Financial Management Service; Proposed Collection of Information: List of Data (A) and List of Data (B), 25782-25783 [2011-10775]
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Federal Register / Vol. 76, No. 87 / Thursday, May 5, 2011 / Notices
Treasury invites comments on the
impact on small entities.
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IV. Proposed Determination
For the reasons set forth in sections I
and II, which are incorporated into and
made part of this section IV, the
Secretary proposes to issue a
determination, as follows:
(a) Authority and purpose. This
determination is issued under section
1a(47)(E) and 1b of the Act in order to
implement the provisions of the Act
relating to the treatment of foreign
exchange swaps and foreign exchange
forwards as swaps under the Act.
(b) Findings and exemption—(1)
Considerations. The Secretary has
considered—
(i) Whether the required trading and
clearing of foreign exchange swaps and
foreign exchange forwards would create
systemic risk, lower transparency, or
threaten the financial stability of the
United States, and finds that the
required trading and clearing of these
instruments would introduce new
challenges and could result in negative
consequences, without improving
transparency;
(ii) Whether foreign exchange swaps
and foreign exchange forwards are
already subject to a regulatory scheme
that is materially comparable to that
established by this Act for other classes
of swaps, and finds that the regulatory
scheme for foreign exchange swaps and
foreign exchange forwards applicable in
the U.S., as well as the regulatory
schemes in other jurisdictions, have
required specific actions that address
settlement risk, mitigate counterparty
credit risk, and manage other risks
associated with foreign exchange swaps
and forwards;
(iii) The extent to which bank
regulators of participants in the foreign
exchange market provide adequate
supervision, including capital and
margin requirements, and finds that
regulators are adequately supervising
these participants, in part by requiring
the implementation of risk-management
and operational processes, including the
use of payment-versus-payment
settlement arrangements for settling
transactions and the adoption of credit
support annexes with counterparties;
(iv) The extent of adequate payment
and settlement systems, and finds that
these systems are adequate for foreign
exchange swaps and foreign exchange
forwards, particularly because a
specialized settlement system, which is
subject to Federal oversight, has proven
capabilities to settle the majority of all
global foreign exchange transactions in
multiple currencies; and
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(v) The use of a potential exemption
of foreign exchange swaps and foreign
exchange forwards to evade otherwise
applicable regulatory requirements, and
finds that foreign exchange swaps and
foreign exchange forwards, as defined
under the Act, are distinguished from
other derivatives, widely used by
supervised banks for bona fide funding
transactions, and not likely to be used
to evade otherwise applicable regulatory
requirements because of operational and
transactions costs associated with
potentially transforming these
instruments into other derivatives that
are subject to regulatory requirements
under the Act.
(2) Exemption. Upon consideration of
each of the factors set forth in section 1b
of the Act, the Secretary finds that—
(i) Foreign exchange swaps and
foreign exchange forwards should not be
regulated as swaps under the Act; and
(ii) Foreign exchange swaps and
foreign exchange forwards are not
structured to evade the requirements of
the Dodd-Frank Act, in violation of any
rule promulgated by the Commission,
pursuant to section 721(c) of the DoddFrank Act (15 U.S.C. 8321)— and,
accordingly, hereby determines that any
foreign exchange swap or foreign
exchange forward hereby is exempt
from the definition of the term ‘‘swap’’
under the Act.
(c) Scope—As provided in sections
1a(47)(E) and 1b(c) of the Act—
(1) Reporting. Notwithstanding this
determination, all foreign exchange
swaps and foreign exchange forwards
shall be reported to a either a swap data
repository or, if there is no swap data
repository that would accept such
swaps or forwards, to the Commission,
pursuant to section 4r of the Act (7
U.S.C. 6r) within such time period as
the Commission may by rule or
regulation prescribe.
(2) Business standards.
Notwithstanding this determination,
any party to a foreign exchange swap or
forward that is a swap dealer or major
swap participant (as such terms are
defined under the Act or under section
721(c) of the Dodd-Frank Act (15 U.S.C.
