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The statute includes directives for specific regulatory tasks such as defining capital categories (“well capitalized,” “adequately capitalized,” etc.), setting leverage limits, risk-based capital requirements, and specifying levels for critical capital. Although the agencies have discretion, the statute directs them to address these particular areas of regulation.
The statute provides explicit direction to the appropriate federal banking agencies regarding accounting principles and reporting requirements. It clearly instructs agencies on specific regulatory tasks, such as reviewing accounting principles, modifying non-complying measures, and including off-balance-sheet items, all related to financial reporting by insured depository institutions. While terms like “appropriate” are used, the instructions are clearly targeted and directed.
12 U.S.C. § 1831n provides specific direction to the appropriate Federal banking agencies regarding accounting objectives, standards, and requirements for insured depository institutions. It instructs the agencies to review accounting principles, modify non-complying measures, and develop regulations related to off-balance sheet items. This qualifies as a specific authority delegation because it identifies specific tasks for the agencies to undertake to address a regulatory task.
While 12 U.S.C. § 1831n discusses accounting principles and standards more generally, part of it requires agencies to “develop and prescribe regulations which require that all assets and liabilities, including contingent assets and liabilities, of insured depository institutions be reported”. The agency has developed 12 CFR Part 47 to ensure the assets and liabilities of covered companies are accurately and safely reported to facilitate financial stability and risk management. The goals and intent of the statue is being upheld within the regulations.
While the statute grants broad authority to regulate, it also clearly instructs the agency on specific regulatory tasks, such as specifying capital levels, establishing deadlines for capital restoration plans, and restricting certain activities based on the capital level of the institution. It uses open-ended terms such as “appropriate,” “reasonable,” and “necessary.”
This statute gives the agencies specific instructions, outlining requirements for capital standards and categories, and corrective actions for institutions at various capitalization levels. While some terms like “appropriate” are used, the statute clearly directs the agency on specific regulatory tasks.
The statute directs the Corporation, in consultation with other banking agencies, to prescribe regulations specifically requiring annual independent audits of financial statements for insured depository institutions. While it uses terms like “generally accepted auditing standards,” it clearly instructs the agency on a specific regulatory task.
The statute clearly instructs the agencies (FDIC and appropriate federal banking agencies) on specific regulatory tasks. For example, subsection (d)(1) mandates that the Corporation, in consultation with other banking agencies, “shall prescribe regulations requiring that each insured depository institution shall have an annual independent audit made of the institution”™s financial statements.” Similarly, subsection (b)(1) directs the agencies to prescribe “such other disclosure requirements” for annual financial statements, and subsection (g)(1)(A) gives the Corporation authority to establish “any specific requirements” for independent audit committees. Even with open-ended terms such as “necessary” or “appropriate,” the statute guides regulatory action by identifying specific tasks, such as setting requirements for report contents, establishing auditing standards, and outlining qualifications for independent public accountants.
While the statute grants broad authority concerning financial reporting and auditing requirements, it includes specific instructions regarding the content of reports, the requirements for independent audits, and the establishment of audit committees. For example, Section 1831m(d)(1) specifically mandates the FDIC to “prescribe regulations requiring that each insured depository institution shall have an annual independent audit”. Also, under 1831m (b)(1), the agencies are enabled to require annual financial statements in accordance with “such other disclosure requirements as the Corporation and the appropriate Federal banking agency may prescribe”. All of these factors allow for a categorization of Specific Authority.
The statute, particularly section (d)(1), explicitly instructs the Corporation, in consultation with other banking agencies, to prescribe regulations requiring annual independent audits. This clearly directs a specific regulatory task, related to audit requirements, for insured depository institutions. It does not simply grant broad authority; it identifies a particular area for rulemaking.
12 U.S.C. § 1831n gives the agencies a very specific regulatory task: the agencies must ensure that insured depository institutions use accounting principles that accurately reflect capital and facilitate effective supervision and prompt corrective action, and it specifically mandates the inclusion of “off balance sheet” items. While terms like “appropriate” are used, the legislation provides clear goals and tasks for the agencies.
