9698 Federal Register / Vol. 84, No. 52 / Monday, March 18, 2019 / Rules and Regulations
access to Government information and
services, and for other purposes.
Executive Order 12988, Civil Justice
Reform
This final rule has been reviewed
under E.O. 12988, Civil Justice Reform.
Under this rule: (1) All State and local
laws and regulations that are
inconsistent with this rule will be
preempted; (2) no retroactive effect will
be given to this rule; and (3) no
administrative proceedings will be
required before parties may file suit in
court challenging this rule.
Executive Order 13175
This rule has been reviewed in
accordance with the requirements of
E.O. 13175, ‘‘Consultation and
Coordination with Indian Tribal
Governments.’’ E.O. 13175 requires
Federal agencies to consult and
coordinate with tribes on a government-
to-government basis on policies that
have tribal implications, including
regulations, legislative comments or
proposed legislation, and other policy
statements or actions that have
substantial direct effects on one or more
Indian tribes, on the relationship
between the Federal Government and
Indian tribes or on the distribution of
power and responsibilities between the
Federal Government and Indian tribes.
FSIS has assessed the impact of this
rule on Indian tribes and determined
that this rule does not, to our
knowledge, have tribal implications that
require tribal consultation under E.O.
13175. If a Tribe requests consultation,
FSIS will work with the Office of Tribal
Relations to ensure meaningful
consultation is provided where changes,
additions and modifications identified
herein are not expressly mandated by
Congress.
USDA Non-Discrimination Statement
No agency, officer, or employee of the
USDA shall, on the grounds of race,
color, national origin, religion, sex,
gender identity, sexual orientation,
disability, age, marital status, family/
parental status, income derived from a
public assistance program, or political
beliefs, exclude from participation in,
deny the benefits of, or subject to
discrimination any person in the United
States under any program or activity
conducted by the USDA.
How To File a Complaint of
Discrimination
To file a complaint of discrimination,
complete the USDA Program
Discrimination Complaint Form, which
may be accessed online at http://
www.ocio.usda.gov/sites/default/files/
docs/2012/Complain_combined_6_8_
12.pdf, or write a letter signed by you
or your authorized representative.
Send your completed complaint form
or letter to USDA by mail, fax, or email:
Mail: U.S. Department of Agriculture,
Director, Office of Adjudication, 1400
Independence Avenue SW, Washington,
DC 20250–9410, Fax: (202) 690–7442
Email: program.intake@usda.gov.
Persons with disabilities who require
alternative means for communication
(Braille, large print, audiotape, etc.),
should contact USDA’s TARGET Center
at (202) 720–2600 (voice and TDD).
Additional Public Notification
Public awareness of all segments of
rulemaking and policy development is
important. Consequently, FSIS will
announce this Federal Register
publication online through the FSIS
web page located at: http://
www.fsis.usda.gov/federal-register.
FSIS also will make copies of this
publication available through the FSIS
Constituent Update, which is used to
provide information regarding FSIS
policies, procedures, regulations,
Federal Register notices, FSIS public
meetings, and other types of information
that could affect or would be of interest
to our constituents and stakeholders.
The Constituent Update is available on
the FSIS web page. Through the web
page, FSIS is able to provide
information to a much broader, more
diverse audience. In addition, FSIS
offers an email subscription service
which provides automatic and
customized access to selected food
safety news and information. This
service is available at: http://
www.fsis.usda.gov/subscribe. Options
range from recalls to export information,
regulations, directives, and notices.
Customers can add or delete
subscriptions themselves, and have the
option to password protect their
accounts.
List of Subjects in 9 CFR Part 316
Food labeling, Food packaging, Meat
inspection.
For the reasons set forth in the
preamble, FSIS is amending 9 CFR part
316 as follows:
PART 316—MARKING PRODUCTS
AND THEIR CONTAINERS
■ 1. The authority citation for part 316
is revised to read as follows:
Authority: 21 U.S.C. 601–695; 7 CFR 2.18,
2.55.
■ 2. In § 316.9, revise paragraph (a),
redesignate paragraphs (b) through (d)
as paragraphs (c) through (e),
respectively, and add a new paragraph
(b) to read as follows:
§ 316.9 Products to be marked with official
marks.