8321)) shall conform to the business
conduct standards contained in section
4s(h) of the Act (7 U.S.C. 6s(h)).
(3) Effect of determination. This
determination shall not exempt any
foreign exchange swap or foreign
exchange forward traded on a
designated contract market or swap
execution facility from any applicable
antimanipulation provision of the Act.
(d) Definitions. For the purposes of
this determination, the following
definitions apply:
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(1) Act means the Commodity
Exchange Act.
(2) Commission means the
Commodity Futures Trading
Commission.
(3) Dodd-Frank Act means the DoddFrank Wall Street Reform and Consumer
Protection Act.
(4) Foreign exchange forward shall
have the same meaning as in section
1a(24) of the Act.
(5) Foreign exchange swap shall have
the same meaning as in section 1a(25)
of the Act.
(6) Swap shall have the same meaning
as in section 1a(47) of the Act.
Dated: April 29, 2011.
Alastair Fitzpayne,
Deputy Chief of Staff and Executive Secretary.
[FR Doc. 2011–10927 Filed 5–4–11; 8:45 am]
BILLING CODE 4810–25–P
DEPARTMENT OF THE TREASURY
Fiscal Service
Financial Management Service;
Proposed Collection of Information:
List of Data (A) and List of Data (B)
Financial Management Service,
Fiscal Service, Treasury.
ACTION: Notice and Request for
comments.
AGENCY:
The Financial Management
Service, as part of its continuing effort
to reduce paperwork and respondent
burden, invites the general public and
other Federal agencies to take this
opportunity to comment on a
continuing information collection. By
this notice, the Financial Management
Service solicits comments concerning
the form ‘‘List of Data (A) and List of
Data (B).’’
DATES: Written comments should be
received on or before July 5, 2011.
ADDRESSES: Direct all written comments
to Financial Management Service, 3700
East West Highway, Records and
Information Management Branch, Room
135, Hyattsville, Maryland 20782.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of form(s) and instructions
should be directed to Rose Miller,
Manager, Surety Bond Branch, 3700
East West Highway, Room 632F,
Hyattsville, MD 20782, (202) 874–1427.
SUPPLEMENTAL INFORMATION: Pursuant to
the Paperwork Reduction Act of 1995,
(44 U.S.C. 3506(c)(2)(A)), the Financial
Management Service solicits comments
on the collection of information
described below:
Title: List of Data (A) and List of Data
(B) OMB Number: 1510–0047.
SUMMARY:
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Federal Register / Vol. 76, No. 87 / Thursday, May 5, 2011 / Notices
Form Number: TFS 2211.
Abstract: This information is
collected from insurance companies to
assist Treasury Department in
determining acceptability of the
companies applying for a Certificate of
Authority to write or reinsure Federal
surety bonds.
Current Actions: Extension of
currently approved collection.
Type of Review: Regular.
Affected Public: Business or other forprofit.
Estimated Number of Respondents:
30.
Estimated Time per Respondent: 18
hours.
Estimated Total Annual Burden
Hours: 540.
Comments: Comments submitted in
response to this notice will be
summarized and/or included in the
request for Office of Management and
Budget approval. All comments will
become a matter of public record.
Comments are invited on: (a) Whether
the collection of information is
necessary for the proper performance of
the functions of the agency, including
whether the information shall have
practical utility; (b) the accuracy of the
agency’s estimate of the burden of the
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be collected; (d)
ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology;
and (e) estimates of capital or start-up
costs and costs of operation,
maintenance and purchase of services to
provide information.
Dated: APR 27 2011.
Linda S. Kimberling,
Assistant Commissioner, Management (CFO).
[FR Doc. 2011–10775 Filed 5–4–11; 8:45 am]
BILLING CODE 4810–35–M
DEPARTMENT OF THE TREASURY
Fiscal Service
Financial Management Service,
Fiscal Service, Department of the
Treasury.
