65903Federal Register / Vol. 80, No. 208 / Wednesday, October 28, 2015 / Rules and Regulations
1 76 FR 39247 (July 6, 2011).
current business and professional
affiliations of the new chief executive
officers or directors.
§§ 303.89–303.99 [Reserved]
PART 391—FORMER OFFICE OF
THRIFT SUPERVISION REGULATIONS
■ 3. The authority for part 391 is revised
to read as follows:
Authority: 12 U.S.C. 1819(a) (Tenth).;
Subpart A also issued under 12 U.S.C. 1462a;
1463; 1464; 1828; 1831p–1; 1881–1884; 15
U.S.C. 1681w; 15 U.S.C. 6801; 6805.; Subpart
B also issued under 12 U.S.C. 1462a; 1463;
1464; 1828; 1831p–1; 1881–1884; 15
U.S.C.1681w; 15 U.S.C. 6801; 6805.; Subpart
C also issued under 12 U.S.C. 1462a; 1463;
1464; 1828; 1831p–1; and 1881–1884; 15
U.S.C. 1681m; 1681w.; Subpart D also issued
under 12 U.S.C. 1462; 1462a; 1463; 1464; 42
U.S.C. 4012a; 4104a; 4104b; 4106; 4128.
Subpart E—[Removed and Reserved]
■ 4. Remove and reserve subpart E,
consisting of §§ 391.40 through 391.48.
By order of the Board of Directors.
Dated at Washington, DC this 22nd day of
October, 2015.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2015–27289 Filed 10–27–15; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Parts 308, 364, and 391
RIN 3064–AE28
Removal of Transferred OTS
Regulations Regarding Safety and
Soundness Guidelines and
Compliance Procedures; Rules on
Safety and Soundness
AGENCY: Federal Deposit Insurance
Corporation.
ACTION: Final rule.
SUMMARY: The Federal Deposit
Insurance Corporation (‘‘FDIC’’) is
adopting a final rule (‘‘Final Rule’’) to
rescind and remove from the Code of
Federal Regulations 12 CFR part 391,
subpart B (‘‘part 391, subpart B’’),
entitled ‘‘Safety and Soundness
Guidelines and Compliance
Procedures,’’ appendices A and B to
part 391, subpart B, and supplement A
to appendix B. The Final Rule also
amends 12 CFR part 308, subpart R
(‘‘part 308, subpart R’’), entitled
‘‘Submission and Review of Safety and
Soundness Compliance Plans and
Issuance of Orders to Correct Safety and
Soundness Deficiencies,’’ and 12 CFR
part 364 (‘‘part 364’’), entitled
‘‘Standards for Safety and Soundness’’
and its corresponding appendices and
supplement. Part 391, subpart B was
one of several rules transferred to the
FDIC following dissolution of the former
Office of Thrift Supervision (‘‘OTS’’) in
connection with the implementation of
applicable provisions of Title III of the
Dodd-Frank Wall Street Reform and
Consumer Protection Act (‘‘Dodd-Frank
Act’’). Section 316(b)(3) of the Dodd-
Frank Act provided that the former OTS
rules that were transferred to the FDIC
would be enforceable by or against the
FDIC until they were modified,
terminated, set aside, or superseded in
accordance with applicable law by the
FDIC, by any court of competent
jurisdiction, or by operation of law. On
January 30, 2015, the FDIC published in
the Federal Register a notice of
proposed rulemaking (‘‘NPR’’ or
‘‘Proposed Rule’’) that explained and
solicited public comment on a proposal
to rescind and remove part 391, subpart
B and to amend part 364, its
appendices, and its supplement and
part 308, subpart R by making them
applicable to ‘‘State savings
associations’’ and making minor
technical updates to the appendices and
supplement to part 364. The FDIC
received no comments on the Proposed
Rule and consequently is adopting the
Final Rule as proposed in the NPR
without change.
DATES: The Final Rule is effective on
November 27, 2015.
FOR FURTHER INFORMATION CONTACT:
Rebecca M. Parks, Review Examiner,
Division of Risk Management
Supervision (202) 898–3912; Jann L.
Harley, Senior Attorney, Legal Division
(312) 382–6535; or Michael P. Condon,
Counsel, Legal Division (202) 898–6536.