(a) Each carcass that has been
inspected and passed in an official
establishment must be marked at the
time of inspection with the official
inspection legend containing the
number of the official establishment, if
the carcass is to be shipped into
commerce from the establishment
without further processing.
(b) A passed and inspected carcass
that is to be further processed in the
slaughtering establishment need not be
marked with the official inspection
legend at the time of inspection.
* * * * *
Done in Washington, DC.
Carmen M. Rottenberg,
Administrator.
[FR Doc. 2019–04993 Filed 3–15–19; 8:45 am]
BILLING CODE 3410–DM–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 350
RIN 3064–AE65
Disclosure of Financial and Other
Information by FDIC-Insured State
Nonmember Banks
AGENCY: Federal Deposit Insurance
Corporation.
ACTION: Final rule.
SUMMARY: The Federal Deposit
Insurance Corporation (FDIC) is
amending its regulations by rescinding
and removing its regulations entitled
Disclosure of Financial and Other
Information By FDIC-Insured State
Nonmember Banks. Upon the removal
of the regulations, all insured state
nonmember banks and insured state-
licensed branches of foreign banks
(collectively, ‘‘banks’’) would no longer
be subject to the annual disclosure
statement requirement set out in the
existing regulations. The financial and
other information that has been subject
to disclosure by individual banks under
the regulations is publicly available
through the FDIC’s website.
DATES: This rule will be effective April
17, 2019.
FOR FURTHER INFORMATION CONTACT:
Robert Storch, Chief Accountant,
Division of Risk Management
Supervision, (202) 898–8906 or rstorch@
fdic.gov; Andrew Overton, Examination
Specialist (Bank Accounting), Division
of Risk Management Supervision, (202)
VerDate Sep<11>2014 15:57 Mar 15, 2019 Jkt 247001 PO 00000 Frm 00006 Fmt 4700 Sfmt 4700 E:\FR\FM\18MRR1.SGM 18MRR1
access to Government information and
services, and for other purposes.
Executive Order 12988, Civil Justice
Reform
This final rule has been reviewed
under E.O. 12988, Civil Justice Reform.
Under this rule: (1) All State and local
laws and regulations that are
inconsistent with this rule will be
preempted; (2) no retroactive effect will
be given to this rule; and (3) no
administrative proceedings will be
required before parties may file suit in
court challenging this rule.
Executive Order 13175
This rule has been reviewed in
accordance with the requirements of
E.O. 13175, ‘‘Consultation and
Coordination with Indian Tribal
Governments.’’ E.O. 13175 requires
Federal agencies to consult and
coordinate with tribes on a government-
to-government basis on policies that
have tribal implications, including
regulations, legislative comments or
proposed legislation, and other policy
statements or actions that have
substantial direct effects on one or more
Indian tribes, on the relationship
between the Federal Government and
Indian tribes or on the distribution of
power and responsibilities between the
Federal Government and Indian tribes.
FSIS has assessed the impact of this
rule on Indian tribes and determined
that this rule does not, to our
knowledge, have tribal implications that
require tribal consultation under E.O.
13175. If a Tribe requests consultation,
FSIS will work with the Office of Tribal
Relations to ensure meaningful
consultation is provided where changes,
additions and modifications identified
herein are not expressly mandated by
Congress.
USDA Non-Discrimination Statement
No agency, officer, or employee of the
USDA shall, on the grounds of race,
color, national origin, religion, sex,
gender identity, sexual orientation,
disability, age, marital status, family/
parental status, income derived from a
public assistance program, or political
beliefs, exclude from participation in,
deny the benefits of, or subject to
discrimination any person in the United
States under any program or activity
conducted by the USDA.
How To File a Complaint of
Discrimination
To file a complaint of discrimination,
complete the USDA Program
Discrimination Complaint Form, which
may be accessed online at http://
www.ocio.usda.gov/sites/default/files/
docs/2012/Complain_combined_6_8_
12.pdf, or write a letter signed by you
or your authorized representative.
Send your completed complaint form
or letter to USDA by mail, fax, or email:
Mail: U.S. Department of Agriculture,
Director, Office of Adjudication, 1400
Independence Avenue SW, Washington,
DC 20250–9410, Fax: (202) 690–7442
Email: program.intake@usda.gov.
