Rules Regarding Availability of Information
| Published date | 15 October 2020 |
| Citation | 85 FR 65262 |
| Record Number | 2020-22463 |
| Section | Proposed rules |
| Court | Federal Reserve System |
This section of the FEDERAL REGISTER
contains notices to the public of the proposed
issuance of rules and regulations. The
purpose of these notices is to give interested
persons an opportunity to participate in the
rule making prior to the adoption of the final
rules.
Proposed Rules Federal Register
65262
Vol. 85, No. 200
Thursday, October 15, 2020
1
https://www.justice.gov/oip/template-agency-
foia-regulations. The DOJ Guidance incorporates
requirements found in the FOIA Improvement Act
of 2016 (Pub. L. 114–185).
FEDERAL RESERVE SYSTEM
12 CFR Part 271
Rules Regarding Availability of
Information
AGENCY
: Federal Open Market
Committee (Committee), Federal
Reserve System.
ACTION
: Notice of proposed rulemaking
and request for comment.
SUMMARY
: The Committee is inviting
comment on a notice of proposed
rulemaking (proposal) that would
amend the Committee’s Rules Regarding
Availability of Information (Committee’s
Rules). The amendments clarify and
update the Committee’s regulations
implementing the Freedom of
Information Act (FOIA) by streamlining
its regulations and incorporating
guidance from the Department of Justice
(DOJ).
DATES
: Comments must be received by
December 14, 2020.
ADDRESSES
: You may submit comments,
identified by ‘‘Part 271 Rules Regarding
Availability of Information,’’ by any of
the following methods:
•Email: fomcregs.comments@frb.gov.
Include ‘‘Part 271 Rules Regarding
Availability of Information’’ in the
subject line of the message.
•Fax: (202) 452–2921.
•Mail: Matthew Luecke, Deputy
Secretary of the Committee, Federal
Open Market Committee, 20th Street
and Constitution Avenue NW,
Washington, DC 20551.
All public comments are available
from the Committee’s website at https://
www.federalreserve.gov/foia/fomc/
readingrooms.htm as submitted, unless
modified for technical reasons or to
remove personally identifiable
information at the commenter’s request.
Accordingly, comments will not be
edited to remove any identifying or
contact information. Public comments
may also be viewed in paper upon
request by calling (202) 973–7400 to
receive copies of the comments by mail.
FOR FURTHER INFORMATION CONTACT
:
Matthew Luecke, Deputy Secretary of
the Committee, (202) 452–2576, Federal
Open Market Committee, 20th Street
and Constitution Avenue NW,
Washington, DC 20551; Misty M.
Kheterpal, Senior Counsel, (202) 452–
2597, or Eric Stitely, Senior Attorney,
(202) 872–4944; Board of Governors of
the Federal Reserve System, 20th Street
and Constitution Avenue NW,
Washington, DC 20551.
SUPPLEMENTARY INFORMATION
:
I. Background
The purpose of this proposed revision
of the Committee’s Rules is to set forth
more clearly the procedures for
requesting access to documents that are
records of the Committee under the
FOIA. The proposal also revises certain
definitions to be consistent with
language from the FOIA and DOJ
guidance
1
and to conform to the
Committee’s current FOIA practices.
The Committee is also proposing to
reorganize the format of its rules for
clarity by organizing the regulations into
three subparts. Subpart A, consisting of
§§ 271.1 through 271.4, will contain
general provisions and definitions of
terms used throughout part 271. Subpart
B, consisting of §§ 271.10 through
271.16, will implement the FOIA and
lay out the requirements and procedures
for requesting records from the
Committee. Subpart C, consisting of
§ 271.20, will set forth the procedures
with respect to subpoenas. These
provisions and changes are described in
more detail below.
II. Description of the Proposal
A. Subpart A—General
Subpart A describes the authority,
purpose, and scope of the regulation
and includes new or revised definitions
for the terms used in the regulation.
Subpart A also has a new section,
§ 271.3, which describes the process for
certification and service of subpoenas.
Finally, § 271.4, which describes
prohibitions against disclosure, was
formerly part of § 271.7(e) and has been
moved to Subpart A for clarity.
§ 271.1 Authority, Purpose, and Scope
While § 271.1 largely tracks the
current § 271.1, the Committee has
made changes to improve the language
and organization of the section.
§ 271.2 Definitions
Section 271.2 contains the definitions
of key terms used throughout part 271.
The Committee’s proposal to § 271.2
adds new terms and clarifies certain
existing terms. In addition, the
Committee proposes moving all terms
related to the fees for processing a FOIA
request, such as ‘‘commercial use
request,’’ ‘‘direct costs,’’ ‘‘duplication,’’
‘‘educational institution,’’
‘‘noncommercial scientific institution,’’
‘‘representative of the news media,’’ and
‘‘review’’ to the general fees section at
§ 271.16. The Committee’s proposed
changes to these fees-related definitions
are discussed in more depth in the Fees
section below.
The Committee proposes adding new
definitions for three new terms
(‘‘Committee,’’ ‘‘exempt information,’’
and ‘‘working day’’). The Committee
also proposes modifying the definitions
of ‘‘records of the Committee’’ and
‘‘search’’ to clarify the full scope of
those terms and to conform the terms
with current Committee practices to
facilitate the orderly processing of
requests. Finally, the Committee
proposes deleting the definition
‘‘information of the committee’’ as no
longer necessary in light of the revision
made in § 271.2(e).
§ 271.2(b) Committee Committee
means the Chairman of the Committee
or his designee.
§ 271.2(c) Exempt information The
Committee proposes adding the term
‘‘exempt information’’ to emphasize that
the term applies to information subject
to an exemption under the FOIA.
§ 271.2(e) Records of the Committee
The Committee’s revised definition of
this term updates the description of
records by incorporating language from
the definition of ‘‘information of the
committee’’ to better clarify the types of
records the public can request under the
FOIA.
§ 271.2(f)(1) Search The proposed
changes simplify the definition of
‘‘search’’ by moving the part of the
definition relating to computing fees to
§ 271.16, which discusses the fee
schedule.
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§ 271.2(g) Working day The
Committee proposes adding a definition
of ‘‘working day’’ to clarify time limits
in accordance with the FOIA. 5 U.S.C.
552(a)(6)(A)(i).
§ 271.3 Certification of Record; Service
of Subpoenas or Other Process
A new § 271.3 will be added to
subpart A to add language clarifying
that the secretary of the Committee may
certify the authenticity of any
Committee record and is authorized to
accept service of subpoenas or other
judicial process.