ACTION: Notice.
jlentini on DSKJ8SOYB1PROD with NOTICES
AGENCY:
This is Supplement No. 9 to
the Treasury Department Circular 570,
2010 Revision, published July 1, 2010,
at 75 FR 38192.
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Surety Bond Branch at (202) 874–6850.
Notice is
hereby given that Odyssey America
Reinsurance Corporation (NAIC #23680)
has changed its name to Odyssey
Reinsurance Company effective
February 18, 2011. Federal bondapproving officials should annotate
their reference copies of the Treasury
Department Circular 570 (‘‘Circular’’),
2010 Revision, to reflect this change.
The Circular may be viewed and
downloaded through the Internet at
https://www.fms.treas.gov/c570.
Questions concerning this notice may
be directed to the U.S. Department of
the Treasury, Financial Management
Service, Financial Accounting and
Services Division, Surety Bond Branch,
3700 East-West Highway, Room 6F01,
Hyattsville, MD 20782.
SUPPLEMENTARY INFORMATION:
Dated: April 22, 2011.
Laura Carrico,
Director, Financial Accounting and Services
Division.
[FR Doc. 2011–10773 Filed 5–4–11; 8:45 am]
BILLING CODE 4810–35–M
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Identification of Thirty Entities as
Governemnt of Libya Entities Pursuant
to Executive Order 13566
Office of Foreign Assets
Control, Treasury.
AGENCY:
ACTION:
Notice.
The Treasury Department’s
Office of Foreign Assets Control
(‘‘OFAC’’) is publishing the names of 16
entities identified on March 15, 2011
and 14 entities identified on March 22,
2011, as persons whose property and
interests in property are blocked
pursuant to Section 2 of Executive
Order 13566 of February 25, 2011,
‘‘Blocking Property and Prohibiting
Certain Transactions Related to Libya.’’
SUMMARY:
The identification by the
Director of OFAC of the 16 and 14
entities pursuant to Section 2 of
Executive Order 13566 of February 25,
2011, went into effect on March 15,
2011, and March 22, 2011, respectively.
DATES:
Surety Companies Acceptable on
Federal Bonds; Name Change:
Odyssey America Reinsurance
Corporation
SUMMARY:
FOR FURTHER INFORMATION CONTACT:
FOR FURTHER INFORMATION CONTACT:
Assistant Director, Compliance
Outreach & Implementation, Office of
Foreign Assets Control, Department of
the Treasury, Washington, DC 20220,
Tel.: 202/622–2490.
SUPPLEMENTARY INFORMATION:
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25783
Electronic and Facsimile Availability
This document and additional
information concerning OFAC are
available from OFAC’s Web site
(www.treas.gov/ofac) or via facsimile
through a 24-hour fax-on-demand
service, Tel.: 202/622–0077.
Background
On February 25, 2011, the President
issued Executive Order 13566,
‘‘Blocking Property and Prohibiting
Certain Transactions Related to Libya’’
(the ‘‘Order’’) pursuant to, inter alia, the
International Emergency Economic
Powers Act (50 U.S.C. 1701–06).
Section 2 of the Order blocks all
property and interests in property that
are in the United States, that come
within the United States, or that are or
come within the possession or control of
any United States person, including any
overseas branch, of the Government of
Libya, its agencies, instrumentalities,
and controlled entities, and the Central
Bank of Libya.
On March 15, 2011 and March 22,
2011, the Director of OFAC, identified
for sanctions, pursuant to Section 2 of
the Order, thirty entities whose property
and interests in property are blocked.
