[Federal Register Volume 62, Number 103 (Thursday, May 29, 1997)]
[Rules and Regulations]
[Pages 28982-28983]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-14037]
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DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
12 CFR Part 543
[No. 97-48]
RIN 1550-AA76
De Novo Applications for a Federal Savings Association Charter;
Correction
AGENCY: Office of Thrift Supervision, Treasury.
ACTION: Final rule; correction.
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SUMMARY: The Office of Thrift Supervision (OTS) is issuing a correction
to its final regulation on de novo applications for federal savings
association charters published on May 19, 1997 to remove a reference to
an OTS regulation that will expire on the day the final de novo
regulation becomes effective.
EFFECTIVE DATE: July 1, 1997.
FOR FURTHER INFORMATION CONTACT: Gary Masters, Financial Analyst,
Corporate Activities Division (202) 906-6729; Edward O'Connell, Project
Manager, Thrift Policy (202) 906-5694; Kevin Corcoran, Assistant Chief
Counsel, Business Transactions Division, Chief Counsel's Office (202)
906-6962; or Valerie J. Lithotomos, Counsel (Banking and Finance),
Regulations and Legislation Division, Chief Counsel's
[[Page 28983]]
Office, (202) 906-6439, Office of Thrift Supervision, 1700 G Street,
NW., Washington, D.C. 20552.
SUPPLEMENTARY INFORMATION: On May 19, 1997, the Office of Thrift
Supervision (OTS) published its final rule to revise and update its
treatment of de novo applications for federal savings association
charters.1 Effective July 1, 1997, new Sec. 543.3(c)(1)(v)
requires that business plans include a Community Reinvestment Act (CRA)
statement pursuant to 12 CFR Part 563e, and plans for meeting the
credit needs of the proposed de novo association's community.
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\1\ 62 FR 27177 (May 19, 1997).
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Section 563e.4 of OTS's CRA regulation outlines the components of a
CRA statement. However, Sec. 563e.4 expires on July 1, 1997 and should
not have been referenced in new Sec. 543.3(c)(1)(v). OTS is, therefore,
removing this reference and retaining the general requirement that
business plans contain the proposed de novo association's plans for
meeting the credit needs of its community.
In rule FR Doc. 97-12956, published on May 19, 1997 (62 FR 27177),
make the following correction.
Sec. 543.3 [Corrected]
On page 27180, in the second column, in Sec. 543.3(c)(1)(v), remove
the phrase ``A Community Reinvestment Act statement, pursuant to 12 CFR
part 563e, and plans'' and add in lieu thereof the word ``Plans''.
Dated: May 22, 1997.
By the Office of Thrift Supervision.
Mary H. Gottlieb,
Federal Register Liaison Officer.
[FR Doc. 97-14037 Filed 5-28-97; 8:45 am]
BILLING CODE 6720-01-P
