Legal Status
This site displays a prototype of a “Web 2.0” version of the daily Federal Register. It is not an official legal edition of the Federal Register, and does not replace the official print version or the official electronic version on GPO’s govinfo.gov.
The documents posted on this site are XML renditions of published Federal Register documents. Each document posted on the site includes a link to the corresponding official PDF file on govinfo.gov. This prototype edition of the daily Federal Register on FederalRegister.gov will remain an unofficial informational resource until the Administrative Committee of the Federal Register (ACFR) issues a regulation granting it official legal status. For complete information about, and access to, our official publications and services, go to About the Federal Register on NARA's archives.gov.
The OFR/GPO partnership is committed to presenting accurate and reliable regulatory information on FederalRegister.gov with the objective of establishing the XML-based Federal Register as an ACFR-sanctioned publication in the future. While every effort has been made to ensure that the material on FederalRegister.gov is accurately displayed, consistent with the official SGML-based PDF version on govinfo.gov, those relying on it for legal research should verify their results against an official edition of the Federal Register. Until the ACFR grants it official status, the XML rendition of the daily Federal Register on FederalRegister.gov does not provide legal notice to the public or judicial notice to the courts.
Legal Status
Rule
Technical Amendments To Reflect BIF and SAIF Merger
A Rule by the Thrift Supervision Office on 04/18/2006
Document Details
Information about this document as published in the Federal Register.
- Printed version:
- Publication Date:
- 04/18/2006
- Agencies:
- Office of Thrift Supervision
- Document Type:
- Rule
- Document Citation:
- 71 FR 19810
- Page:
- 19810-19812 (3 pages)
- CFR:
- 12 CFR 528
- 12 CFR 546
- 12 CFR 552
- 12 CFR 561
- 12 CFR 563
- Agency/Docket Number:
- No. 2006-15
- RIN:
- 1550-AC05
- Document Number:
- 06-3720
Document Details
Document Statistics
- Page views:
- 49
- as of 11/18/2019 at 12:15 pm EST
Document Statistics
-
Enhanced Content - Table of Contents
This tables of contents is a navigational tool, processed from the headings within the legal text of Federal Register documents. This repetition of headings to form internal navigation links has no substantive legal effect.
- AGENCY:
- ACTION:
- SUMMARY:
- DATES:
- FOR FURTHER INFORMATION CONTACT:
- SUPPLEMENTARY INFORMATION:
- Administrative Procedure Act; Riegle Community Development and Regulatory Improvement Act of 1994
- Regulatory Flexibility Act
- Executive Order 12866
- Unfunded Mandates Reform Act of 1995
- List of Subjects
- 12 CFR Part 528
- 12 CFR Part 546
- 12 CFR Parts 552 and 563b
- 12 CFR Part 561
- 12 CFR Part 563
- 12 CFR Part 570
- 12 CFR Part 574
- 12 CFR Part 575
- 12 CFR Part 583
- PART 528—NONDISCRIMINATION REQUIREMENTS
- PART 546—FEDERAL MUTUAL SAVINGS ASSOCIATIONS—MERGER, DISSOLUTION, REORGANIZATION, AND CONVERSION
- PART 552—FEDERAL STOCK ASSOCIATIONS—INCORPORATION, ORGANIZATION, AND CONVERSION
- PART 561—DEFINITIONS FOR REGULATIONS AFFECTING ALL SAVINGS ASSOCIATIONS
- PART 563—SAVINGS ASSOCIATIONS—OPERATIONS
- PART 563b—CONVERSIONS FROM MUTUAL TO STOCK FORM
- PART 570—SAFETY AND SOUNDNESS GUIDELINES AND COMPLIANCE PROCEDURES
- Appendix A to Part 570 [Amended]
- PART 574—ACQUISITION OF CONTROL OF SAVINGS ASSOCIATIONS
- PART 575—MUTUAL HOLDING COMPANIES
- PART 583—DEFINITIONS FOR REGULATIONS AFFECTING SAVINGS AND LOAN HOLDING COMPANIES
Enhanced Content - Table of Contents
-
Enhanced Content - Submit Public Comment
- This feature is not available for this document.
Enhanced Content - Submit Public Comment
-
Enhanced Content - Read Public Comments
- This feature is not available for this document.
Enhanced Content - Read Public Comments
-
Enhanced Content - Sharing
- Shorter Document URL
- https://www.federalregister.gov/d/06-3720 https://www.federalregister.gov/d/06-3720
Enhanced Content - Sharing
-
Enhanced Content - Document Tools
These tools are designed to help you understand the official document better and aid in comparing the online edition to the print edition.
