81162 Federal Register / Vol. 80, No. 249 / Tuesday, December 29, 2015 / Rules and Regulations
1 Pub. L. 111–203, 124 Stat. 1376 (2010).
2 See OCC interim final rule, 76 FR 48950 (Aug.
9, 2011).
3 See Board interim final rule, 76 FR 56508 (Sept.
13, 2011).
Signed in Washington, DC, on December
17, 2015.
Brandon Willis,
Manager, Federal Crop Insurance
Corporation.
[FR Doc. 2015–32308 Filed 12–28–15; 8:45 am]
BILLING CODE 3410–08–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Parts 25 and 195
[Docket ID OCC–2015–0025]
RIN 1557–AE01
FEDERAL RESERVE SYSTEM
12 CFR Part 228
[Regulation BB; Docket No. R–1526]
RIN 7100–AE40
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 345
RIN 3064–AD90
Community Reinvestment Act
Regulations
AGENCY: 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 for Urban Wage
Earners and Clerical Workers (CPI–W).
The Agencies also propose to make
technical edits to remove obsolete
references to the Office of Thrift
Supervision (OTS) and update cross-
references to regulations implementing
certain Federal consumer financial laws
in their CRA regulations.
DATES: January 1, 2016.
FOR FURTHER INFORMATION CONTACT:
OCC: Margaret Hesse, Senior Counsel,
Community and Consumer Law
Division, (202) 649–6350; Priscilla
Benner, 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 CRA
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 CPI–W, 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). The Agencies noted that the
CPI–W is also used in connection with
other federal laws, such as the Home
Mortgage Disclosure Act. See 12 U.S.C.
2808; 12 CFR 1003.2. On March 22,
2007, and effective July 1, 2007, the
former 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
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
supervisory authority.3
The threshold for small banks and
small savings associations was revised
most recently in December 2014, and
became effective January 1, 2015 (79 FR
77852 (Dec. 29, 2014)). 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
$1.221 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. 12 CFR 25.12(u)(1),
195.12(u)(1), 228.12(u)(1), and
345.12(u)(1). This joint final rule revises
these thresholds.
During the period ending November
2015, the CPI–W decreased by 0.42
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, 2016,
banks and savings associations that, as
of December 31 of either of the prior two
calendar years, had assets of less than
$1.216 billion are small banks or small
savings associations. Small banks and
small savings associations with assets of
at least $304 million as of December 31
of both of the prior two calendar years
and less than $1.216 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/.
VerDate Sep<11>2014 15:24 Dec 28, 2015 Jkt 238001 PO 00000 Frm 00004 Fmt 4700 Sfmt 4700 E:\FR\FM\29DER1.SGM 29DER1
jstallworth on DSK7TPTVN1PROD with RULES
1 Pub. L. 111–203, 124 Stat. 1376 (2010).
2 See OCC interim final rule, 76 FR 48950 (Aug.
9, 2011).
3 See Board interim final rule, 76 FR 56508 (Sept.
13, 2011).
Signed in Washington, DC, on December
17, 2015.
Brandon Willis,
Manager, Federal Crop Insurance
Corporation.
[FR Doc. 2015–32308 Filed 12–28–15; 8:45 am]
BILLING CODE 3410–08–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
12 CFR Parts 25 and 195
[Docket ID OCC–2015–0025]
RIN 1557–AE01
FEDERAL RESERVE SYSTEM
12 CFR Part 228
[Regulation BB; Docket No. R–1526]
RIN 7100–AE40
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 345
RIN 3064–AD90
Community Reinvestment Act
Regulations
AGENCY: 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 for Urban Wage
Earners and Clerical Workers (CPI–W).
The Agencies also propose to make
technical edits to remove obsolete
references to the Office of Thrift
Supervision (OTS) and update cross-
references to regulations implementing
certain Federal consumer financial laws
in their CRA regulations.
DATES: January 1, 2016.
