Activities of Insured State Banks and Insured Savings Associations

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The FDIC is seeking public comment on its proposal to amend its rules and regulations governing activities and investments of insured state banks. The FDIC proposes to add safety and soundness standards to govern insured state nonmember banks that engage in the public sale, distribution or underwriting of stocks, bonds, debentures, notes or other securities through a subsidiary if those activities are permissible for a national bank subsidiary but are not permissible for the national bank itself. In addition, the FDIC proposes to require that insured state nonmember banks file a notice before commencing any activities permissible for subsidiaries of a national bank that are not permissible for the parent national bank itself. The FDIC also proposes to remove and reserve the provisions addressing, ``Securities Activities of Subsidiaries of Insured State Banks: Bank Transactions with Affiliated Securities Companies.'' The proposed effect of these amendments will be to require banks to notify the FDIC prior to conducting securities or other activities through subsidiaries that are not permissible for the bank itself. These amendments also will consolidate all securities activities reg