Document headings vary by document type but may contain
                    the following: the agency or agencies that issued and signed a document
the number of the CFR title and the number of each part
                      the document amends, proposes to amend, or is directly
                      related to
the agency docket number / agency internal file number
the RIN which identifies each regulatory action listed in
                      the Unified Agenda of Federal Regulatory and Deregulatory
                      Actions See the
                    Document Drafting Handbook
                    for more details.
 Federal Reserve System 12 CFR Chapter II
 AGENCY: Board of Governors of the Federal Reserve System.
 ACTION: Semiannual regulatory agenda.
 SUMMARY: The Board is issuing this agenda under the Regulatory Flexibility Act and the Board's Statement of Policy Regarding Expanded Rulemaking Procedures. The Board anticipates having under consideration regulatory matters as indicated below during the period November 1, 2020, through April 30, 2020. The next agenda will be published in spring 2021.
 DATES: Comments about the form or content of the agenda may be submitted any time during the next 6 months.
 ADDRESSES: Comments should be addressed to Ann E. Misback, Secretary of the Board, Board of Governors of the Federal Reserve System, Washington, DC 20551.
 FOR FURTHER INFORMATION CONTACT: A staff contact for each item is indicated with the regulatory description below.


SUPPLEMENTARY INFORMATION: The Board is publishing its fall 2020 agenda as part of the Fall 2020 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget under Executive Order 12866. The agenda also identifies rules the Board has selected for review under section 610(c) of the Regulatory Flexibility Act, and public comment is invited on those entries. The complete Unified Agenda will be available to the public at the following website: 
                        *www.reginfo.gov.*
                         Participation by the Board, as an independent Agency, in the Unified Agenda is on a voluntary basis. The Board's agenda is divided into four sections. The first, Proposed Rule Stage, reports on matters the Board may consider for public comment during the next 6 months. The second section, Final Rule Stage, reports on matters that have been proposed and are under Board consideration. The third section, Long-Term Actions, reports on matters where the next action is undetermined, 00/00/0000, or will occur more than 12 months after publication of the Agenda. And a fourth section, Completed Actions, reports on regulatory matters the Board has completed or is not expected to consider further. A dot (•) preceding an entry indicates a new matter that was not a part of the Board's previous agenda. Yao-Chin Chao, Assistant Secretary of the Board.
 Federal Reserve System—Long-Term Actions
Sequence No.
Title
Regulation 
                                 Identifier No.471
Source of Strength (
                                **Section 610 Review**
                                )
7100-AE73472
Regulation LL—Savings and Loan Holding Companies and Regulation MM—Mutual Holding Companies (Docket No: R-1429)
7100-AD80
 Federal Reserve System—Completed Actions
Sequence No.
Title
Regulation 
                                 Identifier No.473
Regulation O—Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks (Docket No: R-1722)
7100-AF93
 FEDERAL RESERVE SYSTEM (FRS) Long-Term Actions 471. Source of Strength (Section 610 Review) *E.O. 13771 Designation:*
                         Independent agency. *Legal Authority:*12 U.S.C. 1831(o) *Abstract:*
                         The Board of Governors of the Federal Reserve System (Board), the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) plan to issue a proposed rule to implement section 616(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 616(d) requires that bank holding companies, savings and loan holding companies, and other companies that directly or indirectly control an insured depository institution serve as a source of strength for the insured depository institution. *Timetable:* Action
Date
FR CiteNext Action Undetermined
To Be Determined
 *Regulatory Flexibility Analysis Required:*
                         Undetermined. *Agency Contact:*
                         Melissa Clark, Lead Financial Institution Policy Analyst, Federal Reserve System, Division of Supervision and Regulation, Washington, DC 20551, 
                        *Phone:*
                         202 452-2277. Barbara Bouchard, Senior Associate Director, Federal Reserve System, Division of Supervision and Regulation, Washington, DC 20551, 
                        *Phone:*
                         202 452-3072. Jay Schwarz, Special Counsel, Federal Reserve System, Legal Division, Washington, DC 20551, 
                        *Phone:*
                         202 452-2970. Claudia Von Pervieux, Senior Counsel, Federal Reserve System, Legal Division, Washington, DC 20551, 
                        *Phone:*
                         202 452-2552. *RIN:*
                         7100-AE73 472. Regulation LL—Savings and Loan Holding Companies and Regulation MM—Mutual Holding Companies (Docket No: R-1429) *E.O. 13771 Designation:*
                         Independent agency. *Legal Authority:*5 U.S.C. 552; 5 U.S.C. 559; 5 U.S.C. 1813; 5 U.S.C. 1817; 5 U.S.C. 1828 *Abstract:*
                         The Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) transferred responsibility for supervision of Savings and Loan Holding Companies (SLHCs) and their non-depository subsidiaries from the Office of Thrift Supervision (OTS) to the Board of Governors of the Federal Reserve System (the Board), on July 21, 2011. The Act also transferred supervisory functions related to Federal savings associations and State savings associations to the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), respectively. The Board on August 12, 2011, approved an 