§ 271.4 Prohibition Against Disclosure
A new § 271.4 will be added to
subpart A to emphasize the general
prohibition on disclosure of the
Committee’s exempt information by
Board or Reserve Bank staff. This
provision is currently included in
§ 271.7(e).
B. Subpart B—Published Information
and Records Available to Public;
Procedures for Requests
Subpart B implements the FOIA and
sets forth the procedures for requesting
records from the Committee.
§ 271.10 Published Information
This revised section (currently
§ 271.3) is modified to combine similar
information from current §§ 271.3 and
271.4 into one section. Since it is the
first section in subpart B, it will be
renumbered to § 271.10. Section 271.10
lists and explains the various types of
information that are readily available to
the public in the Federal Register or in
the Committee’s electronic reading
room. The proposed regulations revise
the regulations in four ways. First, the
Committee proposes shortening the list
of items published in the Federal
Register by replacing the item listed in
original paragraph (a)(6) with Other
notices as required by law in order to
add flexibility in the event of new
required reports. Second, the Committee
proposes removing the paragraph
regarding the Annual report to Congress
due to the ready availability of this
information on the Board’s public
website. Third, the Committee proposes
moving the information from paragraph
(c) regarding Other published
information into paragraph (b) Publicly
available information; specifically, the
information will be under paragraph
(b)(1) about the Committee’s electronic
reading room. Finally, the Committee
will consolidate duplicative material in
current § 271.4 into §271.10(b). The
FOIA statute requires certain
information be made available for
public inspection. Currently, the
Committee’s regulations summarize
under current § 271.4 that ‘‘records
described in 5 U.S.C. 552(a)(2)’’ will be
made available for inspection in
electronic format. In order to be more
transparent, the Committee will now list
out the specific types of information
from 5 U.S.C. 552(a)(2) in
§ 271.10(b)(1)(i) through (v). In
particular, § 271.10(b)(1) will explain
what information is available in the
Committee’s electronic reading room,
§ 271.10(b)(2) will explain which
publicly available filings may be made
available at Reserve Banks, and
§ 271.10(b)(3) will contain the existing
provision from current § 271.4(d)
authorizing the Committee to delete
personal privacy details prior to
disclosure.
§ 271.11 Records Available to the
Public Upon Request
This revised section (currently
§ 271.5) is modified to separate the
mechanics of making a request (new
§ 271.11(a)) from the contents of the
request (new § 271.11(b)). Specifically,
information about how the request
should reasonably describe records will
now be covered in the contents of the
request instead of in the section
describing the procedures for making a
request. In addition, the Committee
proposes adding language to clarify that
a request for records cannot be
combined with any other request
submitted to the Committee. Finally,
§ 271.11(c) will include information
about what constitutes a perfected
request in addition to the current
information about defective requests.
§ 271.12 Processing Requests
The substance of current § 271.6
relating to processing requests is largely
unchanged, although some clarifying
language has been added. This section
(newly numbered § 271.12) contains
information on tracking and time limits.
In addition, the Committee proposes
clarifying that its time period for
responding to a request begins when it
receives a perfected request that
includes all required information.
Responses to requests, currently in
§ 271.6, will be moved to the next
section, § 271.13. Matters related to
appeals, also currently included in
§ 271.6, will be moved to a later section,
§ 271.14. Further changes to §271.12
include incorporating language from
DOJ guidance into §§ 271.12(c)
(‘‘Expedited Processing’’) and (e) (‘‘Time
Limits’’).
§ 271.13 Responses to Requests
While the majority of the language in
the proposal reflects the current
regulation regarding responses to
requests, § 271.13 is reorganized and
includes a few substantive edits. Section
271.13(a) will clarify that the search for
responsive records, and therefore the
start of the response time clock, will
begin once the Committee has received
a perfected request. The language will
also be revised to explain that the search
for responsive records will be of
Committee records in existence as of the
date of the search. The foreseeable harm
standard language currently in
§ 271.7(a) will be moved to §271.13(c)
and the discussion of segregability, now
in § 271.7(b), will be moved to
§ 271.13(d) to reflect the sequential
process that the Committee takes when
it processes a FOIA request. The
Committee proposes editing
§ 271.13(e)(3) (currently §271.6(e)(3)) to
conform to the DOJ guidance, mainly to
specify that the Committee will provide
the requester with an estimate of the
amount of information withheld unless
the amount of information withheld is
indicated by deletions marked on the
documents that are produced in part or
if providing an estimate would harm an
interest protected by an exemption.
Section 271.13(f) will set out with
additional specificity what
determinations are considered ‘‘adverse
determinations’’ that can be appealed.
Finally, the Committee proposes editing
§ 271.13(g) (currently §271.6(g)) to
indicate that the Committee will
typically send responsive records via
email unless otherwise agreed upon by
the Committee and the requester.
§ 271.14 Appeals
The Committee proposes adding a
new section, § 271.14, for Appeals,
which was previously discussed in
§ 271.6(h). Section 271.14(a)(1) will now
specifically include information about
how to appeal the denial of expedited
treatment. Further, the time period of 90
days for a requester to file an appeal is
being added to conform to the FOIA
statute and DOJ guidance. Finally, the
Committee proposes adding § 271.14(c)
to explain that the Committee may
reconsider an adverse determination if
intervening circumstances or additional
facts come to the attention of the
Committee.
§ 271.15 Exemptions From Disclosure
Section 271.15 lists the exemptions
available under the FOIA, currently
located in § 271.7. The Committee
proposes simplifying the language
related to exemption (b)(3) of the FOIA,
5 U.S.C. 552(b)(3), to incorporate rather
than repeat the statutory language. In
addition, language restricting the
Committee’s use of exemption (b)(5) of
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5 U.S.C. 603.
3
84 FR 34261 (July 18, 2019). Pursuant to SBA
regulations, the asset size of a concern includes the
assets of the concern whose size is at issue and all
of its domestic and foreign affiliates. 13 CFR
121.103(a)(6).
the FOIA, 5 U.S.C. 552(b)(5), will be
moved from the introductory paragraph
of the exemptions section into the
section describing the specific
exemption, § 271.15(a)(5). The
Committee also proposes adding
clarifying information to § 271.15(b)
which discusses the circumstances
under which the Committee may make
a discretionary release of exempt
information. For example, the
Committee proposes moving language
currently in § 271.7(c), which permits
the Committee to make discretionary
disclosures of any material that is
exempt under FOIA, into § 271.15(b)(1).
