Federal Register / Vol. 74, No. 111 / Thursday, June 11, 2009 / Rules and Regulations 27683 

Accounting Office so that the final rule 

may be reviewed. 

Impact on Families 

The FDIC has determined that the 

final rule will not affect family wellbeing within the meaning of section 654 

of the Treasury and General 

Government Appropriations Act, 

enacted as part of the Omnibus 

Consolidated and Emergency 

Supplemental Appropriations Act of 

1999 (Pub. L. 105–277, 112 Stat. 2681). 

Plain Language 

Section 722 of the Gramm-LeachBliley Act, Public Law 106–102, 113 

Stat. 1338, 1471 (Nov. 12, 1999), 

requires the Federal banking agencies to 

use plain language in all proposed and 

final rules published after January 1, 

2000. The FDIC requested comments on 

this issue but received none. 

List of Subjects in 12 CFR Part 337 

Banks, Banking, Reporting and 

recordkeeping requirements, Savings 

associations, Securities. 

■ For the reasons stated above, the 

Board of Directors of the Federal 

Deposit Insurance Corporation amends 

part 337 of title 12 of the Code of 

Federal Regulations as follows: 

PART 337—UNSAFE AND UNSOUND 

BANKING PRACTICES 

■ 1. The authority citation for part 337 

is revised to read as follows: 

Authority: 12 U.S.C. 375a(4), 375b, 1816, 

1818(a), 1818(b), 1819, 1820(d)(10), 1821(f), 

1828(j)(2), 1831, 1831f. 

■ 2. In § 337.6: 

■ a. Paragraph (b)(2)(ii)(B) is revised to 

read as set forth below. 

■ b. Paragraph (b)(4) is removed. 

■ c. Paragraph (e) is added to read as set 

forth below. 

§ 337.6 Brokered deposits. 

* * * * * 

(b) * * * 

(2) * * * 

(ii) * * * 

(B) The national rate paid on deposits 

of comparable size and maturity for 

deposits accepted outside the 

institution’s normal market area. For 

purposes of this paragraph (b)(2)(ii)(B), 

the national rate shall be a simple 

average of rates paid by all insured 

depository institutions and branches for 

which data are available. This rate shall 

be determined by the FDIC. 

* * * * * 

(e) A market is any readily defined 

geographical area in which the rates 

offered by any one insured depository 

institution soliciting deposits in that 

area may affect the rates offered by other 

insured depository institutions 

operating in the same area. The effective 

yield on a deposit with an odd maturity 

shall be determined by interpolating 

between the yields offered by other 

insured depository institutions on 

deposits of the next longer and shorter 

maturities offered in the market. For 

purposes of this § 337.6, a presumption 

shall exist that the prevailing rate or 

effective yield in the relevant market is 

the national rate as defined in paragraph 

(b)(2)(ii)(B) of this section unless the 

FDIC determines, in its sole discretion 

based on available evidence, that the 

effective yield in that market differs 

from the national rate. Evidence of the 

effective yield in a particular market 

may include (but is not limited to) the 

following: 

(1) Evidence as to the rates paid by 

other insured depository institutions in 

the same State, county or metropolitan 

statistical area (though the FDIC shall 

not be obligated to recognize each State, 

county or metropolitan statistical area as 

a separate market area); 

(2) Evidence as to the rates paid by 

credit unions in the same market area if 

the FDIC determines that the insured 

depository institution competes directly 

with these credit unions; and 

(3) Evidence as to the different rates 

paid on different deposit products in the 

same market area (though the FDIC shall 

not be obligated to recognize all alleged 

distinctions among various deposit 

products). (Example: For a particular 

market, evidence exists that the rates on 

money market deposit accounts 

(MMDAs) differ from the rates on 

negotiable order of withdrawal (NOW) 

accounts. MMDAs are distinguishable 

from NOW accounts in that the two 

types of accounts are subject to different 

legal requirements. Under these 

circumstances, for this market, the FDIC 

could recognize that the prevailing rate 

on MMDAs is different than the 

prevailing rate on NOW accounts.) 

Dated at Washington, DC, this 29th day of 

May 2009. 

Authorized to be published in the Federal 

Register by Order of the Board of Directors 

of the Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

[FR Doc. E9–13748 Filed 6–10–09; 8:45 am] 

BILLING CODE 6714–01–P 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

12 CFR Part 337 

Technical Amendments to Interest 

Rate Restrictions on Insured 

Depository Institutions That Are Not 

Well Capitalized; Withdrawal 

AGENCY: Federal Deposit Insurance 

Corporation (FDIC). 

ACTION: Final rule; withdrawal. 

SUMMARY: The Federal Deposit 

Insurance Corporation published in the 

Federal Register of June 3, 2009 (74 FR 

26516), a final rule concerning Interest 

Rate Restrictions on Insured Depository 

Institutions That Are Not Well 

Capitalized. Inadvertently a draft 

version of the document was published 

instead of the version adopted by the 

FDIC Board of Directors. The Federal 

Deposit Insurance Corporation 

withdraws the rule published at 74 FR 

26516. The correct version of the final 

rule is published elsewhere in this 

Federal Register. 

DATES: Effective on June 11, 2009, the 

final rule amending 12 CFR part 337 

published June 3, 2009 (74 FR 26516) is 

withdrawn. 

FOR FURTHER INFORMATION CONTACT: 

Christopher L. Hencke, 202–898–8839; 

E-mail: Chencke@fdic.gov. 

SUPPLEMENTARY INFORMATION: The 

Federal Deposit Insurance Corporation 

published in the Federal Register of 

June 3, 2009, a final rule concerning 

Interest Rate Restrictions on Insured 

Depository Institutions That Are Not 

Well Capitalized. Inadvertently a draft 

version of the document was published 

instead of the version adopted by the 

FDIC Board of Directors. This document 

is withdrawn and the correct version is 

published elsewhere in this Federal 

Register. Although the differences in the 

two versions are not extensive, the 

correct final rule is being published in 

its entirety to ensure clarity. 

Dated: June 5, 2009. 

Robert E. Feldman, 

Executive Secretary. 

[FR Doc. E9–13749 Filed 6–10–09; 8:45 am] 

BILLING CODE 6714–01–P 


cprice-sewell on PRODPC61 with RULES