SUPPLEMENTARY INFORMATION:
I. Background
The Dodd-Frank Act
The Dodd-Frank Act provided for a
substantial reorganization of the
regulation of State and Federal savings
associations and their holding
companies. Beginning July 21, 2011, the
transfer date established by section 311
of the Dodd-Frank Act, codified at 12
U.S.C. 5411, the powers, duties, and
functions formerly performed by the
OTS were divided among the FDIC, as
to State savings associations, the Office
of the Comptroller of the Currency
(‘‘OCC’’), as to Federal savings
associations, and the Board of
Governors of the Federal Reserve
System (‘‘FRB’’), as to savings and loan
holding companies. Section 316(b) of
the Dodd-Frank Act, codified at 12
U.S.C. 5414(b), provides the manner of
treatment for all orders, resolutions,
determinations, regulations, and
advisory materials that had been issued,
made, prescribed, or allowed to become
effective by the OTS. The section
provides that if such materials were in
effect on the day before the transfer
date, they continue in effect and are
enforceable by or against the
appropriate successor agency until they
are modified, terminated, set aside, or
superseded in accordance with
applicable law by such successor
agency, by any court of competent
jurisdiction, or by operation of law.
Section 316(c) of the Dodd-Frank Act,
codified at 12 U.S.C. 5414(c), further
directed the FDIC and the OCC to
consult with one another and to publish
a list of the continued OTS regulations
which would be enforced by the FDIC
and the OCC, respectively. On June 14,
2011, the FDIC’s Board of Directors
approved a ‘‘List of OTS Regulations to
be Enforced by the OCC and the FDIC
Pursuant to the Dodd-Frank Wall Street
Reform and Consumer Protection Act.’’
This list was published by the FDIC and
the OCC as a Joint Notice in the Federal
Register on July 6, 2011.1
Although section 312(b)(2)(B)(i)(II) of
the Dodd-Frank Act, codified at 12
U.S.C. 5412(b)(2)(B)(i)(II), granted the
OCC rulemaking authority relating to
both State and Federal savings
associations, nothing in the Dodd-Frank
Act affected the FDIC’s existing
authority to issue regulations under the
FDI Act and other laws as the
‘‘appropriate Federal banking agency’’
or under similar statutory terminology.
Section 312(c) of the Dodd-Frank Act
amended the definition of ‘‘appropriate
Federal banking agency’’ contained in
Section 3(q) of the FDI Act, 12 U.S.C.
1813(q), to add State savings
associations to the list of entities for
which the FDIC is designated as the
‘‘appropriate Federal banking agency.’’
As a result, when the FDIC acts as the
designated ‘‘appropriate Federal
banking agency’’ (or under similar
terminology) for State savings
associations, as it does here, the FDIC is
authorized to issue, modify, and rescind
regulations involving such associations,
as well as for State nonmember banks
and insured branches of foreign banks.
As noted, on June 14, 2011, operating
pursuant to this authority, the FDIC’s
Board of Directors reissued and
redesignated certain transferring
regulations of the former OTS. These
transferred OTS regulations were
published as new FDIC regulations in
VerDate Sep<11>2014 15:03 Oct 27, 2015 Jkt 238001 PO 00000 Frm 00023 Fmt 4700 Sfmt 4700 E:\FR\FM\28OCR1.SGM 28OCR1
Lhorne on DSK5TPTVN1PROD with RULES
1 76 FR 39247 (July 6, 2011).
current business and professional
affiliations of the new chief executive
officers or directors.
§§ 303.89–303.99 [Reserved]
PART 391—FORMER OFFICE OF
THRIFT SUPERVISION REGULATIONS
■ 3. The authority for part 391 is revised
to read as follows:
Authority: 12 U.S.C. 1819(a) (Tenth).;
Subpart A also issued under 12 U.S.C. 1462a;
1463; 1464; 1828; 1831p–1; 1881–1884; 15
U.S.C. 1681w; 15 U.S.C. 6801; 6805.; Subpart
B also issued under 12 U.S.C. 1462a; 1463;
1464; 1828; 1831p–1; 1881–1884; 15
U.S.C.1681w; 15 U.S.C. 6801; 6805.; Subpart
C also issued under 12 U.S.C. 1462a; 1463;
1464; 1828; 1831p–1; and 1881–1884; 15
U.S.C. 1681m; 1681w.; Subpart D also issued
under 12 U.S.C. 1462; 1462a; 1463; 1464; 42
U.S.C. 4012a; 4104a; 4104b; 4106; 4128.