Persons with disabilities who require
alternative means for communication
(Braille, large print, audiotape, etc.),
should contact USDA’s TARGET Center
at (202) 720–2600 (voice and TDD).
Additional Public Notification
Public awareness of all segments of
rulemaking and policy development is
important. Consequently, FSIS will
announce this Federal Register
publication online through the FSIS
web page located at: http://
www.fsis.usda.gov/federal-register.
FSIS also will make copies of this
publication available through the FSIS
Constituent Update, which is used to
provide information regarding FSIS
policies, procedures, regulations,
Federal Register notices, FSIS public
meetings, and other types of information
that could affect or would be of interest
to our constituents and stakeholders.
The Constituent Update is available on
the FSIS web page. Through the web
page, FSIS is able to provide
information to a much broader, more
diverse audience. In addition, FSIS
offers an email subscription service
which provides automatic and
customized access to selected food
safety news and information. This
service is available at: http://
www.fsis.usda.gov/subscribe. Options
range from recalls to export information,
regulations, directives, and notices.
Customers can add or delete
subscriptions themselves, and have the
option to password protect their
accounts.
List of Subjects in 9 CFR Part 316
Food labeling, Food packaging, Meat
inspection.
For the reasons set forth in the
preamble, FSIS is amending 9 CFR part
316 as follows:
PART 316—MARKING PRODUCTS
AND THEIR CONTAINERS
■ 1. The authority citation for part 316
is revised to read as follows:
Authority: 21 U.S.C. 601–695; 7 CFR 2.18,
2.55.
■ 2. In § 316.9, revise paragraph (a),
redesignate paragraphs (b) through (d)
as paragraphs (c) through (e),
respectively, and add a new paragraph
(b) to read as follows:
§ 316.9 Products to be marked with official
marks.
(a) Each carcass that has been
inspected and passed in an official
establishment must be marked at the
time of inspection with the official
inspection legend containing the
number of the official establishment, if
the carcass is to be shipped into
commerce from the establishment
without further processing.
(b) A passed and inspected carcass
that is to be further processed in the
slaughtering establishment need not be
marked with the official inspection
legend at the time of inspection.
* * * * *
Done in Washington, DC.
Carmen M. Rottenberg,
Administrator.
[FR Doc. 2019–04993 Filed 3–15–19; 8:45 am]
BILLING CODE 3410–DM–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 350
RIN 3064–AE65
Disclosure of Financial and Other
Information by FDIC-Insured State
Nonmember Banks
AGENCY: Federal Deposit Insurance
Corporation.
ACTION: Final rule.
SUMMARY: The Federal Deposit
Insurance Corporation (FDIC) is
amending its regulations by rescinding
and removing its regulations entitled
Disclosure of Financial and Other
Information By FDIC-Insured State
Nonmember Banks. Upon the removal
of the regulations, all insured state
nonmember banks and insured state-
licensed branches of foreign banks
(collectively, ‘‘banks’’) would no longer
be subject to the annual disclosure
statement requirement set out in the
existing regulations. The financial and
other information that has been subject
to disclosure by individual banks under
the regulations is publicly available
through the FDIC’s website.
DATES: This rule will be effective April
17, 2019.
FOR FURTHER INFORMATION CONTACT:
Robert Storch, Chief Accountant,
Division of Risk Management
Supervision, (202) 898–8906 or rstorch@
fdic.gov; Andrew Overton, Examination
Specialist (Bank Accounting), Division
of Risk Management Supervision, (202)
VerDate Sep<11>2014 15:57 Mar 15, 2019 Jkt 247001 PO 00000 Frm 00006 Fmt 4700 Sfmt 4700 E:\FR\FM\18MRR1.SGM 18MRR1
9699Federal Register / Vol. 84, No. 52 / Monday, March 18, 2019 / Rules and Regulations
1 See 52 FR 49379 (December 31, 1987).
2 See 60 FR 66866 (December 27, 1995).
3 See 63 FR 37630 (July 13, 1998).
4 See 82 FR 8082 (January 23, 2017).
5 https://cdr.ffiec.gov/public/Manage
Facsimiles.aspx.
6 https://research.fdic.gov/bankfind/.