The Committee also proposes adding
paragraph (b)(2) to explain that the
Committee’s prior release of particular
exempt information does not waive the
Committee’s ability to withhold similar
exempt information in response to the
same or a different request. Section
271.15(c) is mostly unchanged from the
current provision (§ 271.7(d)) regarding
delayed release of information.
§ 271.16 Fee Schedules; Waiver of
Fees
Proposed § 271.16 sets forth various
provisions relating to the fees applicable
to requests for records and also provides
the proposed fee schedule in a table.
The Committee proposes several
changes to the current fee provisions.
First, the Committee proposes adding
language to § 271.16(a) (currently
§ 271.9(a)) to emphasize that the fee
schedules will be applied in a manner
consistent with the limitations set forth
in 5 U.S.C. 552(a)(4)(A)(viii), which
reference the Committee’s compliance
with the response time limit and also
address unusual circumstances. Second,
the Committee proposes adding
§ 271.16(b) to address the definitions for
search time, direct costs, duplication,
and review, which have been modified
to provide greater clarity. Third, the
Committee proposes removing from
§ 271.16(c)(1) any reference to a dollar
threshold for when the Committee will
give advance notification of fees.
Fourth, proposed § 271.16(d) will define
the different categories of requesters,
which are currently found in § 271.2
(‘‘Definitions’’). The Committee believes
that these definitions are better grouped
in the fees section so that users only
have to reference a single section in
order to determine the fee category for
which they qualify. The proposal
updates the definitions for
‘‘representative of the news media,’’
‘‘educational institution,’’ and
‘‘noncommercial scientific institution’’
to be consistent with the FOIA and DOJ
guidance. The Committee will also set
out a fee schedule in chart form in place
of the current regulatory language so
that users can more easily determine
which fees apply. Finally, the
Committee proposes modifying
§ 271.16(g) (currently §271.9(f)) to
include DOJ guidance language
regarding the conditions for a waiver or
reduction of fees.
C. Subpart C—Subpoenas, Orders
Compelling Production, and Other
Process
Subpart C sets forth the procedures
with respect to subpoenas, orders
compelling productions, and other
process.
§ 271.20 Subpoenas, Orders
Compelling Production, and Other
Process
Information addressing the actions
required of any individual who is
served with a subpoena, order, or other
judicial or administrative process
requiring production of exempt
information of the Committee is
currently in § 271.8. The Committee
proposes moving this section into newly
created subpart C under § 271.20. The
Committee proposes minor clarifying
revisions to this section in order to
update the process to conform to current
Committee practice. The Committee also
proposes adding language to make clear
that the Committee does not expect
parties to defy court orders where the
Committee has had an opportunity to
appear and oppose disclosure of its
information.
III. Administrative Law Matters
Regulatory Flexibility Act
In accordance with the Regulatory
Flexibility Act (RFA), 5 U.S.C. 601 et
seq., the Committee is publishing an
initial regulatory flexibility analysis
(‘‘IRFA’’) of the proposal.
2
The RFA
generally requires each federal agency to
prepare an IRFA in connection with the
promulgation of a proposed rule or
certify that the proposed rule will not
have a significant economic impact on
a substantial number of small entities.
Under regulations issued by the Small
Business Administration (‘‘SBA’’), a
small entity includes a depository
institution, bank holding company, or
savings and loan holding company with
average total assets of $600 million or
less and trust companies with average
total assets of $41.5 million or less.
3
Based on the Committee’s analysis,
and for the reasons stated below, the
Committee believes that this proposed
rule will not have a significant
economic impact on a substantial
number of small entities. The
Committee will, if necessary, conduct a
final regulatory flexibility analysis after
consideration of comments received
during the public comment period.
1. Statement of the need for, and
objectives of, the proposed rule. The
proposed rule updates the procedures
for requesting access to documents that
are records of the Committee under the
FOIA, which authorizes the release of
information. Specifically, the
amendments clarify and update the
Committee’s regulations implementing
the FOIA by streamlining its regulations
and incorporating guidance from the
DOJ.
2. Small entities affected by the
proposed rule. Like the Committee’s
current part 271 regulation, the
requirements set forth in the proposed
rule with respect to requests for
Committee records under the FOIA
apply equally to all persons and to all
entities regardless of their size. The
proposal, which in part introduces
organizational changes to clarify the
Committee’s FOIA regulation, does not
impose economic effects on FOIA
requesters, including any FOIA
requesters that would be small entities.
Notably, under the FOIA, fees for
processing FOIA requests must be
limited to reasonable standard charges.
3. Recordkeeping, reporting, and
compliance requirements. The proposal
does not impose any reporting,
recordkeeping, or other compliance
requirements on persons or entities,
including small entities. The proposed
rule only makes technical changes to the
process for requesting Committee
information. This streamlining does not
materially affect any reporting
requirements associated with how the
Committee processes FOIA requests. For
these reasons, the proposal does not
impose any reporting, recordkeeping, or
other compliance requirements on
persons or entities, including small
entities.
4. Other Federal rules. The Committee
does not believe that the proposal
duplicates, overlaps, or conflicts with
any other Federal rules.
5. Significant alternatives to the
proposed revisions. The Committee does
not believe that there are other
significant alternatives to the proposed
rule which accomplish its stated
objectives.
Paperwork Reduction Act
There is no collection of information
required by this proposal that would be
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subject to the Paperwork Reduction Act
of 1995, 44 U.S.C. 3501 et seq.
Plain Language
Section 722 of the Gramm-Leach-
Bliley Act requires each federal banking
agency to use plain language in all rules
published after January 1, 2000. In light
of this requirement, the Committee
believes this proposal is presented in a
simple and straightforward manner and
is consistent with this ‘‘plain language’’
directive.
List of Subjects in 12 CFR Part 271
Federal Open Market Committee,
Freedom of information.
Authority and Issuance
For the reasons set forth in the
SUPPLEMENTARY INFORMATION
, the
Federal Open Market Committee
proposes to revise 12 CFR part 271 to
read as follows:
PART 271—RULES REGARDING
AVAILABILITY OF INFORMATION
Subpart A—General
Sec.
271.1 Authority, purpose, and scope.
271.2 Definitions.
271.3 Certification of record; service of
subpoenas or other process.
271.4 Prohibition against disclosure.
Subpart B—Published Information and
Records Available to Public; Procedures for
Requests
271.10 Published information.
271.11 Records available to the public upon
request.