Subpart E—[Removed and Reserved]
■ 4. Remove and reserve subpart E,
consisting of §§ 391.40 through 391.48.
By order of the Board of Directors.
Dated at Washington, DC this 22nd day of
October, 2015.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2015–27289 Filed 10–27–15; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Parts 308, 364, and 391
RIN 3064–AE28
Removal of Transferred OTS
Regulations Regarding Safety and
Soundness Guidelines and
Compliance Procedures; Rules on
Safety and Soundness
AGENCY: Federal Deposit Insurance
Corporation.
ACTION: Final rule.
SUMMARY: The Federal Deposit
Insurance Corporation (‘‘FDIC’’) is
adopting a final rule (‘‘Final Rule’’) to
rescind and remove from the Code of
Federal Regulations 12 CFR part 391,
subpart B (‘‘part 391, subpart B’’),
entitled ‘‘Safety and Soundness
Guidelines and Compliance
Procedures,’’ appendices A and B to
part 391, subpart B, and supplement A
to appendix B. The Final Rule also
amends 12 CFR part 308, subpart R
(‘‘part 308, subpart R’’), entitled
‘‘Submission and Review of Safety and
Soundness Compliance Plans and
Issuance of Orders to Correct Safety and
Soundness Deficiencies,’’ and 12 CFR
part 364 (‘‘part 364’’), entitled
‘‘Standards for Safety and Soundness’’
and its corresponding appendices and
supplement. Part 391, subpart B was
one of several rules transferred to the
FDIC following dissolution of the former
Office of Thrift Supervision (‘‘OTS’’) in
connection with the implementation of
applicable provisions of Title III of the
Dodd-Frank Wall Street Reform and
Consumer Protection Act (‘‘Dodd-Frank
Act’’). Section 316(b)(3) of the Dodd-
Frank Act provided that the former OTS
rules that were transferred to the FDIC
would be enforceable by or against the
FDIC until they were modified,
terminated, set aside, or superseded in
accordance with applicable law by the
FDIC, by any court of competent
jurisdiction, or by operation of law. On
January 30, 2015, the FDIC published in
the Federal Register a notice of
proposed rulemaking (‘‘NPR’’ or
‘‘Proposed Rule’’) that explained and
solicited public comment on a proposal
to rescind and remove part 391, subpart
B and to amend part 364, its
appendices, and its supplement and
part 308, subpart R by making them
applicable to ‘‘State savings
associations’’ and making minor
technical updates to the appendices and
supplement to part 364. The FDIC
received no comments on the Proposed
Rule and consequently is adopting the
Final Rule as proposed in the NPR
without change.
DATES: The Final Rule is effective on
November 27, 2015.
FOR FURTHER INFORMATION CONTACT:
Rebecca M. Parks, Review Examiner,
Division of Risk Management
Supervision (202) 898–3912; Jann L.
Harley, Senior Attorney, Legal Division
(312) 382–6535; or Michael P. Condon,
Counsel, Legal Division (202) 898–6536.
SUPPLEMENTARY INFORMATION:
I. Background
The Dodd-Frank Act
The Dodd-Frank Act provided for a
substantial reorganization of the
regulation of State and Federal savings
associations and their holding
companies. Beginning July 21, 2011, the
transfer date established by section 311
of the Dodd-Frank Act, codified at 12
U.S.C. 5411, the powers, duties, and
functions formerly performed by the
OTS were divided among the FDIC, as
to State savings associations, the Office
of the Comptroller of the Currency
(‘‘OCC’’), as to Federal savings
associations, and the Board of
Governors of the Federal Reserve
System (‘‘FRB’’), as to savings and loan
holding companies. Section 316(b) of
the Dodd-Frank Act, codified at 12
U.S.C. 5414(b), provides the manner of
treatment for all orders, resolutions,
determinations, regulations, and
advisory materials that had been issued,
made, prescribed, or allowed to become
effective by the OTS. The section
provides that if such materials were in
effect on the day before the transfer
date, they continue in effect and are
enforceable by or against the
appropriate successor agency until they
are modified, terminated, set aside, or
superseded in accordance with
applicable law by such successor
agency, by any court of competent
jurisdiction, or by operation of law.
