8583Federal Register / Vol. 60, No. 31 / Wednesday, February 15, 1995 / Proposed Rules
12 The OECD-based group of countries comprises
all full members of the Organization for Economic
Cooperation and Development (OECD), as well as
countries that have concluded special lending
arrangements with the International Monetary Fund
(IMF) associated with the IMF’s General
Arrangements to Borrow, but excludes any country
that has rescheduled its external sovereign debt
within the previous five years. The OECD includes
the following countries: Australia, Austria,
Belgium, Canada, Denmark, Finland, France,
Germany, Greece, Iceland, Ireland, Italy, Japan,
Luxembourg, Mexico, the Netherlands, New
Zealand, Norway, Portugal, Spain, Sweden,
Switzerland, Turkey, the United Kingdom and the
United States. Saudi Arabia has concluded special
lending arrangements with the IMF associated with
the IMF’s General Arrangements to Borrow.
or bank qualify for placement in a lower
risk category. As part of this review, the
Basle Committee reassessed whether
membership in the OECD (or the
conclusion of special lending
arrangements with the IMF) would, by
itself, be sufficient to ensure that only
countries with relatively low transfer
risk would continue to be eligible for
lower risk weight treatment.
On July 15, 1994, the Basle Committee
made an announcement to clarify that
the reference in the Basle Accord to
OECD members applies to all current
members of the organization. The
announcement also stated that it is the
Basle Committee’s intention, subject to
national consultation, to record a
change to the Basle Accord in 1995 that
would modify the definition of the
OECD-based group of countries for risk-
based capital purposes. The change, if
adopted, would exclude from lower risk
weight treatment any country within the
OECD-based group of countries that has
rescheduled its external sovereign debt
within the previous five years. The
Basle Committee announcement was
endorsed by the G–10 Governors.
II. Proposed Rule
In view of the Basle Committee’s
announcement, the FDIC is proposing to
amend its risk-based capital guidelines
to modify the definition of the OECD-
based group of countries. Under the
proposal, the OECD-based group of
countries would continue to include
countries that are currently full
members of the OECD, regardless of
entry date, as well as countries that have
concluded special lending arrangements
with the IMF associated with the Fund’s
General Arrangements to Borrow, but
would exclude any country within this
group that has rescheduled its external
sovereign debt within the previous five
years. The effect of the proposed
modification would be to clarify that
membership in the OECD-based group
of countries must coincide with
relatively low transfer risk in order for
a country to be eligible for differentiated
capital treatment.
For purposes of this proposal, an
event of rescheduling of external
sovereign debt generally would include
renegotiations of terms arising from the
country’s inability or unwillingness to
meet its external debt service
obligations. Renegotiations of debt in
the normal course of business generally
do not indicate transfer risk of the kind
that would preclude an OECD-based
country from qualifying for lower risk
weight treatment. One example of such
a routine renegotiation would be a
renegotiation to allow the borrower to
take advantage of a change in market
conditions, such as a decline in interest
rates.
The FDIC invites comment on all
aspects of this proposal.
III. Regulatory Flexibility Act
The Board of Directors of the FDIC
hereby certifies that adoption of this
proposed amendment to part 325 will
not have a significant economic impact
on a substantial number of small
business entities (in this case, small
banking organizations) within the
meaning of the Regulatory Flexibility
Act requirements (5 U.S.C. 601 et seq.).
This amendment will not necessitate the
development of sophisticated
recordkeeping or reporting systems by
small institutions nor will small
institutions need to seek out the
expertise of specialized accountants,
lawyers, or managers to comply with
this regulation. In light of this
certification, the Regulatory Flexibility
Act requirements (at 5 U.S.C. 603, 604)
to prepare initial and final regulatory
flexibility analyses do not apply.
IV. Paperwork Reduction Act
The FDIC has determined that the
proposed amendment, if adopted,
would not increase the regulatory
paperwork burden of state nonmember
banks pursuant to the provisions of the
Paperwork Reduction Act (44 U.S.C.
3501 et seq.). Consequently, no
information has been submitted to the
Office of Management and Budget for
review.
List of Subjects in 12 CFR Part 325
Bank deposit insurance, Banks,
Banking, Capital adequacy, Reporting
and recordkeeping requirements,
Savings Associations, State nonmember
banks.
