘2013 rule’’), the agencies established a
minimum supplementary leverage ratio
of 3 percent (‘‘supplementary leverage
ratio’’), consistent with the minimum
leverage ratio adopted by the Basel
Committee on Banking Supervision, for
banking organizations subject to the
advanced approaches risk-based capital
rules. In this proposal, the agencies are
proposing to establish a ‘‘well
capitalized’’ threshold of 6 percent for
the supplementary leverage ratio for any
insured depository institution that is a
subsidiary of a covered BHC, under the
agencies’ prompt corrective action
framework. The Board also proposes to
establish a new leverage buffer for
covered BHCs above the minimum
supplementary leverage ratio
requirement of 3 percent (leverage
buffer). The leverage buffer would
function like the capital conservation
buffer for the risk-based capital ratios in
the 2013 rule. A covered BHC that
maintains a leverage buffer of tier 1
capital in an amount greater than 2
percent of its total leverage exposure
would not be subject to limitations on
distributions and discretionary bonus
payments. The proposal would take
effect beginning on January 1, 2018. The
agencies are seeking comment on all
aspects of this proposal.
Removal of Transferred OTS
Regulations Regarding Prompt
Corrective Action and Modifications to
Existing Federal Deposit Insurance
Regulations (3064–AE02)
The Federal Deposit Insurance
Corporation (‘‘FDIC’’) will be proposing
to rescind and remove from the Code of
Federal Regulations 12 CFR Part 390,
Subpart Y, entitled Prompt Corrective
Action (‘‘PCA’’). This subpart was
included in the regulations that were
transferred to the FDIC from the Office
of Thrift Supervision (‘‘OTS’’) on July
21, 2011, in connection with the
implementation of applicable provisions
of Title III of the Dodd-Frank Wall Street
Reform and Consumer Protection Act.
Upon removal of 12 CFR Part 390,
Subpart Y, the PCA regulations
applicable for all insured depository
institutions for which the FDIC has been
designated the appropriate federal
banking agency will be found at 12 CFR
Part 325, Subpart B, entitled Prompt
Corrective Action, 12 CFR 325.2,
entitled Definitions, and 12 CFR Part
308, Subpart Q, entitled Issuance and
Review of Orders Pursuant to the
Prompt Corrective Action Provisions of
the Federal Deposit Insurance Act Rules
(‘‘FDIC PCA Rules’’).
Loans in Areas Having Special Flood
Hazards (3064–AE03)
The Office of the Comptroller of the
Currency (‘‘OCC’’), Board of Governors
of the Federal Reserve System, Federal
Deposit Insurance Corporation
(‘‘FDIC’’), the Farm Credit
Administration, and the National Credit
Union Administration (collectively,
‘‘the Agencies’’) will be proposing to
amend their regulations regarding loans
in areas having special flood hazards to
implement provisions of the Biggert-
Waters Flood Insurance Reform Act of
2012. Specifically, the proposal would
establish requirements with respect to
the escrow of flood insurance payments,
the acceptance of private flood
insurance coverage, and the force-
placement of flood insurance. The
proposal also would clarify the
Agencies’ flood insurance regulations
with respect to other amendments made
by the Act and make technical
corrections. Furthermore, the OCC and
the FDIC are proposing to integrate their
flood insurance regulations for national
banks and Federal savings associations
and for State non-member banks and
State savings associations, respectively.
Liquidity Coverage Ratio: Liquidity Risk
Standards, Minimums, Monitoring, and
Transition Provisions (3064–AE04)
The Office of the Comptroller of the
Currency, the Board of Governors of the
Federal Reserve System, and the Federal
Deposit Insurance Corporation will be
requesting comment on proposed rules
that would implement a quantitative
liquidity requirement consistent with
the liquidity coverage ratio standard
established by the Basel Committee on
Banking Supervision. The proposed rule
would apply to all banking
organizations that are subject to, or have
elected to use, the agencies’ advanced
approaches risk-based capital rules
(advanced approaches banking
organizations) and subsidiary
depository institutions of advanced
approaches banking organizations with
$10 billion or more in total consolidated
assets. The requirement is designed to
promote improvements in the
measurement and management of asset-
and funding-liquidity risk.
