Federal Register / Vol. 88, No. 245 / Friday, December 22, 2023 / Notices 88613 

cooperative agreement, or other activity 

related to this system of records and 

who need to have access to the records 

to perform their activity. 

POLICIES AND PRACTICES FOR STORAGE OF

RECORDS: 

This an electronic system of records 

that resides on the FCC’s network, 

USAC’s network, and FCC contractors’ 

and vendors’ networks. 

POLICIES AND PRACTICES FOR RETRIEVAL OF

RECORDS: 

Records in this system of records can 

be retrieved by any category field, e.g., 

first name or email address. 

POLICIES AND PRACTICES FOR RETENTION AND

DISPOSAL OF RECORDS: 

The information in this system is 

maintained and disposed of in 

accordance with the National Archives 

and Records Administration (NARA) 

General Records Schedule GRS 3.2, 

Information Systems Security Records 

(DAA–GRS–2013–0006). 

ADMINISTRATIVE, TECHNICAL, AND PHYSICAL

SAFEGUARDS: 

The electronic records, files, and data 

are stored within FCC, USAC, other 

program administrator, contractor, and 

vendor accreditation boundaries and 

maintained in databases housed on their 

network databases. Access to the 

electronic files is restricted to 

authorized employees, staff and 

contractors; and to IT staff, contractors, 

and vendors who maintain the IT 

networks and services. Other employees 

and contractors may be granted access 

on a need-to-know basis. The electronic 

files and records are protected by the 

FCC, USAC, and third-party privacy 

safeguards, a comprehensive and 

dynamic set of IT safety and security 

protocols and features that are designed 

to meet all Federal privacy standards, 

including those required by the Federal 

Information Security Modernization Act 

of 2014 (FISMA), the Office of 

Management and Budget (OMB), and 

the National Institute of Standards and 

Technology (NIST). 

RECORD ACCESS PROCEDURES: 

Individuals wishing to request access 

to and/or amendment of records about 

themselves should follow the 

Notification Procedure below. 

CONTESTING RECORD PROCEDURES: 

Individuals wishing to request access 

to and/or amendment of records about 

themselves should follow the 

Notification Procedure below. 

NOTIFICATION PROCEDURES: 

Individuals wishing to determine 

whether this system of records contains 

information about themselves may do so 

by writing to privacy@fcc.gov. 

Individuals requesting access must also 

comply with the FCC’s Privacy Act 

regulations regarding verification of 

identity to gain access to records as 

required under 47 CFR part 0, subpart 

E. 

EXEMPTIONS PROMULGATED FOR THE SYSTEM: 

None. 

HISTORY: 

None. 

Federal Communications Commission. 

Marlene Dortch, 

Secretary. 

[FR Doc. 2023–27896 Filed 12–19–23; 4:15 pm] 

BILLING CODE 6712–01–P 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

Agency Information Collection 

Activities: Proposed Collection 

Renewal; Comment Request; OMB No. 

3064–0083; –0182; –0198 

AGENCY: Federal Deposit Insurance 

Corporation (FDIC). 

ACTION: Notice and request for comment. 

SUMMARY: The FDIC, as part of its 

obligations under the Paperwork 

Reduction Act of 1995, invites the 

general public and other Federal 

agencies to take this opportunity to 

comment on the request to renew the 

existing information collections 

described below (OMB Control No. 

3064–0083; –0182; –0198). The notices 

of the proposed renewal for these 

information collections were previously 

published in the Federal Register on 

October 19, 2023, allowing for a 60-day 

comment period. 

DATES: Comments must be submitted on 

or before January 22, 2024. 

ADDRESSES: Interested parties are 

invited to submit written comments to 

the FDIC by any of the following 

methods: 

• Agency Website: https://

www.fdic.gov/resources/regulations/ 

federal-register-publications/. 

• Email: comments@fdic.gov. Include 

the name and number of the collection 

in the subject line of the message. 

• Mail: Manny Cabeza (202–898– 

3767), Regulatory Counsel, MB–3128, 

Federal Deposit Insurance Corporation, 

550 17th Street NW, Washington, DC 

20429. 

• Hand Delivery: Comments may be 

hand-delivered to the guard station at 

the rear of the 17th Street NW building 

(located on F Street NW), on business 

days between 7 a.m. and 5 p.m. 

Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

FOR FURTHER INFORMATION CONTACT: 

Manny Cabeza, Regulatory Counsel, 

202–898–3767, mcabeza@fdic.gov, MB– 

3128, Federal Deposit Insurance 

Corporation, 550 17th Street NW, 

Washington, DC 20429. 

SUPPLEMENTARY INFORMATION: 

Proposal to renew the following 

currently approved collection of 

information: 

1. Title: Recordkeeping and 

Disclosure Requirements in Connection 

with Regulation M (Consumer Leasing). 

OMB Number: 3064–0083. 

Affected Public: State nonmember 

banks and state savings associations 

engaging in consumer leasing. 

Burden Estimate: 

SUMMARY OF ESTIMATED ANNUAL BURDEN

[OMB No. 3064–0083] 

Information collection 

(obligation to respond) 

Type of burden 

(frequency of response) 

Number of 

respondents 

Number of 

responses per 

respondent 

Time per 

response 

(HH:MM) 

Annual 

burden 

(hours) 

Recordkeeping Requirements in Connection with Regulation M 

(Consumer Leasing), 12 CFR 1013.8.

Recordkeeping (On occasion) .... 17 100 00:22.5 638 

Third-Party Disclosure Requirements in Connection with Regulation M (Consumer Leasing), 12 CFR 1013.3.Third-Party Disclosure (On occasion).17 100 00:22.5 638 


ddrumheller on DSK120RN23PROD with NOTICES1
88614 Federal Register / Vol. 88, No. 245 / Friday, December 22, 2023 / Notices 

1See footnote 7. 

2 12 CFR 349.21(b)(2) requires FDIC-supervised 

institutions that are engaged in, or that offer to 

engage in, retail foreign exchange transactions to 

establish written policies and procedures that 

include: Haircuts for noncash margin collected 

pursuant to 12 CFR 349.21 (12 CFR 349.21(b)(2)(i)), 

and annual evaluation and, if appropriate, 

modification of the haircuts (12 CFR 

349.21(b)(2)(ii)). 

3 12 CFR 349.25(a)(1) requires FDIC-supervised 

institutions that are engaged in retail foreign 

exchange transactions to establish and implement 

internal policies, procedures, and controls designed 

to ensure that orders placed for retail foreign 

exchange transactions by retail foreign exchange 

customers are given priority over orders placed for 

retail foreign exchange transactions for a 

proprietary account of the FDIC-supervised 

SUMMARY OF ESTIMATED ANNUAL BURDEN—Continued 

[OMB No. 3064–0083] 

Information collection 

(obligation to respond) 

Type of burden 

(frequency of response) 

Number of 

respondents 

Number of 

responses per 

respondent 

Time per 

response 

(HH:MM) 

Annual 

burden 

(hours) 

Total Annual Burden (Hours) .................................................... ..................................................... ........................ ........................ ........................ 1,276 

Source: FDIC. 

General Description of Collection: 

Regulation M (12 CFR 1013), issued by 

the Bureau of Consumer Financial 

Protection, implements the consumer 

leasing provisions of the Truth in 

Lending Act. Regulation M requires 

lessors of personal property to provide 

consumers with meaningful disclosures 

about the costs and terms of the leases 

for personal property. Lessors are 

required to retain evidence of 

compliance with Regulation M for 

twenty-four months. There is no change 

in the methodology or substance of this 

information collection. The change in 

burden is due solely to the decrease in 

the estimated number of respondents 

from 19 in 2021 to 17. 

2. Title: Retail Foreign Exchange 

Transactions. 

OMB Number: 3064–0182. 

Forms: None. 

Affected Public: Insured state 

nonmember banks and state savings 

associations. 

Burden Estimate: 

SUMMARY OF ESTIMATED ANNUAL BURDEN

[OMB No. 3064–0182] 

Information collection 

(obligation to respond) 

Type of burden 

(frequency of response) 

Number of 

respondents 

Number of 

responses per 

respondent 

Time per 

response 

(HH:MM) 

Annual 

burden 

(hours) 

1. Recordkeeping Requirements, 12 CFR 349.19, 12 CFR 

349.21(b)(2), 12 CFR 349.25(a) (Mandatory).