For the reasons set forth in the
preamble, the Board of Directors of the
Federal Deposit Insurance Corporation
proposes to amend part 325 of title 12
of the Code of Federal Regulations as
follows:
PART 325—CAPITAL MAINTENANCE
1. The authority citation for Part 325
continues to read as follows:
Authority: 12 U.S.C. 1815(a), 1815(b),
1816, 1818(a), 1818(b), 1818(c), 1818(t),
1819(Tenth), 1828(c), 1828(d), 1828(i),
1828(n), 1828(o), 1831o, 3907, 3909; Pub. L.
102–233, 105 Stat. 1761, 1789, 1790 (12
U.S.C. 1831n note); Pub. L. 102–242, 105
Stat. 2236, 2355, 2386 (12 U.S.C. 1828 note).
2. Appendix A to part 325 is amended
by revising footnote 12 in section II.B.2.
to read as follows:
Appendix A to Part 325—Statement of
Policy on Risk-Based Capital
* * * * *
II. * * *
B. * * *
2. * * * 12 * * *
* * * * *
By order of the Board of Directors.
Dated at Washington, D.C. this 31st day of
January, 1995.
Federal Deposit Insurance Cprporation
Robert E. Feldman,
Acting Executive Secretary.
[FR Doc. 95–3692 Filed 2–14–95; 8:45 am]
BILLING CODE 6714–01–P
12 CFR Part 363
RIN 3064—AA83
Annual Independent Audits and
Reporting Requirements
AGENCY: Federal Deposit Insurance
Corporation (FDIC or Corporation).
ACTION: Notice of proposed rulemaking.
SUMMARY: Section 314 of the Riegle
Community Development and
Regulatory Improvement Act of 1994
(RCDRIA) amends sections 36(i) and
36(g)(2) of the Federal Deposit Insurance
Act (FDI Act). Section 36 of the FDI Act
is generally intended to facilitate early
identification of problems in financial
management through annual
independent audits, assessments of the
effectiveness of internal controls and of
compliance with designated laws and
regulations, and more stringent
reporting requirements. Section 314(a)
provides relief from certain duplicative
reporting under section 36 of the FDI
Act for sound, well managed insured
depository institutions with over $9
billion in total assets which are
subsidiaries of multibank holding
companies. Section 314(b) requires the
Corporation to notify a large insured
depository institution in writing if it
decides a review by an independent
public accountant of such institution’s
quarterly financial reports is required.
12 The OECD-based group of countries comprises
all full members of the Organization for Economic
Cooperation and Development (OECD), as well as
countries that have concluded special lending
arrangements with the International Monetary Fund
(IMF) associated with the IMF’s General
Arrangements to Borrow, but excludes any country
that has rescheduled its external sovereign debt
within the previous five years. The OECD includes
the following countries: Australia, Austria,
Belgium, Canada, Denmark, Finland, France,
Germany, Greece, Iceland, Ireland, Italy, Japan,
Luxembourg, Mexico, the Netherlands, New
Zealand, Norway, Portugal, Spain, Sweden,
Switzerland, Turkey, the United Kingdom and the
United States. Saudi Arabia has concluded special
lending arrangements with the IMF associated with
the IMF’s General Arrangements to Borrow.
or bank qualify for placement in a lower
risk category. As part of this review, the
Basle Committee reassessed whether
membership in the OECD (or the
conclusion of special lending
arrangements with the IMF) would, by
itself, be sufficient to ensure that only
countries with relatively low transfer
risk would continue to be eligible for
lower risk weight treatment.
On July 15, 1994, the Basle Committee
made an announcement to clarify that
the reference in the Basle Accord to
OECD members applies to all current
members of the organization. The
announcement also stated that it is the
Basle Committee’s intention, subject to
national consultation, to record a
change to the Basle Accord in 1995 that
would modify the definition of the
OECD-based group of countries for risk-
based capital purposes. The change, if
adopted, would exclude from lower risk
weight treatment any country within the
OECD-based group of countries that has
rescheduled its external sovereign debt
within the previous five years. The
Basle Committee announcement was
endorsed by the G–10 Governors.
II. Proposed Rule
In view of the Basle Committee’s
announcement, the FDIC is proposing to
amend its risk-based capital guidelines
to modify the definition of the OECD-
based group of countries. Under the
proposal, the OECD-based group of
countries would continue to include
countries that are currently full
members of the OECD, regardless of
entry date, as well as countries that have
concluded special lending arrangements
with the IMF associated with the Fund’s
General Arrangements to Borrow, but
would exclude any country within this
group that has rescheduled its external
sovereign debt within the previous five
years. The effect of the proposed
modification would be to clarify that
membership in the OECD-based group
of countries must coincide with
relatively low transfer risk in order for
a country to be eligible for differentiated
capital treatment.
