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FDIC RIN: 3064-AE28 Publication ID: Spring 2016 
Title: Removal of Transferred OTS Regulations Regarding Safety and Soundness Guidelines and Compliance Procedures; Rules on Safety and Soundness 
Abstract:

The Federal Deposit Insurance Corporation (FDIC) is adopting a final rule to rescind and remove from the Code of Federal Regulations 12 CFR part 391, subpart B, entitled Safety and Soundness Guidelines and Compliance Procedures, appendices A and B to part 391, subpart B, and supplement A to appendix B. The Final Rule also amends 12 CFR part 308, subpart R, entitled Submission and Review of Safety and Soundness Compliance Plans and Issuance of Orders to Correct Safety and Soundness Deficiencies, and 12 CFR part 364, entitled Standards for Safety and Soundness and its corresponding appendices and supplement. Part 391, subpart B was one of several rules transferred to the FDIC following dissolution of the former Office of Thrift Supervision (OTS) in connection with the implementation of applicable provisions of Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Section 316(b)(3) of the Dodd-Frank Act provided that the former OTS rules that were transferred to the FDIC would be enforceable by or against the FDIC until they were modified, terminated, set aside, or superseded in accordance with applicable law by the FDIC, by any court of competent jurisdiction, or by operation of law. On January 30, 2015, the FDIC published in the Federal Register a notice of proposed rulemaking that explained and solicited public comment on a proposal to rescind and remove part 391, subpart B and to amend part 364, its appendices, and its supplement and part 308, subpart R by making them applicable to ‘‘State savings associations’’ and making minor technical updates to the appendices and supplement to part 364. The FDIC received no comments on the Proposed Rule and consequently is adopting the Final Rule as proposed in the NPR without change.

 

 

 
Agency: Federal Deposit Insurance Corporation(FDIC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: uncollected 
CFR Citation: 12 CFR 308    12 CFR 364    12 CFR 391   
Legal Authority: 5 U.S.C. 504    5 U.S.C. 554 to 557    12 U.S.C. 93(b)    12 U.S.C. 164    12 U.S.C. 505    ...   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  01/30/2015  80 FR 5052   
NPRM Comment Period End  03/31/2015 
Final Rule  10/28/2015  80 FR 65903   
Final Rule Effective  11/27/2015 
Additional Information: Email: Comments@fdic.gov. Include RIN 3064-AE28 on the subject line of the message.
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: www.fdic.gov/regulations/laws/federal/   Public Comment URL: www.fdic.gov/regulations/laws/federal/  
RIN Data Printed in the FR: No 
Agency Contact:
Rebecca M. Parks
Review Examiner
Federal Deposit Insurance Corporation
550 17th Street NW.,
Washington, DC 20429
Phone:202 898-3912
Email: rparks@fdic.gov

Jann L. Harley
Senior Attorney
Federal Deposit Insurance Corporation
550 17th Street NW.,
Washington, DC 20429
Phone:312 382-6535
Email: jharley@fdic.gov

Michael Condon
Counsel
Federal Deposit Insurance Corporation
550 17th Street NW,
Washington, DC 20429
Phone:202 898-6536
Email: mcondon@fdic.gov