FOR FURTHER INFORMATION CONTACT:
OCC: Margaret Hesse, Senior Counsel,
Community and Consumer Law
Division, (202) 649–6350; Priscilla
Benner, 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 CRA
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 CPI–W, 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). The Agencies noted that the
CPI–W is also used in connection with
other federal laws, such as the Home
Mortgage Disclosure Act. See 12 U.S.C.
2808; 12 CFR 1003.2. On March 22,
2007, and effective July 1, 2007, the
former 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
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
supervisory authority.3
The threshold for small banks and
small savings associations was revised
most recently in December 2014, and
became effective January 1, 2015 (79 FR
77852 (Dec. 29, 2014)). 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
$1.221 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. 12 CFR 25.12(u)(1),
195.12(u)(1), 228.12(u)(1), and
345.12(u)(1). This joint final rule revises
these thresholds.
During the period ending November
2015, the CPI–W decreased by 0.42
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, 2016,
banks and savings associations that, as
of December 31 of either of the prior two
calendar years, had assets of less than
$1.216 billion are small banks or small
savings associations. Small banks and
small savings associations with assets of
at least $304 million as of December 31
of both of the prior two calendar years
and less than $1.216 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/.
VerDate Sep<11>2014 15:24 Dec 28, 2015 Jkt 238001 PO 00000 Frm 00004 Fmt 4700 Sfmt 4700 E:\FR\FM\29DER1.SGM 29DER1
jstallworth on DSK7TPTVN1PROD with RULES
81163Federal Register / Vol. 80, No. 249 / Tuesday, December 29, 2015 / Rules and Regulations
4 See 12 U.S.C. 5412–5413.
5 12 CFR part 1003. See 76 FR 78465 (Dec. 19,
2011).
6 12 CFR part 1026. See 76 FR 79768 (Dec. 22,
2011).
7 See 12 CFR 25.12(h)(2)(i), 25.12(j)(2), 25.12(l),
25.42(b)(3), 25.42(d), 25.43(b)(2), 195.12(h)(2)(i),
195.12(j)(2), 195.12(l), 195.42(b)(3), 195.42(d),
195.43(b)(2), 228.12(h)(2)(i), 228.12(j)(2), 228.12(l),
228.42(b)(3), 228.42(d), 228.43(b)(2), 345.12(h)(2)(i),
345.12(j)(2), 345.12(l), 345.42(b)(3), 345.42(d), and
345.43(b)(2).
In addition, the Agencies are making
technical edits to 12 CFR 25.42, 228.42,
and 345.42 to remove obsolete
references to the ‘‘Office of Thrift
Supervision’’ and to 12 CFR 563e in the
CRA rules. As explained above, Title III
of the Dodd-Frank Act transferred the
powers, authorities, rights, and duties of
the OTS to the Agencies. Specifically,
among other changes, Title III abolished
the OTS; transferred rulemaking and
supervisory authority over savings and
loan holding companies and
supervisory authority over their non-
depository subsidiaries to the Board;
transferred rulemaking authority over
federal savings associations and state
savings associations, and supervisory
authority over federal savings
associations, to the OCC; and transferred
supervisory authority over state savings
associations to the FDIC.4
Further, the Agencies are updating
references to certain regulations
implementing Federal consumer
financial laws in the CRA regulations, as
Title X of the Dodd-Frank Act
transferred rulemaking authority for a
number of Federal consumer financial
laws, including the Home Mortgage
Disclosure Act (HMDA) and the Truth
in Lending Act (TILA), to the Consumer
Financial Protection Bureau (CFPB),
effective July 21, 2011. The CFPB
subsequently published an interim final
rule to establish its own Regulation C to
implement HMDA,5 and also published
an interim final rule to establish its own
Regulation Z to implement TILA.6
Accordingly, the Agencies are updating
the citations in the CRA regulations 7 to
reference the CFPB’s Regulation C and
Regulation Z, located at 12 CFR 1003
and 12 CFR 1026, respectively.