For purposes of this proposal, an
event of rescheduling of external
sovereign debt generally would include
renegotiations of terms arising from the
country’s inability or unwillingness to
meet its external debt service
obligations. Renegotiations of debt in
the normal course of business generally
do not indicate transfer risk of the kind
that would preclude an OECD-based
country from qualifying for lower risk
weight treatment. One example of such
a routine renegotiation would be a
renegotiation to allow the borrower to
take advantage of a change in market
conditions, such as a decline in interest
rates.
The FDIC invites comment on all
aspects of this proposal.
III. Regulatory Flexibility Act
The Board of Directors of the FDIC
hereby certifies that adoption of this
proposed amendment to part 325 will
not have a significant economic impact
on a substantial number of small
business entities (in this case, small
banking organizations) within the
meaning of the Regulatory Flexibility
Act requirements (5 U.S.C. 601 et seq.).
This amendment will not necessitate the
development of sophisticated
recordkeeping or reporting systems by
small institutions nor will small
institutions need to seek out the
expertise of specialized accountants,
lawyers, or managers to comply with
this regulation. In light of this
certification, the Regulatory Flexibility
Act requirements (at 5 U.S.C. 603, 604)
to prepare initial and final regulatory
flexibility analyses do not apply.
IV. Paperwork Reduction Act
The FDIC has determined that the
proposed amendment, if adopted,
would not increase the regulatory
paperwork burden of state nonmember
banks pursuant to the provisions of the
Paperwork Reduction Act (44 U.S.C.
3501 et seq.). Consequently, no
information has been submitted to the
Office of Management and Budget for
review.
List of Subjects in 12 CFR Part 325
Bank deposit insurance, Banks,
Banking, Capital adequacy, Reporting
and recordkeeping requirements,
Savings Associations, State nonmember
banks.
For the reasons set forth in the
preamble, the Board of Directors of the
Federal Deposit Insurance Corporation
proposes to amend part 325 of title 12
of the Code of Federal Regulations as
follows:
PART 325—CAPITAL MAINTENANCE
1. The authority citation for Part 325
continues to read as follows:
Authority: 12 U.S.C. 1815(a), 1815(b),
1816, 1818(a), 1818(b), 1818(c), 1818(t),
1819(Tenth), 1828(c), 1828(d), 1828(i),
1828(n), 1828(o), 1831o, 3907, 3909; Pub. L.
102–233, 105 Stat. 1761, 1789, 1790 (12
U.S.C. 1831n note); Pub. L. 102–242, 105
Stat. 2236, 2355, 2386 (12 U.S.C. 1828 note).
2. Appendix A to part 325 is amended
by revising footnote 12 in section II.B.2.
to read as follows:
Appendix A to Part 325—Statement of
Policy on Risk-Based Capital
* * * * *
II. * * *
B. * * *
2. * * * 12 * * *
* * * * *
By order of the Board of Directors.
Dated at Washington, D.C. this 31st day of
January, 1995.
Federal Deposit Insurance Cprporation
Robert E. Feldman,
Acting Executive Secretary.
[FR Doc. 95–3692 Filed 2–14–95; 8:45 am]
BILLING CODE 6714–01–P
12 CFR Part 363
RIN 3064—AA83
Annual Independent Audits and
Reporting Requirements
AGENCY: Federal Deposit Insurance
Corporation (FDIC or Corporation).
ACTION: Notice of proposed rulemaking.
SUMMARY: Section 314 of the Riegle
Community Development and
Regulatory Improvement Act of 1994
(RCDRIA) amends sections 36(i) and
36(g)(2) of the Federal Deposit Insurance
Act (FDI Act). Section 36 of the FDI Act
is generally intended to facilitate early
identification of problems in financial
management through annual
independent audits, assessments of the
effectiveness of internal controls and of
compliance with designated laws and
regulations, and more stringent
reporting requirements. Section 314(a)
provides relief from certain duplicative
reporting under section 36 of the FDI
Act for sound, well managed insured
depository institutions with over $9
billion in total assets which are
subsidiaries of multibank holding
companies. Section 314(b) requires the
Corporation to notify a large insured
depository institution in writing if it
decides a review by an independent
public accountant of such institution’s
quarterly financial reports is required.