Restrictions on Sales of Assets by the
Federal Deposit Insurance Corporation
as Receiver for a Covered Financial
Company (3064–AE05)
The Federal Deposit Insurance
Corporation (‘‘FDIC’’ or the
‘‘Corporation’’) is proposing to issue a
rule (‘‘proposed rule’’) implementing
section 210(r) of the Dodd-Frank Wall
Street Reform and Consumer Protection
Act (‘‘Section 210(r)’’ of the ‘‘Dodd-
Frank Act’’), 12 U.S.C 5390(r). Under
Section 210(r), individuals or entities
that have, or may have contributed to
the failure of a ‘‘covered financial
VerDate Mar<15>2010 14:47 Jan 06, 2014 Jkt 232001 PO 00000 Frm 00002 Fmt 4701 Sfmt 4702 E:\FR\FM\07JAP23.SGM 07JAP23
wreier-aviles on DSK5TPTVN1PROD with PROPOSALS6
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Ch. III
Semiannual Agenda of Regulations
AGENCY: Federal Deposit Insurance
Corporation.
ACTION: Semiannual regulatory agenda.
SUMMARY: The Federal Deposit
Insurance Corporation (‘‘FDIC’’) is
hereby publishing items for the fall 2013
Unified Agenda of Federal Regulatory
and Deregulatory Actions. The agenda
contains information about FDIC’s
current and projected rulemakings,
existing regulations under review, and
completed rulemakings.
FOR FURTHER INFORMATION CONTACT:
Robert E. Feldman, Executive Secretary,
Federal Deposit Insurance Corporation,
550 17th Street NW., Washington, DC
20429.
SUPPLEMENTARY INFORMATION: Twice
each year, the FDIC publishes an agenda
of regulations to inform the public of its
regulatory actions and to enhance
public participation in the rulemaking
process. Publication of the agenda is in
accordance with the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.).
The FDIC amends its regulations under
the general rulemaking authority
prescribed in section 9 of the Federal
Deposit Insurance Act (12 U.S.C. 1819)
and under specific authority granted by
the Act and other statutes.
Proposed Rules
Regulatory Capital Rules: Regulatory
Capital, Enhanced Supplementary
Leverage Ratio Standards for Certain
Bank Holding Companies and their
Subsidiary Insured Depository
Institutions (3064–AE01)
The Office of the Comptroller of the
Currency, the Board of Governors of the
Federal Reserve System (‘‘Board’’), and
the Federal Deposit Insurance
Corporation (‘‘FDIC’’) (collectively, ‘‘the
agencies’’) are seeking comment on a
notice of proposed rulemaking
(‘‘proposal’’) that would strengthen the
agencies’ leverage ratio standards for
large, interconnected U.S. banking
organizations. The proposal would
apply to any U.S. top-tier bank holding
company (‘‘BHC’’) with at least $700
billion in total consolidated assets or at
least $10 trillion in assets under custody
(‘‘covered BHC’’) and any insured
depository institution subsidiary of
these BHCs. In the revised capital
regulations adopted by the agencies
(‘‘2013 rule’’), the agencies established a
minimum supplementary leverage ratio
of 3 percent (‘‘supplementary leverage
ratio’’), consistent with the minimum
leverage ratio adopted by the Basel
Committee on Banking Supervision, for
banking organizations subject to the
advanced approaches risk-based capital
rules. In this proposal, the agencies are
proposing to establish a ‘‘well
capitalized’’ threshold of 6 percent for
the supplementary leverage ratio for any
insured depository institution that is a
subsidiary of a covered BHC, under the
agencies’ prompt corrective action
framework. The Board also proposes to
establish a new leverage buffer for
covered BHCs above the minimum
supplementary leverage ratio
requirement of 3 percent (leverage
buffer). The leverage buffer would
function like the capital conservation
buffer for the risk-based capital ratios in
the 2013 rule. A covered BHC that
maintains a leverage buffer of tier 1
capital in an amount greater than 2
percent of its total leverage exposure
would not be subject to limitations on
distributions and discretionary bonus
payments. The proposal would take
effect beginning on January 1, 2018. The
agencies are seeking comment on all
aspects of this proposal.
Removal of Transferred OTS
Regulations Regarding Prompt
Corrective Action and Modifications to
Existing Federal Deposit Insurance
Regulations (3064–AE02)
The Federal Deposit Insurance
Corporation (‘‘FDIC’’) will be proposing
to rescind and remove from the Code of
Federal Regulations 12 CFR Part 390,
Subpart Y, entitled Prompt Corrective
Action (‘‘PCA’’). This subpart was
included in the regulations that were
transferred to the FDIC from the Office
of Thrift Supervision (‘‘OTS’’) on July
21, 2011, in connection with the
implementation of applicable provisions
of Title III of the Dodd-Frank Wall Street
Reform and Consumer Protection Act.