271.12 Processing requests.
271.13 Responses to requests.
271.14 Appeals.
271.15 Exemptions from disclosure.
271.16 Fee schedules; waiver of fees.
Subpart C—Subpoenas, Orders Compelling
Production, and Other Process
271.20 Subpoenas, orders compelling
production, and other process.
Authority: 5 U.S.C. 552; 12 U.S.C. 263.
Subpart A—General
§ 271.1 Authority, purpose, and scope.
(a) Authority and purpose. This part
establishes mechanisms for carrying out
the Federal Open Market Committee’s
(Committee) statutory responsibilities
relating to the disclosure, production, or
withholding of information. In this
regard, the Committee has determined
that the Committee, or its delegees, may
disclose exempt information of the
Committee, in accordance with the
procedures set forth in this part,
whenever it is necessary or appropriate
to do so in the exercise of any of the
Committee’s authorities, including but
not limited to authority granted to the
Committee in the Freedom of
Information Act, 5 U.S.C. 552, and
section 12A of the Federal Reserve Act,
12 U.S.C. 263. The Committee has
determined that all such disclosures
made in accordance with the rules and
procedures specified in this part are
authorized by law. This part also sets
forth the categories of information made
available to the public, the procedures
for obtaining information and records,
the procedures for limited release of
exempt information, and the procedures
for protecting confidential business
information.
(b) Scope. (1) Subpart A of this part
contains general provisions and
definitions of terms used in this part.
(2) Subpart B of this part implements
the Freedom of Information Act (FOIA)
(5 U.S.C. 552).
(3) Subpart C of this part sets forth the
procedures with respect to subpoenas,
orders compelling production, and other
process.
§ 271.2 Definitions.
For purposes of this part:
(a) Board means the Board of
Governors of the Federal Reserve
System established by the Federal
Reserve Act of 1913 (38 Stat. 251).
(b) Committee means the Chairman of
the Committee or the Chairman’s
designee.
(c) Exempt information means
information that is exempt from
disclosure pursuant to § 271.15(a).
(d) Federal Reserve Bank or Reserve
Bank means one of the District Banks
authorized by the Federal Reserve Act,
12 U.S.C. 222, including any branch of
any such bank.
(e) Records of the Committee or
Committee records include all
information coming into the possession
of the Committee or any member thereof
or of any officer, employee, or agent of
the Committee, the Board, or any
Federal Reserve Bank, in the
performance of duties for, or pursuant to
the direction of, the Committee. These
records include rules, statements,
decisions, minutes, memoranda, letters,
reports, transcripts, accounts, charts,
and other written material.
(f)(1) Search means a reasonable
search of such records of the Committee
as seem likely in the particular
circumstances to contain information of
the kind requested.
(2) As part of the Committee’s search
for responsive records, the Committee is
not obligated to conduct any research,
create any document, or modify an
electronic program or automated
information system.
(g) Working day means any day except
Saturday, Sunday, or a legal Federal
holiday.
§ 271.3 Certification of record; service of
subpoenas or other process.
(a) Certification of record. The
secretary of the Committee may certify
the authenticity of any Committee
record, or any copy of such record, for
any purpose, and for or before any duly
constituted Federal or state court,
tribunal, or agency.
(b) Service of subpoenas or other
process. Subpoenas or other judicial or
administrative process demanding
access to any Committee records or
making any claim against the Committee
or against Committee members or staff
in their official capacity shall be
addressed to and served upon the
Secretary of the Committee, Federal
Open Market Committee, 20th Street &
Constitution Avenue NW, Washington,
DC 20551. The Committee does not
accept service of process on behalf of
any employee in respect of purely
private legal disputes.
§ 271.4 Prohibition against disclosure.
Except as provided in this part or as
otherwise authorized, no officer,
employee, or agent of the Board or any
Reserve Bank shall disclose or permit
the disclosure of any exempt
information of the Committee to any
person other than Board or Reserve
Bank officers, employees, or agents
properly entitled to such information in
the performance of duties for, or
pursuant to the direction of, the
Committee.
Subpart B—Published Information and
Records Available to Public;
Procedures for Requests
§ 271.10 Published information.
(a) Federal Register. The Committee
publishes, or incorporates by reference,
in the Federal Register for the guidance
of the public:
(1) A description of its organization;
(2) Statements of the general course
and method by which its functions are
channeled and determined, including
the nature and requirements of
procedures;
(3) Rules of procedure;
(4) Substantive rules, interpretations
of general applicability, and statements
of general policy formulated and
adopted by the Committee;
(5) Every amendment, revision, or
repeal of the foregoing in paragraphs
(a)(1) through (4) of this section; and
(6) Other notices as required by law.
(b) Publicly available information—(1)
Electronic reading room. Information
relating to the Committee, including its
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open market operations, is made
publicly available on the websites of the
Board and the Federal Reserve Banks, as
well as in the Committee’s electronic
reading room, https://
www.federalreserve.gov/foia/fomc/
readingrooms.htm#rr1. The Committee
also makes the following records
available in its electronic reading room.
(i) Final opinions, including
concurring and dissenting opinions, as
well as final orders and written
agreements, made in the adjudication of
cases.
(ii) Statements of policy and
interpretations adopted by the
Committee that are not published in the
Federal Register.
(iii) Administrative staff manuals and
instructions to staff that affect the
public.
(iv) Copies of all records, regardless of
form or format—
(A) That have been released to any
person under § 271.11; and
(B)(1) That because of the nature of
their subject matter, the Committee has
determined have become or are likely to
become the subject of subsequent
requests for substantially the same
records; or
(2) That have been requested three or
more times.
(v) A general index of the records
referred to in paragraph (b)(1)(iv) of this
section.
(2) Inspection in electronic format at
Reserve Banks. The Committee may
determine that certain classes of
publicly available filings shall be made
available for inspection in electronic
format only at the Reserve Bank where
those records are filed.
(3) Privacy protection. The Committee
may delete identifying details from any
public record to prevent a clearly
unwarranted invasion of personal
privacy.
§ 271.11 Records available to the public
upon request.
(a) Procedures for requesting records.
(1) Requesters are encouraged to submit
requests electronically using the online
request form located at
www.federalreserve.gov/secure/forms/
FOMCForm.aspx. Alternatively,
requests may be submitted in writing to
the Secretary of the Committee, Federal
Open Market Committee, 20th Street
and Constitution Avenue NW,
Washington, DC 20551; or sent by
facsimile to the Secretary of the
Committee, (202) 452–2921. Clearly
mark the request FREEDOM OF
INFORMATION ACT REQUEST.