8584 Federal Register / Vol. 60, No. 31 / Wednesday, February 15, 1995 / Proposed Rules
The Corporation’s regulations governing
annual independent audits implement
section 36 of the FDI Act and this
proposed amendment seeks to conform
the regulations to the amended statute.
In addition, the FDIC proposes several
minor, technical amendments to the
guidelines and interpretations
(Guidelines), published as an appendix
concerning compliance with certain
provisions of section 36. The FDIC also
proposes to amend the schedule
entitled, ‘‘Agreed Upon Procedures for
Determining Compliance with
Designated Laws’’, to implement recent
amendments to the federal regulations
concerning loans to insiders improve
the format of the procedures, streamline
the specific procedures, and eliminate
ambiguities. These proposed
amendments reflect the experience of
the Corporation, institutions, and
accountants with the existing
procedures during the past year.
DATES: Comments must be received by
April 17, 1995.
ADDRESSES: Send comments to Robert E.
Feldman, Acting Executive Secretary,
FDIC, 550 17th Street, N.W.,
Washington, D.C. 20429. Comments
may be hand-delivered to room 400,
1776 F Street, N.W., Washington, D.C.
20429 on business days between 8:30
a.m. and 5:00 p.m. (FAX number: (202)
898–3838.) Comments will be available
for inspection in room 7118, 550 17th
Street, N.W., Washington, D.C., between
9 a.m. and 4:30 p.m. on business days.
FOR FURTHER INFORMATION CONTACT:
Doris L. Marsh, Examination Specialist,
Division of Supervision, (202) 898–
8905, or Sandra Comenetz, Counsel,
Legal Division, (202) 898–3582, FDIC,
550 17th Street N.W., Washington, D.C.
20429.
SUPPLEMENTARY INFORMATION:
I. Background
Section 112 of the Federal Deposit
Insurance Corporation Improvement Act
of 1991 (FDICIA) added section 36,
‘‘Independent Annual Audits of Insured
Depository Institutions’’, to the FDI Act
(12 U.S.C. 1831m). Section 36 requires
the FDIC, in consultation with the
appropriate federal banking agencies, to
promulgate regulations requiring each
insured depository institution over a
certain asset size (covered institution) to
have an annual independent audit of its
financial statements performed in
accordance with generally accepted
auditing standards and section 37 of the
FDI Act (12 U.S.C. 1831n), and to
provide a management report and
independent public accountant’s
attestation concerning both the
effectiveness of the institution’s internal
controls for financial reporting and its
compliance with designated safety and
soundness laws. Section 36 also
requires each covered institution to
have an independent audit committee.
The audit committee of each large
covered institution (total assets
exceeding $3 billion) must meet
additional requirements.
Section 36 also requires the FDIC, in
consultation with the other federal
banking agencies, to designate laws and
regulations concerning safety and
soundness. This section requires the
institution’s independent public
accountant to perform procedures
agreed upon by the Corporation to
determine an institution’s compliance
with these designated laws and
regulations. The ‘‘Designated Laws’’
selected by the Corporation are the
federal laws and regulations concerning
loans to insiders and the federal and
state laws and regulations concerning
dividend restrictions.
In June 1993, the FDIC published 12
CFR part 363 (58 FR 31332, June 2,
1993) to implement the provisions of
section 36 of the FDI Act. Under part
363, the requirements of section 36
apply to each insured depository
institution with $500 million or more in
total assets at the beginning of any fiscal
year that begins after December 31,
1992.
Section 314 of RCDRIA amends
sections 36(i) and 36(g)(2) of the FDI Act
(12 U.S.C. 1831m (i) and (g)(2)). The
purpose of section 314(a) is to provide
relief from certain duplicative reporting
under section 36 of the FDI Act for
sound, well managed insured
depository institutions with over $9
billion in total assets which are
subsidiaries of multibank holding
companies. Section 314(b) requires the
Corporation to notify a large insured
depository institution in writing if it
decides to require a review by an
independent public accountant of such
institution’s quarterly financial reports.
In addition, the federal regulations
concerning loans to insiders (Federal
Reserve Regulation O, 12 CFR part 215),
which are included in one of the
Designated Laws, were amended during
1994.
The FDIC proposes certain
amendments to 12 CFR Part 363, which
conform Part 363 to the amended
statute. The FDIC also proposes several
minor, technical amendments to the
guidelines and interpretations
(Guidelines), published as Appendix A
to part 363, concerning compliance with
certain provisions of section 36.