Section 316(c) of the Dodd-Frank Act,
codified at 12 U.S.C. 5414(c), further
directed the FDIC and the OCC to
consult with one another and to publish
a list of the continued OTS regulations
which would be enforced by the FDIC
and the OCC, respectively. On June 14,
2011, the FDIC’s Board of Directors
approved a ‘‘List of OTS Regulations to
be Enforced by the OCC and the FDIC
Pursuant to the Dodd-Frank Wall Street
Reform and Consumer Protection Act.’’
This list was published by the FDIC and
the OCC as a Joint Notice in the Federal
Register on July 6, 2011.1
Although section 312(b)(2)(B)(i)(II) of
the Dodd-Frank Act, codified at 12
U.S.C. 5412(b)(2)(B)(i)(II), granted the
OCC rulemaking authority relating to
both State and Federal savings
associations, nothing in the Dodd-Frank
Act affected the FDIC’s existing
authority to issue regulations under the
FDI Act and other laws as the
‘‘appropriate Federal banking agency’’
or under similar statutory terminology.
Section 312(c) of the Dodd-Frank Act
amended the definition of ‘‘appropriate
Federal banking agency’’ contained in
Section 3(q) of the FDI Act, 12 U.S.C.
1813(q), to add State savings
associations to the list of entities for
which the FDIC is designated as the
‘‘appropriate Federal banking agency.’’
As a result, when the FDIC acts as the
designated ‘‘appropriate Federal
banking agency’’ (or under similar
terminology) for State savings
associations, as it does here, the FDIC is
authorized to issue, modify, and rescind
regulations involving such associations,
as well as for State nonmember banks
and insured branches of foreign banks.
As noted, on June 14, 2011, operating
pursuant to this authority, the FDIC’s
Board of Directors reissued and
redesignated certain transferring
regulations of the former OTS. These
transferred OTS regulations were
published as new FDIC regulations in
VerDate Sep<11>2014 15:03 Oct 27, 2015 Jkt 238001 PO 00000 Frm 00023 Fmt 4700 Sfmt 4700 E:\FR\FM\28OCR1.SGM 28OCR1
Lhorne on DSK5TPTVN1PROD with RULES
65904 Federal Register / Vol. 80, No. 208 / Wednesday, October 28, 2015 / Rules and Regulations
2 76 FR 47652 (Aug. 5, 2011).
the Federal Register on August 5, 2011.2
When it republished the transferred
OTS regulations as new FDIC
regulations, the FDIC specifically noted
that its staff would evaluate the
transferred OTS rules and might later
recommend incorporating the
transferred OTS regulations into other
FDIC rules, amending them, or
rescinding them, as appropriate.
II. Proposed Rule
A. Removal of Part 391, Subpart B
On January 30, 2015, the FDIC
published an NPR proposing to remove
part 391, subpart B, which was one of
the OTS’s former rules that was
transferred to the FDIC and governs
safety and soundness guidelines, the
submission and review of safety and
soundness compliance plans, and the
issuance of orders to correct safety and
soundness deficiencies. The OTS’s rule,
formerly found at 12 CFR part 570, was
transferred to the FDIC with only
nomenclature changes and is now found
in the FDIC’s rules at part 391, subpart
B, entitled ‘‘Safety and Soundness
Guidelines and Compliance
Procedures.’’ The ‘‘Interagency
Guidelines Establishing Standards for
Safety and Soundness’’ were found at
appendix A to part 391, subpart B, the
‘‘Interagency Guidelines Establishing
Information Security Standards’’ were
found at appendix B to part 391, subpart
B, and the ‘‘Interagency Guidance on
Response Programs for Unauthorized
Access to Customer Information and
Customer Notice’’ were found at the
supplement to appendix B to part 391,
subpart B.
