Proposed Rules. Notice of proposed rulemaking and issuance of guidelines; extension of comment period

Agency: Federal Deposit Insurance Corporation
Action: Notice of proposed rulemaking and issuance of guidelines; extension of comment period
Citation: FR Doc. 2023-26510 · RIN 3064-AF94 · 12 CFR 364

Summary

On October 11, 2023, the Federal Deposit Insurance Corporation (FDIC) published in the Federal Register a proposal to issue Guidelines to FDIC's standards for safety and soundness regulations and make conforming amendments to its regulations. These Guidelines would apply to all insured state nonmember banks, state-licensed insured branches of foreign banks, and insured state savings associations that are subject to Section 39 of the Federal Deposit Insurance Act (FDI Act), with total consolidated assets of $10 billion or more on or after the effective date of the final Guidelines. The FDIC has determined that an extension of the comment period until February 9, 2024, is appropriate.

Dates

Comments must be received by February 9, 2024.

Supplementary Information

On October 11, 2023, the FDIC published in the Federal Register a proposal to issue Guidelines as Appendix C to FDIC's standards for safety and soundness regulations in part 364 and make conforming amendments to parts 308 and 364 of its regulations. 1 These Guidelines would apply to all insured state nonmember banks, state-licensed insured branches of foreign banks, and insured state savings associations that are subject to section 39 of the FDI Act with total consolidated assets of $10 billion or more on or after the effective date of the final Guidelines. The Guidelines are intended to set the FDIC's expectations for covered institutions regarding corporate governance, risk management, and oversight by the board of directors. The notice of proposed rulemaking stated that the comment period would close on December 11, 2023. The FDIC has received requests to extend the comment period. An extension of the comment period will provide additional opportunity for the public to consider the proposal and prepare comments, including to address the questions posed by the FDIC. Therefore, the FDIC is extending the end of the comment period for the proposal from December 11, 2023, to February 9, 2024. 1 88 FR 70391 (Oct. 11, 2023). Federal Deposit Insurance Corporation. Dated at Washington, DC, on November 28, 2023. James P. Sheesley, Assistant Executive Secretary. [FR Doc. 2023-26510 Filed 12-1-23; 8:45 am]