Monday, 

December 20, 2010 

Part XX 

Federal Deposit 

Insurance 

Corporation 

Semiannual Regulatory Agenda 


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79922 Federal Register / Vol. 75, No. 243 / Monday, December 20, 2010 / Unified Agenda 

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

12 CFR Ch. III 

AGENCY: Federal Deposit Insurance 

Corporation. 

ACTION: Semiannual regulatory agenda. 

SUMMARY: The Federal Deposit 

Insurance Corporation (FDIC) is hereby 

publishing items for the Fall 2010 

Unified Agenda of Federal Regulatory 

and Deregulatory Actions. The agenda 

contains information about FDIC’s 

current and projected rulemakings, 

existing regulations under review, and 

completed rulemakings. 

FOR FURTHER INFORMATION CONTACT: 

Persons identified under regulations 

listed in the Agenda. Unless otherwise 

noted, the address for all FDIC staff 

identified in the agenda is Federal 

Deposit Insurance Corporation, 550 17th 

Street NW., Washington, DC 20429. 

SUPPLEMENTARY INFORMATION: Twice 

each year, the FDIC publishes an agenda 

of regulations to inform the public of its 

regulatory actions and to enhance 

public participation in the rulemaking 

process. Publication of the agenda is in 

accordance with the Regulatory 

Flexibility Act (5 U.S.C. 601 et seq.). 

The FDIC amends its regulations under 

the general rulemaking authority 

prescribed in section 9 of the Federal 

Deposit Insurance Act (12 U.S.C. 1819) 

and under specific authority granted by 

the Act and other statutes. 

Risk-Based Capital Standards: Market 

Risk: The OCC, Board and the FDIC 

proposed revisions to the market risk 

capital rule to enhance its risk 

sensitivity and introduce requirements 

for public disclosure of certain 

qualitative and quantitative information 

about the market risk of a bank or bank 

holding company. The Office of Thrift 

Supervision (OTS) currently does not 

apply a market risk capital rule to 

savings associations and is proposing in 

this notice a market risk capital rule for 

savings associations. The proposed rules 

for each agency are substantively 

identical. 

Deposit Insurance Regulations; 

Revocable Trust Accounts: The FDIC 

adopted this rule to simplify and 

modernize its deposit insurance rules 

for revocable trust accounts. The FDIC’s 

main goal in implementing these 

revisions is to make the rules easier to 

understand and apply, without 

decreasing coverage currently available 

for revocable trust account owners. The 

FDIC believes that the rule will result in 

faster deposit insurance determinations 

after depository institution closings and 

will help improve public confidence in 

the banking system. The rule eliminates 

the concept of qualifying beneficiaries. 

Also, for account owners with revocable 

trust accounts totaling no more than 

$500,000, coverage will be determined 

without regard to the beneficial interest 

of each beneficiary in the trust. 

Under the new rule, a trust account 

owner with up to five different 

beneficiaries named in all his or her 

revocable trust accounts at one FDICinsured institution will be insured up to 

$100,000 per beneficiary. Revocable 

trust account owners with more than 

$500,000 and more than five different 

beneficiaries named in the trust(s) will 

be insured for the greater of either: 

$500,000 or the aggregate amount of all 

the beneficiaries’ interests in the 

trust(s), limited to $100,000 per 

beneficiary. 

Guidelines for Furnishers of 

Information to Consumer Reporting 

Agencies: The OCC, Board, FDIC, OTS, 

NCUA, and FTC (collectively, the 

Agencies) request comment to gather 

information that would assist the 

Agencies in considering the 

development of a possible proposed 

addition to the furnisher accuracy and 

integrity guidelines which, along with 

the accompanying regulations, 

implement the accuracy and integrity 

provisions in section 312 of the Fair and 

Accurate Credit Transactions Act of 

2003 (FACT Act) that amended section 

623 of the Fair Credit Reporting Act 

(FCRA). This advance notice of 

proposed rulemaking (ANPRM) seeks to 

obtain information that would assist the 

Agencies in determining whether it 

would be appropriate to propose an 

addition to one of the guidelines that 

would delineate the circumstances 

under which a furnisher would be 

expected to provide an account opening 

date to a consumer reporting agency to 

promote the integrity of the information. 

In addition, the Agencies request 

comment more broadly on whether 

furnishers should be expected to 

provide any other types of information 

to a consumer reporting agency in order 

to promote integrity. 

Community Reinvestment Act 

Regulations: The OCC, the Board, the 

FDIC, and the OTS (collectively, the 

Agencies) issued this notice of proposed 

rulemaking that would revise our rules 

implementing the Community 

Reinvestment Act (CRA). The proposed 

rule would incorporate into our rules 

recently adopted statutory language that 

requires the Agencies, when assessing 

an institution’s record of meeting 

community credit needs, to consider, as 

a factor, low-cost education loans 

provided by the financial institution to 

low-income borrowers. The proposal 

also would incorporate into our rules 

statutory language that allows the 

Agencies, when assessing an 

institution’s record, to consider as a 

factor capital investment, loan 

participation, and other ventures 

undertaken by non minority-owned and 

nonwomen-owned financial institutions 

in cooperation with minority- and 

women-owned financial institutions 

and low-income credit unions. 