-
These markup elements allow the user to see how the document follows the Document Drafting Handbook that agencies use to create their documents. These can be useful for better understanding how a document is structured but are not part of the published document itself.
Display Non-Printed Markup Elements
Enhanced Content - Document Tools
-
-
Enhanced Content - Developer Tools
This document is available in the following developer friendly formats:
- JSON: Normalized attributes and metadata
- XML: Original full text XML
- MODS: Government Publishing Office metadata
More information and documentation can be found in our developer tools pages.
Enhanced Content - Developer Tools
Published Document
This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.
AGENCY:
Office of Thrift Supervision, Treasury.
ACTION:
Final rule.
SUMMARY:
The Office of Thrift Supervision (OTS) is amending its regulations to incorporate numerous technical and conforming amendments necessary to reflect the recent merger of the Bank Insurance Fund (BIF) and the Savings Association Insurance Fund (SAIF).
DATES:
Effective Date: April 18, 2006.
Start Further InfoFOR FURTHER INFORMATION CONTACT:
Sandra E. Evans, Legal Information Assistant (Regulations), (202) 906-6076; or Richard Bennett, Counsel, (202) 906-7409, Regulations and Legislation Division, Chief Counsel's Office, Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552.
End Further Info End Preamble Start Supplemental InformationSUPPLEMENTARY INFORMATION:
OTS is amending its regulations to incorporate numerous technical and conforming amendments necessary to reflect the recent merger of the Bank Insurance Fund (BIF) and the Savings Association Insurance Fund (SAIF). The Deposit Insurance Reform Act of 2005, which was enacted as part of the Deficit Reduction Act of 2005, Public Law 109-171, brought about this merger, creating one Deposit Insurance Fund (DIF). The President signed that act into law on February 8, 2006.
The Act provides that the merger would take effect no later than July 1, 2006. The Federal Deposit Insurance Corporation made the merger effective March 31, 2006.
Accordingly, OTS is making technical and conforming amendments to its regulations. These include deleting references to SAIF and BIF, substituting references to DIF where applicable, and other related changes to simplify definitions and provisions consistent with the Deposit Insurance Reform Act of 2005.
Administrative Procedure Act; Riegle Community Development and Regulatory Improvement Act of 1994
OTS finds that there is good cause to dispense with prior notice and comment on this final rule and with the 30-day delay of effective date mandated by the Administrative Procedure Act. 5 U.S.C. 553. OTS believes that these procedures are unnecessary and contrary to public interest because the rule merely makes technical and conforming amendments to existing provisions necessitated by the merger of BIF and SAIF under the Deposit Insurance Reform Act of 2005. That merger took effect March 31, 2006.
Section 302 of the Riegle Community Development and Regulatory Improvement Act of 1994 provides that regulations that impose additional reporting, disclosure, or other new requirements may not take effect before the first day of the quarter following publication. Public Law 103-325, 12 U.S.C. 4802. This section does not apply because this final rule imposes no additional requirements and makes only technical and conforming changes to existing regulations.
Regulatory Flexibility Act
Pursuant to section 605(b) of the Regulatory Flexibility Act, Public Law 96-354, 5 U.S.C. 601, the OTS Director certifies that this regulation will not have a significant economic impact on a substantial number of small entities.
Executive Order 12866
OTS has determined that this rule is not a “significant regulatory action” for purposes of Executive Order 12866.
Unfunded Mandates Reform Act of 1995
OTS has determined that the requirements of this final rule will not result in expenditures by State, local, and tribal governments, or by the private sector, of $100 million or more in any one year. Accordingly, a budgetary impact statement is not required under section 202 of the Unfunded Mandates Reform Act of 1995.
Start List of SubjectsList of Subjects
- Advertising
- Aged
- Civil rights
- Credit
- Equal employment opportunity
- Fair housing
- Individuals with disabilities
- Marital status discrimination
- Mortgages
- Religious discrimination
- Reporting and recordkeeping requirements
- Savings associations
- Sex discrimination
- Signs and symbols
and 563b
- Accounting
- Administrative practice and procedure
- Advertising
- Conflict of interest
- Crime
- Currency
- Holding companies
- Investments
- Mortgages
- Reporting and recordkeeping requirements
- Savings associations
- Securities
- Surety bond
- Accounting
- Administrative practice and procedure
- Bank deposit insurance
- Holding companies
- Reporting and
- Administrative practice and procedure
- Holding companies
- Reporting and recordkeeping requirements
- Savings associations
- Securities
- Administrative practice and procedure
- Holding companies
- Reporting and recordkeeping requirements
- Savings associations
- Securities
End List of Subjects Start Amendment Part
Accordingly, the Office of Thrift Supervision amends title 12, chapter V of the Code of Federal Regulations, as set forth below.