Upon removal of 12 CFR Part 390,
Subpart Y, the PCA regulations
applicable for all insured depository
institutions for which the FDIC has been
designated the appropriate federal
banking agency will be found at 12 CFR
Part 325, Subpart B, entitled Prompt
Corrective Action, 12 CFR 325.2,
entitled Definitions, and 12 CFR Part
308, Subpart Q, entitled Issuance and
Review of Orders Pursuant to the
Prompt Corrective Action Provisions of
the Federal Deposit Insurance Act Rules
(‘‘FDIC PCA Rules’’).
Loans in Areas Having Special Flood
Hazards (3064–AE03)
The Office of the Comptroller of the
Currency (‘‘OCC’’), Board of Governors
of the Federal Reserve System, Federal
Deposit Insurance Corporation
(‘‘FDIC’’), the Farm Credit
Administration, and the National Credit
Union Administration (collectively,
‘‘the Agencies’’) will be proposing to
amend their regulations regarding loans
in areas having special flood hazards to
implement provisions of the Biggert-
Waters Flood Insurance Reform Act of
2012. Specifically, the proposal would
establish requirements with respect to
the escrow of flood insurance payments,
the acceptance of private flood
insurance coverage, and the force-
placement of flood insurance. The
proposal also would clarify the
Agencies’ flood insurance regulations
with respect to other amendments made
by the Act and make technical
corrections. Furthermore, the OCC and
the FDIC are proposing to integrate their
flood insurance regulations for national
banks and Federal savings associations
and for State non-member banks and
State savings associations, respectively.
Liquidity Coverage Ratio: Liquidity Risk
Standards, Minimums, Monitoring, and
Transition Provisions (3064–AE04)
The Office of the Comptroller of the
Currency, the Board of Governors of the
Federal Reserve System, and the Federal
Deposit Insurance Corporation will be
requesting comment on proposed rules
that would implement a quantitative
liquidity requirement consistent with
the liquidity coverage ratio standard
established by the Basel Committee on
Banking Supervision. The proposed rule
would apply to all banking
organizations that are subject to, or have
elected to use, the agencies’ advanced
approaches risk-based capital rules
(advanced approaches banking
organizations) and subsidiary
depository institutions of advanced
approaches banking organizations with
$10 billion or more in total consolidated
assets. The requirement is designed to
promote improvements in the
measurement and management of asset-
and funding-liquidity risk.
Restrictions on Sales of Assets by the
Federal Deposit Insurance Corporation
as Receiver for a Covered Financial
Company (3064–AE05)
The Federal Deposit Insurance
Corporation (‘‘FDIC’’ or the
‘‘Corporation’’) is proposing to issue a
rule (‘‘proposed rule’’) implementing
section 210(r) of the Dodd-Frank Wall
Street Reform and Consumer Protection
Act (‘‘Section 210(r)’’ of the ‘‘Dodd-
Frank Act’’), 12 U.S.C 5390(r). Under
Section 210(r), individuals or entities
that have, or may have contributed to
the failure of a ‘‘covered financial
VerDate Mar<15>2010 14:47 Jan 06, 2014 Jkt 232001 PO 00000 Frm 00002 Fmt 4701 Sfmt 4702 E:\FR\FM\07JAP23.SGM 07JAP23
wreier-aviles on DSK5TPTVN1PROD with PROPOSALS6
1283Federal Register / Vol. 79, No. 4 / Tuesday, January 7, 2014 / Unified Agenda
company’’ (as defined in section
201(a)(8) of the Dodd-Frank Act, 12
U.S.C. 5381(a)(8) and in 12 CFR 380.1)
cannot buy a covered financial
company’s assets from the FDIC. This
proposed rule establishes a self-
certification process that is a
prerequisite to the purchase of assets
from the FDIC as receiver for a covered
financial company.