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, the Agencies’ rules
provide no discretion as to the
computation or timing of the revisions
to the asset-size criteria. Furthermore,
deleting the obsolete references to the
‘‘Office of Thrift Supervision’’ and its
CRA regulation and updating cross-
references to reflect the transfer of
rulemaking authority for many Federal
consumer financial laws to the CFPB are
technical and non-substantive revisions.
For these reasons, 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, 2016. 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. In addition, the
technical edits to remove obsolete
references to the ‘‘Office of Thrift
Supervision’’ and its CRA rule in the
Agencies’ CRA rules and update
citations to certain regulations are not
substantive within the meaning of the
APA’s delayed effective date provision.
Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA)
does not apply to a rulemaking when 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
(Unfunded Mandates Act), 2 U.S.C.
1532, 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
preamble, 12 CFR parts 25 and 195 are
amended as follows:
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4 See 12 U.S.C. 5412–5413.
5 12 CFR part 1003. See 76 FR 78465 (Dec. 19,
2011).
6 12 CFR part 1026. See 76 FR 79768 (Dec. 22,
2011).
7 See 12 CFR 25.12(h)(2)(i), 25.12(j)(2), 25.12(l),
25.42(b)(3), 25.42(d), 25.43(b)(2), 195.12(h)(2)(i),
195.12(j)(2), 195.12(l), 195.42(b)(3), 195.42(d),
195.43(b)(2), 228.12(h)(2)(i), 228.12(j)(2), 228.12(l),
228.42(b)(3), 228.42(d), 228.43(b)(2), 345.12(h)(2)(i),
345.12(j)(2), 345.12(l), 345.42(b)(3), 345.42(d), and
345.43(b)(2).
In addition, the Agencies are making
technical edits to 12 CFR 25.42, 228.42,
and 345.42 to remove obsolete
references to the ‘‘Office of Thrift
Supervision’’ and to 12 CFR 563e in the
CRA rules. As explained above, Title III
of the Dodd-Frank Act transferred the
powers, authorities, rights, and duties of
the OTS to the Agencies. Specifically,
among other changes, Title III abolished
the OTS; transferred rulemaking and
supervisory authority over savings and
loan holding companies and
supervisory authority over their non-
depository subsidiaries to the Board;
transferred rulemaking authority over
federal savings associations and state
savings associations, and supervisory
authority over federal savings
associations, to the OCC; and transferred
supervisory authority over state savings
associations to the FDIC.4
Further, the Agencies are updating
references to certain regulations
implementing Federal consumer
financial laws in the CRA regulations, as
Title X of the Dodd-Frank Act
transferred rulemaking authority for a
number of Federal consumer financial
laws, including the Home Mortgage
Disclosure Act (HMDA) and the Truth
in Lending Act (TILA), to the Consumer
Financial Protection Bureau (CFPB),
effective July 21, 2011. The CFPB
subsequently published an interim final
rule to establish its own Regulation C to
implement HMDA,5 and also published
an interim final rule to establish its own
Regulation Z to implement TILA.6
Accordingly, the Agencies are updating
the citations in the CRA regulations 7 to
reference the CFPB’s Regulation C and
Regulation Z, located at 12 CFR 1003
and 12 CFR 1026, respectively.
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, the Agencies’ rules
provide no discretion as to the
computation or timing of the revisions
to the asset-size criteria. Furthermore,
deleting the obsolete references to the
‘‘Office of Thrift Supervision’’ and its
CRA regulation and updating cross-
references to reflect the transfer of
rulemaking authority for many Federal
consumer financial laws to the CFPB are
technical and non-substantive revisions.
For these reasons, 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, 2016. 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. In addition, the
technical edits to remove obsolete
references to the ‘‘Office of Thrift
Supervision’’ and its CRA rule in the
Agencies’ CRA rules and update
citations to certain regulations are not
substantive within the meaning of the
APA’s delayed effective date provision.
Regulatory Flexibility Act
The Regulatory Flexibility Act (RFA)
does not apply to a rulemaking when 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
(Unfunded Mandates Act), 2 U.S.C.
1532, 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
preamble, 12 CFR parts 25 and 195 are
amended as follows:
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