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| FDIC | RIN: 3064-AE36 | Publication ID: Fall 2015 |
| Title: ●Alternatives to Credit Ratings with Respect to Permissible Activities for Foreign Branches of Insured State Nonmember Banks and Pledge of Assets by Insured Domestic Branches of Foreign Banks | |
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Abstract:
The FDIC is seeking public comment on a proposed rule to amend its international banking regulations in accordance with the requirements of section 939A of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which instructs each Federal agency to review and modify regulations that reference credit ratings. The proposed rule would amend 12 CFR part 347, subparts A and B (Subpart A and Subpart B, respectively), of the FDIC’s regulations on International Banking. Subpart A would be amended to replace references to credit ratings with alternative standards of creditworthiness. Subpart B would revise the FDIC’s asset pledge requirement for insured U.S. branches of foreign banks to eliminate three categories of assets that are currently eligible for pledging purposes because such categories reference credit ratings. |
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| Agency: Federal Deposit Insurance Corporation(FDIC) | Priority: Substantive, Nonsignificant |
| RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
| Major: No | Unfunded Mandates: No |
| CFR Citation: 12 CFR 347 | |
| Legal Authority: 12 U.S.C. 1813 12 U.S.C. 1815 12 U.S.C. 1817 12 U.S.C. 1819 | |
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Legal Deadline:
None |
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Timetable:
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| Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
| Small Entities Affected: No | Federalism: No |
| Included in the Regulatory Plan: No | |
| International Impacts: This regulatory action will be likely to have international trade and investment effects, or otherwise be of international interest. | |
| RIN Data Printed in the FR: No | |
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Agency Contact: Catherine Topping Counsel Federal Deposit Insurance Corporation 550 17th Street NW, Washington, DC 20429 Phone:202 898-3975 Email: ctopping@fdic.gov |
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