Orders: Supplemental Orders on Reporting by Regulated Entities of Stress Testing Results as of September 30, 2013, 25006-25007 [2014-10127]

Download as PDF 25006 Federal Register / Vol. 79, No. 85 / Friday, May 2, 2014 / Rules and Regulations November, January and February, and 35 percent during the months of December and March through June of the producer milk physically received at such plant (or such unit of plants in the case of plants that pool as a unit pursuant to § 1007.7(e)) during the month, excluding the quantity of producer milk received from a handler described in § 1000.9(c) of this chapter, excluding the total pounds of bulk milk received directly from producers meeting the conditions as described in § 1007.82(c)(2)(ii) and (iii), and for which a transportation credit is requested. * * * * * ■ 7. Section 1007.81 is amended by revising paragraph (b) to read as follows: down to three decimal places to compute the fuel cost adjustment factor; (4) Add the result in paragraph (a)(3) of this section to $1.91; (5) Divide the result in paragraph (a)(4) of this section by 480; (6) Round the result in paragraph (a)(5) of this section down to five decimal places to compute the mileage rate. (b) The market administrator shall announce publicly on or before the 23rd day of the month (except as provided in § 1000.90 of this chapter) the mileage rate pursuant to paragraph (a) of this section for the following month. SUPPLEMENTARY INFORMATION: I. Background 12 CFR Part 1238 FHFA is responsible for ensuring that the regulated entities operate in a safe and sound manner, including the maintenance of adequate capital and internal controls, that their operations and activities foster liquid, efficient, competitive, and resilient national housing finance markets, and that they carry out their public policy missions through authorized activities. See 12 U.S.C. 4513. These Supplemental Orders are being issued under 12 U.S.C. 4514(a), which authorizes the Director of FHFA to require by Order that the regulated entities submit regular or special reports to FHFA and establishes remedies and procedures for failing to make reports required by Order. The Supplemental Orders provide to the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation a revised template to use in reporting to the public the severely adverse results of their respective stress tests. [No. 2014–N–7] II. Orders § 1007.82 Payments from the transportation credit balancing fund. Orders: Supplemental Orders on Reporting by Regulated Entities of Stress Testing Results as of September 30, 2013 * AGENCY: For the convenience of the affected parties, the text of the Orders, without appendices, follows below in its entirety. You may access these Orders with Appendices 11 and 12 from FHFA’s Web site at https://www.fhfa.gov/ Media/PublicAffairs/Pages/FHFAIssues-Scenarios-and-Guidance-toFannieMae,-Freddie-Mac-and-theFederal-Home-Loan-Banks-RegardingAnnual-Dodd-Frank-St.aspx. The Orders will be available for public inspection and copying at the Federal Housing Finance Agency, Eighth Floor, 400 Seventh St. SW., Washington, DC 20024. To make an appointment, call (202) 649–3804. The text of the Supplemental Orders is as follows: § 1007.81 Payments to the transportation credit balancing fund. * * * * * (b) The market administrator shall announce publicly on or before the 23rd day of the month (except as provided in § 1000.90 of this chapter) the assessment pursuant to paragraph (a) of this section for the following month. ■ 8. Section 1007.82 is amended by revising paragraphs (d)(2)(ii) and (d)(3)(iv) to read as follows: * * * * (d) * * * (2) * * * (ii) Multiply the number of miles so determined by the mileage rate for the month computed pursuant to § 1007.83(a)(6); * * * * * (3) * * * (iv) Multiply the remaining miles so computed by the mileage rate for the month computed pursuant to § 1007.83(a)(6); * * * * * ■ 9. Revise § 1007.83 to read as follows: TKELLEY on DSK3SPTVN1PROD with RULES § 1007.83 Mileage rate for the transportation credit balancing fund. (a) The market administrator shall compute the mileage rate each month as follows: (1) Compute the simple average rounded to three decimal places for the most recent 4 weeks of the Diesel Price per Gallon as reported by the Energy Information Administration of the United States Department of Energy for the Lower Atlantic and Gulf Coast Districts combined. (2) From the result in paragraph (a)(1) in this section subtract $1.42 per gallon; (3) Divide the result in paragraph (a)(2) of this section by 5.5, and round VerDate Mar<15>2010 16:05 May 01, 2014 Jkt 232001 Dated: April 28, 2014. Rex A. Barnes, Associate Administrator, Agricultural Marketing Service. [FR Doc. 2014–10031 Filed 5–1–14; 8:45 am] BILLING CODE 3410–02–P FEDERAL HOUSING FINANCE AGENCY Federal Housing Finance Agency. ACTION: Orders. In this document, the Federal Housing Finance Agency (FHFA) provides notice that it issued Orders to supplement its Orders dated November 26, 2013 and December 13, 2013, with respect to the Federal National Mortgage Association and Federal Home Loan Mortgage Corporation reporting results under section 165(i)(2) of the DoddFrank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). DATES: Effective May 2, 2014. Each Order is applicable April 28, 2014. FOR FURTHER INFORMATION CONTACT: Naa Awaa Tagoe, Senior Associate Director, Office of Financial Analysis, Modeling and Simulations, (202) 649–3140, naaawaa.tagoe@fhfa.gov; Stefan Szilagyi, Examination Manager, FHLBank Modeling, FHLBank Risk Modeling Branch, (202) 649–3515, stefan.szilagy@fhfa.gov; or Mark D. Laponsky, Deputy General Counsel, Office of General Counsel, (202) 649– 3054 (these are not toll-free numbers), mark.laponsky@fhfa.gov. The telephone number for the Telecommunications Device for the Hearing Impaired is (800) 877–8339. SUMMARY: PO 00000 Frm 00012 Fmt 4700 Sfmt 4700 Federal Housing Finance Agency Order Nos. 2014–OR–FNMA–1, and 2014–OR–FHLMC–1 SUPPLEMENTAL ORDER ON REPORTING BY REGULATED ENTITIES OF STRESS TESTING RESULTS AS OF SEPTEMBER 30, 2013 Whereas, section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (‘‘Dodd-Frank Act’’) requires certain financial companies with total consolidated assets of more than $10 billion, and which are regulated by a primary Federal financial regulatory agency, to conduct annual stress tests to determine whether the companies have the capital E:\FR\FM\02MYR1.SGM 02MYR1 TKELLEY on DSK3SPTVN1PROD with RULES