WSR 16-11-070

PREPROPOSAL STATEMENT OF INQUIRY

[Filed May 16, 2016, 1:09 p.m.]

Subject of Possible Rule Making: Amending chapter 389-12 WAC, Practice and procedure—Public depositaries.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 39.58.040.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: To amend and update the requirements, terms, and conditions for financial institutions to receive and hold public deposits in accordance with the Public Deposit Protection Act, as last amended by chapter 2, Laws of 2016 1st sp. sess.

Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.

Process for Developing New Rule: The agency will consult with stakeholders regarding the proposed rule changes.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Shad Pruitt, Deputy Treasurer, P.O. Box 40200, Olympia, WA 98504-0200, phone (360) 902-8904, e-mail shad.pruitt@tre.wa.gov.

Interested parties can participate in this rule-making process by contacting the person identified above providing written comments, or by providing oral testimony at the public hearing.

May 16, 2016

Shad Pruitt

Deputy Treasurer