| TO: |
CHIEF EXECUTIVE OFFICER |
| SUBJECT: |
Final Rule Governing Filing Procedures and Other Provisions (12 C.F.R. Parts 303, 333, 347, 348 and 359) |
| Summary: |
Revisions (primarily technical amendments) have been made to the regulations on Filing Procedures, Corporate Powers, International Banking, Management Official Interlocks, and Golden Parachute and Indemnification Payments.
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The Federal Deposit Insurance Corporation (FDIC) Board of Directors has approved the attached technical revisions and modifications to 12 C.F.R. Part 303 and technical corrections to other regulations in Chapter III of the FDIC's Rules and Regulations. The final rule also adds a provision allowing the FDIC Board of Directors to waive, for good cause, nonstatutorily mandated provisions contained in Chapter III.
The changes to Part 303 and the technical corrections to other regulations in Chapter III clarify:
- The rules relating to time period commencements;
- The FDIC's response time for certain filings;
- The required rating for expedited processing for thrift and thrift holding company filings;
- That the acquisition of control of a parent company of a state nonmember bank generally requires a change in control notice; and
- The certification to be made by an insured depository institution relating to golden parachute payments.
Revisions also correct cross-references between Part 303 and the substantive regulations in Chapter III.
For your reference, FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at http://www.fdic.gov/news/news/financial/2003/index.html.
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Michael J. Zamorski |
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Director |
Attachment: August 21, 2003, Federal Register, pages 50457-50461
 HTML | PDF (51 KB File - PDF Help or Hard Copy)
Distribution: All FDIC-Insured Depository Institutions
NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC’s Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342, option 5, or (703) 562-2200).
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