Bankowość · 4.09.2013

Removal of Transferred OTS Regulations Regarding Recordkeeping and Confirmation Requirements for Securities Transactions Effected by State Savings Associations and Other Amendments

In this notice of proposed rulemaking, the Federal Deposit Insurance Corporation ("FDIC") proposes to rescind and remove from the Code of Federal Regulations 12 CFR part 390, subpart K ("part 390, subpart K"), entitled "Recordkeeping and Confirmation Requirements for Securities Transactions." This subpart was included in the regulations that were transferred to the FDIC from the Office of Thrift Supervision ("OTS") on July 21, 2011, in connection with the implementation of applicable provisions of Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"). With few exceptions addressed below, the requirements for State savings associations in part 390, subpart K, are substantively similar to those in FDIC's 12 CFR part 344 ("part 344"), which also is entitled "Recordkeeping and Confirmation Requirements for Securities Transactions" and is applicable to State nonmember insured banks and foreign banks having an insured branch. The FDIC proposes to amend the definition section of part 344 to clarifying that part 344 applies to all insured depository institutions, including State savings associations, for which the FDIC is the appropriate Federal bank