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Federal Register / Vol. 86, No. 205 / Wednesday, October 27, 2021 / Rules and Regulations
soundness and the public interest, any administrative burdens that such regulations would place on depository institutions, including small depository institutions, and customers of depository institutions, as well as the benefits of such regulations. In addition, section 302b of RCDRIA requires new regulations and amendments to regulations that impose additional reporting, disclosures, or other new requirements on insured depository institutions generally to take effect on the first day of a calendar quarter that begins on or after the date on which the regulations are published in final form.18
The FDIC believes that this final rule does not impose new reporting, disclosure, or other requirements, and likely instead reduces such burdens by allowing Electing CBOs to avoid calculating and reporting tier 2 capital, as would be required under the current Real Estate Lending Standards.
Therefore, the FDIC believes that it is not necessary to delay the effective date beyond the 30-day period provided in the APA.

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E. Plain Language Section 722 of the GLBA 19 requires each Federal banking agency to use plain language in all of its proposed and final rules published after January 1, 2000. The FDIC sought to present the final rule in a simple and straightforward manner and did not receive any comments on the use of plain language in the proposal.
F. Congressional Review Act For purposes of the Congressional Review Act, OMB makes a determination as to whether a final rule constitutes a major rule. If a rule is deemed a major rule by the OMB, the Congressional Review Act generally provides that the rule may not take effect until at least 60 days following its publication.
The Congressional Review Act defines a major rule as any rule that the Administrator of the Office of Information and Regulatory Affairs of the OMB finds has resulted in or is likely to result in 1 an annual effect on the economy of $100,000,000 or more;
2 a major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies or geographic regions; or 3
significant adverse effects on competition, employment, investment, productivity, innovation, or on the ability of United States-based 18 Id.
19 12

at 4802b.
U.S.C. 4809.

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enterprises to compete with foreignbased enterprises in domestic and export markets.
The OMB has determined that the final rule is not a major rule for purposes of the Congressional Review Act, and the FDIC will submit the final rule and other appropriate reports to Congress and the Government Accountability Office for review.
List of Subjects in 12 CFR Part 365
Banks, Banking, Mortgages, Savings associations.
Authority and Issuance For the reasons stated in the preamble, the Federal Deposit Insurance Corporation amends part 365 of chapter III of title 12 of the Code of Federal Regulations as follows:
PART 365REAL ESTATE LENDING
STANDARDS
1. The authority citation for part 365
continues to read as follows:

Authority: 12 U.S.C. 1828o and 5101 et seq.

2. Amend appendix A to subpart A by revising the section titled Loans in Excess of the Supervisory Loan-to-Value Limits to read as follows:

Appendix A to Subpart A of Part 365
Interagency Guidelines for Real Estate Lending Policies

4 For the purposes of these Guidelines, for state non-member banks and state savings associations, total capital refers to the FDIC-supervised institutions tier 1 capital, as defined in 324.2 of this chapter, plus the allowance for loan and leases losses or the allowance for credit losses attributable to loans and leases, as applicable. The allowance for credit losses attributable to loans and leases is applicable for institutions that have adopted the Current Expected Credit Losses methodology.

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Federal Deposit Insurance Corporation.
By order of the Board of Directors.
Dated at Washington, DC, on October 21, 2021.
James P. Sheesley, Assistant Executive Secretary.
FR Doc. 202123381 Filed 102621; 8:45 am BILLING CODE 671401P

NATIONAL CREDIT UNION
ADMINISTRATION
12 CFR Parts 700, 701, 703, 704, and 713
RIN 3133AF32

CAMELS Rating System

Loans in Excess of the Supervisory Loan-toValue Limits The agencies recognize that appropriate loan-to-value limits vary not only among categories of real estate loans but also among individual loans. Therefore, it may be appropriate in individual cases to originate or purchase loans with loan-to-value ratios in excess of the supervisory loan-to-value limits, based on the support provided by other credit factors. Such loans should be identified in the institutions records, and their aggregate amount reported at least quarterly to the institutions board of directors. See additional reporting requirements described under Exceptions to the General Policy.
The aggregate amount of all loans in excess of the supervisory loan-to-value limits should not exceed 100 percent of total capital.4
Moreover, within the aggregate limit, total loans for all commercial, agricultural, multifamily or other non-1-to-4 family
PO 00000

residential properties should not exceed 30
percent of total capital. An institution will come under increased supervisory scrutiny as the total of such loans approaches these levels.
In determining the aggregate amount of such loans, institutions should: a Include all loans secured by the same property if any one of those loans exceeds the supervisory loan-to-value limits; and b include the recourse obligation of any such loan sold with recourse. Conversely, a loan should no longer be reported to the directors as part of aggregate totals when reduction in principal or senior liens, or additional contribution of collateral or equity e.g., improvements to the real property securing the loan, bring the loan-to-value ratio into compliance with supervisory limits.

National Credit Union Administration NCUA.
ACTION: Final rule.
AGENCY:

The NCUA Board the Board is updating the NCUAs supervisory rating system from CAMEL to CAMELS
by adding the S Sensitivity to Market Risk component to the existing CAMEL
rating system and redefining the L
Liquidity Risk component. The benefits of adding the S component are to enhance transparency and allow the NCUA and federally insured natural person and corporate credit unions to better distinguish between liquidity risk L and sensitivity to market risk S. The addition of S also enhances consistency between the supervision of credit unions and financial institutions supervised by the other banking agencies. The effective date of the rule will be April 1, 2022.
The Board plans to implement the addition of the S rating component and a redefined L rating for examinations and contacts started on or after April 1, 2022.
DATES: The rule becomes effective April 1, 2022.
SUMMARY:

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