Recordkeeping (Annual) ............. 1 1 1,332:00 1,332 

2. Reporting Requirements, 12 CFR 349.16 (Mandatory) .............. Reporting (Annual) ..................... 1 1 16:00 16 

3. Disclosure Requirements, 12 CFR 349.22(a), 12 CFR 

349.17(a)(4)(ii), 12 CFR 349.18, 12 CFR 349.25(c) and (d), 12 

CFR 349.27, 12 CFR 349.28(a) and (b) (Mandatory).

Third-Party Disclosure (Annual) 1 1 276:00 276 

Total Annual Burden (Hours) .................................................... ..................................................... ........................ ........................ ........................ 1,624 

Source: FDIC. 

General Description of Collection: 

This information collection implements 

section 742(c)(2) of the Dodd-Frank Act 

(7 U.S.C. 2(c)(2)(E)) and FDIC 

regulations governing retail foreign 

exchange transactions as set forth at 12 

CFR part 349, subpart B. The regulation 

allows banking organizations under 

FDIC supervision to engage in offexchange transactions in foreign 

currency with retail customers provided 

they comply with various reporting, 

recordkeeping and third-party 

disclosure requirements specified in the 

rule. If an institution elects to conduct 

such transactions, compliance with the 

information collection is mandatory. 

Reporting Requirements—part 349, 

subpart B requires that, prior to 

initiating a retail foreign exchange 

business; a banking institution must 

provide the FDIC with a notice 

certifying that the institution has 

written policies and procedures, and 

risk measurement and management 

systems and controls in place to ensure 

that retail foreign exchange transactions 

are conducted in a safe and sound 

manner. The institution must also 

provide information about how it 

intends to manage customer due 

diligence, new product approvals and 

haircuts applied to noncash margin. 

Recordkeeping Requirements—part 349 

subpart B requires that institutions 

engaging in retail foreign exchange 

transactions keep full, complete and 

systematic records of account, financial 

ledger, transaction, memorandum orders 

and post execution allocations of 

bunched orders. In addition, institutions 

are required to maintain records 

regarding their ratio of profitable 

accounts, possible violations of law, 

records of noncash margin and monthly 

statements and confirmations issued. 

Disclosure Requirements—The 

regulation requires that, before opening 

an account that will engage in retail 

foreign exchange transactions, a banking 

institution must obtain from each retail 

foreign exchange customer an 

acknowledgement of receipt and 

understanding of a written disclosure 

specified in the rule and of disclosures 

about the banking institution’s fees and 

other charges and of its profitable 

accounts ratio. The institution must also 

provide monthly statements to each 

retail foreign exchange customer and 

must send confirmation statements 

following every transaction. The 

customer dispute resolution provisions 

of the regulation require certain 

endorsements, acknowledgements and 

signature language as well as the timely 

provision of a list of persons qualified 

to handle a customer’s request for 

arbitration. 

After reviewing the requirements in 

subpart B and the similar ICRs currently 

approved by OMB for the OCC and the 

Federal Reserve, the FDIC has 

determined that subpart B imposes more 

recordkeeping requirements than those 

listed in the 2021 ICR. While the 2021 

ICR listed 12 CFR 349.19 as the only 

recordkeeping requirement in subpart 

B,1 the FDIC notes that the requirement 

in 12 CFR 349.21(b)(2) 2 also meets the 

definition of a recordkeeping 

requirement, as does the requirement in 

12 CFR 349.25(a).3 The OCC and the 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 245 / Friday, December 22, 2023 / Notices 88615 

institution (12 CFR 349.25(a)(1)(i)), or an account in 

which a related person has an interest (12 CFR 

349.25(a)(1)(ii), (iii), and (iv)). 12 CFR 349.14 

defines ‘‘related person’’ as: (1) Any general partner, 

officer, director, or owner of ten percent or more of 

the capital stock of the FDIC-supervised insured 

depository institution; (2) An associated person or 

employee of the retail foreign exchange 

counterparty, if the retail foreign exchange 

counterparty is not an FDIC-supervised insured 

depository institution; (3) An institution-affiliated 

party, as that term is defined in 12 U.S.C. 

1813(u)(1), (2), or (3), or employee of the retail 

foreign exchange counterparty, if the retail foreign 

exchange counterparty is not an FDIC-supervised 

insured depository institution, or; (4) And relative 

or spouse of any of the foregoing persons, or any 

relative of such spouse, who shares the same home 

as any of the foregoing persons. 12 CFR 349.25(a)(2) 

requires FDIC-supervised institutions that are 

engaged in retail foreign exchange transactions to 

establish and implement internal policies, 

procedures, and controls designed to prevent FDICsupervised insured depository institution related 

persons from placing orders, directly or indirectly, 

with another person in a manner designed to 

circumvent the provisions of 12 CFR 349.25(a)(1). 