7 https://www5.fdic.gov/EDO/index.html.
898–8922 or aoverton@fdic.gov; Michael
Condon, Counsel, Legal Division, (202)
898–6536 or mcondon@fdic.gov.
SUPPLEMENTARY INFORMATION:
I. Policy Objectives
The policy objective of the final rule
is to simplify the FDIC’s regulations by
removing unnecessary or redundant
regulations. The final rule rescinds and
removes part 350 from the Code of
Federal Regulations. Technological
advancements over the past 30 years
provide the public with ready access to
more extensive and timely information
on the condition and performance of
individual banks, obviating the need for
the annual disclosure statement
requirements in part 350.
II. Background
Part 350 was adopted by the FDIC
Board of Directors on December 17,
1987, and took effect February 1, 1988.1
In general, part 350 requires FDIC-
insured state nonmember banks and
FDIC-insured state-licensed branches of
foreign banks (collectively, ‘‘banks’’) to
prepare, and make available on request,
annual disclosure statements consisting
of: (1) Required financial data
comparable to specified schedules in
the Consolidated Reports of Condition
and Income (Call Report) filed for the
previous two year-ends; (2) information
that the FDIC may require of particular
banks, which could include disclosure
of enforcement actions; and (3) other
information at a bank’s option. Part 350
also permits the use of certain
alternatives to the Call Report as a
disclosure statement. Part 350 does not
apply to the insured state savings
associations that are supervised by the
FDIC.
The annual disclosure statement for a
particular year must be prepared, and
made available to the public, by March
31 of the following year, or the fifth day
after an organization’s annual report
covering the year is sent to
shareholders, whichever occurs first.
Banks are required to announce the
availability of the disclosure statements
in lobby notices in each of their offices
and in notices of annual meetings sent
to shareholders.
In adopting part 350, the FDIC’s intent
was to improve public awareness and
understanding of the financial condition
of individual banks. In the preamble to
the December 1987 final rule, the FDIC
stated that ‘‘improved financial
disclosure should reduce the likelihood
of the market or bank customers
overreacting to incomplete
information.’’ The FDIC also said it
believed the disclosure requirement
‘‘will complement its supervisory efforts
and enhance public confidence in the
banking system.’’ With limited
resources available for the public to
gather, analyze, and understand
information about the financial
condition of individual banks before
and during the 1980s, the FDIC’s
adoption of part 350 provided the
public with an opportunity to obtain
certain basic bank financial information.
After the FDIC adopted part 350, the
Office of the Comptroller of the
Currency (OCC) and the Federal Reserve
Board (FRB) adopted similar disclosure
regulations. When initially adopted, the
disclosure regulations adopted by the
FDIC (12 CFR part 350), the FRB (12
CFR 208.17), and the OCC (12 CFR part
18) were substantially uniform. These
regulations required institutions to
make almost identical information
available to the public upon request.
The former Office of Thrift Supervision
(OTS) had a similar, but not identical,
disclosure regulation (12 CFR 562.3). As
a result of its review of regulations
pursuant to Section 303(a) of the Riegle
Community Development and
Regulatory Improvement Act of 1994,
the OTS repealed 12 CFR 562.3 as
unnecessary in 1995.2 In 1998, the FRB
eliminated 12 CFR 208.17, Disclosure of
Financial Information by State Member
Banks, from its regulations on the basis
that Call Report information for banks
had become available through the
internet.3 In 2017, the OCC removed 12
CFR part 18 from its regulations, noting
that the information it required national
banks to disclose is contained in other
publicly available documents, which
meant that 12 CFR part 18 is duplicative
and unnecessary.4
With advancements in information
technology since part 350 was adopted,
including widespread public access to
the internet (including through public
libraries for individuals without their
own direct personal access to the
internet), information about the
financial condition of individual
insured depository institutions is now
reliably and directly offered to the
public through the FDIC’s and the
Federal Financial Institutions
Examination Council’s (FFIEC)
websites. For example, information
about the financial condition and
performance of all insured depository
institutions is publicly available each
quarter through the Call Report and the
Uniform Bank Performance Report
(UBPR). In addition, enforcement
actions taken by the FDIC are readily
available to the public from the FDIC’s
website.