In addition, a year’s experience with
Part 363 indicates that a clarification of
certain of the specific procedures in
Schedule A to Appendix A of the
Guidelines would make them more
efficient and less burdensome. The FDIC
therefore proposes to amend Schedule A
to Appendix A—Agreed Upon
Procedures for Determining Compliance
with Designated Laws, to reflect the
recent amendments to the federal
regulations concerning loans to insiders
(12 CFR Part 215), improve the format
of the procedures, streamline the
specific procedures, and eliminate
ambiguities. The proposed amendments
reflect the experience of the
Corporation, institutions, and
accountants dealing with the existing
procedures during the past year.
Section 36(g)(2) of the FDI Act
authorizes the FDIC to require
independent public accountants for
‘‘large institutions’’ to review such
institutions’ quarterly financial reports.
This provision is amended by Section
314(b) of RCDRIA to add section 36(g)(3)
which requires the Corporation to notify
a large insured depository institution in
writing if it decides to require a review
of its quarterly financial reports by an
independent public accountant. When
the FDIC adopted Part 363, it elected not
to exercise its authority in this area for
reasons of cost and limited expected
benefits, preferring instead to request
such reviews on a case-by-case basis.
The FDIC has not changed its opinion.
Should the FDIC decide to request an
independent public accountant’s review
of the quarterly financial statements of
a large insured depository institution, it
will make the request in writing.
II. The Proposal
The FDIC proposes to make
conforming amendments to Part 363 so
that it is consistent with section 36 as
amended by section 314 of RCDRIA, and
to make minor, technical, and clarifying
changes to the Guidelines in Appendix
A. In addition, the FDIC proposes to
amend and reformat the specific
procedures in Schedule A to Appendix
A to make them more efficient and less
burdensome.
A. Amendments to the Rule
Section 363.1—Scope. In § 363.1(b),
the phrase ‘‘but less than $9 billion’’
would be deleted from the provisions of
the regulation describing the
institutions eligible to report using the
holding company exception set forth in
section 36(i). This revision would make
the regulation consistent with the
amendment to section 36(i) made by
section 314 of RCDRIA. In addition, the
subsection would be reformatted and
another paragraph added to incorporate
the provisions of section 314(a)(3) of
RCDRIA which identifies the
The Corporation’s regulations governing
annual independent audits implement
section 36 of the FDI Act and this
proposed amendment seeks to conform
the regulations to the amended statute.
In addition, the FDIC proposes several
minor, technical amendments to the
guidelines and interpretations
(Guidelines), published as an appendix
concerning compliance with certain
provisions of section 36. The FDIC also
proposes to amend the schedule
entitled, ‘‘Agreed Upon Procedures for
Determining Compliance with
Designated Laws’’, to implement recent
amendments to the federal regulations
concerning loans to insiders improve
the format of the procedures, streamline
the specific procedures, and eliminate
ambiguities. These proposed
amendments reflect the experience of
the Corporation, institutions, and
accountants with the existing
procedures during the past year.
DATES: Comments must be received by
April 17, 1995.
ADDRESSES: Send comments to Robert E.
Feldman, Acting Executive Secretary,
FDIC, 550 17th Street, N.W.,
Washington, D.C. 20429. Comments
may be hand-delivered to room 400,
1776 F Street, N.W., Washington, D.C.
20429 on business days between 8:30
a.m. and 5:00 p.m. (FAX number: (202)
898–3838.) Comments will be available
for inspection in room 7118, 550 17th
Street, N.W., Washington, D.C., between
9 a.m. and 4:30 p.m. on business days.
FOR FURTHER INFORMATION CONTACT:
Doris L. Marsh, Examination Specialist,
Division of Supervision, (202) 898–
8905, or Sandra Comenetz, Counsel,
Legal Division, (202) 898–3582, FDIC,
550 17th Street N.W., Washington, D.C.
20429.
SUPPLEMENTARY INFORMATION:
I. Background
Section 112 of the Federal Deposit
Insurance Corporation Improvement Act
of 1991 (FDICIA) added section 36,
‘‘Independent Annual Audits of Insured
Depository Institutions’’, to the FDI Act
(12 U.S.C. 1831m). Section 36 requires
the FDIC, in consultation with the
appropriate federal banking agencies, to
promulgate regulations requiring each
insured depository institution over a
certain asset size (covered institution) to
have an annual independent audit of its
financial statements performed in
accordance with generally accepted
auditing standards and section 37 of the
FDI Act (12 U.S.C. 1831n), and to
provide a management report and
independent public accountant’s
attestation concerning both the
effectiveness of the institution’s internal
controls for financial reporting and its
compliance with designated safety and
soundness laws. Section 36 also
requires each covered institution to
have an independent audit committee.