Final Rules
Margin and Capital Requirements for
Covered Swap Entities (3064–AD79)
The Office of the Comptroller of the
Currency, the Board of Governors of the
Federal Reserve System, the Federal
Deposit Insurance Corporation, the
Farm Credit Administration and the
Federal Housing Finance Agency
(collectively the ‘‘agencies’’) reopened
the comment period on the proposed
rule published in the Federal Register
on May 11, 2011, (76 FR 27564), to
establish minimum margin and capital
requirements for uncleared swaps and
security-based swaps entered into by
swap dealers, major swap participants,
security based swap dealers, and major
security-based swap participants for
which one of the Agencies is the
prudential regulator (Proposed Margin
Rule). Reopening the comment period
that expired on July 11, 2011, allowed
interested persons additional time to
analyze and comment on the Proposed
Margin Rule in light of the consultative
document on margin requirements for
non-centrally-cleared derivatives
recently published for comment by the
Basel Committee on Banking
Supervision and the International
Organization of Securities Commissions.
Prohibitions and Restrictions on
Proprietary Trading and Certain
Interests in, and Relationships With,
Hedge Funds and Private Equity Funds
(3064–AD85)
On November 7, 2011, the Office of
the Comptroller of the Currency, the
Board of Governors of the Federal
Reserve System, the Federal Deposit
Insurance Corporation and U.S.
Securities and Exchange Commission
(collectively, the ‘‘Agencies’’) published
in the Federal Register a joint notice of
proposed rulemaking for public
comment to implement section 619 of
the Dodd-Frank Wall Street Reform and
Consumer Protection Act (‘‘Dodd-Frank
Act’’) which contains certain
prohibitions and restrictions on the
ability of a banking entity and nonbank
financial company supervised by the
Board to engage in proprietary trading
and have certain interests in, or
relationships with, a hedge fund or
private equity fund. Due to the
complexity of the issues involved and to
facilitate coordination of the rulemaking
among the responsible agencies as
provided in section 619 of the Dodd-
Frank Act, the Agencies have
determined that an extension of the
comment period was appropriate. This
action allowed interested persons
additional time to analyze the proposed
rules and prepare their comments.
Incentive-Based Compensation
Arrangements (3064–AD86)
The Office of the Comptroller of the
Currency, the Board of Governors of the
Federal Reserve System, the Federal
Deposit Insurance Corporation, the
National Credit Union Administration,
the U.S. Securities Exchange
Commission, and the Fair Housing
Finance Agency proposed a rule to
implement section 956 of the Dodd-
Frank Wall Street Reform and Consumer
Protection Act. The rule would require
the reporting of incentive-based
compensation arrangements by a
covered financial institution and
prohibit incentive-based compensation
arrangements at a covered financial
institution that provide excessive
compensation or that could expose the
institution to inappropriate risks that
could lead to material financial loss.
Regulatory Capital Rules: Regulatory
Capital, Implementation of Basel III
Capital Adequacy, Transition
Provisions, Prompt Corrective Action,
Standardize Approach for Risk-
Weighted Assets, Market Discipline and
Disclosure Requirements, Advanced
Approaches Risk-Based Capital Rule,
and Market Risk Capital Rule (3064–
AD95)
The Federal Deposit Insurance
Corporation (‘‘FDIC’’) is adopting an
interim final rule that revises its risk-
based and leverage capital requirements
for FDIC-supervised institutions. This
interim final rule is substantially
identical to a joint final rule issued by
the Office of the Comptroller of the
Currency and the Board of Governors of
the Federal Reserve System (together,
with the FDIC, ‘‘the agencies’’). The
interim final rule consolidates three
separate notices of proposed rulemaking
that the agencies jointly published in
the Federal Register on August 30,
2012, with selected changes. The
interim final rule implements a revised
definition of regulatory capital, a new
common equity tier 1 minimum capital
requirement, higher minimum tier 1
capital requirement, and, for FDIC-
supervised institutions subject to the
advanced approaches risk-based capital
rules, a supplementary leverage ratio
that incorporates a broader set of
exposures in the denominator. The
interim final rule incorporates these
new requirements into the FDIC’s
prompt corrective action framework. In
addition, the interim final rule
establishes limits on FDIC-supervised
institutions’ capital distributions and
certain discretionary bonus payments if
the FDIC-supervised institution does not
hold a specified amount of common
equity tier 1 capital in addition to the
amount necessary to meet its minimum
risk-based capital requirements. The
interim final rule amends the
methodologies for determining risk-
weighted assets for all FDIC-supervised
institutions. The interim final rule also
adopts changes to the FDIC’s regulatory
capital requirements that meet the
requirements of section 171 and section
939A of the Dodd-Frank Wall Street
Reform and Consumer Protection Act.
