Orders: Reporting by Regulated Entities of Stress Testing Results as of September 30, 2014, 35188-35191 [2015-15194]

Download as PDF 35188 Federal Register / Vol. 80, No. 118 / Friday, June 19, 2015 / Rules and Regulations parental status, income derived from a public assistance program, or political beliefs, exclude from participation in, deny the benefits of, or subject to discrimination any person in the United States under any program or activity conducted by the USDA. To file a complaint of discrimination, complete the USDA Program Discrimination Complaint Form, which may be accessed online at https:// www.ocio.usda.gov/sites/default/files/ docs/2012/Complain_combined_6_8_ 12.pdf, or write a letter signed by you or your authorized representative. Send your completed complaint form or letter to USDA by mail, fax, or email: Mail: U.S. Department of Agriculture, Director, Office of Adjudication, 1400 Independence Avenue SW., Washington, DC 20250–9410. Fax: (202)690–7442. Email program.intake@usda.gov. Persons with disabilities who require alternative means for communication (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at (202)720–2600 (voice and TDD). rmajette on DSK2TPTVN1PROD with RULES Additional Public Notification Public awareness of all segments of rulemaking and policy development is important. Consequently, FSIS will announce this Federal Register publication on-line through the FSIS Web page located at: https:// www.fsis.usda.gov/federal-register. FSIS also will make copies of this publication available through the FSIS Constituent Update, which is used to provide information regarding FSIS policies, procedures, regulations, Federal Register notices, FSIS public meetings, and other types of information that could affect or would be of interest to our constituents and stakeholders. The Update is available on the FSIS Web page. Through the Web page, FSIS is able to provide information to a much broader, more diverse audience. In addition, FSIS offers an email subscription service which provides automatic and customized access to selected food safety news and information. This service is available at: https://www.fsis.usda.gov/subscribe. Options range from recalls to export information, regulations, directives, and notices. Customers can add or delete subscriptions themselves, and have the option to password protect their accounts. List of Subjects in 9 CFR Part 430 Food labeling, Meat inspection, Poultry and poultry products inspection. For the reasons set forth in the preamble, FSIS is adopting as final the VerDate Sep<11>2014 15:11 Jun 18, 2015 Jkt 235001 interim final rule that amended Title 9, Chapter III, of the Code of Federal Regulations and that was published at 68 FR 34208 on June 6, 2003, with the following amendments: PART 430—REQUIREMENTS FOR SPECIFIC CLASSES OF PRODUCT 1. The authority citation for part 430 continues to read as follows: ■ Authority: 7 U.S.C. 450; 7 U.S.C. 1901– 1906; 21 U.S.C. 451–470, 601–695; 7 CFR 2.18, 2.53. 2. Amend § 430.4 by: a. Revising paragraph (a). b. Revising paragraph (b)(2)(iii)(B). c. Revising paragraph (b)(3)(i)(B). d. Revising paragraphs (b)(3)(ii)(B) and (C). ■ e. Removing and reserving paragraph (d). The revisions read as follows: ■ ■ ■ ■ ■ § 430.4 Control of Listeria monocytogenes in post-lethality exposed ready-to-eat products. (a) Listeria monocytogenes can contaminate RTE products that are exposed to the environment after they have undergone a lethality treatment. L. monocytogenes is a hazard that an establishment producing post-lethality exposed RTE products must control through its HACCP plan or prevent in the processing environment through a Sanitation SOP or other prerequisite program. RTE product is adulterated if it contains L. monocytogenes, or if it comes into direct contact with a food contact surface that is contaminated with L. monocytogenes. Establishments must not release into commerce product that contains L. monocytogenes or that has been in contact with a food contact surface contaminated with L. monocytogenes without first reworking the product using a process that is destructive of L. monocytogenes. (b) * * * (2) * * * (iii) * * * (B) Identify the conditions under which the establishment will implement hold-and-test procedures following a positive test of a food-contact surface for an indicator organism; * * * * * (3) * * * (i) * * * (B) Identify the conditions under which the establishment will implement hold-and-test procedures following a positive test of a food-contact surface for an indicator organism; * * * * * (ii) * * * (B) During this follow-up testing, if the establishment obtains a second PO 00000 Frm 00012 Fmt 4700 Sfmt 4700 positive test for an indicator organism, the establishment must hold lots of product that may have become contaminated by contact with the food contact surface until the establishment corrects the problem indicated by the test result. (C) In order to release into commerce product held under this section, the establishment must sample and test the lots for L. monocytogenes or an indicator organism using a sampling method and frequency that will provide a level of statistical confidence that ensures that each lot is not adulterated with L. monocytogenes. The establishment must document the results of this testing. Alternatively, the establishment may rework the held product using a process that is destructive of L. monocytogenes or the indicator organism. * * * * * Done, at Washington, DC: May 29, 2015. Alfred V. Almanza, Acting Administrator. [FR Doc. 2015–13507 Filed 6–18–15; 8:45 am] BILLING CODE 3410–DM–P FEDERAL HOUSING FINANCE AGENCY 12 CFR Part 1238 [No. 2015–N–04] Orders: Reporting by Regulated Entities of Stress Testing Results as of September 30, 2014 Federal Housing Finance Agency. ACTION: Orders. AGENCY: In this document, the Federal Housing Finance Agency (FHFA) provides notice that it issued Orders dated June 10, 2015, with respect to reporting under section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). SUMMARY: Effective June 19, 2015. Each Order is applicable beginning June 10, 2015. 