End Amendment Part Start PartPART 528—NONDISCRIMINATION REQUIREMENTS
End Part Start Amendment Part1. The authority citation for part 528 continues to read as follows:
End Amendment Part Start AuthorityAuthority: 12 U.S.C. 1464, 2810 et seq., 2901 et seq.; 15 U.S.C. 1691; 42 U.S.C. 1981, 1982, 3601-3619.
End Authority Start Amendment Part2. Revise § 528.1(b) to read as follows:
End Amendment Part(b) Savings association. The term “savings association” means any savings association as defined in 12 U.S.C. 1813(b).
PART 546—FEDERAL MUTUAL SAVINGS ASSOCIATIONS—MERGER, DISSOLUTION, REORGANIZATION, AND CONVERSION
End Part Start Amendment Part3. The authority citation for part 546 continues to read as follows:
End Amendment Part Start AuthorityAuthority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 2901 et seq.
End Authority Start Amendment Part4. Revise § 546.2(a)(3) to read as follows:
End Amendment Part(a) * * *
(3) Any resulting Federal savings association conforms within the time prescribed by the OTS to the requirements of sections 5(c) and 10(m) of the Home Owners' Loan Act; and
PART 552—FEDERAL STOCK ASSOCIATIONS—INCORPORATION, ORGANIZATION, AND CONVERSION
End Part Start Amendment Part5. The authority citation for part 552 continues to read as follows:
End Amendment Part Start AuthorityAuthority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a.
End Authority Start Amendment Part6. Revise § 552.13(a) and (c)(3) to read as follows:
End Amendment Part(a) Scope and authority. Federal stock associations may enter into combinations only in accordance with the provisions of this section, section 18(c) of the Federal Deposit Insurance Act, sections 5(d)(3)(A) and 10(s) of the Home Owners' Loan Act, and § 563.22 of this part.
(c) * * *
(3) Any resulting Federal savings association conforms within the time prescribed by the OTS to the requirements of sections 5(c) and 10(m) of the Home Owners' Loan Act; and
PART 561—DEFINITIONS FOR REGULATIONS AFFECTING ALL SAVINGS ASSOCIATIONS
End Part Start Amendment Part7. The authority citation for part 561 continues to read as follows:
End Amendment Part Start AuthorityAuthority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a.
End Authority8. Amend § 561.3 by removing “SAIF” and adding in its place “Deposit Insurance Fund”.
End Amendment Part9. Remove and reserve § 561.7.
End Amendment Part10. Remove and reserve § 561.41.
End Amendment Part Start PartPART 563—SAVINGS ASSOCIATIONS—OPERATIONS
End Part Start Amendment Part11. The authority citation for part 563 continues to read as follows:
End Amendment Part Start AuthorityAuthority: 12 U.S.C. 375b, 1462, 1462a, 1463, 1464, 1467a, 1468, 1817, 1820, 1828, 1831o, 3806; 31 U.S.C. 5318; 42 U.S.C. 4106.
End Authority Start Amendment Part12. Amend § 563.22 as follows:
End Amendment Part Start Amendment Parta. Revise paragraph (d)(4);
End Amendment Part Start Amendment Partb. Remove “the Savings Association Insurance Fund, the Bank Insurance Fund,” and add in its place “the Deposit Insurance Fund” in paragraph (e)(2)(i);
End Amendment Part Start Amendment Partc. Remove “, except as provided in paragraph (h)(2)(iii) of this section” in paragraph (h)(2)(ii); and
End Amendment Part Start Amendment Partd. Remove paragraph (h)(2)(iii), to read as follows:
End Amendment Part(d) * * *
(4) Applications filed under paragraph (a) of this section must be processed in accordance with the time frames set forth in §§ 516.210 through 516.290 of this chapter, provided that the period for review may be extended only if the Office determines that the applicant has failed to furnish all requested information or that the information submitted is substantially inaccurate, in which case the review period may be extended for up to 30 days.
