Retrospective Review Under Executive Order 13579, 70123-70124 [2012-28436]

Download as PDF 70123 Proposed Rules Federal Register Vol. 77, No. 226 Friday, November 23, 2012 This section of the FEDERAL REGISTER contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules. NUCLEAR REGULATORY COMMISSION 2 CFR Chapter XX 5 CFR Chapter XLVIII 10 CFR Chapter I [NRC–2011–0246] Retrospective Review Under Executive Order 13579 Nuclear Regulatory Commission. ACTION: Plan for retrospective analysis of existing rules; request for comment. AGENCY: The U.S. Nuclear Regulatory Commission (NRC or the Commission) is making available its draft Plan for the retrospective analysis of its existing regulations. The draft Plan describes the processes and activities that the NRC uses to determine whether any of its regulations should be modified, streamlined, expanded, or repealed. This action is part of the NRC’s voluntary implementation of Executive Order (E.O.) 13579, ‘‘Regulation and Independent Regulatory Agencies,’’ issued by the President on July 11, 2011. The NRC is requesting public comment on the draft Plan at this time. This request for comment is solely for information and program-planning purposes. The NRC will consider the comments submitted and may use them, as appropriate, in the preparation of a final retrospective review plan; however, the NRC does not anticipate responding to individual comments. DATES: Submit comments by February 6, 2013. Comments received after this date will be considered if it is practical to do so, but the Commission is able to only ensure consideration only of comments received before this date. Requests for extension of the comment period will not be granted. ADDRESSES: You may access information and comment submissions related to this draft plan, which the NRC possesses and is publicly available, by emcdonald on DSK7TPTVN1PROD with PROPOSALS SUMMARY: VerDate Mar<15>2010 12:48 Nov 21, 2012 Jkt 229001 searching on https://www.regulations.gov under Docket ID NRC–2011–0246. You may submit comments by the following methods: • Federal rulemaking Web site: Go to https://www.regulations.gov and search for Docket ID NRC–2011–0246. Address questions about NRC dockets to Carol Gallagher; telephone: 301–492–3668; email: Carol.Gallagher@nrc.gov. • Email comments to: Rulemaking.Comments@nrc.gov. If you do not receive an automatic email reply confirming receipt, then contact us at 301–415–1677. • Fax comments to: Secretary, U.S. Nuclear Regulatory Commission at 301– 415–1101. • Mail comments to: Secretary, U.S. Nuclear Regulatory Commission, Washington, DC 20555–0001, ATTN: Rulemakings and Adjudications Staff. • Hand deliver comments to: 11555 Rockville Pike, Rockville, Maryland 20852, between 7:30 a.m. and 4:15 p.m. (Eastern Time) Federal workdays; telephone: 301–415–1677. For additional direction on accessing information and submitting comments, see ‘‘Accessing Information and Submitting Comments’’ in the SUPPLEMENTARY INFORMATION section of this document. The NRC’s draft Plan may be viewed online on the NRC’s Public Web site at the following locations: 1) On the NRC’s Open Government Web page at https:// www.nrc.gov/public-involve/open.html (under the tabs entitled ‘‘Selected NRC Resources’’ and ‘‘Rulemaking’’); and 2) on the NRC’s plans, budget, and performance Web page at https:// www.nrc.gov/about-nrc/plansperformance.html). The NRC’s draft Plan may also be viewed online at https://www.regulations.gov. FOR FURTHER INFORMATION CONTACT: Cindy Bladey, Chief, Rules, Announcements, and Directives Branch, Office of Administration, U.S. Nuclear Regulatory Commission, Washington, DC 20555–0001; telephone: 301–492– 3667 or email: Cindy.Bladey@nrc.gov. SUPPLEMENTARY INFORMATION: I. Accessing Information and Submitting Comments A. Accessing Information Please refer to Docket ID NRC–2011– 0246 when contacting the NRC about the availability of information for this draft Plan. You may access information PO 00000 Frm 00001 Fmt 4702 Sfmt 4702 related to this action, which the NRC possesses and is publicly available, by the following methods: • Federal Rulemaking Web Site: Go to https://www.regulations.gov and search for Docket ID NRC–2011–0246. • NRC’s Agencywide Documents Access and Management System (ADAMS): You may access publicly available documents online in the NRC Library at https://www.nrc.gov/readingrm/adams.html. To begin the search, select ‘‘ADAMS Public Documents’’ and then select ‘‘Begin Web-based ADAMS Search.’’ For problems with ADAMS, please contact the NRC’s Public Document Room (PDR) reference staff at 1–800–397–4209, 301–415–4737, or by email to pdr.resource@nrc.gov. The NRC’s draft Plan for public comment is in ADAMS under Accession No. ML12305A373. • NRC’s PDR: You may examine and purchase copies of public documents at the NRC’s PDR, Room O1–F21, One White Flint North, 11555 Rockville Pike, Rockville, Maryland 20852. B. Submitting Comments Please include Docket ID NRC–2011– 0246 in the subject line of your comment submission in order to ensure that the NRC is able to make your comment submission available to the public in this docket. The NRC cautions you not to include identifying or contact information that you do not want to be publicly disclosed in your comment submission. The NRC will post all comment submissions at https:// www.regulations.gov as well as enter the comment submissions into ADAMS. The NRC does not edit comment submissions to remove identifying or contact information. If you are requesting or aggregating comments from other persons for submission to the NRC, then you should inform those persons not to include identifying or contact information that they do not want to be publicly disclosed in their comment submission. Your request should state that the NRC will not edit comment submissions to remove such information before making the comment submissions available to the public or entering the comment submissions into ADAMS. II. Background On January 18, 2011, President Obama issued E.O. 13563, ‘‘Improving E:\FR\FM\23NOP1.SGM 23NOP1 70124 Federal Register / Vol. 77, No. 226 / Friday, November 23, 2012 / Proposed Rules Regulation and Regulatory Review.’’ Executive Order 13563 directs Federal agencies to develop and submit a preliminary plan ‘‘under which the agency will periodically review its existing significant regulations to determine whether any such regulations should be modified, streamlined, expanded, or repealed so as to make the agency’s regulatory program more effective or less burdensome in achieving the regulatory objectives.’’ Executive Order 13563 did not, however, apply to independent regulatory agencies. Subsequently, on July 11, 2011, the President issued E.O. 13579, which recommends that independent regulatory agencies also develop retrospective plans similar to those required of other agencies under E.O. 13563. In the spirit of cooperation, in November 2011, in response to E.O. 13579, the NRC made available an initial Plan on the NRC’s Public Web site. The NRC has now updated its initial Plan and has created a draft Plan. The draft Plan is available at the following locations: (1) On the NRC’s Open Government Web page at https:// www.nrc.gov/public-involve/open.html (under the tabs entitled ‘‘Selected NRC Resources’’ and ‘‘Rulemaking’’); (2) on the NRC’s plans, budget, and performance Web page at https:// www.nrc.gov/about-nrc/plansperformance.html); and (3) on https:// www.regulations.gov. The NRC is accepting public comment on this draft Plan. emcdonald on DSK7TPTVN1PROD with PROPOSALS III. Plan for Retrospective Review The NRC’s draft Plan describes the NRC’s processes and activities relating to retrospective review of existing regulations, including discussions of the: (1) Efforts to incorporate risk assessments into regulatory decisionmaking; (2) efforts to address the cumulative effects of regulation; (3) the NRC’s methodology for prioritizing its rulemaking activities; (4) rulemaking initiatives arising out of the NRC’s ongoing review of its regulations related to the recent events at the Fukushima Dai-ichi Nuclear Power Plant in Japan; and (5) the NRC’s previous and ongoing efforts to update its regulations in a systematic, ongoing basis. For the Nuclear Regulatory Commission. Dated at Rockville, Maryland, this 16th day of November 2012. Annette L. Vietti-Cook, Secretary of the Commission. [FR Doc. 2012–28436 Filed 11–21–12; 8:45 am] BILLING CODE 7590–01–P VerDate Mar<15>2010 12:48 Nov 21, 2012 Jkt 229001 FEDERAL RESERVE SYSTEM 12 CFR Part 252 [Regulation YY; Docket No. OP–1452] RIN 7100–AD–86 Policy Statement on the Scenario Design Framework for Stress Testing Board of Governors of the Federal Reserve System (Board). ACTION: Proposed policy statement with request for public comment. AGENCY: The Board is requesting public comment on a policy statement on the approach to scenario design for stress testing that would be used in connection with the supervisory and company-run stress tests conducted under the Board’s Regulations pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (DoddFrank Act or Act) and the Board’s capital plan rule. DATES: Comments must be received by February 15, 2013. FOR FURTHER INFORMATION CONTACT: Tim Clark, Senior Associate Director, (202) 452–5264, Lisa Ryu, Assistant