Before the transfer of the OTS rules
and continuing today, the FDIC’s rules
contained part 364, entitled ‘‘Standards
for Safety and Soundness,’’ a rule
establishing safety and soundness
standards for State nonmember insured
banks and to State-licensed insured
branches of foreign banks, that are
subject to section 39 of the FDI Act, 12
U.S.C. 1831p–1. Part 364 also
established safety and soundness
standards relating to information
security for State nonmember insured
banks, insured State licensed branches
of foreign banks, and any subsidiaries of
such entities (except brokers, dealers,
persons providing insurance,
investment companies, and investment
advisors) as set out in appendix B to
part 364, the ‘‘Interagency Guidelines
Establishing Information Security
Standards’’ and supplement A to
appendix B to part 364, the ‘‘Interagency
Guidance on Response Programs for
Unauthorized Access to Customer
Information and Customer Notice.’’
Additionally, before the transfer of the
OTS rules and continuing today, the
FDIC’s rules contained part 308, subpart
R, entitled ‘‘Submission and Review of
Safety and Soundness Compliance Plans
and Issuance of Orders to Correct Safety
and Soundness Deficiencies.’’
The NPR proposed to remove part
391, subpart B, its appendices, and its
supplement because they are redundant
of the rules found in part 364, its
appendices, and its supplement and
part 308, subpart R. Rescinding part
391, subpart B, serves to streamline the
FDIC’s rules and eliminate unnecessary
regulations.
B. Amendments to Part 364, Its
Appendices, and Part 308, Subpart B
In addition, the NPR proposed to
revise part 308, subpart R, and part 364
and the accompanying appendices A
and B and supplement A to appendix B.
Furthermore, to clarify that part 308,
subpart R, and part 364 and its
accompanying appendices A and B and
supplement A to appendix B, apply to
all insured depository institutions for
which the FDIC has been designated the
appropriate Federal banking agency, the
NPR proposed to amend part 308,
subpart R, and part 364 and to reissue
the appendices and supplement A to
appendix B to part 364 to add ‘‘State
savings associations’’ within the list of
institutions to which the rules and the
appendices apply.
FDIC’s Existing 12 CFR Part 308,
Subpart R
Section 132 of the Federal Deposit
Insurance Corporation Improvement Act
of 1991 (‘‘FDICIA’’), Pub. L. 102–242,
added Section 39 to the FDI Act (12
U.S.C. 21 1831p–1), which required
each Federal banking agency to
establish by regulation certain safety
and soundness standards for the insured
depository institutions for which it was
the primary Federal regulator. Section
39 of the FDI Act was further amended
on September 23, 1994 by section 318
of the Riegle Community Development
and Regulatory Improvement Act of
1994, Pub. L. 103–325. In response to
Section 39 of the FDI Act, the FDIC
adopted subpart R of part 308 in 1995
to address the submission and review of
safety and soundness compliance plans
and issuance of orders to correct safety
and soundness deficiencies.
FDIC’s Existing 12 CFR Part 364 and
Appendices A and B and Supplement A
to Appendix B
Section 132 of the FDICIA, Pub. L.
102–242, added Section 39 to the FDI
Act (12 U.S.C. 21 1831p–1), which
required each Federal banking agency to
establish by regulation certain safety
and soundness standards for the insured
depository institutions for which it was
the primary Federal regulator. Section
39 of the FDI Act was further amended
on September 23, 1994 by section 318
of the Riegle Community Development
and Regulatory Improvement Act of
1994, Pub. L. 103–325. In response to
Section 39 of the FDI Act, the FDIC
adopted part 364 in 1995 and appendix
A to part 364, the ‘‘Interagency
Guidelines Establishing Standards for
Safety and Soundness,’’ in 1995. The
FDIC adopted appendix B to part 364,
the ‘‘Interagency Guidelines
Establishing Information Security
Standards,’’ in 1998. The FDIC adopted
supplement A to appendix B to part
364, the ‘‘Interagency Guidance on
Response Programs for Unauthorized
Access to Customer Information and
Customer Notice,’’ in 2005.
