Vol. 82 Thursday,
No. 163 August 24, 2017
Part XXV
Federal Deposit Insurance Corporation
Semiannual Regulatory Agenda
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No. 163 August 24, 2017
Part XXV
Federal Deposit Insurance Corporation
Semiannual Regulatory Agenda
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40438 Federal Register / Vol. 82, No. 163 / Thursday, August 24, 2017 / 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 Spring 2017
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 Rule Stage
Enhanced Cyber Risk Management
Standards (3064–AE45)
On October 26, 2016, the Board of
Governors of the Federal Reserve
System, the Office of the Comptroller of
the Currency, and the Federal Deposit
Insurance Corporation published in the
Federal Register an advanced notice of
proposed rulemaking (ANPRM)
regarding enhanced cyber risk
management standards for large and
interconnected entities under their
supervision and those entities’ service
providers. The ANPRM addresses five
categories of cyber standards: Cyber risk
governance; cyber risk management;
internal dependency management;
external dependency management; and
incident response, cyber resilience, and
situational awareness. Due to the range
and complexity of the issues addressed
in the ANPRM the public comment
period was extended until February 17,
2017. This action allowed interested
persons additional time to analyze the
proposal and prepare their comments.
* Real Estate Appraisals (3064–AE56)
The OCC, Board, FDIC, and NCUA
(collectively, the Agencies) are seeking
comment on a proposed rule to amend
the agencies’ regulations regarding
appraisals of real estate, adopted
pursuant to title XI of the Financial
Institutions Reform, Recovery, and
Enforcement Act of 1989 (Title XI). Title
XI requires the agencies to adopt
regulations regarding the performance of
appraisals used in connection with
federally related transactions (Title XI
appraisals) within the jurisdiction of
each agency. As discussed below, the
agencies received comments requesting
that the agencies require title XI
appraisals for fewer transactions as part
of a regulatory review process mandated
by the Economic Growth and Regulatory
Paperwork Reduction Act. The
proposed amendments would increase
the threshold level at or below which
title XI appraisals are not required for
commercial real estate loans to
$400,000, as defined in this regulation.
For commercial real estate loans below
the threshold, the amended rule would
require institutions to obtain an
evaluation of the real property collateral
consistent with safe and sound banking
practices, if the institution does not
obtain a title XI appraisal. The agencies
also propose to amend their appraisal
regulations to require that appraisals for
federally related transactions are subject
to appropriate review for compliance
with the Uniform Standards of
Professional Appraisal Practice, as
required by an amendment to title XI
included in section 1473(e) of the Dodd-
Frank Wall Street Reform and Consumer
Protection Act.
* Management Official Interlocks (3064–
AE57)
The OCC, Board, and the FDIC are
seeking comment on a joint proposed
rule to revise their respective
regulations that implement the
Depository Institution Management
Interlocks Act (DIMIA). The proposed
rule would adjust asset thresholds for
the DIMIA major asset prohibition,
which prohibits management officials
for depository institutions with assets in
excess of specified levels from engaging
in management interlocks (an
individual may not serve as an official
of two unaffiliated depository
institutions with assets in excess of the
specified levels). The levels are
currently set at $2.5 billion and $1.5
billion. Based on inflation or market
changes, current inflation adjusted
thresholds would be $3.6 billion and
$2.16 billion.
* Community Reinvestment Act
Regulations (3064–AE58)
The Office of the Comptroller of the
Currency, Board of Governors of the
Federal Reserve System, and the Federal
Deposit Insurance Corporation propose
(1) To amend their regulations
implementing the Community
Reinvestment Act to update the existing
definitions of home mortgage loan and
consumer loan, related cross references,
and the public file content requirements
to reflect recent revisions made by the
Consumer Financial Protection Bureau
to Regulation C, which implements the
Home Mortgage Disclosure Act, and (2)
to remove obsolete references to the
Neighborhood Stabilization Program.
Regulatory Capital Rules: Simplification
of Generally Applicable Rules (3064–
AE59)
The OCC, Board, and FDIC (the
Agencies) seek comment on a joint
proposed rule to revise the generally
applicable capital rules with the goal of
meaningfully reducing regulatory
burden on community banking
organizations while at the same time
maintaining safety and soundness and
the quality and quantity of regulatory
capital in the banking system. The
proposal includes (1) Replacing the
framework’s complex treatment of high
volatility commercial real estate
(HVCRE) exposures with a more
straightforward treatment for most
acquisition, development, or
construction (ADC) loans; (2)
simplifying the current regulatory
capital treatment for mortgage servicing
assets (MSAs), timing difference
deferred tax assets (DTAs), and holdings
of regulatory capital instruments issued
by financial institutions; and (3)
simplifying the current limitations on
minority interests in regulatory capital.