12 CFR 349.25(a)(3) requires FDIC-supervised 

institutions that are engaged in retail foreign 

exchange transactions to establish and implement 

internal policies, procedures, and controls designed 

to fairly and objectively establish settlement prices 

for retail foreign exchange transactions. 

4For the Federal Reserve, these requirements 

include those in 12 CFR 240.9(b)(2) and 12 CFR 

240.13(a). For the OCC, these requirements include 

those in 12 CFR 48.13 and 12 CFR 48.9. 

5These requirements include the Federal 

Reserve’s regulations at 12 CFR 240.7 and the OCC’s 

regulations at 12 CFR 48.7. 

Federal Reserve each listed 

requirements that are analogous to those 

in 12 CFR 349.21(b)(2) and 12 CFR 

349.25(a) as recordkeeping requirements 

in their similar ICRs,4 in addition to 

recordkeeping requirements that are 

analogous to those in 12 CFR 349.19.5

The FDIC is revising its information 

collection to include this burden. 

3. Title: Generic Information 

Collection for Qualitative Research. 

OMB Number: 3064–0198. 

Affected Public: General public 

including FDIC insured depository 

institutions. 

Burden Estimate: 

SUMMARY OF ESTIMATED ANNUAL BURDEN

[OMB No. 3064–0198] 

Information collection 

(obligation to respond) 

Type of burden 

(frequency of response) 

Number of 

respondents 

Number of 

responses per 

respondent 

Time per 

response 

(HH:MM) 

Annual 

burden 

(hours) 

1. Generic Information Collection for Qualitative Research, (Voluntary).Reporting (Once) ........................ 10,000 1 01:00 10,000 

Total Annual Burden (Hours) .................................................... ..................................................... ........................ ........................ ........................ 10,000 

Source: FDIC. 

General Description of Collection: The 

FDIC is requesting renewal of this 

approved collection to use occasional 

qualitative surveys to gather information 

from the public to inform qualitative 

research. While the subject and nature 

of the surveys to be deployed under this 

information collection are yet to be 

determined, based on prior experience it 

is expected that the number or 

respondents will range from a few to, at 

times, several thousands, but, in 

general, these surveys are expected to 

involve an average of 500 respondents. 

Likewise, the time to respond to the 

surveys can range from a few minutes to 

several hours, but it is expected that the 

average time to respond to a survey is 

approximately one hour. These surveys 

are completely voluntary in nature. 

FDIC estimates that approximately 20 

such surveys will be conducted in any 

given year. Currently, the FDIC has a 

variety of methods to collect 

quantitative information from 

consumers and institutions (e.g., Call 

Reports, FDIC National Survey of 

Unbanked and Underbanked 

Households, etc.). Qualitative data 

would provide complementary 

information on insights, opinions, and 

perceptions that will inform how the 

FDIC approaches its mission to 

safeguard financial stability of the 

banking system and promote consumer 

protection and economic inclusion. This 

clearance would allow the FDIC to 

engage with consumers and other 

relevant stakeholders through 

qualitative research methods such as 

focus groups, in-depth interviews, 

cognitive testing, and/or qualitative 

virtual methods. The purpose of the 

surveys is, in general terms, to obtain 

anecdotal information about regulatory 

burden, problems or successes in the 

bank supervisory process (including 

both safety-and-soundness and 

consumer related exams), the perceived 

need for regulatory or statutory change, 

and similar concerns. The information 

in these surveys is anecdotal in nature, 

that is, samples are not necessarily 

random, the results are not necessarily 

representative of a larger class of 

potential respondents, and the goal is 

not to produce a statistically valid and 

reliable database. Rather, the surveys are 

expected to yield anecdotal information 

about the particular experiences and 

opinions of members of the public, 

primarily staff at respondent banks or 

bank customers. The collection is 

noncontroversial and does not raise 

issues of concern to other Federal 

agencies; with the exception of 

information needed to provide 

remuneration for participants of focus 

groups and cognitive laboratory studies, 

personally identifiable information (PII) 

is collected only to the extent necessary 

and is not retained. Participation in this 

information collection will be voluntary 

and conducted in-person, by phone, or 

using other methods, such as virtual 

technology. The types of collections that 

this generic clearance covers include, 

but are not limited to: Small discussion 

groups; focus groups of consumers, 

financial industry professionals, or 

other stakeholders; cognitive laboratory 

studies, such as those used to refine 

questions or assess usability of a 

website; qualitative customer 

satisfaction surveys (e.g., posttransaction surveys; opt-out web 

surveys); and in-person observation 

testing (e.g., website or software 

usability tests). 