(2) A request may not be combined
with any other request or FOIA appeal.
(b) Contents of request. A request
must include:
(1) The requester’s name, address,
daytime telephone number, and an
email address if available.
(2) A description of the records that
enables the Committee to identify and
produce the records with reasonable
effort and without unduly burdening or
significantly interfering with any of the
Committee’s operations. Whenever
possible, the request should include
specific information about each record
sought, such as the date, title or name,
author, recipient, and subject matter of
the record.
(3) A statement agreeing to pay the
applicable fees. If the information
requested is not intended for a
commercial use (as defined in
§ 271.16(d)(1)) and the requester seeks a
reduction or waiver of fees because he
or she is either a representative of the
news media, an educational institution,
or a noncommercial scientific
institution, the requester should include
the information called for in
§ 271.16(g)(2).
(c) Perfected and defective requests.
(1) The Committee will consider the
request to be perfected on the date the
secretary of the Committee receives a
request that contains all of the
information required by paragraphs
(b)(1) through (3) of this section.
(2) The Committee need not accept or
process a request that does not
reasonably describe the records
requested or that does not otherwise
comply with the requirements of this
section.
(3) The Committee may return a
defective request, specifying the
deficiency. The requester may submit a
corrected request, which will be treated
as a new request.
§ 271.12 Processing requests.
(a) Receipt of requests. Upon receipt
of any request that satisfies the
requirements set forth in § 271.11, the
Committee shall assign the request to
the appropriate processing schedule,
pursuant to paragraph (b) of this section.
The date of receipt for any request,
including one that is addressed
incorrectly or that is referred to the
Committee by another agency or by a
Federal Reserve Bank, is the date the
secretary of the Committee actually
receives the request.
(b) Multitrack processing. (1) The
Committee provides different levels of
processing for categories of requests
under this section.
(i) Requests for records that are
readily identifiable by the Committee
and that have already been cleared for
public release or can easily be cleared
for public release may qualify for simple
processing.
(ii) All other requests shall be handled
under normal processing procedures,
unless expedited processing has been
granted pursuant to paragraph (c) of this
section.
(2) The Committee will make the
determination whether a request
qualifies for simple processing. A
requester may contact the Committee to
learn whether a particular request has
been assigned to simple processing. If
the request has not qualified for simple
processing, the requester may limit the
scope of the request in order to qualify
for simple processing by contacting the
Committee in writing, by letter or email,
or by telephone.
(c) Expedited processing. (1) A request
for expedited processing may be made
at any time. A request for expedited
processing must be clearly labeled
‘‘Expedited Processing Requested.’’ The
Committee will process requests and
appeals on an expedited basis whenever
it is determined that they involve:
(i) Circumstances in which the lack of
expedited processing could reasonably
be expected to pose an imminent threat
to the life or physical safety of an
individual; or
(ii) An urgency to inform the public
about an actual or alleged Federal
Government activity, if made by a
person who is primarily engaged in
disseminating information.
(2) A requester who seeks expedited
processing must submit a statement,
certified to be true and correct,
explaining in detail the basis for making
the request for expedited processing.
For example, under paragraph (c)(1)(ii)
of this section, a requester who is not a
full-time member of the news media
must establish that the requester is a
person whose primary professional
activity or occupation is information
dissemination, though it need not be the
requester’s sole occupation. Such a
requester also must establish a
particular urgency to inform the public
about the Government activity involved
in the request—one that extends beyond
the public’s right to know about Federal
Government activity generally. The
existence of numerous articles
published on a given subject can be
helpful in establishing the requirement
that there be an ‘‘urgency to inform’’ the
public on the topic. As a matter of
administrative discretion, the
Committee may waive the formal
certification requirement.
(3) Within 10 calendar days of receipt
of a request for expedited processing,
the Committee will notify the requester
of its decision on the request. A denial
of expedited processing may be
appealed to the Committee in
accordance with § 271.14. The
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Committee will respond to the appeal
within 10 working days of receipt of the
appeal.
(d) Priority of responses. The
Committee will normally process
requests in the order they are received
in the separate processing tracks, except
when expedited processing is granted in
which case the request will be
processed as soon as practicable.
(e) Time limits. The time for response
to requests shall be 20 working days
from when a request is perfected.
Exceptions to the 20-day time limit are
only as follows:
(1) In the case of expedited treatment
under paragraph (c) of this section, the
Committee shall give the expedited
request priority over non-expedited
requests and shall process the expedited
request as soon as practicable.
(2) Where the running of such time is
suspended for a requester to address fee
requirements pursuant to § 271.16(c)(1)
or (2).
(3) In unusual circumstances, as
defined in 5 U.S.C. 552(a)(6)(B), the
Committee may:
(i) Extend the 20-day time limit for a
period of time not to exceed 10 working
days, where the Committee has
provided written notice to the requester
setting forth the reasons for the
extension and the date on which a
determination is expected to be
dispatched; and
(ii) Extend the 20-day time limit for a
period of more than 10 working days
where the Committee has provided the
requester with an opportunity to modify
the scope of the FOIA request so that it
can be processed within that time frame
or with an opportunity to arrange an
alternative time frame for processing the
original request or a modified request,
and has notified the requester that the
Committee’s FOIA Public Liaison is
available to assist the requester for
purposes of this paragraph (e)(3)(ii) and
in the resolution of any disputes
between the requester and the
Committee, and of the requester’s right
to seek dispute resolution services from
the Office of Government Information
Services.
§ 271.13 Responses to requests.
(a) When the Committee receives a
perfected request, it will conduct a
reasonable search of Committee records
in its possession on the date the
Committee’s search begins and will
review any responsive information it
locates.
(b) If a request covers documents that
were created by, obtained from, or
classified by another agency, the
Committee may refer the request for
such documents to that agency for a
response and inform the requester
promptly of the referral. To the extent
there is confidential supervisory
information, as that term is defined by
12 CFR 261.2(b), contained within
Committee records, disclosure of such
information will be handled in
consultation with the Board.
(c) In responding to a request, the
Committee will withhold information
under this section only if—
(1) The Committee reasonably
foresees that disclosure would harm an
interest protected by an exemption
described in § 271.15(a); or
(2) Disclosure is prohibited by law.
