The Federal Deposit Insurance Corporation (FDIC) published a notice of proposed rescission of a rule in the Federal Register on May 16, 1997, which proposed to rescind its regulation entitled ``Insured State Nonmember Banks Which Are Municipal Securities Dealers''. The regulation requires insured state nonmember banks which are municipal securities dealers to file with the FDIC certain information about those persons who are or seek to be associated with these dealers as municipal securities principals or municipal securities representatives. The FDIC has determined for a number of reasons, as set forth in the original notice and discussed in SUPPLEMENTARY INFORMATION, that the regulation is unnecessary and duplicative, and therefore, the FDIC is rescinding it.