The interim final rule also codifies the
FDIC’s regulatory capital rules, which
have previously resided in various
appendices to their respective
regulations, into a harmonized
integrated regulatory framework.
Restrictions on Post-Employment
Activities of Senior Examiners (3064–
AD98)
The Federal Deposit Insurance
Corporation (‘‘FDIC’’) proposed to
rescind and remove from the Code of
Federal Regulations 12 CFR Part 390,
Subpart A, entitled Restrictions on Post-
Employment Activities of Senior
Examiners. This subpart was included
in the regulations that were transferred
to the FDIC from the Office of Thrift
Supervision on July 21, 2011, in
connection with the implementation of
applicable provisions of Title III of the
Dodd-Frank Wall Street Reform and
Consumer Protection Act. Upon removal
of 12 CFR Part 390 Subpart A, the
restrictions for post-employment
activities of senior examiners of all
insured depository institutions for
which the FDIC has been designated the
appropriate federal banking agency will
be found at 12 CFR Part 336, Subpart C,
entitled One-Year Restriction on Post-
Employment Activities of Senior
Examiners. The rule would not change
12 CFR Part 336, Subpart C. This rule
also proposed to revise 12 CFR Part 336,
Subpart B by deleting a reference to the
‘‘Office of Thrift Supervision’’ in the
definition of ‘‘Federal banking agency’’
described in Part 336.3(e) and adding
the words ‘‘predecessors or’’ in front of
the word ‘‘successors’’.
VerDate Mar<15>2010 14:47 Jan 06, 2014 Jkt 232001 PO 00000 Frm 00003 Fmt 4701 Sfmt 4702 E:\FR\FM\07JAP23.SGM 07JAP23
wreier-aviles on DSK5TPTVN1PROD with PROPOSALS6
company’’ (as defined in section
201(a)(8) of the Dodd-Frank Act, 12
U.S.C. 5381(a)(8) and in 12 CFR 380.1)
cannot buy a covered financial
company’s assets from the FDIC. This
proposed rule establishes a self-
certification process that is a
prerequisite to the purchase of assets
from the FDIC as receiver for a covered
financial company.
Final Rules
Margin and Capital Requirements for
Covered Swap Entities (3064–AD79)
The Office of the Comptroller of the
Currency, the Board of Governors of the
Federal Reserve System, the Federal
Deposit Insurance Corporation, the
Farm Credit Administration and the
Federal Housing Finance Agency
(collectively the ‘‘agencies’’) reopened
the comment period on the proposed
rule published in the Federal Register
on May 11, 2011, (76 FR 27564), to
establish minimum margin and capital
requirements for uncleared swaps and
security-based swaps entered into by
swap dealers, major swap participants,
security based swap dealers, and major
security-based swap participants for
which one of the Agencies is the
prudential regulator (Proposed Margin
Rule). Reopening the comment period
that expired on July 11, 2011, allowed
interested persons additional time to
analyze and comment on the Proposed
Margin Rule in light of the consultative
document on margin requirements for
non-centrally-cleared derivatives
recently published for comment by the
Basel Committee on Banking
Supervision and the International
Organization of Securities Commissions.
Prohibitions and Restrictions on
Proprietary Trading and Certain
Interests in, and Relationships With,
Hedge Funds and Private Equity Funds
(3064–AD85)
On November 7, 2011, the Office of
the Comptroller of the Currency, the
Board of Governors of the Federal
Reserve System, the Federal Deposit
Insurance Corporation and U.S.
Securities and Exchange Commission
(collectively, the ‘‘Agencies’’) published
in the Federal Register a joint notice of
proposed rulemaking for public
comment to implement section 619 of
the Dodd-Frank Wall Street Reform and
Consumer Protection Act (‘‘Dodd-Frank
Act’’) which contains certain
prohibitions and restrictions on the
ability of a banking entity and nonbank
financial company supervised by the
Board to engage in proprietary trading
and have certain interests in, or
relationships with, a hedge fund or
private equity fund. Due to the
complexity of the issues involved and to
facilitate coordination of the rulemaking
among the responsible agencies as
provided in section 619 of the Dodd-
Frank Act, the Agencies have
determined that an extension of the
comment period was appropriate. This
action allowed interested persons
additional time to analyze the proposed
rules and prepare their comments.
