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PA Bulletin, Doc. No. 14-1999

STATEMENTS OF POLICY

Title 10—BANKING
AND SECURITIES

DEPARTMENT OF BANKING AND SECURITIES

[ 10 PA. CODE CH. 5 ]

Implementation Schedule

 The Department of Banking and Securities (Department) issues § 5.6a (relating to implementation schedule—statement of policy) under the authority of sections 202(C) and (D) and 204(A) of the Department of Banking and Securities Code (71 P. S. §§ 733-202(C) and (D) and 733-204(A)).

Purpose

 The purpose of § 5.6a is to provide notice to all Commonwealth State-chartered banks, State-chartered bank and trust companies, State-chartered savings banks and State-chartered trust companies that the implementation schedule in § 5.6(b)(1)—(3) (relating to implementation schedule), as published at 44 Pa.B. 5010 (July 26, 2014) and corrected at 44 Pa.B. 5463 (August 16, 2014), will be effective beginning with Fiscal Year 2014-2015. Therefore, the Department will read the blanks in § 5.6(b)(1)—(3) as containing the date July 1, 2014.

Explanation of Regulatory Requirements

 There are no new regulatory requirements as a result of the issuance of this statement of policy. This statement of policy notifies the regulated community of the dates applicable to the implementation schedule in § 5.6(b)(1)—(3).

Affected Parties

 This statement of policy applies to Commonwealth State-chartered banks, State-chartered bank and trust companies, State-chartered savings banks and State-chartered trust companies.

Fiscal Impact

 The statement of policy does not fiscally impact local governments, the State government or the regulated community.

Paperwork

 This statement of policy eliminates the need for the Department to send letters to each member of the regulated community regarding the implementation schedule for the 3 fiscal-year phase-in outlined in the approved assessments regulation.

Effectiveness Date

 This statement of policy is effective upon publication in the Pennsylvania Bulletin.

Contact Person

 The contact person for this statement of policy is the Department of Banking and Securities, Office of Chief Counsel, (717) 787-1471.

GLENN E. MOYER, 
Secretary

 (Editor's Note: Title 10 of the Pennsylvania Code is amended by adding a statement of policy in § 5.6a to read as set forth in Annex A.)

 Fiscal Note: 3-53. No fiscal impact; (8) recommends adoption.

Annex A

TITLE 10. BANKING AND SECURITIES

PART I. GENERAL PROVISIONS

CHAPTER 5. ASSESSMENTS

§ 5.6a. Implementation schedule—statement of policy.

 The Department is providing notice to all Commonwealth State-chartered banks, State-chartered bank and trust companies, State-chartered savings banks and State-chartered trust companies that the implementation schedule in § 5.6(b)(1)—(3) (relating to implementation schedule) will be effective beginning with Fiscal Year 2014-2015. Therefore, the Department will read the blanks in § 5.6(b)(1)—(3) as containing the date July 1, 2014.

[Pa.B. Doc. No. 14-1999. Filed for public inspection September 26, 2014, 9:00 a.m.]


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