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Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Rules and Regulations institutions, of which 35 1.1 percent were State savings associations.35 The final rule primarily affects regulations that govern State savings associations.
Therefore, the final rule is expected to affect 35 FDIC-supervised institutions.
As previously discussed, the final rule rescinds part 390, subpart F, because most of its elements are duplicative of substantively similar provisions of FDIC
regulations, principally part 303.
Additionally, the final rule amends certain elements of part 303 so that the provisions are applicable to State savings associations. In doing so, the final rule makes elements of part 390, subpart F, substantively duplicative of the amended elements of part 303, and, therefore, unnecessary. As such, the FDIC does not believe the final rule will have substantive effects on State savings associations.
Section 390.100 sets forth application processing procedures for State savings associations. However, existing statutes 36 and regulations already prescribe the general procedures for submitting filings to the FDIC and the procedures to be followed by the FDIC, applicants and interested parties during the process of considering a filing 37 for FDIC-supervised institutions, including State savings associations. Therefore, rescinding 390.100 is not expected to have any substantive effects on State savings associations.
Section 390.101 specifies the criteria for determining which filings receive expedited treatment and which receive standard treatment. State savings associations are already subject to substantively similar requirements in 303.2r and 303.11c, as well as the substantive subparts of part 303 of the FDIC regulations. Therefore, rescinding 390.101 is not expected to have any substantive effects on State savings associations.
Section 390.102 addresses the computation of time periods for State savings associations. State savings associations are subject to regulations that address the computation of relevant time periods at 303.4 of the FDIC
regulations. Therefore, rescinding 390.102 is not expected to have any substantive effects on State savings associations.
Section 390.103 addresses pre-filing meetings and FDIC contacts for filings to acquire control of State savings associations. Pre-filing meetings are not addressed in FDIC regulations, but are addressed in the Applications Procedures Manual APM, in which a 35 Call
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substantively similar description of prefiling meetings is given. Additionally, the APM states that a Case Manager will be assigned by the FDIC to the application in order to facilitate communication and engagement with the applicant. Therefore, the FDIC
believes that rescinding 390.103 is unlikely to have any substantive effects on State savings associations or change in control applicants.
Section 390.104 addresses certain requirements for business plans submitted by State savings associations under subpart F, which permits the FDIC to require additional business plan information during processing of the filing. Under part 303, business plans are required for certain filings, though the FDIC may request additional information for any filing. In this regard, the FDICs review processes include, as appropriate, pre-filing and other activities to ensure institutions understanding of the FDICs filing requirements and information needs. In certain cases, the content for business plans is addressed in filing forms or other FDIC resources. For example, the Inter-agency Charter and Deposit Insurance Application Form contains detailed instructions for the development of the business plan; and those instructions may assist institutions when submitting business plans as part of other filings. The FDIC
has also provided a Handbook for OrganizersApplying for Deposit Insurance, which aids all applicants for deposit insurance and includes sections on developing a business plan and business plan content. Generally, the FDIC believes it is appropriate to provide an institution with flexibility to tailor the content of the business plan to reflect its unique circumstances, strategies, and challenges. Therefore, in light of the discussion above, the FDIC
believes that rescinding 390.104 is unlikely to have any substantive effects on State savings associations or change in control applicants.
Section 390.105 addresses expedited and standard processing, as well as waiver requests for State savings associations. Expedited and standard processing, as well as waiver requirements, are encompassed in FDIC
regulations applicable to State savings associations found throughout various subparts and sections of part 303.
Therefore, the FDIC believes that rescinding 390.105 is unlikely to have any substantive effects on State savings associations or future applicants.
Section 390.106 addresses the content of filings for State savings associations.
It directs State savings associations to the applicable forms and the content
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requirements. The required content of filings is encompassed in FDIC
regulations applicable to State savings associations throughout various subparts and sections of part 303.
Therefore, the FDIC believes that rescinding 390.106 is unlikely to have any substantive effects on State savings associations or future applicants.
Section 390.107 addresses application confidentiality for State savings associations. FDIC regulations found at 303.8 and applicable to FDICsupervised institutions, including State savings associations, includes confidential treatment regulations that are substantively similar to those in 390.107. Therefore, the FDIC believes that rescinding 390.107 is unlikely to have any substantive effects on State savings associations or future applicants.
Section 390.108 addresses where to file applications, specifically providing regional office addresses. General application filing procedures for all FDIC-supervised institutions, including State savings associations, are encompassed in regulations found at 303.3 of the FDIC regulations. Further, although specific regional office addresses are not included in the regulation, they are available on the FDICs public website. Therefore, the FDIC believes that rescinding 390.108
is unlikely to have any substantive effects on State savings associations or future applicants.
Section 390.109 explains the application filing date. The FDIC does not have substantively similar regulations governing the filing date of an application. However, FDIC
regulations operate on the basis of the date on which a substantially complete filing is submitted. Further, the FDICs APM, which is accessible to all FDICsupervised institutions, including State savings associations, addresses the date on which an application is considered to be substantively complete. Therefore, the FDIC believes that rescinding 390.109 is unlikely to have any substantive effects on State savings associations or future applicants.
Section 390.110 discusses amending or supplementing an application. The FDIC does not have substantively similar regulations governing amending or supplementing an application.
However, the FDIC relies on determinations as to when an application is substantially complete. In addition, the FDICs APM, which is applicable to all FDIC-supervised institutions, including State savings associations, addresses both substantially complete filings and those not substantially complete, as well as
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