The statute provides a specific regulatory task: to prescribe regulations and issue orders, including definitions, as necessary to administer the prohibition on contracts that adversely affect the safety and soundness of insured depository institutions and to prevent evasions of this prohibition. While the terms “necessary” and “administer” provide some discretion, the specific focus and directive to prevent evasions of the prohibition indicates a specific authority delegation.
The statute specifically directs the agency to define “troubled condition” and “senior executive officer” through regulation (subsection (f)), and to prescribe conditions for waivers to the prior notice requirement in subsection (c). This is a clear instruction on a specific regulatory task, fitting the definition of a Specific Authority Delegation.
The statute provides very specific instructions, for example, the specific regulatory tasks regarding the definition of “troubled condition” and “senior executive officer”, and conditions under which waivers of the prior notice requirement of subsection (a) may be granted. The statute also dictates the standard for disapproval.
The statute provides specific regulatory tasks, particularly defining “troubled condition” and “senior executive officer” in subsection (f) and prescribing conditions for waiving the prior notice requirement in “extraordinary circumstances” under subsection (c). These are discrete regulatory tasks identified by the statute.
The statute contains multiple instances where the agency is instructed to create regulation, or explicitly authorized to do so for narrow and specific purposes. Subsection (f) demands definition regulations for “troubled condition” and “senior executive officer.” Subsection (c) grants the ability to prescribe regulations governing waiver conditions. Subsection (d)(2) grants the agency authority to require more information via regulation. All of these provide clear regulatory tasks for the agency to undertake.
The statute specifically instructs the Board (and in some cases, the “appropriate Federal banking agency”) on how to examine and take enforcement actions against non-depository institution subsidiaries of depository institution holding companies. It specifies the entities to be examined, the activities to be examined, the standards to be applied during examinations (“in the same manner, subject to the same standards, and with the same frequency”), and provides contingency authority. This level of specificity indicates a Specific Authority delegation. While there is some flexibility in how those examinations are executed, it is not an open-ended delegation for broad rulemaking.
The statute directly addresses the specific problem of potential discrimination against state-chartered insured depository institutions and insured branches of foreign banks concerning interest rates. It defines a specific calculation methodology for interest rates, preempting state law in certain situations. This is a specific regulatory task identified by the statute.
The statute instructs the FDIC on a specific regulatory task: determining whether an activity poses a significant risk to the Deposit Insurance Fund. Although “significant risk” is somewhat open-ended, it still falls under the “appropriate, reasonable, or necessary” umbrella.
The statute, 12 U.S.C. § 1831e, provides the Corporation (FDIC) with specific instructions regarding the activities of state-chartered savings associations. It outlines permissible activities, restrictions on equity investments and corporate debt securities, and provides for determinations on risk to the Deposit Insurance Fund. While it includes terms like “standards of credit-worthiness as established by the Corporation”, these open-ended terms are used in the context of specific regulatory tasks.
While the statute addresses brokered deposits specifically, subsection (f) provides broad authority to the FDIC to impose “such additional restrictions” as it deems “appropriate”. This does not outline specific regulatory tasks but allows the agency to determine what is appropriate to regulate.
While 12 U.S.C. § 1831 is cited as authority for the regulation, it does not provide specific instruction or direction regarding what reports or forms the agency should require. Instead, it is a more general grant of authority within the broader framework of the chapter. The statute deals with the separability of certain provisions related to deposit insurance limitations, and while relevant to the overall scheme that the agency regulates, it does not specify a reporting task for the agency.
While 12 U.S.C. § 1831 is listed in the authority section for 12 CFR Part 337, it is a separability clause. It doesn’t provide specific instructions or tasks for the agency to regulate, but it does broadly pertain to the FDIC’s authority concerning deposit insurance and operations. Therefore, under Hickman’s framework, it constitutes a general authority delegation.
The authority section for 12 CFR Part 382 lists a range of US Code sections but does not provide specificity as to which specific regulatory tasks are being undertaken by the agency. The number of authorities provided is very broad indicating general authority.
The statute explicitly directs the Corporation (FDIC) to make determinations regarding activities of insured state banks that are not permissible for national banks, specifically focusing on the risk to the Deposit Insurance Fund. Furthermore, the statute sets forth parameters for the FDIC’s determination and requires it to be done through regulation or order, suggesting specific regulatory action.