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TREAS/OCC RIN: 1557-AD36 Publication ID: Spring 2011 
Title: Regarding Alternatives to the Use of External Credit Ratings in the Regulations of the OCC 
Abstract: Section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act directs all Federal agencies to review, no later than one year from enactment, any regulation that requires the use of an assessment of credit-worthiness of a security or money market instrument and any references to or requirements in regulations regarding credit ratings. The agencies are also required to remove references or requirements of reliance on credit ratings and to substitute an alternative standard of credit-worthiness. The OCC issued an advance notice of proposed rulemaking to seek comment on implementation of the statute with respect to its regulations (other than risk-based capital regulations, which will be addressed separately), including alternative measures of credit-worthiness that may be used in lieu of credit ratings. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: Undetermined 
CFR Citation: 12 CFR 1    12 CFR 5    12 CFR 16    12 CFR 28   
Legal Authority: PL 111-203, sec 939A    12 USC 1 et seq    12 USC 24(Seventh)    12 USC 93a    12 USC 161    12 USC 602    12 USC 1818    12 USC 3101 et seq    12 USC 3901 et seq   
Legal Deadline:
Action Source Description Date
Final  Statutory  Final Rule   07/21/2011 

Overall Description of Deadline: July 21, 2011.

Timetable:
Action Date FR Cite
ANPRM  08/13/2010  75 FR 49423   
ANPRM Comment Period End  10/12/2010    
NPRM  07/00/2011    
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Carl Kaminski
Assistant Director
Department of the Treasury
Comptroller of the Currency
Chief Counsel's Office, 400 7th Street SW,
Washington, DC 20219
Phone:202 649-5869
Email: carl.kaminski@occ.treas.gov