The listing for entities is as follows:
Entities
March 15, 2011 Identifications
1. AFRIQIYAH AIRWAYS, 1st Floor,
Waha Building, 273, Omar
Almokhtar Street, Ali Khalifa Zaidi
Street, Tripoli, Libya; 273 Omar Al
Mokhtar Street, P.O. Box 83428,
Tripoli, Libya; E mail Address
afriqiyah@afriqiyah.aero; alt. E-mail
Address cargo@afriqiyah.aero;
Website www.afriqiyah.aero;
Telephone No. (218) 214442622;
Telephone No. (218) 214444408;
Telephone No. (218) 214444409;
Telephone No. (218) 214449734;
Telephone No. (218) 214449743;
Fax No. (218) 213341181; Fax No.
(218) 214449128; Fax No. (218)
213614102 [LIBYA2]
2. AGRICULTURAL BANK (a.k.a. AL
MASRAF AL ZIRAE; a.k.a. LIBYAN
AGRICULTURAL BANK), El
Ghayran Area, Ganzor El Sharqya,
P.O. Box 1100, Tripoli, Libya; Al
Jumhouria Street, East Junzour, Al
Gheran, Tripoli, Libya; E-mail
Address agbank@agribank-ly.org;
SWIFT/BIC AGRULYLT (Libya);
Telephone No. (218) 214870586;
Telephone No. (218) 214870714;
Telephone No. (218) 214870745;
Telephone No. (218) 213338366;
Telephone No. (218) 213331533;
Telephone No. (218) 213333541;
Telephone No. (218) 213333544;
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Agencies
[Federal Register Volume 76, Number 87 (Thursday, May 5, 2011)]
[Notices]
[Pages 25782-25783]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-10775]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Fiscal Service
Financial Management Service; Proposed Collection of Information:
List of Data (A) and List of Data (B)
AGENCY: Financial Management Service, Fiscal Service, Treasury.
ACTION: Notice and Request for comments.
-----------------------------------------------------------------------
SUMMARY: The Financial Management Service, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on a continuing information collection. By this notice, the Financial
Management Service solicits comments concerning the form ``List of Data
(A) and List of Data (B).''
DATES: Written comments should be received on or before July 5, 2011.
ADDRESSES: Direct all written comments to Financial Management Service,
3700 East West Highway, Records and Information Management Branch, Room
135, Hyattsville, Maryland 20782.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of form(s) and instructions should be directed to Rose Miller,
Manager, Surety Bond Branch, 3700 East West Highway, Room 632F,
Hyattsville, MD 20782, (202) 874-1427.
SUPPLEMENTAL INFORMATION: Pursuant to the Paperwork Reduction Act of
1995, (44 U.S.C. 3506(c)(2)(A)), the Financial Management Service
solicits comments on the collection of information described below:
Title: List of Data (A) and List of Data (B) OMB Number: 1510-0047.
[[Page 25783]]
Form Number: TFS 2211.
Abstract: This information is collected from insurance companies to
assist Treasury Department in determining acceptability of the
companies applying for a Certificate of Authority to write or reinsure
Federal surety bonds.
Current Actions: Extension of currently approved collection.
Type of Review: Regular.
Affected Public: Business or other for-profit.
Estimated Number of Respondents: 30.
Estimated Time per Respondent: 18 hours.
Estimated Total Annual Burden Hours: 540.
Comments: Comments submitted in response to this notice will be
summarized and/or included in the request for Office of Management and
Budget approval. All comments will become a matter of public record.
Comments are invited on: (a) Whether the collection of information
is necessary for the proper performance of the functions of the agency,
including whether the information shall have practical utility; (b) the
accuracy of the agency's estimate of the burden of the collection of
information; (c) ways to enhance the quality, utility, and clarity of
the information to be collected; (d) ways to minimize the burden of the
collection of information on respondents, including through the use of
automated collection techniques or other forms of information
technology; and (e) estimates of capital or start-up costs and costs of
operation, maintenance and purchase of services to provide information.
Dated: APR 27 2011.
Linda S. Kimberling,
Assistant Commissioner, Management (CFO).
[FR Doc. 2011-10775 Filed 5-4-11; 8:45 am]
BILLING CODE 4810-35-M