Federal Register / Vol. 79, No. 85 / Friday, May 2, 2014 / Rules and Regulations necessary to absorb losses as a result of adverse economic conditions; Whereas, FHFA’s rule implementing section 165(i)(2) of the Dodd-Frank Act is codified as 12 CFR part 1238 and requires that ‘‘[e]ach regulated entity must file a report in the manner and form established by FHFA.’’ 12 CFR § 1238.5(b); Whereas, on November 26, 2013, FHFA issued an Order to each regulated entity accompanied by appendices numbered 1 through 10 and amended Summary Instructions and Guidance relating to the performance of stress tests as of September 30, 2013, and the reporting of the results of such tests; Whereas, on December 13, 2013, FHFA issued a Supplemental Order to each regulated entity providing two additional appendices for use in reporting stress testing results as of September 30, 2013; Whereas, the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation timely submitted its stress test results pursuant to 12 CFR part 1238 and the implementing Orders, instructions, and guidance; Whereas, after analyzing the results of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation stress testing and the methodologies and practices used in testing, pursuant to 12 CFR § 1238.4(c), FHFA required the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to implement alternative stress testing techniques and exercises before publication of any results; Whereas, FHFA has determined that the Federal National Mortgage Association’s and the Federal Home Loan Mortgage Corporation’s public reporting of the severely adverse results should reflect the alternative techniques and exercises required; and Whereas, section 1314 of the Safety and Soundness Act, 12 U.S.C. § 4514(a) authorizes the Director of FHFA to require regulated entities, by general or specific order, to submit such reports on their management, activities, and operations as the Director considers appropriate. Now Therefore, it is hereby ordered as follows: The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation shall publicly report as required by 12 CFR part 1238 the severely adverse results of the required stress testing using the template provided herewith as Attachment 1. This Order is effective immediately. VerDate Mar<15>2010 16:05 May 01, 2014 Jkt 232001 Signed at Washington, DC, this 28th day of April 2014. Melvin L. Watt, Director, Federal Housing Finance Agency. Dated: April 28, 2014. Melvin L. Watt, Director, Federal Housing Finance Agency. [FR Doc. 2014–10127 Filed 5–1–14; 8:45 am] BILLING CODE 8070–01–P DEPARTMENT OF DEFENSE Department of the Navy 32 CFR Part 706 Certifications and Exemptions Under the International Regulations for Preventing Collisions at Sea, 1972 Department of the Navy, DoD. Final rule. AGENCY: ACTION: The Department of the Navy (DoN) is amending its certifications and exemptions under the International Regulations for Preventing Collisions at Sea, 1972 (72 COLREGS), to reflect that the Deputy Assistant Judge Advocate General (DAJAG) (Admiralty and Maritime Law) has determined that USS NORTH DAKOTA (SSN 784) is a vessel of the Navy which, due to its special construction and purpose, cannot fully comply with certain provisions of the 72 COLREGS without interfering with its special function as a naval ship. The intended effect of this rule is to warn mariners in waters where 72 COLREGS apply. DATES: This rule is effective May 2, 2014 and is applicable beginning April 16, 2014. SUMMARY: FOR FURTHER INFORMATION CONTACT: Lieutenant Jocelyn Loftus-Williams, (Admiralty and Maritime Law), Office of the Judge Advocate General, Department of the Navy, 1322 Patterson Ave. SE., Suite 3000, Washington Navy Yard, DC 20374–5066, telephone 202–685–5040. SUPPLEMENTARY INFORMATION: Pursuant to the authority granted in 33 U.S.C. 1605, the DoN amends 32 CFR Part 706. This amendment provides notice that the DAJAG (Admiralty and Maritime Law), under authority delegated by the Secretary of the Navy, has certified that USS NORTH DAKOTA (SSN 784) is a vessel of the Navy which, due to its special construction and purpose, cannot fully comply with the following specific provisions of 72 COLREGS without interfering with its special function as a naval ship: Annex I, paragraph 2(a)(i), pertaining to the vertical placement of the masthead light; Annex I, Section 2(f)(i), pertaining PO 00000 Frm 00013 Fmt 4700 Sfmt 4700 25007 to Virginia class submarine masthead light location below the submarine identification lights; Annex I, paragraph 2(k), pertaining to the vertical separation of the anchor lights and vertical placement of the forward anchor light above the hull; Rule 30 (a) and Rule 21 (e), pertaining to arc of visibility of the forward and after anchor lights; Annex I, paragraph 3(b), pertaining to the location of the sidelights; and Rule 21(c), pertaining to the location and arc of visibility of the sternlight. The DAJAG (Admiralty and Maritime Law) has also certified that the lights involved are located in closest possible compliance with the applicable 72 COLREGS requirements. Moreover, it has been determined, in accordance with 32 CFR Parts 296 and 701, that publication of this amendment for public comment prior to adoption is impracticable, unnecessary, and contrary to public interest since it is based on technical findings that the placement of lights on this vessel in a manner differently from that prescribed herein will adversely affect the vessel’s ability to perform its military functions. List of Subjects in 32 CFR Part 706 Marine safety, Navigation (water), and Vessels. For the reasons set forth in the preamble, the DoN amends part 706 of title 32 of the Code of Federal Regulations as follows: PART 706—CERTIFICATIONS AND EXEMPTIONS UNDER THE INTERNATIONAL REGULATIONS FOR PREVENTING COLLISIONS AT SEA, 1972 1. The authority citation for part 706 continues to read as follows: ■ Authority: 33 U.S.C. 1605. 2. Section 706.2 is amended as follows: ■ a. In Table One by adding, in alpha numerical order, by vessel number, an entry for USS NORTH DAKOTA (SSN 784); ■ b. In Table Three by adding, in alpha numerical order, by vessel number, an entry for USS NORTH DAKOTA (SSN 784); ■ c. In Table Four, under paragraph 25, add, in alpha numerical order, by vessel number, an entry for USS NORTH DAKOTA (SSN 784); and ■ d. In Table Four, under paragraph 26, add, in alpha numerical order, by vessel number, an entry for USS NORTH DAKOTA (SSN 784). ■ E:\FR\FM\02MYR1.SGM 02MYR1