There is no change in the substance 

or methodology of this information 

collection. 

Request for Comment 

Comments are invited on: (a) Whether 

the collection of information is 

necessary for the proper performance of 

the FDIC’s functions, including whether 

the information has practical utility; (b) 

the accuracy of the estimates of the 

burden of the information collection, 

including the validity of the 

methodology and assumptions used; (c) 

ways to enhance the quality, utility, and 

clarity of the information to be 

collected; and (d) ways to minimize the 

burden of the collection of information 

on respondents, including through the 

use of automated collection techniques 

or other forms of information 

technology. All comments will become 

a matter of public record. 


ddrumheller on DSK120RN23PROD with NOTICES1
88616 Federal Register / Vol. 88, No. 245 / Friday, December 22, 2023 / Notices 

1Although not required under section 37(c), this 

report includes descriptions of certain of the 

Board’s capital standards applicable to depository 

institution holding companies where such 

descriptions are relevant to the discussion of capital 

standards applicable to institutions. 

2See 78 FR 62018 (October 11, 2013) (final rule 

issued by the OCC and the Board); 78 FR 55,340 

(September 10, 2013) (interim final rule issued by 

the FDIC). The FDIC later issued its final rule in 79 

FR 20,754 (April 14, 2014). The agencies’ respective 

capital rule is at 12 CFR pt. 3 (OCC), 12 CFR pt. 

217 (Board), and 12 CFR pt. 324 (FDIC). The capital 

rule applies to institutions, as well as to certain 

bank holding companies (BHCs) and savings and 

loan holding companies (SLHCs). See also 12 CFR 

217.1(c). 

3The capital rule reflects the scope of each 

agency’s regulatory jurisdiction. For example, the 

Board’s capital rule includes requirements related 

to BHCs, SLHCs, and state member banks (SMBs), 

while the FDIC’s capital rule includes provisions 

for state nonmember banks and state savings 

associations, and the OCC’s capital rule includes 

provisions for national banks and federal savings 

associations. 

4See, e.g., 84 FR 35234 (July 22, 2019). The OCC 

and FDIC revised their capital rule to conform with 

language in the Board’s capital rule related to the 

qualification criteria for additional tier 1 capital 

instruments and the definition of corporate 

exposures. As a result, these differences, which 

were included in previous reports submitted by the 

agencies pursuant to section 37(c), have been 

eliminated. 

5Certain minor differences, such as terminology 

specific to each agency for the institutions that it 

supervises, are not included in this report. 

6See 12 CFR 3.2 (OCC); 12 CFR 217.2 (Board); 12 

CFR 324.2 (FDIC). 

Federal Deposit Insurance Corporation. 

Dated at Washington, DC, on December 18, 

2023. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2023–28206 Filed 12–21–23; 8:45 am] 

BILLING CODE 6714–01–P 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

FEDERAL RESERVE SYSTEM 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

Joint Report to Congressional 

Committees: Differences in 

Accounting and Capital Standards 

Among the Federal Banking Agencies 

as of September 30, 2023 

AGENCY: Office of the Comptroller of the 

Currency, Treasury; Board of Governors 

of the Federal Reserve System; and 

Federal Deposit Insurance Corporation. 

ACTION: Report to Congressional 

Committees. 

SUMMARY: The Office of the Comptroller 

of the Currency (OCC), the Board of 

Governors of the Federal Reserve 

System (Board), and the Federal Deposit 

Insurance Corporation (FDIC) 

(collectively, the agencies) have 

prepared this report pursuant to section 

37(c) of the Federal Deposit Insurance 

Act. Section 37(c) requires the agencies 

to jointly submit an annual report to the 

Committee on Financial Services of the 

U.S. House of Representatives and to the 

Committee on Banking, Housing, and 

Urban Affairs of the U.S. Senate 

describing differences among the 

accounting and capital standards used 

by the agencies for insured depository 

institutions (institutions). Section 37(c) 

requires that this report be published in 

the Federal Register. The agencies have 

not identified any material differences 

among the agencies’ accounting and 

capital standards applicable to the 

institutions they regulate and supervise. 