Former OTS’s 12 CFR Part 570
(Transferred to FDIC’s Part 391, Subpart
B)
In 1995, the OTS adopted 12 CFR part
570 as a final rule governing safety and
soundness guidelines and compliance
procedures for State savings
associations. The OTS adopted
appendix A to part 570, the
‘‘Interagency Guidelines Establishing
Standards for Safety and Soundness,’’ in
1995, adopted appendix B to part 570,
the ‘‘Interagency Guidelines
Establishing Information Security
Standards,’’ in 1998, and adopted the
supplement to appendix B, the
‘‘Interagency Guidance on Response
Programs for Unauthorized Access to
Customer Information and Customer
Notice,’’ in 2005.
Comparison of Former OTS’s 12 CFR
Part 570 (Transferred to FDIC’s Part
391, Subpart B) and FDIC’s Part 364 and
Part 308, Subpart R
Despite the differences addressed
above and minor technical nuances, the
OTS’s rule was otherwise substantively
similar to the FDIC’s rules governing
safety and soundness guidelines and
compliance procedures found in part
308, subpart R, and part 364 and its
accompanying appendices and
supplement. After careful comparison of
the OTS part 570 (which existed prior
to the transfer of the OTS rules to part
391) with the FDIC’s part 308, subpart
R, and the FDIC’s part 364, the FDIC
concluded that the transferred OTS
rules found at part 391, subpart B, and
the accompanying guidelines found in
appendices A and B and the supplement
to appendix B, are substantively
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Lhorne on DSK5TPTVN1PROD with RULES
2 76 FR 47652 (Aug. 5, 2011).
the Federal Register on August 5, 2011.2
When it republished the transferred
OTS regulations as new FDIC
regulations, the FDIC specifically noted
that its staff would evaluate the
transferred OTS rules and might later
recommend incorporating the
transferred OTS regulations into other
FDIC rules, amending them, or
rescinding them, as appropriate.
II. Proposed Rule
A. Removal of Part 391, Subpart B
On January 30, 2015, the FDIC
published an NPR proposing to remove
part 391, subpart B, which was one of
the OTS’s former rules that was
transferred to the FDIC and governs
safety and soundness guidelines, the
submission and review of safety and
soundness compliance plans, and the
issuance of orders to correct safety and
soundness deficiencies. The OTS’s rule,
formerly found at 12 CFR part 570, was
transferred to the FDIC with only
nomenclature changes and is now found
in the FDIC’s rules at part 391, subpart
B, entitled ‘‘Safety and Soundness
Guidelines and Compliance
Procedures.’’ The ‘‘Interagency
Guidelines Establishing Standards for
Safety and Soundness’’ were found at
appendix A to part 391, subpart B, the
‘‘Interagency Guidelines Establishing
Information Security Standards’’ were
found at appendix B to part 391, subpart
B, and the ‘‘Interagency Guidance on
Response Programs for Unauthorized
Access to Customer Information and
Customer Notice’’ were found at the
supplement to appendix B to part 391,
subpart B.
Before the transfer of the OTS rules
and continuing today, the FDIC’s rules
contained part 364, entitled ‘‘Standards
for Safety and Soundness,’’ a rule
establishing safety and soundness
standards for State nonmember insured
banks and to State-licensed insured
branches of foreign banks, that are
subject to section 39 of the FDI Act, 12
U.S.C. 1831p–1. Part 364 also
established safety and soundness
standards relating to information
security for State nonmember insured
banks, insured State licensed branches
of foreign banks, and any subsidiaries of
such entities (except brokers, dealers,
persons providing insurance,
investment companies, and investment
advisors) as set out in appendix B to
part 364, the ‘‘Interagency Guidelines
Establishing Information Security
Standards’’ and supplement A to
appendix B to part 364, the ‘‘Interagency
Guidance on Response Programs for
Unauthorized Access to Customer
Information and Customer Notice.’’
Additionally, before the transfer of the
OTS rules and continuing today, the
FDIC’s rules contained part 308, subpart
R, entitled ‘‘Submission and Review of
Safety and Soundness Compliance Plans
and Issuance of Orders to Correct Safety
and Soundness Deficiencies.’’
The NPR proposed to remove part
391, subpart B, its appendices, and its
supplement because they are redundant
of the rules found in part 364, its
appendices, and its supplement and
part 308, subpart R. Rescinding part
391, subpart B, serves to streamline the
FDIC’s rules and eliminate unnecessary
regulations.