(d) The Committee will take
reasonable steps necessary to segregate
and release nonexempt information.
(e) The Committee shall notify the
requester of:
(1) The Committee’s determination of
the request;
(2) The reasons for the determination;
(3) An estimate of the amount of
information withheld, if any. An
estimate is not required if the amount of
information is otherwise indicated by
deletions marked on records that are
disclosed in part or if providing an
estimate would harm an interest
protected by an applicable exemption;
(4) The right of the requester to seek
assistance from the Committee’s FOIA
Public Liaison; and
(5) When an adverse determination is
made, the Committee will advise the
requester in writing of that
determination and will further advise
the requester of:
(i) The right of the requester to appeal
any adverse determination within 90
calendar days after the date of the
determination, as specified in § 271.14;
(ii) The right of the requester to seek
dispute resolution services from the
Committee’s FOIA Public Liaison or
from the Office of Government
Information Services; and
(iii) The name and title or position of
the person responsible for the adverse
determination.
(f) Adverse determinations, or denials
of requests, include decisions that the
requested record is exempt, in whole or
in part; the request does not reasonably
describe the records sought; the
information requested is not a record
subject to the FOIA; the requested
record does not exist, cannot be located,
or has been destroyed; or the requested
record is not readily reproducible in the
form or format sought by the requester.
Adverse determinations also include
denials involving fees or fee waiver
matters or denials of requests for
expedited treatment.
(g) The Committee will normally send
responsive, nonexempt documents to
the requester by email but may use other
means as arranged between the
Committee and the requester or as
determined by the Committee. The
Committee will attempt to provide
records in the format requested by the
requester.
§ 271.14 Appeals.
(a) If the Committee makes an adverse
determination as defined in § 271.13(f),
the requester may file a written appeal
with the Committee, as follows:
(1) The appeal should prominently
display the phrase FREEDOM OF
INFORMATION ACT APPEAL on the
first page, and shall be sent directly to
FOMC-FOIA-Mailbox@frb.gov or, if sent
by mail, addressed to the Secretary of
the Committee, Federal Open Market
Committee, 20th Street and Constitution
Avenue NW Washington, DC 20551; or
sent by facsimile to the Secretary of the
Committee, (202) 452–2921. If the
requester is appealing the denial of
expedited treatment, the appeal should
clearly be labeled ‘‘Appeal for
Expedited Processing.’’
(2) A request for records under
§ 271.11 may not be combined in the
same letter with an appeal.
(3) To be considered timely, an appeal
must be postmarked, or in the case of
electronic submissions, transmitted,
within 90 calendar days after the date of
the adverse determination.
(b) Except as provided in
§ 271.12(c)(3), the Committee shall make
a determination regarding any appeal
within 20 working days of actual receipt
of the appeal by the Committee. If an
adverse determination is upheld on
appeal, in whole or in part, the
determination letter shall notify the
appealing party of the right to seek
judicial review and of the availability of
dispute resolution services from the
Office of Government Information
Services as a non-exclusive alternative
to litigation.
(c) The Committee may reconsider an
adverse determination, including one on
appeal, if intervening circumstances or
additional facts not known at the time
of the adverse determination come to
the attention of the Committee.
§ 271.15 Exemptions from disclosure.
(a) Types of records exempt from
disclosure. Pursuant to 5 U.S.C. 552(b),
the following records of the Committee
are exempt from disclosure under this
part.
(1) Any information that is
specifically authorized under criteria
established by an Executive order to be
kept secret in the interest of national
defense or foreign policy and is in fact
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properly classified pursuant to the
Executive order.
(2) Any information related solely to
the internal personnel rules and
practices of the Committee.
(3) Any information specifically
exempted from disclosure by statute to
the extent required by 5 U.S.C.
552(b)(3).
(4) Any matter that is a trade secret or
that constitutes commercial or financial
information obtained from a person and
that is privileged or confidential.
(5) Inter- or intra-agency
memorandums or letters that would not
be available by law to a party other than
an agency in litigation with the
Committee, provided that the
deliberative process privilege shall not
apply to records that were created 25
years or more before the date on which
the records were requested.
(6) Any information contained in
personnel and medical files and similar
files the disclosure of which would
constitute a clearly unwarranted
invasion of personal privacy.
(7) Any records or information
compiled for law enforcement purposes,
to the extent permitted under 5 U.S.C.
552(b)(7).
(8) Any matter that is contained in or
related to examination, operating, or
condition reports prepared by, on behalf
of, or for the use of an agency
responsible for the regulation or
supervision of financial institutions,
including a state financial institution
supervisory agency.
(b) Release of exempt information. (1)
Except where disclosure is expressly
prohibited by statute, regulation, or
order, the Committee may release
records that are exempt from mandatory
disclosure whenever the Committee
determines that such disclosure would
be in the public interest.
(2) The fact that the Committee has
determined to release particular exempt
information does not waive the
Committee’s ability to withhold similar
exempt information in response to the
same or a different request.
(c) Delayed release. Except as
required by law, publication in the
Federal Register or availability to the
public of certain information may be
delayed if immediate disclosure would
likely:
(1) Interfere with accomplishing the
objectives of the Committee in the
discharge of its statutory functions;
(2) Interfere with the orderly conduct
of the foreign affairs of the United
States;
(3) Permit speculators or others to
gain unfair profits or other unfair
advantages by speculative trading in
securities or otherwise;
(4) Result in unnecessary or
unwarranted disturbances in the
securities markets;
(5) Interfere with the orderly
execution of the objectives or policies of
other Government agencies; or
(6) Impair the ability to negotiate any
contract or otherwise harm the
commercial or financial interest of the
United States, the Committee, any
Federal Reserve Bank, or any
department or agency of the United
States.
§ 271.16 Fee schedules; waiver of fees.
(a) Fee schedules. Consistent with the
limitations set forth in 5 U.S.C.
552(a)(4)(A)(viii), the fees applicable to
a request for records pursuant to
§ 271.11 are set forth in table 1 to this
section. These fees cover only the full
allowable direct costs of search,
duplication, and review. No fees will be
charged where the average cost of
collecting the fee (calculated at $5.00)
exceeds the amount of the fee.
(b) For purposes of computing fees. (1)
Search time includes all time spent
looking for material that is responsive to
a request, including line-by-line
identification of material within
documents. Such activity is distinct
from ‘‘review’’ of material to determine
whether the material is exempt from
disclosure.