* Reporting and Recordkeeping
Requirements for Covered Trading
Activities (3064–AE60)
The OCC, Board, FDIC, CFTC, and
SEC are requesting comment on a
proposed rule that would modify the
reporting and recordkeeping
requirements for covered trading
activities under appendix A of the final
rule implementing section 13 of the
Bank Holding Company Act of 1956,
which was added by section 619 of the
Dodd-Frank Wall Street Reform and
Consumer Protection Act. The Agencies
adopted a final rule implementing
section 13 that became effective on
April 1, 2014. In appendix A of the final
rule, the Agencies said they would
review the data collected and revise the
collection requirement as appropriate
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mstockstill on DSK30JT082PROD with PROPOSAL25
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 Spring 2017
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 Rule Stage
Enhanced Cyber Risk Management
Standards (3064–AE45)
On October 26, 2016, the Board of
Governors of the Federal Reserve
System, the Office of the Comptroller of
the Currency, and the Federal Deposit
Insurance Corporation published in the
Federal Register an advanced notice of
proposed rulemaking (ANPRM)
regarding enhanced cyber risk
management standards for large and
interconnected entities under their
supervision and those entities’ service
providers. The ANPRM addresses five
categories of cyber standards: Cyber risk
governance; cyber risk management;
internal dependency management;
external dependency management; and
incident response, cyber resilience, and
situational awareness. Due to the range
and complexity of the issues addressed
in the ANPRM the public comment
period was extended until February 17,
2017. This action allowed interested
persons additional time to analyze the
proposal and prepare their comments.
* Real Estate Appraisals (3064–AE56)
The OCC, Board, FDIC, and NCUA
(collectively, the Agencies) are seeking
comment on a proposed rule to amend
the agencies’ regulations regarding
appraisals of real estate, adopted
pursuant to title XI of the Financial
Institutions Reform, Recovery, and
Enforcement Act of 1989 (Title XI). Title
XI requires the agencies to adopt
regulations regarding the performance of
appraisals used in connection with
federally related transactions (Title XI
appraisals) within the jurisdiction of
each agency. As discussed below, the
agencies received comments requesting
that the agencies require title XI
appraisals for fewer transactions as part
of a regulatory review process mandated
by the Economic Growth and Regulatory
Paperwork Reduction Act. The
proposed amendments would increase
the threshold level at or below which
title XI appraisals are not required for
commercial real estate loans to
$400,000, as defined in this regulation.
For commercial real estate loans below
the threshold, the amended rule would
require institutions to obtain an
evaluation of the real property collateral
consistent with safe and sound banking
practices, if the institution does not
obtain a title XI appraisal. The agencies
also propose to amend their appraisal
regulations to require that appraisals for
federally related transactions are subject
to appropriate review for compliance
with the Uniform Standards of
Professional Appraisal Practice, as
required by an amendment to title XI
included in section 1473(e) of the Dodd-
Frank Wall Street Reform and Consumer
Protection Act.
* Management Official Interlocks (3064–
AE57)
The OCC, Board, and the FDIC are
seeking comment on a joint proposed
rule to revise their respective
regulations that implement the
Depository Institution Management
Interlocks Act (DIMIA). The proposed
rule would adjust asset thresholds for
the DIMIA major asset prohibition,
which prohibits management officials
for depository institutions with assets in
excess of specified levels from engaging
in management interlocks (an
individual may not serve as an official
of two unaffiliated depository
institutions with assets in excess of the
specified levels). The levels are
currently set at $2.5 billion and $1.5
billion. Based on inflation or market
changes, current inflation adjusted
thresholds would be $3.6 billion and
$2.16 billion.
* Community Reinvestment Act
Regulations (3064–AE58)
The Office of the Comptroller of the
Currency, Board of Governors of the
Federal Reserve System, and the Federal
Deposit Insurance Corporation propose
(1) To amend their regulations
implementing the Community
Reinvestment Act to update the existing
definitions of home mortgage loan and
consumer loan, related cross references,
and the public file content requirements
to reflect recent revisions made by the
Consumer Financial Protection Bureau
to Regulation C, which implements the
Home Mortgage Disclosure Act, and (2)
to remove obsolete references to the
Neighborhood Stabilization Program.
Regulatory Capital Rules: Simplification
of Generally Applicable Rules (3064–
AE59)
The OCC, Board, and FDIC (the
Agencies) seek comment on a joint
proposed rule to revise the generally
applicable capital rules with the goal of
meaningfully reducing regulatory
burden on community banking
organizations while at the same time
maintaining safety and soundness and
the quality and quantity of regulatory
capital in the banking system. The
proposal includes (1) Replacing the
framework’s complex treatment of high
volatility commercial real estate
(HVCRE) exposures with a more
straightforward treatment for most
acquisition, development, or
construction (ADC) loans; (2)
simplifying the current regulatory
capital treatment for mortgage servicing
assets (MSAs), timing difference
deferred tax assets (DTAs), and holdings
of regulatory capital instruments issued
by financial institutions; and (3)
simplifying the current limitations on
minority interests in regulatory capital.
* Reporting and Recordkeeping
Requirements for Covered Trading
Activities (3064–AE60)
The OCC, Board, FDIC, CFTC, and
SEC are requesting comment on a
proposed rule that would modify the
reporting and recordkeeping
requirements for covered trading
activities under appendix A of the final
rule implementing section 13 of the
Bank Holding Company Act of 1956,
which was added by section 619 of the
Dodd-Frank Wall Street Reform and
Consumer Protection Act. The Agencies
adopted a final rule implementing
section 13 that became effective on
April 1, 2014. In appendix A of the final
rule, the Agencies said they would
review the data collected and revise the
collection requirement as appropriate
VerDate Sep<11>2014 18:31 Aug 23, 2017 Jkt 241001 PO 00000 Frm 00002 Fmt 4701 Sfmt 4702 E:\FR\FM\24AUP25.SGM 24AUP25
mstockstill on DSK30JT082PROD with PROPOSAL25