Rules of Practice and Procedure; Applications for a Stay or Review of Actions of Bank Clearing Agencies

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The Federal Deposit Insurance Corporation (FDIC) has conducted a review of its regulations pursuant to Section 303 of the Riegle Community Development and Regulatory Improvement Act of 1994. As a result, the FDIC is deleting its rules and regulations which pertain to Applications for a Stay or Review of Actions of Bank Clearing Agencies, and replacing them with new, more concise provisions. At the same time, the FDIC is moving those shorter provisions to a new subpart, which contains the FDIC's Rules of Practice and Procedure. The changes are intended to streamline the FDIC's regulations and to remove duplicative provisions, while maintaining uniformity in approach among the other banking agencies and the Securities and Exchange Commission (SEC).