FOR FURTHER INFORMATION CONTACT: 

OCC: Diana Wei, Risk Expert, Capital 

Policy, (202) 649–5554, Rima Kundnani, 

Counsel, Chief Counsel’s Office, (202) 

649–5490, Office of the Comptroller of 

the Currency, 400 7th Street SW, 

Washington, DC 20219. If you are deaf, 

hard of hearing, or have a speech 

disability, please dial 7–1–1 to access 

telecommunications relay services. 

Board: Andrew Willis, Manager, (202) 

912–4323, Jennifer McClean, Senior 

Financial Institution Policy Analyst II, 

(202) 785–6033, Shooka Saket, Senior 

Financial Institution Policy Analyst II, 

(202) 475–3869, Division of Supervision 

and Regulation, Mark Buresh, Senior 

Counsel (202) 452–5270 and Jasmin 

Keskinen, Senior Attorney, (202) 475– 

6650, Legal Division, Board of 

Governors of the Federal Reserve 

System, 20th Street and Constitution 

Avenue NW, Washington, DC 20551. 

For users of Telecommunications 

Device for the Deaf (TDD) and TTY– 

TRS, please call 711 from any 

telephone, anywhere in the United 

States. 

FDIC: Benedetto Bosco, Chief, Capital 

Policy Section, (703) 245–0778, 

Christine Bouvier, Assistant Chief 

Accountant, (202) 898–7289, Richard 

Smith, Capital Policy Analyst, Capital 

Policy Section, (703) 254–0782, Division 

of Risk Management Supervision, 

Amber Beck, Senior Attorney, (202) 

898–3772, Legal Division, Federal 

Deposit Insurance Corporation, 550 17th 

Street NW, Washington, DC 20429. 

SUPPLEMENTARY INFORMATION: The text of 

the report follows: 

Report to the Committee on Financial 

Services of the U.S. House of 

Representatives and to the Committee 

on Banking, Housing, and Urban 

Affairs of the U.S. Senate Regarding 

Differences in Accounting and Capital 

Standards among the Federal Banking 

Agencies 

Introduction 

In accordance with section 37(c), the 

agencies are submitting this joint report, 

which covers differences among their 

accounting and capital standards 

existing as of September 30, 2023, 

applicable to institutions.1 In recent 

years, the agencies have acted together 

to harmonize their accounting and 

capital standards and eliminate as many 

differences as possible. As of September 

30, 2023, the agencies have not 

identified any material differences 

among the agencies’ accounting 

standards applicable to institutions. 

In 2013, the agencies revised the riskbased and leverage capital rule for 

institutions (capital rule),2 which 

harmonized the agencies’ capital rule in 

a comprehensive manner.3 Since 2013, 

the agencies have revised the capital 

rule on several occasions, further 

reducing the number of differences in 

the agencies’ capital rule.4 Today, only 

a few differences remain, which are 

statutorily mandated for certain 

categories of institutions or which 

reflect certain technical, generally 

nonmaterial differences among the 

agencies’ capital rule. No new material 

differences were identified in the capital 

standards applicable to institutions in 

this report compared to the previous 

report submitted by the agencies 

pursuant to section 37(c). 

Differences in the Standards Among the 

Federal Banking Agencies 

Differences in Accounting Standards 

As of September 30, 2023, the 

agencies have not identified any 

material differences among themselves 

in the accounting standards applicable 

to institutions. 

Differences in Capital Standards 

The following are the remaining 

technical differences among the capital 

standards of the agencies’ capital rule.5

Definitions 

The agencies’ capital rule largely 

contains the same definitions.6 The 

differences that exist generally serve to 

accommodate the different needs of the 

institutions that each agency charters, 

regulates, and/or supervises. 

The agencies’ capital rule has 

differing definitions of a pre-sold 

construction loan. The capital rule of all 

three agencies provides that a pre-sold 

construction loan means any ‘‘one-tofour family residential construction loan 

to a builder that meets the requirements 

of section 618(a)(1) or (2) of the 


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