The Call Report contains an
institution’s balance sheet, income
statement, and supplemental schedules
that disclose additional details about the
major categories of assets and liabilities,
regulatory capital, and other financial
information. Since the successful
deployment of the FFIEC’s Central Data
Repository (CDR) Public Data
Distribution (PDD) website,5 the public
has had ready access to financial
information for each insured depository
institution. The public is able to obtain
more current Call Report data for
individual institutions in various
formats from the FFIEC’s CDR PDD
website than the financial information
available in the annual disclosure
statement required by part 350.
Individual institution Call Report data
generally are posted on this website
within 24 hours after the data have been
submitted to and accepted by the CDR.
The UBPR is an analytical tool created
for bank supervisory, examination, and
management purposes that shows the
impact of management decisions and
economic conditions on a bank’s
performance and balance-sheet
composition. The content of the UBPR
is calculated each quarter primarily
from Call Report data. UBPRs for
individual institutions are available to
the public via the CDR PDD website. An
institution’s UBPR is usually published
online within a day after its Call Report
has been filed with and accepted by the
CDR. Online access to an institution’s
UBPR each quarter complements the
public’s use of the institution’s Call
Report and further expands upon the
amount of publicly available financial
data for an institution beyond the
limited financial information provided
in the annual disclosure statement
required by part 350. The public is able
to easily locate the Call Report and the
UBPR for a bank through the FDIC
BankFind tool, which is available on the
FDIC’s website.6
In addition, on a monthly basis, the
FDIC publishes a press release listing
the administrative enforcement actions
it has taken against banks and
individuals during the preceding
month. Enforcement actions taken by
the FDIC since 1990 are available to the
public on the FDIC’s website.7
Interested parties may also obtain
VerDate Sep<11>2014 15:57 Mar 15, 2019 Jkt 247001 PO 00000 Frm 00007 Fmt 4700 Sfmt 4700 E:\FR\FM\18MRR1.SGM 18MRR1
1 See 52 FR 49379 (December 31, 1987).
2 See 60 FR 66866 (December 27, 1995).
3 See 63 FR 37630 (July 13, 1998).
4 See 82 FR 8082 (January 23, 2017).
5 https://cdr.ffiec.gov/public/Manage
Facsimiles.aspx.
6 https://research.fdic.gov/bankfind/.
7 https://www5.fdic.gov/EDO/index.html.
898–8922 or aoverton@fdic.gov; Michael
Condon, Counsel, Legal Division, (202)
898–6536 or mcondon@fdic.gov.
SUPPLEMENTARY INFORMATION:
I. Policy Objectives
The policy objective of the final rule
is to simplify the FDIC’s regulations by
removing unnecessary or redundant
regulations. The final rule rescinds and
removes part 350 from the Code of
Federal Regulations. Technological
advancements over the past 30 years
provide the public with ready access to
more extensive and timely information
on the condition and performance of
individual banks, obviating the need for
the annual disclosure statement
requirements in part 350.
II. Background
Part 350 was adopted by the FDIC
Board of Directors on December 17,
1987, and took effect February 1, 1988.1
In general, part 350 requires FDIC-
insured state nonmember banks and
FDIC-insured state-licensed branches of
foreign banks (collectively, ‘‘banks’’) to
prepare, and make available on request,
annual disclosure statements consisting
of: (1) Required financial data
comparable to specified schedules in
the Consolidated Reports of Condition
and Income (Call Report) filed for the
previous two year-ends; (2) information
that the FDIC may require of particular
banks, which could include disclosure
of enforcement actions; and (3) other
information at a bank’s option. Part 350
also permits the use of certain
alternatives to the Call Report as a
disclosure statement. Part 350 does not
apply to the insured state savings
associations that are supervised by the
FDIC.
The annual disclosure statement for a
particular year must be prepared, and
made available to the public, by March
31 of the following year, or the fifth day
after an organization’s annual report
covering the year is sent to
shareholders, whichever occurs first.
Banks are required to announce the
availability of the disclosure statements
in lobby notices in each of their offices
and in notices of annual meetings sent
to shareholders.