Defining Safe Harbor Protection for 

Treatment by the FDIC as Conservator 

or Receiver of Financial Assets 

Transferred by an Insured Depository 

Institution: The Federal Deposit 

Insurance Corporation (FDIC) is 

amending its regulation codified at 12 

CFR section 360.6, Defining Safe Harbor 

Protection for Treatment By The Federal 

Deposit Insurance Corporation As 

Conservator Or Receiver Of Financial 

Assets Transferred In Connection With 

A Securitization Or Participation. The 

amendment adds a new subparagraph 

(b)(2) in order to continue for a limited 

time the safe harbor provision of section 

360.6(b) for participations or 

securitizations that would be affected by 

recent changes to generally accepted 

accounting principles. In effect, the Rule 

‘‘grandfathers’’ all participations and 

securitizations for which financial 

assets were transferred or, for revolving 

securitization trusts, for which 

securities were issued prior to March 

31, 2010 so long as those participations 

or securitizations complied with the 

preexisting section 360.6 under 

generally accepted accounting 

principles in effect prior to November 

15, 2009. The transitional safe harbor 

will apply irrespective of whether or not 

the participation or securitization 

satisfies all of the conditions for sale 

accounting treatment under generally 

accepted accounting principles as 


jlentini on DSKJ8SOYB1PROD with PROPOSALS23
Federal Register / Vol. 75, No. 243 / Monday, December 20, 2010 / Unified Agenda 79923 

FDIC 

effective for reporting periods after 

November 15, 2009. 

Incorporating Executive 

Compensation Criteria Into the Risk 

Assessment System: The FDIC is seeking 

comment on ways that the FDIC’s riskbased deposit insurance assessment 

system (risk-based assessment system) 

could be changed to account for the 

risks posed by certain employee 

compensation programs. Section 7 of 

the Federal Deposit Insurance Act (FDI 

Act, 12 U.S.C. 1817) sets forth the riskbased assessment authorities underlying 

the FDIC’s deposit insurance system, 

and the parameters of the FDIC’s rules 

are set forth at 12 CFR part 327. 

Assessments: The FDIC proposes to 

amend 12 CFR part 327 to revise the 

assessment system applicable to large 

institutions to better differentiate 

institutions by taking a more forwardlooking view of risk; to better take into 

account the losses that the FDIC will 

incur if an institution fails; to revise the 

initial base assessment rates for all 

insured depository institutions; and to 

make technical and other changes to the 

rules governing the risk-based 

assessment system. 

Special Reporting, Analysis and 

Contingent Resolution Plans at Certain 

Large Insured Depository Institutions: 

The FDIC is seeking comment on a 

proposed rule that would require certain 

identified insured depository 

institutions (IDIs) that are subsidiaries 

of large and complex financial parent 

companies to submit to the FDIC 

analysis, information, and contingent 

resolution plans that address and 

demonstrate the IDl’s ability to be 

separated from its parent structure, and 

to be wound down or resolved in an 

orderly fashion. The IDI’s plan would 

include a gap analysis that would 

identify impediments to the orderly 

stand-alone resolution of the IDI, and 

identify reasonable steps that are or will 

be taken to eliminate or mitigate such 

impediments. The contingent resolution 

plan, gap analysis, and mitigation efforts 

are intended to enable the FDIC to 

develop a reasonable strategy, plan or 

options for the orderly resolution of the 

institution. The proposal would apply 

only to IDls with greater than $10 

billion in total assets that are owned or 

controlled by parent companies with 

more than $100 billion in total assets. 

Alternatives to the Use of Credit 

Ratings in the Risk-Based Capital 

Guidelines of the Federal Banking 

Agencies: The Dodd-Frank Wall Street 

Reform and Consumer Protection Act 

(the Act), enacted on July 21, 2010, 

requires Federal agencies to review their 

regulations that (1) require an 

assessment of the credit-worthiness of a 

security or money market instrument 

and (2) contain references to or 

requirements regarding credit ratings. In 

addition, the agencies are required to 

remove such requirements that refer to 

or rely upon credit ratings, and to 

substitute in their place uniform 

standards of credit-worthiness. The 

Advanced Notice of Proposed 

Rulemaking seeks comment on 

alternative standards of creditworthiness that may be used for riskbased capital requirements. 

Federal Deposit Insurance 

Corporation. 

Valerie J. Best, 

Assistant Executive Secretary. 

Federal Deposit Insurance Corporation—Long-Term Actions 

Sequence 

Number Title 

Regulation 

Identifier 

Number 

603 12 CFR 325 Alternatives to the Use of Credit Ratings in the Risk-Based Capital Guidelines of the Federal Banking Agencies ................................................................................................................................................................ 3064–AD62 

Federal Deposit Insurance Corporation (FDIC) Long-Term Actions 

603. ∑ ALTERNATIVES TO THE USE 

OF CREDIT RATINGS IN THE 

RISK–BASED CAPITAL GUIDELINES 

OF THE FEDERAL BANKING 

AGENCIES 

Legal Authority: Dodd–Frank Wall 

Street Reform and Consumer Protection 

Act 

Abstract: The Dodd-Frank Wall Street 

Reform and Consumer Protection Act 

(the Act), enacted on July 21, 2010, 

requires Federal agencies to review 

their regulations that (1) require an 

assessment of the credit-worthiness of 

a security or money market instrument 

and (2) contain references to or 

requirements regarding credit ratings. 

In addition, the agencies are required 

to remove such requirements that refer 

to or rely upon credit ratings, and to 

substitute in their place uniform 

standards of credit-worthiness. The 

ANPRM seeks comment on alternative 

standards of credit-worthiness that may 

be used for risk-based capital 

requirements. 

Timetable: 

Action Date FR Cite 

ANPRM 08/25/10 75 FR 52283 

ANPRM Comment 

Period End 

10/25/10 

Next Action Undetermined 

Regulatory Flexibility Analysis 

Required: Yes 

Agency Contact: Michael Phillips, 

Counsel, Legal Division, Federal 

Deposit Insurance Corporation, 

Washington, DC 20429 

Phone: 202 898–3581 

RIN: 3064–AD62 

[FR Doc. 2010–30465 Filed 12–17–10; 8:45 

am] 

BILLING CODE 6705–01–S 


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