Director, (202) 263–4833, or David Palmer, Senior Supervisory Financial Analyst, (202) 452–2904, Division of Banking Supervision and Regulation; Benjamin W. McDonough, Senior Counsel, (202) 452–2036, or Christine Graham, Senior Attorney, (202) 452–3099, Legal Division; or Andreas Lehnert, Deputy Director, (202) 452–3325, or Rochelle Edge, Adviser, (202) 452–2339, Office of Financial Stability Policy and Research. SUPPLEMENTARY INFORMATION: SUMMARY: Table of Contents I. Background II. Administrative Law Matters A. Use of Plain Language B. Paperwork Reduction Act Analysis C. Regulatory Flexibility Act Analysis I. Background Stress testing is a tool that helps both bank supervisors and a banking organization measure the sufficiency of capital available to support the banking organization’s operations throughout periods of stress.1 The Board and the other federal banking agencies previously have highlighted the use of stress testing as a means to better understand the range of a banking organization’s potential risk exposures.2 1 A full assessment of a company’s capital adequacy must take into account a range of risk factors, including those that are specific to a particular industry or company. 2 See, e.g., Supervisory Guidance on Stress Testing for Banking Organizations With More Than PO 00000 Frm 00002 Fmt 4702 Sfmt 4702 In particular, as part of its effort to stabilize the U.S. financial system during the 2007–2009 financial crisis, the Board and the Federal Reserve banks, along with other federal financial regulatory agencies, conducted stress tests of large, complex bank holding companies through the Supervisory Capital Assessment Program (SCAP). The SCAP was a forward-looking exercise designed to estimate revenue, losses, and capital needs under an adverse economic and financial market scenario. By looking at the broad capital needs of the financial system and the specific needs of individual companies, these stress tests provided valuable information to market participants, reduced uncertainty about the financial condition of the participating bank holding companies under a scenario that was more adverse than that which was anticipated to occur at the time, and had an overall stabilizing effect. Building on the SCAP and other supervisory work coming out of the crisis, the Board initiated the annual Comprehensive Capital Analysis and Review (CCAR) in late 2010 to assess the capital adequacy and the internal capital planning processes of the same large, complex bank holding companies $10 Billion in Total Consolidated Assets, 77 FR 29458 (May 17, 2012), available at https://www. federalreserve.gov/bankinforeg/srletters/sr1207a1. pdf; Supervision and Regulation Letter SR 10–6, Interagency Policy Statement on Funding and Liquidity Risk Management (March 17, 2010), available at https://www.federalreserve.gov/ boarddocs/srletters/2010/sr1006a1.pdf; Supervision and Regulation Letter SR 10–1, Interagency Advisory on Interest Rate Risk (January 11, 2010), available at https://www.federalreserve.gov/ boarddocs/srletters/2010/SR1001.pdf; Supervision and Regulation Letter SR 09–4, Applying Supervisory Guidance and Regulations on the Payment of Dividends, Stock Redemptions, and Stock Repurchases at Bank Holding Companies (revised March 27, 2009), available at https://www. federalreserve.gov/boarddocs/srletters/2009/ SR0904.htm; Supervision and Regulation Letter SR 07–1, Interagency Guidance on Concentrations in Commercial Real Estate (Jan. 4, 2007), available at https://www.federalreserve.gov/boarddocs/srletters/ 2007/SR0701.htm; Supervision and Regulation Letter SR 12–7, Supervisory Guidance on Stress Testing for Banking Organizations with More Than $10 Billion in Total Consolidated Assets (May 14, 2012), available at https://www.federalreserve.gov/ bankinforeg/srletters/sr1207.htm; Supervision and Regulation Letter SR 99–18, Assessing Capital Adequacy in Relation to Risk at Large Banking Organizations and Others with Complex Risk Profiles (July 1, 1999), available at https://www. federalreserve.gov/boarddocs/srletters/1999/ SR9918.htm; Supervisory Guidance: Supervisory Review Process of Capital Adequacy (Pillar 2) Related to the Implementation of the Basel II Advanced Capital Framework, 73 FR 44620 (July 31, 2008); The Supervisory Capital Assessment Program: SCAP Overview of Results (May 7, 2009), available at https://www.federalreserve.gov/ newsevents/press/bcreg/bcreg20090507a1.pdf; and Comprehensive Capital Analysis and Review: Objectives and Overview (Mar. 18, 2011), available at https://www.federalreserve.gov/newsevents/press/ bcreg/bcreg20110318a1.pdf. E:\FR\FM\23NOP1.SGM 23NOP1

