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Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Rules and Regulations
how to supplement information.
Further, the APM states that an applicant may modify and update an application throughout the review process until final disposition, and that applicants often supplement their applications throughout the review process. Therefore, the FDIC believes that rescinding 390.110 is unlikely to have any substantive effects on State savings associations or future applicants.
Sections 390.111 through 390.115
address public notice requirements.
FDIC-supervised institutions, including State savings associations, are subject to substantively similar public notice requirements in 303.7 of the FDIC
regulations and throughout various subparts and sections of part 303.
Therefore, the FDIC believes that rescinding 390.111 through 390.115
is unlikely to have any substantive effects on State savings associations or future applicants.
Sections 390.116 through 390.120
address procedures for submission of public comments. FDIC-supervised institutions, including State savings associations, are subject to substantively similar requirements regarding procedures for submission of public comments in 303.9 of the FDIC
regulations and throughout various subparts and sections of part 303.
Therefore, the FDIC believes that rescinding 390.116 through 390.120
is unlikely to have any substantive effects on State savings associations or future applicants.
Sections 390.121 through 390.125
contain meeting procedures. Meetings are addressed generally in FDIC
regulations found at 12 CFR 303.6 and 303.10 for FDIC-supervised institutions, including State savings associations.
Although 303.6 and 303.10 of the FDIC regulations are generally less specific than 390.121 through 390.125, the FDIC believes the language in 303.6 is generally inclusive of the substance of 390.121 through 390.125
by stating that the FDIC may examine or investigate and evaluate facts related to any filing under this chapter to the extent necessary to reach an informed decision and take any action necessary or appropriate under the circumstances. Therefore, the FDIC
believes that rescinding 390.121
through 390.125 is unlikely to have any substantive effects on State savings associations or future applicants.
Section 390.126 addresses expedited treatment, including removal of the filing to standard processing, additional information requests, suspension of the processing period, and when the applicant can proceed with the activity
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if the FDIC has not acted. FDICsupervised institutions, including State savings associations, are subject to substantively similar requirements for matters receiving expedited treatment in 303.11c of the FDIC regulations, as well as 303.122 and 303.142.
Sections 303.3 and 303.11e, as well as substantive subparts of part 303, provide the FDIC authority to require submission of additional information.
Therefore, the FDIC believes that rescinding 390.126 is unlikely to have any substantive effects on State savings associations or future applicants.
Sections 390.127 and 390.128 address application completeness. The FDIC
does not have corresponding regulations addressing application completeness.
Instead, the application processing time periods under part 303 are triggered by the FDICs receipt of a substantially complete filing.38 The FDIC believes that the substantially complete filing step of part 303 permits the procedures for processing a filing under part 303, while essentially addressing the same issues, to be simpler and easier to navigate than those of 390.127 and 390.128. Sections 303.3 and 303.11e of the FDIC regulations, as well as substantive subparts of part 303, provide the FDIC authority to require submission of additional information.
The FDICs APM, which aids all FDICsupervised institutions, including State savings associations, addresses both substantially complete filings and those not substantially complete. Therefore, the FDIC believes that rescinding 390.127 and 390.128 is unlikely to have any substantive effects on State savings associations or future applicants.
Section 390.129 addresses eligibility examinations, as well as the authority of the FDIC to require such examinations and to request additional information.
Under 303.6 of the FDIC regulations, the FDIC may examine or investigate and evaluate facts related to any filing to the extent necessary to reach an informed decision and take any action necessary or appropriate under the circumstances. Sections 303.3 and 303.11e, as well as substantive subparts of part 303, provide the FDIC
authority to require submission of additional information. Therefore, the FDIC believes that a separate eligibility determination provision is unneeded, and rescinding 390.129 is unlikely to have any substantive effects on State savings associations or future applicants.
Section 390.130 addresses potential FDIC requests for additional information 38 12

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or actions from applicants. FDICsupervised institutions, including State savings associations, are subject to substantively similar requirements regarding potential FDIC requests for additional information or actions from applicants through various subparts and sections of part 303. Therefore, the FDIC
believes that rescinding 390.130 is unlikely to have any substantive effects on State savings associations or future applicants.
Section 390.131 explains requirements to publish new public notices. FDIC-supervised institutions, including State savings associations, are subject to substantively similar requirements regarding publishing new public notices in 303.7f of the FDIC
regulations. Therefore, the FDIC
believes that rescinding 390.131 is unlikely to have any substantive effects on State savings associations or future applicants.
Section 390.132 addresses suspension of an application. Part 303 has no such provision. However, the FDIC believes that situations envisioned by 390.132
can be effectively addressed on a caseby-case basis without need of a regulation, or that a regulation is not needed because the processing period under part 303 does not begin until the FDIC receives a substantially complete filing and, thus, no suspension is necessary. Therefore, the FDIC believes that rescinding 390.132 is unlikely to have any substantive effects on State savings associations or future applicants.
Section 390.133 addresses the applicable review period for an application. The FDICs part 303
regulations contain provisions that bear on the same issues and are similar in substantive effect as the 390.133
provisions. Thus, while part 303
addresses review periods in a different manner than subpart F, the FDIC
believes that the substantive effect is similar and that rescinding 390.133 is unlikely to have any substantive effects on State savings associations or future applicants.
Section 390.134 requires the FDIC to approve or deny an application before the expiration of the applicable review period, including any extensions, and notify the applicant, in writing, of its decision. If the FDIC does not act under paragraph a1 of the section, the application is deemed approved. The FDICs part 303 procedures do not contain such a requirement for applications as opposed to some notice filings. However, when read in conjunction with 390.133, the FDIC
has significant, though not complete, discretion under subpart F to extend the
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