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[Federal Register Volume 89, Number 224 (Wednesday, November 20, 2024)]
[Proposed Rules]
[Page 91586]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-27097]

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Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

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Federal Register / Vol. 89, No. 224 / Wednesday, November 20, 2024 / 
Proposed Rules

[[Page 91586]]

FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 375

RIN 3064-AG07

Recordkeeping for Custodial Accounts; Extension of Comment Period

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of proposed rulemaking; extension of comment period.

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SUMMARY: On October 2, 2024, the FDIC published in the Federal Register 
a proposed rule that would strengthen FDIC-insured depository 
institutions' (IDI) recordkeeping for custodial deposit accounts with 
transactional features and preserve beneficial owners' and depositors' 
entitlement to the protections afforded by Federal deposit insurance. 
The proposed rule provided for a 60-day comment period, which closes on 
December 2, 2024. The FDIC has determined that an extension of the 
comment period until January 16, 2025, is appropriate. This action will 
allow interested parties additional time to analyze the proposal and 
prepare comments.

DATES: The comment period for the proposed rule that published at 89 FR 
80135 (October 2, 2024) is extended. Comments must be received on or 
before January 16, 2025.

ADDRESSES: You may submit comments on this document using any of the 
following methods:
     Agency Website: https://www.fdic.gov/resources/regulations/federal-register-publications/. Follow the instructions for 
submitting comments on the agency website.
     Email: [email protected]. Include RIN 3064-AG07 in the 
subject line of the message.
     Mail: James P. Sheesley, Assistant Executive Secretary, 
Attention: Comments--RIN 3064-AG07, 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 550 17th Street NW Building (located on F 
Street) on business days between 7 a.m. and 5 p.m.
     Public Inspection: Comments received, including any 
personal information provided, may be posted without change to https://www.fdic.gov/resources/regulations/federal-register-publications/. 
Commenters should submit only information that the commenter wishes to 
make available publicly. The FDIC may review, redact, or refrain from 
posting all or any portion of any comment that it may deem to be 
inappropriate for publication, such as irrelevant or obscene material. 
The FDIC may post only a single representative example of identical or 
substantially identical comments, and in such cases will generally 
identify the number of identical or substantially identical comments 
represented by the posted example. All comments that have been 
redacted, as well as those that have not been posted, that contain 
comments on the merits of the notice will be retained in the public 
comment file and will be considered as required under all applicable 
laws. All comments may be accessible under the Freedom of Information 
Act.

FOR FURTHER INFORMATION CONTACT: Division of Resolutions and 
Receiverships: Shivali Nangia, Assistant Director, 972-761-2945, 
[email protected]; Cathy K. Davis, Chief, Claims, 972-761-2336, 
[email protected]. Division of Depositor and Consumer Protection: Luke H. 
Brown, Associate Director, Supervisory Policy, 202-898-3842, 
[email protected]; Meron Wondwosen, Assistant Director, Supervisory 
Policy, 202-898-7211, [email protected]; Edward J. Hof, Senior 
Policy Analyst, 202-898-7213, [email protected]. Legal Division: Vivek V. 
Khare, Senior Counsel, 202-898-6847, [email protected]; James S. Watts, 
Counsel, 202-898-6678, [email protected].

SUPPLEMENTARY INFORMATION: On October 2, 2024, the FDIC published in 
the Federal Register (89 FR 80135) a document proposing requirements to 
strengthen IDI recordkeeping for custodial deposit accounts with 
transactional features. The proposed rule stated that the comment 
period would close on December 2, 2024. The FDIC has received requests 
to extend the comment period. After reviewing the requests, the agency 
finds it appropriate to grant the requests and extend the comment 
period by an additional 45 days. An extension of the comment period 
will provide additional opportunity for the public to prepare comments 
to address the matters raised by the proposed rule. Therefore, the FDIC 
is extending the comment period for the recordkeeping-related proposed 
rule from December 2, 2024, to January 16, 2025.

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on November 15, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-27097 Filed 11-19-24; 8:45 am]
BILLING CODE 6714-01-P
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