Federal Register - November 22, 2021
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Source: Federal Register
66155
Rules and Regulations
Federal Register Vol. 86, No. 222
Monday, November 22, 2021
This section of the FEDERAL REGISTER
contains regulatory documents having general applicability and legal effect, most of which are keyed to and codified in the Code of Federal Regulations, which is published under 50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by the Superintendent of Documents.
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 363
RIN 3064AF77
Applicability of Annual Independent Audits and Reporting Requirements for Fiscal Years Ending in 2021;
Correction
Need for Correction
Federal Deposit Insurance Corporation FDIC.
ACTION: Correcting amendment.
AGENCY:
This document contains a correction to the authority citation and regulatory text regarding the applicability of annual independent audits and reporting requirements for fiscal years ending in 2021, which was published in an interim final rule IFR
on October 23, 2020.
DATES: This correcting amendment is effective on November 22, 2021, except for instruction 3, which is effective November 22, 2021 through December 31, 2021.
FOR FURTHER INFORMATION CONTACT:
Harrison E. Greene, Jr., Assistant Chief Accountant, 202 8988905, hgreene@
fdic.gov; Shannon M. Beattie, Section Chief and Deputy Chief Accountant, 202 8983952, sbeattie@fdic.gov; John Rieger, Chief Accountant, 202 898
3602, jrieger@fdic.gov; Mark G.
Flanigan, Senior Counsel, 202 898
7426, mflanigan@fdic.gov; Joyce M.
Raidle, Counsel, 202 8986763, jraidle@fdic.gov, Legal Division, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429. For the hearing impaired only, Telecommunication Device for the Deaf TDD, 800 9254618.
SUPPLEMENTARY INFORMATION:
jspears on DSK121TN23PROD with RULES1
SUMMARY:
I. Background On October 23, 2020, the FDIC issued an IFR allowing insured depository institutions IDIs to determine the applicability of part 363 of the FDICs
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regulations for fiscal years ending in 2021 based on the lesser of the IDIs a consolidated total assets as of December 31, 2019; or b consolidated total assets as of the beginning of their fiscal years ending in 2021.
Notwithstanding the temporary relief provided by the IFR, IDIs remain subject to any audit and reporting requirements applicable under other laws and regulations. Also, the FDIC reserves the authority to require an IDI to comply with one or more requirements under part 363 if the FDIC determines that asset growth was related to a merger or acquisition.
This correcting amendment makes no change to the relief provided by the IFR
originally published, but clarifies the authority citation and revises 12 CFR
363.1 by removing the temporary relief regarding the applicability of annual independent audits and reporting requirements for fiscal years ending in 2021 from paragraph a and adding the temporary relief into paragraph e.
List of Subjects in 12 CFR Part 363
Accounting, Administrative practice and procedure, Banks, Banking, Reporting and recordkeeping requirements.
For the reasons stated in the preamble, the FDIC makes the following correcting amendment to 12 CFR part 363:
PART 363ANNUAL INDEPENDENT
AUDITS AND REPORTING
REQUIREMENTS
1. The authority citation for part 363
is revised to read as follows:
2. Amend 363.1 by revising paragraph a to read as follows:
Scope and definitions.
a Applicability. This part applies to any insured depository institution with respect to any fiscal year in which its consolidated total assets as of the beginning of such fiscal year are $500
million or more. The requirements specified in this part are in addition to any other statutory and regulatory requirements otherwise applicable to an insured depository institution.
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363.1
Scope and definitions.
e Temporary relief. 1
Notwithstanding paragraph a of this section and for all requirements in this part, with respect to any fiscal year ending in 2021, an insured depository institutions consolidated total assets shall be determined based on the lesser of an insured depository institutions consolidated total assets as of December 31, 2019, or an insured depository institutions consolidated total assets as of the beginning of its fiscal year ending in 2021.
2 Until December 31, 2021, the FDIC
reserves the authority to require an insured depository institution to comply with one or more requirements under this part if the FDIC determines that asset growth was related to a merger or acquisition.
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on November 16, 2021.
James P. Sheesley, Assistant Executive Secretary.
FR Doc. 202125415 Filed 111921; 8:45 am BILLING CODE 671401P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration 14 CFR Part 39
Docket No. FAA20211008; Project Identifier MCAI202101210T; Amendment 3921828; AD 20212407
RIN 2120AA64
Authority: 12 U.S.C. 1831m.
363.1
3. Effective November 22, 2021
through December 31, 2021, further amend 363.1 by adding paragraph e to read as follows:
Airworthiness Directives; ATRGIE
Avions de Transport Regional Airplanes Federal Aviation Administration FAA, DOT.
ACTION: Final rule; request for comments.
AGENCY:
The FAA is adopting a new airworthiness directive AD for certain ATRGIE Avions de Transport Regional Model ATR42 airplanes and Model ATR72 airplanes. This AD was prompted by a report of a certain procedure in the aircraft maintenance SUMMARY:
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22NOR1