The audit committee of each large
covered institution (total assets
exceeding $3 billion) must meet
additional requirements.
Section 36 also requires the FDIC, in
consultation with the other federal
banking agencies, to designate laws and
regulations concerning safety and
soundness. This section requires the
institution’s independent public
accountant to perform procedures
agreed upon by the Corporation to
determine an institution’s compliance
with these designated laws and
regulations. The ‘‘Designated Laws’’
selected by the Corporation are the
federal laws and regulations concerning
loans to insiders and the federal and
state laws and regulations concerning
dividend restrictions.
In June 1993, the FDIC published 12
CFR part 363 (58 FR 31332, June 2,
1993) to implement the provisions of
section 36 of the FDI Act. Under part
363, the requirements of section 36
apply to each insured depository
institution with $500 million or more in
total assets at the beginning of any fiscal
year that begins after December 31,
1992.
Section 314 of RCDRIA amends
sections 36(i) and 36(g)(2) of the FDI Act
(12 U.S.C. 1831m (i) and (g)(2)). The
purpose of section 314(a) is to provide
relief from certain duplicative reporting
under section 36 of the FDI Act for
sound, well managed insured
depository institutions with over $9
billion in total assets which are
subsidiaries of multibank holding
companies. Section 314(b) requires the
Corporation to notify a large insured
depository institution in writing if it
decides to require a review by an
independent public accountant of such
institution’s quarterly financial reports.
In addition, the federal regulations
concerning loans to insiders (Federal
Reserve Regulation O, 12 CFR part 215),
which are included in one of the
Designated Laws, were amended during
1994.
The FDIC proposes certain
amendments to 12 CFR Part 363, which
conform Part 363 to the amended
statute. The FDIC also proposes several
minor, technical amendments to the
guidelines and interpretations
(Guidelines), published as Appendix A
to part 363, concerning compliance with
certain provisions of section 36.
In addition, a year’s experience with
Part 363 indicates that a clarification of
certain of the specific procedures in
Schedule A to Appendix A of the
Guidelines would make them more
efficient and less burdensome. The FDIC
therefore proposes to amend Schedule A
to Appendix A—Agreed Upon
Procedures for Determining Compliance
with Designated Laws, to reflect the
recent amendments to the federal
regulations concerning loans to insiders
(12 CFR Part 215), improve the format
of the procedures, streamline the
specific procedures, and eliminate
ambiguities. The proposed amendments
reflect the experience of the
Corporation, institutions, and
accountants dealing with the existing
procedures during the past year.
Section 36(g)(2) of the FDI Act
authorizes the FDIC to require
independent public accountants for
‘‘large institutions’’ to review such
institutions’ quarterly financial reports.
This provision is amended by Section
314(b) of RCDRIA to add section 36(g)(3)
which requires the Corporation to notify
a large insured depository institution in
writing if it decides to require a review
of its quarterly financial reports by an
independent public accountant. When
the FDIC adopted Part 363, it elected not
to exercise its authority in this area for
reasons of cost and limited expected
benefits, preferring instead to request
such reviews on a case-by-case basis.
The FDIC has not changed its opinion.
Should the FDIC decide to request an
independent public accountant’s review
of the quarterly financial statements of
a large insured depository institution, it
will make the request in writing.
II. The Proposal
The FDIC proposes to make
conforming amendments to Part 363 so
that it is consistent with section 36 as
amended by section 314 of RCDRIA, and
to make minor, technical, and clarifying
changes to the Guidelines in Appendix
A. In addition, the FDIC proposes to
amend and reformat the specific
procedures in Schedule A to Appendix
A to make them more efficient and less
burdensome.
A. Amendments to the Rule
Section 363.1—Scope. In § 363.1(b),
the phrase ‘‘but less than $9 billion’’
would be deleted from the provisions of
the regulation describing the
institutions eligible to report using the
holding company exception set forth in
section 36(i). This revision would make
the regulation consistent with the
amendment to section 36(i) made by
section 314 of RCDRIA. In addition, the
subsection would be reformatted and
another paragraph added to incorporate
the provisions of section 314(a)(3) of
RCDRIA which identifies the