The proposed amendment will update the version of the Federal Deposit Insurance Corporation, DSC Risk Management Manual of Examination Policies that is incorporated by reference in this rule.

 

DEPARTMENT OF FINANCIAL SERVICES

FSC - Financial Institution Regulation

RULE NO.:RULE TITLE:

69U-100.045Examination Manuals and Referenced Standards

PURPOSE AND EFFECT: The proposed amendment will update the version of the Federal Deposit Insurance Corporation, DSC Risk Management Manual of Examination Policies that is incorporated by reference in this rule.

SUMMARY: See above. The amendment updates the rule to incorporate the current version of the Federal Deposit Insurance Corporation, DSC Risk Management Manual of Examination Policies by reference.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION: The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: The Agency expressly relies on an analysis of potential economic impact conducted by persons with subject matter knowledge of this rule.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 655.012(2) FS.

LAW IMPLEMENTED: 655.045 FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Leslie Bryson, Assistant General Counsel, Division of Financial Institutions, [phone], [e-mail]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69U-100.045 Examination Manuals and Referenced Standards.

The OFR uses the examination manuals referenced by this rule in the implementation of its examination responsibilities. The OFR examiners use these manuals as reference guidelines when conducting safety and soundness examinations of financial institutions. The material incorporated by reference in this rule may also be obtained from the Florida Office of Financial Regulation, Division of Financial Institutions’s website at http://www.flofr.com/StaticPages/DivisionOfFinancialInstitutions.htm. The following manuals are hereby incorporated by reference into the body of printed materials that the OFR uses for the purposes of conducting examinations of financial institutions to assess the performance and condition of such institutions:

(1) No change.

(2) Federal Deposit Insurance Corporation, DSC Risk Management Manual of Examination Policies (04/2015), (11/2014) accessible at https://www.flrules.org/gateway/reference.asp?No=Ref-_________ 05582.

(3) through (6) No change.

Rulemaking Authority 655.012(2) FS. Law Implemented 655.045 FS. History–New 10-24-93, Formerly 3C-1.015, Amended 1-2-95, 6-4-95, 5-22-96, Formerly 3C-100.045, Amended 9-2-10, 7-27-15, ________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Barry Gilman, Director, Division of Financial Institutions

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Financial Services Commission

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: September 1, 2015

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: August 17, 2015