                        ( print page 17033)
                        interim final rule for SLHCs, including a request for public comment. The interim final rule transferred from the OTS to the Board the regulations necessary for the Board to supervise SLHCs, with certain technical and substantive modifications. The interim final rule has three components: (1) New Regulation LL (part 238), which sets forth regulations generally governing SLHCs; (2) new Regulation MM (part 239), which sets forth regulations governing SLHCs in mutual form; and (3) technical amendments to existing Board regulations necessary to accommodate the transfer of supervisory authority for SLHCs from the OTS to the Board. The structure of interim final Regulation LL closely follows that of the Board's Regulation Y, which governs bank holding companies, in order to provide an overall structure to rules that were previously found in disparate locations. In many instances, interim final Regulation LL incorporated OTS regulations with only technical modifications to account for the shift in supervisory responsibility from the OTS to the Board. Interim final Regulation LL also reflects statutory changes made by the Dodd-Frank Act with respect to SLHCs, and incorporates Board precedent and practices with respect to applications processing procedures and control issues, among other matters. Interim final Regulation MM organized existing OTS regulations governing SLHCs in mutual form (MHCs) and their subsidiary holding companies into a single part of the Board's regulations. In many instances, interim final Regulation MM incorporated OTS regulations with only technical modifications to account for the shift in supervisory responsibility from the OTS to the Board. Interim final Regulation MM also reflects statutory changes made by the Dodd-Frank Act with respect to MHCs. The interim final rule also made technical amendments to Board rules to facilitate supervision of SLHCs, including to rules implementing Community Reinvestment Act requirements and to Board procedural and administrative rules. In addition, the Board made technical amendments to implement section 312(b)(2)(A) of the Act, which transfers to the Board all rulemaking authority under section 11 of the Home Owner's Loan Act relating to transactions with affiliates and extensions of credit to executive officers, directors, and principal shareholders. These amendments include revisions to parts 215 (Insider Transactions) and part 223 (Transactions with Affiliates) of Board regulations. *Timetable:* Action
Date
FR CiteBoard Requested Comment
09/13/11
76 FR 56508Board Expects Further Action
12/00/21
 *Regulatory Flexibility Analysis Required:*
                         Yes. *Agency Contact:*
                         Keisha Patrick, Special Counsel, Federal Reserve System, Legal Division, Washington, DC 20551, 
                        *Phone:*
                         202 452-3559. *RIN:*
                         7100-AD80 FEDERAL RESERVE SYSTEM (FRS) Completed Actions 473. • Regulation O—Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks (Docket No: R-1722) *E.O. 13771 Designation:*
                         Independent agency. *Legal Authority:*12 U.S.C. 375 *Abstract:*
                         On April 17, 2020, the Board of Governors of the Federal Reserve System issued an interim final rule to except certain loans made by June 30, 2020, that are guaranteed under the Small Business Administration's Paycheck Protection Program from the requirements of section 22(h) of the Federal Reserve Act and the corresponding provisions of the Board's Regulation O. The Board is issuing this interim final rule to expand the exception to apply to PPP loans made through August 8, 2020. *Timetable:* Action
Date
FR CiteInterim Final Rule Effective
07/16/20Board Adopted Interim Final Rule
07/16/20
85 FR 39464
 *Regulatory Flexibility Analysis Required:*
                         Yes. *Agency Contact:*
                         Laurie Schaffer, Deputy General Counsel, Federal Reserve System, Legal Division, Washington, DC 20551, 
                        *Phone:*
                         202 452-2272. Alison Thro, Deputy Associate General Counsel, Federal Reserve System, Legal Division, Washington, DC 20551, 
                        *Phone:*
                         202 452-3236, 
                        *Email: alison.thro@frb.gov*. Benjamin McDonough, Assistant General Counsel, Federal Reserve System, Legal Division, Washington, DC 20551, 
                        *Phone:*
                         202 452-2036. Daniel Hickman, Counsel, Federal Reserve System, Legal Division, Washington, DC 20552, 
                        *Phone:*
                         202 973-7432. Joshua Strazanac, Senior Attorney, Federal Reserve System, Legal Division, Washington, DC 20551, 
                        *Phone:*
                         202 452-2457. Anna Lee Hewko, Associate Director, Federal Reserve System, Division of Supervision and Regulation, Washington, DC 20551, 
                        *Phone:*
                         202 530-6260. Constance Horsley, Deputy Associate Director, Federal Reserve System, Division of Supervision and Regulation, Washington, DC 20551, 
                        *Phone:*
                         202 452-5239. Juan Climent, Assistant Director, Federal Reserve System, Division of Supervision and Regulation, Washington, DC 20551, 
                        *Phone:*
                         202 872-7526. Kathryn Ballintine, Manager, Federal Reserve System, Division of Supervision and Regulation, Washington, DC 20551, 
                        *Phone:*
                         202 452-2555. *RIN:*
                         7100-AF93


[FR Doc. 2021-04325 Filed 3-30-21; 8:45 am] BILLING CODE 6210-01-P