Agencies

FEDERAL HOUSING FINANCE AGENCY

[Federal Register Volume 79, Number 85 (Friday, May 2, 2014)]
[Rules and Regulations]
[Pages 25006-25007]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-10127]


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FEDERAL HOUSING FINANCE AGENCY

12 CFR Part 1238

[No. 2014-N-7]


Orders: Supplemental Orders on Reporting by Regulated Entities of 
Stress Testing Results as of September 30, 2013

AGENCY: Federal Housing Finance Agency.

ACTION: Orders.

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

SUMMARY: In this document, the Federal Housing Finance Agency (FHFA) 
provides notice that it issued Orders to supplement its Orders dated 
November 26, 2013 and December 13, 2013, with respect to the Federal 
National Mortgage Association and Federal Home Loan Mortgage 
Corporation reporting results under section 165(i)(2) of the Dodd-Frank 
Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

DATES: Effective May 2, 2014. Each Order is applicable April 28, 2014.

FOR FURTHER INFORMATION CONTACT: Naa Awaa Tagoe, Senior Associate 
Director, Office of Financial Analysis, Modeling and Simulations, (202) 
649-3140, naaawaa.tagoe@fhfa.gov; Stefan Szilagyi, Examination Manager, 
FHLBank Modeling, FHLBank Risk Modeling Branch, (202) 649-3515, 
stefan.szilagy@fhfa.gov; or Mark D. Laponsky, Deputy General Counsel, 
Office of General Counsel, (202) 649-3054 (these are not toll-free 
numbers), mark.laponsky@fhfa.gov. The telephone number for the 
Telecommunications Device for the Hearing Impaired is (800) 877-8339.