Agencies

NUCLEAR REGULATORY COMMISSION

[Federal Register Volume 77, Number 226 (Friday, November 23, 2012)]
[Proposed Rules]
[Pages 70123-70124]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-28436]


========================================================================
Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

========================================================================


Federal Register / Vol. 77, No. 226 / Friday, November 23, 2012 / 
Proposed Rules

[[Page 70123]]



NUCLEAR REGULATORY COMMISSION

2 CFR Chapter XX

5 CFR Chapter XLVIII

10 CFR Chapter I

[NRC-2011-0246]


Retrospective Review Under Executive Order 13579

AGENCY: Nuclear Regulatory Commission.

ACTION: Plan for retrospective analysis of existing rules; request for 
comment.

-----------------------------------------------------------------------

SUMMARY: The U.S. Nuclear Regulatory Commission (NRC or the Commission) 
is making available its draft Plan for the retrospective analysis of 
its existing regulations. The draft Plan describes the processes and 
activities that the NRC uses to determine whether any of its 
regulations should be modified, streamlined, expanded, or repealed. 
This action is part of the NRC's voluntary implementation of Executive 
Order (E.O.) 13579, ``Regulation and Independent Regulatory Agencies,'' 
issued by the President on July 11, 2011. The NRC is requesting public 
comment on the draft Plan at this time. This request for comment is 
solely for information and program-planning purposes. The NRC will 
consider the comments submitted and may use them, as appropriate, in 
the preparation of a final retrospective review plan; however, the NRC 
does not anticipate responding to individual comments.

DATES: Submit comments by February 6, 2013. Comments received after 
this date will be considered if it is practical to do so, but the 
Commission is able to only ensure consideration only of comments 
received before this date. Requests for extension of the comment period 
will not be granted.

ADDRESSES: You may access information and comment submissions related 
to this draft plan, which the NRC possesses and is publicly available, 
by searching on https://www.regulations.gov under Docket ID NRC-2011-
0246. You may submit comments by the following methods:
     Federal rulemaking Web site: Go to https://www.regulations.gov and search for Docket ID NRC-2011-0246. Address 
questions about NRC dockets to Carol Gallagher; telephone: 301-492-
3668; email: Carol.Gallagher@nrc.gov.
     Email comments to: Rulemaking.Comments@nrc.gov. If you do 
not receive an automatic email reply confirming receipt, then contact 
us at 301-415-1677.
     Fax comments to: Secretary, U.S. Nuclear Regulatory 
Commission at 301-415-1101.
     Mail comments to: Secretary, U.S. Nuclear Regulatory 
Commission, Washington, DC 20555-0001, ATTN: Rulemakings and 
Adjudications Staff.
     Hand deliver comments to: 11555 Rockville Pike, Rockville, 
Maryland 20852, between 7:30 a.m. and 4:15 p.m. (Eastern Time) Federal 
workdays; telephone: 301-415-1677.
    For additional direction on accessing information and submitting 
comments, see ``Accessing Information and Submitting Comments'' in the 
SUPPLEMENTARY INFORMATION section of this document.
    The NRC's draft Plan may be viewed online on the NRC's Public Web 
site at the following locations: 1) On the NRC's Open Government Web 
page at https://www.nrc.gov/public-involve/open.html (under the tabs 
entitled ``Selected NRC Resources'' and ``Rulemaking''); and 2) on the 
NRC's plans, budget, and performance Web page at https://www.nrc.gov/about-nrc/plans-performance.html). The NRC's draft Plan may also be 
viewed online at https://www.regulations.gov.

FOR FURTHER INFORMATION CONTACT: Cindy Bladey, Chief, Rules, 
Announcements, and Directives Branch, Office of Administration, U.S. 
Nuclear Regulatory Commission, Washington, DC 20555-0001; telephone: 
301-492-3667 or email: Cindy.Bladey@nrc.gov.