B. Amendments to Part 364, Its
Appendices, and Part 308, Subpart B
In addition, the NPR proposed to
revise part 308, subpart R, and part 364
and the accompanying appendices A
and B and supplement A to appendix B.
Furthermore, to clarify that part 308,
subpart R, and part 364 and its
accompanying appendices A and B and
supplement A to appendix B, apply to
all insured depository institutions for
which the FDIC has been designated the
appropriate Federal banking agency, the
NPR proposed to amend part 308,
subpart R, and part 364 and to reissue
the appendices and supplement A to
appendix B to part 364 to add ‘‘State
savings associations’’ within the list of
institutions to which the rules and the
appendices apply.
FDIC’s Existing 12 CFR Part 308,
Subpart R
Section 132 of the Federal Deposit
Insurance Corporation Improvement Act
of 1991 (‘‘FDICIA’’), Pub. L. 102–242,
added Section 39 to the FDI Act (12
U.S.C. 21 1831p–1), which required
each Federal banking agency to
establish by regulation certain safety
and soundness standards for the insured
depository institutions for which it was
the primary Federal regulator. Section
39 of the FDI Act was further amended
on September 23, 1994 by section 318
of the Riegle Community Development
and Regulatory Improvement Act of
1994, Pub. L. 103–325. In response to
Section 39 of the FDI Act, the FDIC
adopted subpart R of part 308 in 1995
to address the submission and review of
safety and soundness compliance plans
and issuance of orders to correct safety
and soundness deficiencies.
FDIC’s Existing 12 CFR Part 364 and
Appendices A and B and Supplement A
to Appendix B
Section 132 of the FDICIA, Pub. L.
102–242, added Section 39 to the FDI
Act (12 U.S.C. 21 1831p–1), which
required each Federal banking agency to
establish by regulation certain safety
and soundness standards for the insured
depository institutions for which it was
the primary Federal regulator. Section
39 of the FDI Act was further amended
on September 23, 1994 by section 318
of the Riegle Community Development
and Regulatory Improvement Act of
1994, Pub. L. 103–325. In response to
Section 39 of the FDI Act, the FDIC
adopted part 364 in 1995 and appendix
A to part 364, the ‘‘Interagency
Guidelines Establishing Standards for
Safety and Soundness,’’ in 1995. The
FDIC adopted appendix B to part 364,
the ‘‘Interagency Guidelines
Establishing Information Security
Standards,’’ in 1998. The FDIC adopted
supplement A to appendix B to part
364, the ‘‘Interagency Guidance on
Response Programs for Unauthorized
Access to Customer Information and
Customer Notice,’’ in 2005.
Former OTS’s 12 CFR Part 570
(Transferred to FDIC’s Part 391, Subpart
B)
In 1995, the OTS adopted 12 CFR part
570 as a final rule governing safety and
soundness guidelines and compliance
procedures for State savings
associations. The OTS adopted
appendix A to part 570, the
‘‘Interagency Guidelines Establishing
Standards for Safety and Soundness,’’ in
1995, adopted appendix B to part 570,
the ‘‘Interagency Guidelines
Establishing Information Security
Standards,’’ in 1998, and adopted the
supplement to appendix B, the
‘‘Interagency Guidance on Response
Programs for Unauthorized Access to
Customer Information and Customer
Notice,’’ in 2005.
Comparison of Former OTS’s 12 CFR
Part 570 (Transferred to FDIC’s Part
391, Subpart B) and FDIC’s Part 364 and
Part 308, Subpart R
Despite the differences addressed
above and minor technical nuances, the
OTS’s rule was otherwise substantively
similar to the FDIC’s rules governing
safety and soundness guidelines and
compliance procedures found in part
308, subpart R, and part 364 and its
accompanying appendices and
supplement. After careful comparison of
the OTS part 570 (which existed prior
to the transfer of the OTS rules to part
391) with the FDIC’s part 308, subpart
R, and the FDIC’s part 364, the FDIC
concluded that the transferred OTS
rules found at part 391, subpart B, and
the accompanying guidelines found in
appendices A and B and the supplement
to appendix B, are substantively
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