(2) Direct costs mean those
expenditures that the Committee
actually incurs in searching for,
reviewing, and duplicating records in
response to a request made under
§ 271.11, as shown in table 1 to this
section.
(3) Duplication refers to the process of
making a copy, in any format, of a
document.
(4) Review refers to the process of
examining documents that have been
located as being potentially responsive
to a request for records to determine
whether any portion of a document is
exempt from disclosure. It includes
doing all that is necessary to prepare the
documents for release, including the
redaction of exempt information. It does
not include time spent resolving general
legal or policy issues regarding the
application of exemptions.
(c) Payment procedures. The
Committee may assume that a person
requesting records pursuant to § 271.11
will pay the applicable fees, unless the
request includes a limitation on fees to
be paid or seeks a waiver or reduction
of fees pursuant to paragraph (g) of this
section.
(1) Advance notification of fees. If the
estimated charges are likely to exceed
the amount authorized by the requester,
the secretary of the Committee shall
notify the requester of the estimated
amount. Upon receipt of such notice,
the requester may confer with the
secretary of the Committee to
reformulate the request to lower the
costs or may authorize a higher amount.
The time period for responding to
requests under § 271.12(e) and the
processing of the request will be
suspended until the requester agrees in
writing to pay the applicable fees.
(2) Advance payment. The Committee
may require advance payment of any fee
estimated to exceed $250. The
Committee may also require full
payment in advance where a requester
has previously failed to pay a fee in a
timely fashion. The time period for
responding to a request under
§ 271.12(e), and the processing of the
request shall be suspended until the
Committee receives the required
payment.
(3) Late charges. The Committee may
assess interest charges when fee
payment is not made within 30 days of
the date on which the billing was sent.
Interest is at the rate prescribed in 31
U.S.C. 3717 and accrues from the date
of the billing.
(d) Categories of uses. The fees
assessed depend upon the intended use
for the records requested. In
determining which category is
appropriate, the Committee will look to
the intended use set forth in the request
for records. Where a requester’s
description of the use is insufficient to
make a determination, the Committee
may seek additional clarification before
categorizing the request.
(1) A commercial use requester is one
who requests records for a use or
purpose that furthers the commercial,
trade, or profit interests of the requester
or the person on whose behalf the
request is made, which can include
furthering those interests through
litigation.
(2) Representative of the news media
is any person or entity that gathers
information of potential interest to a
segment of the public, uses its editorial
skills to turn the raw materials into a
distinct work, and distributes that work
to an audience, including organizations
that disseminate solely on the internet.
The term ‘‘news’’ means information
that is about current events or that
would be of current interest to the
public. A non-affiliated journalist who
demonstrates a solid basis for expecting
publication through a news media
entity, such as a publishing contract or
past publication record, will be
considered as a representative of the
news media.
(3) Educational institution is any
school that operates a program of
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scholarly research. A requester in this
fee category must show that the request
is made in connection with his or her
role at the educational institution. The
Committee may seek verification from
the requester that the request is in
furtherance of scholarly research.
(1) Noncommercial scientific
institution is an institution that is not
operated on a ‘‘commercial’’ basis, as
defined in paragraph (d)(1) of this
section, and that is operated solely for
the purpose of conducting scientific
research the results of which are not
intended to promote any particular
product or industry. A requester in this
category must show that the request is
authorized by and is made under the
auspices of a qualifying institution and
that the records are sought to further
scientific research and are not for a
commercial use.
(2) Please refer to table 1 to this
section to determine what fees apply for
different categories of users.
(e) Nonproductive search. Fees for
search and review may be charged even
if no responsive documents are located
or if the request is denied.
(f) Aggregated requests. A requester
may not file multiple requests at the
same time, solely in order to avoid
payment of fees. If the Committee
reasonably believes that a requester is
separating a single request into a series
of requests for the purpose of evading
the assessment of fees, the Committee
may aggregate any such requests and
charge accordingly. It is considered
reasonable for the Committee to
presume that multiple requests of this
type made within a 30-day period have
been made to avoid fees.
(g) Waiver or reduction of fees. A
request for a waiver or reduction of the
fees, and the justification for the waiver,
shall be included with the request for
records to which it pertains. If a waiver
is requested and the requester has not
indicated in writing an agreement to pay
the applicable fees if the waiver request
is denied, the time for response to the
request for documents, as set forth in
§ 271.12(e), shall not begin until either
a waiver has been granted or, if the
waiver is denied, until the requester has
agreed to pay the applicable fees.
(1) The Committee shall grant a
waiver or reduction of fees where it is
determined both that disclosure of the
information is in the public interest
because it is likely to contribute
significantly to public understanding of
the operation or activities of the
government, and that the disclosure of
information is not primarily in the
commercial interest of the requester. In
making this determination, the
Committee will consider the following
factors:
(i) Whether the subject of the records
would shed light on identifiable
operations or activities of the
Government with a connection that is
direct and clear, not remote or
attenuated; and
(ii) Whether disclosure of the
information is likely to contribute
significantly to public understanding of
those operations or activities. This
factor is satisfied when the following
criteria are met:
(A) Disclosure of the requested
records must be meaningfully
informative about Government
operations or activities. The disclosure
of information that already is in the
public domain, in either the same or a
substantially identical form, would not
be meaningfully informative if nothing
new would be added to the public’s
understanding.
(B) The disclosure must contribute to
the understanding of a reasonably broad
audience of persons interested in the
subject, as opposed to the individual
understanding of the requester. A
requester’s expertise in the subject area
as well as the requester’s ability and
intention to effectively convey
information to the public must be
considered. The Committee will
presume that a representative of the
news media will satisfy this
consideration.
(iii) The disclosure must not be
primarily in the commercial interest of
the requester. A commercial interest
includes any commercial, trade, profit,
or litigation interest.
(2) A request for a waiver or reduction
of fees shall include:
(i) A clear statement of the requester’s
interest in the documents;
(ii) The use proposed for the
documents and whether the requester
will derive income or other benefit for
such use;
(iii) A statement of how the public
will benefit from such use and from the
Committee’s release of the documents;
(iv) A description of the method by
which the information will be
disseminated to the public; and
(v) If specialized use of the
information is contemplated, a
statement of the requester’s
qualifications that are relevant to that
use.
(3) The requester has the burden to
present evidence or information in
support of a request for a waiver or
reduction of fees.
(4) The Committee shall notify the
requester of its determination on the
request for a waiver or reduction of fees.
The requester may appeal a denial in
accordance with § 271.14(a).
