Removal of Transferred OTS Regulations Regarding Recordkeeping and Confirmation Requirements for Securities Transactions Effected by State Savings Associations and Other Amendments

The Federal Deposit Insurance Corporation ("FDIC") is adopting a final rule ("Final Rule") to rescind and remove a regulation entitled "Recordkeeping and Confirmation Requirements for Securities Transactions," and to amend another regulation also entitled "Recordkeeping and Confirmation Requirements for Securities Transactions." The rescinded regulation was one of several rules transferred to the FDIC following dissolution of the former Office of Thrift Supervision ("OTS") in connection with the implementation of applicable provisions of Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"). The Dodd-Frank Act provided that the former OTS rules that were transferred to the FDIC would be enforceable by or against the FDIC until they were modified, terminated, set aside, or superseded in accordance with applicable law by the FDIC, by any court of competent jurisdiction, or by operation of law. The FDIC received no comments on the Proposed Rule and consequently is adopting the Final Rule as proposed in the NPR without change. As a result, the recordkeeping and confirmation requirements for securities transactions effected on behalf of customers by all FDIC-supervised institutions will be found at the existing regulation entitled "Recordkeeping and Confirmation Requirements for Securities Transactions.".