In adopting part 350, the FDIC’s intent
was to improve public awareness and
understanding of the financial condition
of individual banks. In the preamble to
the December 1987 final rule, the FDIC
stated that ‘‘improved financial
disclosure should reduce the likelihood
of the market or bank customers
overreacting to incomplete
information.’’ The FDIC also said it
believed the disclosure requirement
‘‘will complement its supervisory efforts
and enhance public confidence in the
banking system.’’ With limited
resources available for the public to
gather, analyze, and understand
information about the financial
condition of individual banks before
and during the 1980s, the FDIC’s
adoption of part 350 provided the
public with an opportunity to obtain
certain basic bank financial information.
After the FDIC adopted part 350, the
Office of the Comptroller of the
Currency (OCC) and the Federal Reserve
Board (FRB) adopted similar disclosure
regulations. When initially adopted, the
disclosure regulations adopted by the
FDIC (12 CFR part 350), the FRB (12
CFR 208.17), and the OCC (12 CFR part
18) were substantially uniform. These
regulations required institutions to
make almost identical information
available to the public upon request.
The former Office of Thrift Supervision
(OTS) had a similar, but not identical,
disclosure regulation (12 CFR 562.3). As
a result of its review of regulations
pursuant to Section 303(a) of the Riegle
Community Development and
Regulatory Improvement Act of 1994,
the OTS repealed 12 CFR 562.3 as
unnecessary in 1995.2 In 1998, the FRB
eliminated 12 CFR 208.17, Disclosure of
Financial Information by State Member
Banks, from its regulations on the basis
that Call Report information for banks
had become available through the
internet.3 In 2017, the OCC removed 12
CFR part 18 from its regulations, noting
that the information it required national
banks to disclose is contained in other
publicly available documents, which
meant that 12 CFR part 18 is duplicative
and unnecessary.4
With advancements in information
technology since part 350 was adopted,
including widespread public access to
the internet (including through public
libraries for individuals without their
own direct personal access to the
internet), information about the
financial condition of individual
insured depository institutions is now
reliably and directly offered to the
public through the FDIC’s and the
Federal Financial Institutions
Examination Council’s (FFIEC)
websites. For example, information
about the financial condition and
performance of all insured depository
institutions is publicly available each
quarter through the Call Report and the
Uniform Bank Performance Report
(UBPR). In addition, enforcement
actions taken by the FDIC are readily
available to the public from the FDIC’s
website.
The Call Report contains an
institution’s balance sheet, income
statement, and supplemental schedules
that disclose additional details about the
major categories of assets and liabilities,
regulatory capital, and other financial
information. Since the successful
deployment of the FFIEC’s Central Data
Repository (CDR) Public Data
Distribution (PDD) website,5 the public
has had ready access to financial
information for each insured depository
institution. The public is able to obtain
more current Call Report data for
individual institutions in various
formats from the FFIEC’s CDR PDD
website than the financial information
available in the annual disclosure
statement required by part 350.
Individual institution Call Report data
generally are posted on this website
within 24 hours after the data have been
submitted to and accepted by the CDR.
The UBPR is an analytical tool created
for bank supervisory, examination, and
management purposes that shows the
impact of management decisions and
economic conditions on a bank’s
performance and balance-sheet
composition. The content of the UBPR
is calculated each quarter primarily
from Call Report data. UBPRs for
individual institutions are available to
the public via the CDR PDD website. An
institution’s UBPR is usually published
online within a day after its Call Report
has been filed with and accepted by the
CDR. Online access to an institution’s
UBPR each quarter complements the
public’s use of the institution’s Call
Report and further expands upon the
amount of publicly available financial
data for an institution beyond the
limited financial information provided
in the annual disclosure statement
required by part 350. The public is able
to easily locate the Call Report and the
UBPR for a bank through the FDIC
BankFind tool, which is available on the
FDIC’s website.6
In addition, on a monthly basis, the
FDIC publishes a press release listing
the administrative enforcement actions
it has taken against banks and
individuals during the preceding
month. Enforcement actions taken by
the FDIC since 1990 are available to the
public on the FDIC’s website.7
Interested parties may also obtain
VerDate Sep<11>2014 15:57 Mar 15, 2019 Jkt 247001 PO 00000 Frm 00007 Fmt 4700 Sfmt 4700 E:\FR\FM\18MRR1.SGM 18MRR1