SUPPLEMENTARY INFORMATION:

I. Background

    FHFA is responsible for ensuring that the regulated entities 
operate in a safe and sound manner, including the maintenance of 
adequate capital and internal controls, that their operations and 
activities foster liquid, efficient, competitive, and resilient 
national housing finance markets, and that they carry out their public 
policy missions through authorized activities. See 12 U.S.C. 4513. 
These Supplemental Orders are being issued under 12 U.S.C. 4514(a), 
which authorizes the Director of FHFA to require by Order that the 
regulated entities submit regular or special reports to FHFA and 
establishes remedies and procedures for failing to make reports 
required by Order. The Supplemental Orders provide to the Federal 
National Mortgage Association and the Federal Home Loan Mortgage 
Corporation a revised template to use in reporting to the public the 
severely adverse results of their respective stress tests.

II. Orders

    For the convenience of the affected parties, the text of the 
Orders, without appendices, follows below in its entirety. You may 
access these Orders with Appendices 11 and 12 from FHFA's Web site at 
https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Issues-Scenarios-and-Guidance-to-FannieMae,-Freddie-Mac-and-the-Federal-Home-Loan-Banks-Regarding-Annual-Dodd-Frank-St.aspx. The Orders will be available for 
public inspection and copying at the Federal Housing Finance Agency, 
Eighth Floor, 400 Seventh St. SW., Washington, DC 20024. To make an 
appointment, call (202) 649-3804.
    The text of the Supplemental Orders is as follows:

Federal Housing Finance Agency

Order Nos. 2014-OR-FNMA-1, and 2014-OR-FHLMC-1

SUPPLEMENTAL ORDER ON REPORTING BY REGULATED ENTITIES OF STRESS TESTING 
RESULTS AS OF SEPTEMBER 30, 2013

    Whereas, section 165(i)(2) of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act (``Dodd-Frank Act'') requires certain financial 
companies with total consolidated assets of more than $10 billion, and 
which are regulated by a primary Federal financial regulatory agency, 
to conduct annual stress tests to determine whether the companies have 
the capital

[[Page 25007]]

necessary to absorb losses as a result of adverse economic conditions;
    Whereas, FHFA's rule implementing section 165(i)(2) of the Dodd-
Frank Act is codified as 12 CFR part 1238 and requires that ``[e]ach 
regulated entity must file a report in the manner and form established 
by FHFA.'' 12 CFR Sec.  1238.5(b);
    Whereas, on November 26, 2013, FHFA issued an Order to each 
regulated entity accompanied by appendices numbered 1 through 10 and 
amended Summary Instructions and Guidance relating to the performance 
of stress tests as of September 30, 2013, and the reporting of the 
results of such tests;
    Whereas, on December 13, 2013, FHFA issued a Supplemental Order to 
each regulated entity providing two additional appendices for use in 
reporting stress testing results as of September 30, 2013;
    Whereas, the Federal National Mortgage Association and the Federal 
Home Loan Mortgage Corporation timely submitted its stress test results 
pursuant to 12 CFR part 1238 and the implementing Orders, instructions, 
and guidance;
    Whereas, after analyzing the results of the Federal National 
Mortgage Association and the Federal Home Loan Mortgage Corporation 
stress testing and the methodologies and practices used in testing, 
pursuant to 12 CFR Sec.  1238.4(c), FHFA required the Federal National 
Mortgage Association and the Federal Home Loan Mortgage Corporation to 
implement alternative stress testing techniques and exercises before 
publication of any results;
    Whereas, FHFA has determined that the Federal National Mortgage 
Association's and the Federal Home Loan Mortgage Corporation's public 
reporting of the severely adverse results should reflect the 
alternative techniques and exercises required; and
    Whereas, section 1314 of the Safety and Soundness Act, 12 U.S.C. 
Sec.  4514(a) authorizes the Director of FHFA to require regulated 
entities, by general or specific order, to submit such reports on their 
management, activities, and operations as the Director considers 
appropriate.
    Now Therefore, it is hereby ordered as follows:
    The Federal National Mortgage Association and the Federal Home Loan 
Mortgage Corporation shall publicly report as required by 12 CFR part 
1238 the severely adverse results of the required stress testing using 
the template provided herewith as Attachment 1.
    This Order is effective immediately.

    Signed at Washington, DC, this 28th day of April 2014.
Melvin L. Watt,
Director, Federal Housing Finance Agency.
    Dated: April 28, 2014.
Melvin L. Watt,
Director, Federal Housing Finance Agency.
[FR Doc. 2014-10127 Filed 5-1-14; 8:45 am]
BILLING CODE 8070-01-P

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