66952 Federal Register / Vol. 60, No. 248 / Wednesday, December 27, 1995 / Proposed Rules

1 53 FR 47723

2Statement of Policy on Development and Review

of FDIC Rules and Regulations, 44 FR 7288 (May

30, 1979).

FOR FURTHER INFORMATION CONTACT:

Jamey Basham, Counsel, (202) 898–

7265, Legal Division, FDIC, 550 17th

Street, N.W., Washington, D.C. 20429.

SUPPLEMENTARY INFORMATION:

The Proposed Rule

On November 25, 1988, the FDIC

published a proposed rule dealing with

the definition of the term ‘‘deposit.’’ 1 In

that rulemaking, the FDIC proposed that

an insured depository institution’s

liability on a promissory note, bond,

acknowledgement of advance, or similar

obligation that is issued or undertaken

by the institution as a means of

obtaining funds would be a deposit

liability. The proposed rule would have

allowed a number of enumerated

exceptions to the general provision.

The proposal was issued because the

FDIC had become aware over a period

of years that institutions were issuing

obligations generically known as

‘‘deposit notes,’’ which typically were

general credit obligations of the

institution; were represented to

customers as deposits; were designated

as deposits on the issuer’s report of

condition; and for which deposit

insurance assessments were paid. In

addition, institutions were issuing

instruments generally known as ‘‘bank

notes,’’ which were also general

obligations of the institution but were

not otherwise treated as deposits by the

institution and may or may not have

contained representations to the

customer about the instruments’ deposit

status. Although the FDIC believes that

many of these transactions fall within

section 3(l)(1) of the Federal Deposit

Insurance Act (Act), 12 U.S.C.

1813(l)(1), defining what constitutes a

‘‘deposit,’’ the FDIC proposed to use its

authority under section 3(l)(5) of the

Act, 12 U.S.C. 1813(l)(5), to determine

that certain liabilities are deposits by

general usage.

The Policy Statement

An FDIC Statement of Policy 2

provides that any regulation upon

which final action by the Board of

Directors has not been taken within nine

months from the date the regulation was

last proposed will be formally

withdrawn. If any proposed regulation

is so withdrawn, the Board of Directors

reserves the right to begin the

rulemaking process anew (i.e., republish

in the Federal Register, resolicit public

comments, etc.). The FDIC believes that

withdrawal of the proposed rule is

appropriate because no action has been

taken with respect to the proposal for

over nine months.

In consideration of the foregoing, the

FDIC hereby withdraws proposed new

part 354 of title 12 of the Code of

Federal Regulations.

By Order of the Board of Directors.

Dated at Washington, D.C., this 19th day of

December, 1995.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Deputy Executive Secretary.

[FR Doc. 95–31261 Filed 12–26–95; 8:45 am]

BILLING CODE 6174–01–P

NATIONAL CREDIT UNION

ADMINISTRATION

15 CFR Part 701

Supervisory Committee Audits and

Verifications

AGENCY: National Credit Union

Administration (NCUA).

ACTION: Proposed rule; extension of

comment period.

SUMMARY: On November 2, 1995 (60 FR

55663), the National Credit Union

Administration (NCUA) published for

public comment a proposed rule

regarding credit union supervisory

committee audits and verifications. The

comment period for this proposed rule

was to have expired on January 2, 1996.

A national trade association has

requested an additional two weeks to

respond. In view of this request, the

NCUA Board has decided to extend the

comment period on the proposed rule

for an additional sixteen days. The

extended comment period now expires

January 18, 1996.

DATES: The comment period has been

extended and now expires January 18,

1996. Comments must be received on or

before January 18, 1996.

ADDRESSES: Comments should be

directed to Becky Baker, Secretary of the

Board. Mail or hand-deliver comments

to: National Credit Union

Administration Board, 1775 Duke

Street, Alexandria, VA 22314–3428. Fax

comments to (703) 518–6319. Post

comments on NCUA’s electronic

bulletin board by dialing (703) 518–

6480. Please send comments by one

method only.

FOR FURTHER INFORMATION CONTACT:

Karen Kelbly, Accounting Officer, Office

of Examination and Insurance (703)

518–6360, or Michael McKenna,

Attorney, Office of General Counsel

(703) 518–6540, at the above address.

By the National Credit Union

Administration Board on December 19, 1995.

Becky Baker,

Secretary of the Board.

[FR Doc. 95–31315 Filed 12–26–95; 8:45 am]

BILLING CODE 7535–01–M

DEPARTMENT OF THE TREASURY

Customs Service

19 CFR Part 134

RIN 1515–AB82

Country of Origin Marking

AGENCY: U. S. Customs Service,

Department of the Treasury.

ACTION: Proposed rule; extension of

comment period.

SUMMARY: On November 16, 1995,

Customs published in the Federal

Register a document which proposed to

amend the Customs Regulations to ease

the requirement that whenever words

appear on an imported article indicating

the name of a geographic location other

than the true country of origin of the

article, the country of origin marking

always must appear in close proximity

to those words. Comments were to be

received on or before January 16, 1996.

This document extends for an

additional 30 days the period of time

within which interested members of the

public may submit comments on the

proposed amendments.

DATES: Comments must be received on

or before February 15, 1996.

ADDRESSES: Written comments

(preferably in triplicate) may be

addressed to the Regulations Branch, U.

S. Customs Service, Franklin Court,

1301 Constitution Avenue, NW.,

Washington, DC 20229. Comments

submitted may be inspected at the

Regulations Branch, Office of

Regulations and Rulings, Franklin

Court, 1099 14th Street, NW., Suite

4000, Washington, DC.

FOR FURTHER INFORMATION CONTACT:

Anthony Tonucci, Office of Regulations

and Rulings, 202–482–6980.

SUPPLEMENTARY INFORMATION:

Background

On November 16, 1995, Customs

published in the Federal Register (60

FR 57559) a notice of proposed

rulemaking which set forth proposed

amendments to part 134 of the Customs

Regulations (19 CFR Part 134) regarding

country of origin marking. The

document proposed to ease the

requirement that whenever words

appear on an imported article indicating