SUPPLEMENTARY INFORMATION: 

I. Accessing Information and Submitting Comments

A. Accessing Information

    Please refer to Docket ID NRC-2011-0246 when contacting the NRC 
about the availability of information for this draft Plan. You may 
access information related to this action, which the NRC possesses and 
is publicly available, by the following methods:
     Federal Rulemaking Web Site: Go to https://www.regulations.gov and search for Docket ID NRC-2011-0246.
     NRC's Agencywide Documents Access and Management System 
(ADAMS): You may access publicly available documents online in the NRC 
Library at https://www.nrc.gov/reading-rm/adams.html. To begin the 
search, select ``ADAMS Public Documents'' and then select ``Begin Web-
based ADAMS Search.'' For problems with ADAMS, please contact the NRC's 
Public Document Room (PDR) reference staff at 1-800-397-4209, 301-415-
4737, or by email to pdr.resource@nrc.gov. The NRC's draft Plan for 
public comment is in ADAMS under Accession No. ML12305A373.
     NRC's PDR: You may examine and purchase copies of public 
documents at the NRC's PDR, Room O1-F21, One White Flint North, 11555 
Rockville Pike, Rockville, Maryland 20852.

B. Submitting Comments

    Please include Docket ID NRC-2011-0246 in the subject line of your 
comment submission in order to ensure that the NRC is able to make your 
comment submission available to the public in this docket.
    The NRC cautions you not to include identifying or contact 
information that you do not want to be publicly disclosed in your 
comment submission. The NRC will post all comment submissions at https://www.regulations.gov as well as enter the comment submissions into 
ADAMS. The NRC does not edit comment submissions to remove identifying 
or contact information.
    If you are requesting or aggregating comments from other persons 
for submission to the NRC, then you should inform those persons not to 
include identifying or contact information that they do not want to be 
publicly disclosed in their comment submission. Your request should 
state that the NRC will not edit comment submissions to remove such 
information before making the comment submissions available to the 
public or entering the comment submissions into ADAMS.

II. Background

    On January 18, 2011, President Obama issued E.O. 13563, ``Improving

[[Page 70124]]

Regulation and Regulatory Review.'' Executive Order 13563 directs 
Federal agencies to develop and submit a preliminary plan ``under which 
the agency will periodically review its existing significant 
regulations to determine whether any such regulations should be 
modified, streamlined, expanded, or repealed so as to make the agency's 
regulatory program more effective or less burdensome in achieving the 
regulatory objectives.'' Executive Order 13563 did not, however, apply 
to independent regulatory agencies. Subsequently, on July 11, 2011, the 
President issued E.O. 13579, which recommends that independent 
regulatory agencies also develop retrospective plans similar to those 
required of other agencies under E.O. 13563. In the spirit of 
cooperation, in November 2011, in response to E.O. 13579, the NRC made 
available an initial Plan on the NRC's Public Web site. The NRC has now 
updated its initial Plan and has created a draft Plan. The draft Plan 
is available at the following locations: (1) On the NRC's Open 
Government Web page at https://www.nrc.gov/public-involve/open.html 
(under the tabs entitled ``Selected NRC Resources'' and 
``Rulemaking''); (2) on the NRC's plans, budget, and performance Web 
page at https://www.nrc.gov/about-nrc/plans-performance.html); and (3) 
on https://www.regulations.gov. The NRC is accepting public comment on 
this draft Plan.

III. Plan for Retrospective Review

    The NRC's draft Plan describes the NRC's processes and activities 
relating to retrospective review of existing regulations, including 
discussions of the: (1) Efforts to incorporate risk assessments into 
regulatory decisionmaking; (2) efforts to address the cumulative 
effects of regulation; (3) the NRC's methodology for prioritizing its 
rulemaking activities; (4) rulemaking initiatives arising out of the 
NRC's ongoing review of its regulations related to the recent events at 
the Fukushima Dai-ichi Nuclear Power Plant in Japan; and (5) the NRC's 
previous and ongoing efforts to update its regulations in a systematic, 
ongoing basis.

    For the Nuclear Regulatory Commission.

    Dated at Rockville, Maryland, this 16th day of November 2012.
Annette L. Vietti-Cook,
Secretary of the Commission.
[FR Doc. 2012-28436 Filed 11-21-12; 8:45 am]
BILLING CODE 7590-01-P

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