Incentive-Based Compensation
Arrangements (3064–AD86)
The Office of the Comptroller of the
Currency, the Board of Governors of the
Federal Reserve System, the Federal
Deposit Insurance Corporation, the
National Credit Union Administration,
the U.S. Securities Exchange
Commission, and the Fair Housing
Finance Agency proposed a rule to
implement section 956 of the Dodd-
Frank Wall Street Reform and Consumer
Protection Act. The rule would require
the reporting of incentive-based
compensation arrangements by a
covered financial institution and
prohibit incentive-based compensation
arrangements at a covered financial
institution that provide excessive
compensation or that could expose the
institution to inappropriate risks that
could lead to material financial loss.
Regulatory Capital Rules: Regulatory
Capital, Implementation of Basel III
Capital Adequacy, Transition
Provisions, Prompt Corrective Action,
Standardize Approach for Risk-
Weighted Assets, Market Discipline and
Disclosure Requirements, Advanced
Approaches Risk-Based Capital Rule,
and Market Risk Capital Rule (3064–
AD95)
The Federal Deposit Insurance
Corporation (‘‘FDIC’’) is adopting an
interim final rule that revises its risk-
based and leverage capital requirements
for FDIC-supervised institutions. This
interim final rule is substantially
identical to a joint final rule issued by
the Office of the Comptroller of the
Currency and the Board of Governors of
the Federal Reserve System (together,
with the FDIC, ‘‘the agencies’’). The
interim final rule consolidates three
separate notices of proposed rulemaking
that the agencies jointly published in
the Federal Register on August 30,
2012, with selected changes. The
interim final rule implements a revised
definition of regulatory capital, a new
common equity tier 1 minimum capital
requirement, higher minimum tier 1
capital requirement, and, for FDIC-
supervised institutions subject to the
advanced approaches risk-based capital
rules, a supplementary leverage ratio
that incorporates a broader set of
exposures in the denominator. The
interim final rule incorporates these
new requirements into the FDIC’s
prompt corrective action framework. In
addition, the interim final rule
establishes limits on FDIC-supervised
institutions’ capital distributions and
certain discretionary bonus payments if
the FDIC-supervised institution does not
hold a specified amount of common
equity tier 1 capital in addition to the
amount necessary to meet its minimum
risk-based capital requirements. The
interim final rule amends the
methodologies for determining risk-
weighted assets for all FDIC-supervised
institutions. The interim final rule also
adopts changes to the FDIC’s regulatory
capital requirements that meet the
requirements of section 171 and section
939A of the Dodd-Frank Wall Street
Reform and Consumer Protection Act.
The interim final rule also codifies the
FDIC’s regulatory capital rules, which
have previously resided in various
appendices to their respective
regulations, into a harmonized
integrated regulatory framework.
Restrictions on Post-Employment
Activities of Senior Examiners (3064–
AD98)
The Federal Deposit Insurance
Corporation (‘‘FDIC’’) proposed to
rescind and remove from the Code of
Federal Regulations 12 CFR Part 390,
Subpart A, entitled Restrictions on Post-
Employment Activities of Senior
Examiners. This subpart was included
in the regulations that were transferred
to the FDIC from the Office of Thrift
Supervision on July 21, 2011, in
connection with the implementation of
applicable provisions of Title III of the
Dodd-Frank Wall Street Reform and
Consumer Protection Act. Upon removal
of 12 CFR Part 390 Subpart A, the
restrictions for post-employment
activities of senior examiners of all
insured depository institutions for
which the FDIC has been designated the
appropriate federal banking agency will
be found at 12 CFR Part 336, Subpart C,
entitled One-Year Restriction on Post-
Employment Activities of Senior
Examiners. The rule would not change
12 CFR Part 336, Subpart C. This rule
also proposed to revise 12 CFR Part 336,
Subpart B by deleting a reference to the
‘‘Office of Thrift Supervision’’ in the
definition of ‘‘Federal banking agency’’
described in Part 336.3(e) and adding
the words ‘‘predecessors or’’ in front of
the word ‘‘successors’’.
VerDate Mar<15>2010 14:47 Jan 06, 2014 Jkt 232001 PO 00000 Frm 00003 Fmt 4701 Sfmt 4702 E:\FR\FM\07JAP23.SGM 07JAP23
wreier-aviles on DSK5TPTVN1PROD with PROPOSALS6