13. Amend § 563.81 as follows:
End Amendment Part Start Amendment Parta. Remove “the Savings Association Insurance Fund or the Bank Insurance Fund, as the case may be,” and add in its place “the Deposit Insurance Fund” in paragraph (b)(3);
End Amendment Part Start Amendment Partb. Remove “the Savings Association Insurance Fund or the Bank Insurance Fund, as the case may be,” and add in its place “the Deposit Insurance Fund” in paragraph (f);
End Amendment Part Start Amendment Partc. Remove “whose accounts are insured by the Savings Association Insurance Fund,” in paragraph (k)(3)(ii); and
End Amendment Part Start Amendment Partd. Remove “the Savings Association Insurance Fund or the Bank Insurance Fund, as appropriate” and add in its place “the Deposit Insurance Fund” in paragraph (k)(5)(i).
End Amendment Part Start PartPART 563b—CONVERSIONS FROM MUTUAL TO STOCK FORM
End Part Start Amendment Part14. The authority citation for part 563b continues to read as follows:
End Amendment Part Start AuthorityAuthority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 2901; 15 U.S.C. 78c, 78l, 78m, 78n, 78w.
End Authority15. Amend § 563b.625 by removing “the federal deposit insurance funds” and adding in its place “the Deposit Insurance Fund” in paragraphs (b)(3) and (4).
End Amendment Part16. Revise the section heading of § 563b.630 to read as follows:
End Amendment Part17. Amend the introductory text of § 563b.630 by removing “BIF-insured”.
End Amendment Part Start Amendment Part18. Amend § 563b.670 by removing “the federal deposit insurance funds” and adding in its place “the Deposit Insurance Fund” in paragraph (b).
End Amendment Part19. Amend § 563b.675 by removing “the federal deposit insurance funds” and adding in its place “the Deposit Insurance Fund” in paragraph (b)(1).
End Amendment Part Start PartPART 570—SAFETY AND SOUNDNESS GUIDELINES AND COMPLIANCE PROCEDURES
End Part Start Amendment Part20. The authority citation for part 570 continues to read as follows:
End Amendment Part Start AuthorityAuthority: 12 U.S.C. 1462a, 1463, 1464, 1467a, 1828, 1831p-1, 1881-1884; 15 U.S.C. 1681s and 1681w; 15 U.S.C. 6801 and 6805(b)(1).
End AuthorityAppendix A to Part 570 [Amended]
Start Amendment Part21. Amend paragraph I(vi) of Appendix A by removing “the deposit insurance funds” and adding in its place “the Deposit Insurance Fund”.
End Amendment Part Start PartPART 574—ACQUISITION OF CONTROL OF SAVINGS ASSOCIATIONS
End Part Start Amendment Part22. The authority citation for part 574 continues to read as follows:
End Amendment Part Start AuthorityAuthority: 12 U.S.C. 1467a, 1817, 1831i.
End Authority23. Remove and reserve § 574.2, paragraphs (e) and (o).
End Amendment Part24. Amend § 574.7 as follows:
End Amendment Part Start Amendment Parta. Remove “the SAIF or BIF; or” and add in its place “the Deposit Insurance Fund; or” in paragraph (c)(1)(i);
End Amendment Part Start Amendment Partb. Remove “the SAIF or the BIF” and add in its place “the Deposit Insurance Fund” in paragraph (d)(6).
End Amendment Part Start PartPART 575—MUTUAL HOLDING COMPANIES
End Part Start Amendment Part25. The authority citation for part 575 continues to read as follows:
End Amendment Part Start AuthorityAuthority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 1828, 2901.
End Authority26. Amend § 575.7 by removing “the relevant Federal deposit insurance fund,” and adding in its place “the Deposit Insurance Fund,” in paragraph (d)(6)(ii).
End Amendment Part Start PartPART 583—DEFINITIONS FOR REGULATIONS AFFECTING SAVINGS AND LOAN HOLDING COMPANIES
End Part Start Amendment Part27. The authority citation for part 583 continues to read as follows:
End Amendment Part Start AuthorityAuthority: 12 U.S.C. 1462, 1462a, 1463, 1464, 1467a, 1468.
End Authority Start Amendment Part28. Revise § 583.3 to read as follows:
End Amendment PartThe term bank means any national bank, state bank, state-chartered savings bank, cooperative bank, or industrial bank, the deposits of which are insured by the Deposit Insurance Fund.
29. Remove and reserve § 583.5.
End Amendment Part30. Remove and reserve § 583.19.
End Amendment Part Start SignatureDated: March 31, 2006.
By the Office of Thrift Supervision.
John M. Reich,
Director.
[FR Doc. 06-3720 Filed 4-17-06; 8:45 am]
BILLING CODE 6720-01-P