Federal Register / Vol. 86, No. 27 / Thursday, February 11, 2021 / Notices 9071 

circumstances or conditions related to 

the subject accounts; or failure to satisfy 

conditions applicable to each. The 

following exception was granted by the 

FDIC as of February 4, 2021. 

I. Mortgage Servicing Accounts for 

Which the Covered Institution’s System 

of Record Cannot Calculate Principal 

and Interest at an Account Level at a 

Given Point in Time 

The FDIC granted time-limited 

exception relief to covered institutions 

up to March 31, 2022, from the 

information technology system 

requirements of 12 CFR 370.3 and the 

recordkeeping requirements of 12 CFR 

370.4 for principal and interest 

payments held in mortgage servicing 

accounts for which the covered 

institutions act as servicers or subservicers. The recommended relief will 

provide the covered institutions 

additional time to remediate their 

servicing platforms and internal 

processing capabilities pending further 

direction from the FDIC. 

Pursuant to 12 CFR 330.7(d), mortgage 

principal and interest payments are 

insured for the cumulative balance paid 

into the account by the mortgagors, up 

to the limit of the standard maximum 

deposit insurance amount per 

mortgagor. If a covered institution does 

not maintain deposit records that enable 

it to calculate deposit insurance, the 

covered institution must maintain, at a 

minimum, the following in its deposit 

account records: (i) The unique 

identifier of the account holder; and (ii) 

the corresponding ‘‘pending reason’’ 

code listed in pending file format set 

forth in Appendix B to Part 370. 

The covered institutions service the 

mortgage loans using platforms hosted 

by third party vendors. Principal and 

interest payments from mortgagors are 

placed into the mortgage servicing 

accounts with the funds held in custody 

for the investors that own the 

underlying mortgages. Because the loans 

are tracked and managed as a group by 

pool, the servicing platforms do not 

have a mechanism to allocate the 

mortgage servicing accounts balances to 

specific mortgagors. As a result, the 

covered institutions do not have a 

process to input mortgagor principal 

and interest data into their information 

technology systems to calculate deposit 

insurance coverage for the mortgage 

servicing accounts. 

Remediation efforts are underway and 

include the development of a business 

requirements document, system 

updates, implementation, and testing. 

However, a number of the covered 

institutions have asked the FDIC for 

additional clarification of the part 370 

recordkeeping rule with respect to the 

mortgage servicing accounts to 

determine how to produce borrower 

account level principal and interest data 

on a date of failure. Given the 

complexities of payments to investors 

under the agreements with the covered 

institutions, additional information 

from the FDIC is needed to finalize 

programming logic and various business 

requirements documents between the 

Banks and their service providers. 

The FDIC’s grant of relief is subject to 

the condition that each covered 

institution must submit within 60 days, 

upon receipt of additional information 

from the FDIC with respect to the part 

370 processing for the mortgage 

servicing account ownership right and 

capacity code, a status report setting 

forth the project plan and timeline for 

integrating the mortgage servicing 

account ownership right and capacity 

code processing capabilities into the 

covered institution’s information 

technology system. 

The FDIC reserves the right to rescind 

or modify the grant of relief upon any 

material change of circumstances or 

conditions related to the accounts 

subject to this request. 

Federal Deposit Insurance Corporation. 

Dated at Washington, DC, on February 5, 

2021. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2021–02781 Filed 2–10–21; 8:45 am] 

BILLING CODE 6714–01–P 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

Notice of Termination of Receiverships 

The Federal Deposit Insurance 

Corporation (FDIC or Receiver), as 

Receiver for each of the following 

insured depository institutions, was 

charged with the duty of winding up the 

affairs of the former institutions and 

liquidating all related assets. The 

Receiver has fulfilled its obligations and 

made all dividend distributions 

required by law. 

NOTICE OF TERMINATION OF RECEIVERSHIPS

Fund Receivership name City State Termination 

date 

10152 ............. The Buckhead Community Bank ....................... Atlanta ................................................................ GA .......... 02/01/2021 

10245 ............. Sun West Bank .................................................. Las Vegas .......................................................... NV .......... 02/01/2021 

10277 ............. Palos Bank And Trust Company ....................... Palos Heights ..................................................... IL ............ 02/01/2021 

10280 ............. Imperial Savings & Loan Association ................ Martinsville ......................................................... VA .......... 02/01/2021 

10502 ............. Valley Bank ........................................................ Moline ................................................................. IL ............ 02/01/2021 

The Receiver has further irrevocably 

authorized and appointed FDICCorporate as its attorney-in-fact to 

execute and file any and all documents 

that may be required to be executed by 

the Receiver which FDIC-Corporate, in 

its sole discretion, deems necessary, 

including but not limited to releases, 

discharges, satisfactions, endorsements, 

assignments, and deeds. Effective on the 

termination dates listed above, the 

Receiverships have been terminated, the 

Receiver has been discharged, and the 

Receiverships have ceased to exist as 

legal entities. 

(Authority: 12 U.S.C. 1819) 

Federal Deposit Insurance Corporation. 

Dated at Washington, DC, on February 5, 

2021. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2021–02783 Filed 2–10–21; 8:45 am] 

BILLING CODE 6714–01–P 

DEPARTMENT OF HEALTH AND 

HUMAN SERVICES 

Food and Drug Administration 

[Docket No. FDA–2021–N–0173] 

Vaccines and Related Biological 

Products Advisory Committee; Notice 

of Meeting; Establishment of a Public 

Docket; Request for Comments 

AGENCY: Food and Drug Administration, 

HHS. 


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