(5) Where only some of the records to
be released satisfy the requirements for
a waiver of fees, a waiver must be
granted for those records.
(6) A request for a waiver or reduction
of fees should be made when the request
for records is first submitted to the
Committee and should address the
criteria referenced in paragraphs (g)(1)
through (5) of this section. A requester
may submit a fee waiver request at a
later time so long as the underlying
record request is pending or on
administrative appeal. When a requester
who has committed to pay fees
subsequently asks for a waiver of those
fees and that waiver is denied, the
requester must pay any costs incurred
up to the date the fee waiver request
was received.
(h) Restrictions on charging fees. (1) If
the Committee fails to comply with the
FOIA’s time limits in which to respond
to a request, the Committee may not
charge search fees, or, in the instances
of requests from requesters described in
paragraphs (d)(2) through (4) of this
section, will not charge duplication fees,
except as permitted under paragraphs
(h)(2) through (4) of this section.
(2) If the Committee has determined
that unusual circumstances exist, as
described in 5 U.S.C. 552(a)(6)(B), and
has provided timely written notice to
the requester and subsequently
responds within the additional 10
working days provided in § 271.12(e)(3),
the Committee may charge search fees,
or in the case of requesters described in
paragraphs (d)(2) through (4) of this
section, may charge duplication fees.
(3) If the Committee has determined
that unusual circumstances exist, as
described in 5 U.S.C. 552(a)(6)(B), and
more than 5,000 pages are necessary to
respond to the request, the Committee
may charge search fees, or, in the case
of requesters described in paragraphs
(d)(2) through (4) of this section, may
charge duplication fees, if the
Committee has:
(i) Provided timely written notice of
unusual circumstances to the requester
in accordance with the FOIA; and
(ii) Discussed with the requester via
written mail, email, or telephone (or
made not less than three good-faith
attempts to do so) how the requester
could effectively limit the scope of the
request in accordance with 5 U.S.C.
552(a)(6)(B)(ii).
(4) If a court has determined that
exceptional circumstances exist, as
defined by the FOIA, a failure to comply
with the time limits shall be excused for
the length of time provided by the court
order.
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(i) Employee requests. In connection
with any request by an employee,
former employee, or applicant for
employment, for records for use in
prosecuting a grievance or complaint of
discrimination against the Committee,
fees shall be waived where the total
charges (including charges for
information provided under the Privacy
Act of 1974 (5 U.S.C. 552a)) are $50 or
less; but the Committee may waive fees
in excess of that amount.
(j) Special services. The Committee
may agree to provide, and set fees to
recover the costs of, special services not
covered by the FOIA, such as certifying
records or information and sending
records by special methods such as
express mail or overnight delivery.
T
ABLE
1
TO
§ 271.16—F
EES
Type of requester Search costs per hour Review costs per hour Duplication costs
Commercial .................................... Clerical/Technical staff $20 .......... Clerical/Technical staff $20 .......... Photocopy per standard page .10.
Professional/Supervisory staff $40 Professional/Supervisory staff $40 Other types of duplication Direct
Costs.
Manager/Senior professional staff
$65. Manager/Senior professional staff
$65.
Computer search, including com-
puter search time, output, oper-
ator’s salary Direct Costs.
Educational; or Non-commercial
scientific; or News media. Costs waived ................................ Costs waived ................................ First 100 pages free, then:
....................................................... ....................................................... Photocopy per standard page .10.
....................................................... ....................................................... Other types of duplication Direct
Costs.
All other requesters ....................... First 2 hours free, then: ................ Costs waived ................................ First 100 pages free, then:
Clerical/Technical staff $20 .......... ....................................................... Photocopy per standard page .10.
Professional/Supervisory staff $40 ....................................................... Other types of duplication Direct
Costs.
Manager/Senior professional staff
$65.
Computer search, including com-
puter search time, output, oper-
ator’s salary Direct Costs.
Subpart C—Subpoenas, Orders
Compelling Production, and Other
Process
§ 271.20 Subpoenas, orders compelling
production, and other process.
(a) Advice by person served. Any
person, whether or not an officer or
employee of the Committee, of the
Board, or of a Federal Reserve Bank,
who is served with a subpoena, order,
or other judicial or administrative
process requiring the production of
exempt information of the Committee or
requiring the person’s testimony
regarding such Committee information
in any proceeding, shall:
(1) Promptly inform the Committee’s
General Counsel of the service and all
relevant facts, including the documents,
information, or testimony demanded,
and any facts relevant to the Committee
in determining whether the material
requested should be made available;
(2) Inform the entity issuing the
process of the substance of this part; and
(3) At the appropriate time, inform the
court or tribunal that issued the process
of the substance of this part.
(b) Appearance by person served.
Unless authorized by the Committee or
as ordered by a Federal court in a
judicial proceeding in which the
Committee has had the opportunity to
appear and oppose discovery, any
person who is required to respond to a
subpoena or other legal process
concerning exempt Committee
information shall attend at the time and
place required and respectfully decline
to disclose or to give any testimony with
respect to the information, basing such
refusal upon the provisions of this part.
If the court or other body orders the
disclosure of the information or the
giving of testimony, the person having
the information shall continue to
decline to disclose such information
and shall promptly report the facts to
the Committee for such action as the
Committee may deem appropriate.
Federal Open Market Committee.
Matthew M. Luecke,
Deputy Secretary of the Committee.
[FR Doc. 2020–22463 Filed 10–14–20; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Parts 303 and 390
RIN 3064–AF36
Removal of Transferred OTS
Regulations Regarding Application
Processing Procedures of State
Savings Associations
AGENCY
: Federal Deposit Insurance
Corporation (FDIC).
ACTION
: Notice of proposed rulemaking.
SUMMARY
: In this notice of proposed
rulemaking (NPR), the Federal Deposit
Insurance Corporation (FDIC) proposes
to rescind and remove certain
regulations transferred to the FDIC from
the Office of Thrift Supervision (OTS) in
2011 pursuant to the Dodd-Frank Wall
Street Reform and Consumer Protection
Act (Dodd-Frank Act). These regulations
generally concern the supervision and
governance of State savings
associations, including the application
processing procedures for certain
applications, notices and filings by State
savings associations. In addition to the
removal of our regulations, the FDIC
proposes to make technical changes to
our regulations that do not currently
apply to State savings associations.
Following the rescission, the filing
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jbell on DSKJLSW7X2PROD with PROPOSALS
