Bankowość · 06/08/1996

Determination of Economically Depressed Regions

As part of the FDIC's systematic review of its regulations under section 303(a) of the Riegle Community Development and Regulatory Improvement Act of 1994 (CDRI), the FDIC is amending its regulation on economically depressed regions to reflect changes in the marketplace, update and streamline the regulation, improve efficiency, and reduce unnecessary costs. The FDIC also is withdrawing a previous proposed amendment to the regulation which was published December 18, 1992. The FDIC is required by statute to consider proposals for direct financial assistance by Savings Association Insurance Fund (SAIF) members having offices located in an economically depressed region and meeting certain other specified criteria, before grounds exist for the appointment of a conservator or receiver for the institution. The FDIC is proposing to amend this regulation, which designates certain economically depressed regions, by adding guidance to enable applicants to evaluate their situations before formally applying for assistance. Rather than periodically designating specific regions in light of current economic conditions, the proposed rule provides the criteria that the FDIC will use to determine whi