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), DATES: E:\FR\FM\19JNR1.SGM 19JNR1 Federal Register / Vol. 80, No. 118 / Friday, June 19, 2015 / Rules and Regulations 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. This Order is 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 Order directs the Banks to use a revised public disclosure template for publicly disclosing the severely adverse stress testing scenario results as of September 30, 2014. The revised template replaces the template initially issued on November 14, 2014 and will enhance the transparency of each Bank’s public disclosure. II. Orders rmajette on DSK2TPTVN1PROD with RULES For the convenience of the affected parties, the text of the Order, without the accompanying Summary Instructions and Guidance and appendices, follows below in its entirety. You may access this Order with all of the accompanying material from FHFA’s Web site at: https:// www.fhfa.gov/Media/PublicAffairs/ Pages/FHFA-Issues-Scenarios-andGuidance-to-FannieMae,-Freddie-Macand-the-Federal-Home-Loan-BanksRegarding-Annual-Dodd-Frank-St.aspx. VerDate Sep<11>2014 15:11 Jun 18, 2015 Jkt 235001 The Order, new public disclosure template (Attachment 1), and Summary Instructions and Guidance 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 Order is as follows: Federal Housing Finance Agency Order No. 2015–OR–B–1 Supplemental Order on Reporting by Regulated Entities of Stress Testing Results as of September 30, 2014 Whereas, pursuant to the Federal Housing Finance Agency’s (FHFA) regulation implementing section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act requiring each regulated entity to conduct stress tests to determine whether it has the capital necessary to absorb losses resulting from adverse economic conditions and report the results ‘‘in the manner and form established by FHFA,’’ 12 CFR 1238.5(b); and 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); and Whereas, FHFA’s regulation requires that each regulated entity ‘‘disclose publicly a summary of the stress test results for the severely adverse scenario,’’ 12 CFR 1238.7; and Whereas, on November 14, 2014, FHFA issued to each regulated entity scenarios for stress testing as of September 30, 2014, and on December 1, 2014, issued Orders to each regulated entity together with Summary Instructions and Guidance with prescribed templates for completing, PO 00000 Frm 00013 Fmt 4700 Sfmt 4700 35189 reporting, and disclosing the stress test results; and Whereas, each Federal Home Loan Bank timely filed its report of stress test results on or before April 30, 2015, as required by 12 CFR 1238.5; and Whereas, after analyzing the results of each Federal Home Loan Bank’s stress testing and the methodologies and practices used therein, FHFA has determined that the original template designed for public disclosure of the summary of each Bank’s severely adverse scenario results that accompanied the Orders of December 1, 2014, should be revised; and Whereas, section 1314 of the Federal Housing Enterprises Financial Safety and Soundness Act, as amended, 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: Each Federal Home Loan Bank shall publicly disclose and report, as required by 12 CFR part 1238, a summary of the severely adverse scenario results of its stress testing using the template provided herewith as the attachment entitled ‘‘FHLBank Dodd-Frank Stress Test Template—SEVERLY ADVERSE (Disclosure to the Public).’’ It is so ordered, this 10th day of June 2015. This Order is effective immediately. Signed at Washington, DC, this 10th day of June, 2015. Melvin L. Watt, Director, Federal Housing Finance Agency. Dated: June 10, 2015. Melvin L. Watt, Director, Federal Housing Finance Agency. BILLING CODE 8070–01–P E:\FR\FM\19JNR1.SGM 19JNR1 rmajette on DSK2TPTVN1PROD with RULES 35190 VerDate Sep<11>2014 Jkt 235001 PO 00000 Cumulative Projected Financial Metrics (Q4 2014- Q4 2016) Frm 00014 1 Net interest income + other non-interest income, net 2 (Provision) benefit for credit losses on mortgage loans Fmt 4700 3 OTTI credit losses 4 Mark-to-market gains (losses) Sfmt 9990 5 Global market shock impact on trading securities E:\FR\FM\19JNR1.SGM 6 Counterparty default losses 7 AHIP assessments 8 Net income (loss) 9 Other comprehensive income (loss) 19JNR1 10 Total comprehensive income (loss) 11 Total capital (GAAP)- starting 12 Total capital (GAAIP) -ending 13 Regulatory capital r:atio - starting 14 Regulatory capital r:atio - ending ER19JN15.001</GPH> Federal Register / Vol. 80, No. 118 / Friday, June 19, 2015 / Rules and Regulations 15:11 Jun 18, 2015 FHLBank Dodd-Frank Stress Test Template - SEVERELY ADVERSE (Disclosure to the Public) Federal Register / Vol. 80, No. 118 / Friday, June 19, 2015 / Rules and Regulations [FR Doc. 2015–15194 Filed 6–18–15; 8:45 am] BILLING CODE 8070–01–C DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 14 CFR Part 39 [Docket No. FAA–2015–0266; Directorate Identifier 2015–NE–03–AD; Amendment 39– 18185; AD 2015–12–10] RIN 2120–AA64 Airworthiness Directives; Pratt & Whitney Division Turbofan Engines Federal Aviation Administration (FAA), DOT. ACTION: Final rule; request for comments. AGENCY: We are adopting a new airworthiness directive (AD) for all Pratt & Whitney Division (PW) PW6122A and PW6124A turbofan engines. This AD requires initial and repetitive borescope inspections (BSIs) of the high-pressure compressor (HPC) 7th stage integrally bladed (IB) rotor aft integral arm for cracks until replacement of the HPC 7th stage IB rotor using non-silver-plated nuts. This AD was prompted by reports of crack finds in the HPC 7th stage IB rotor. We are issuing this AD to prevent HPC 7th stage IB rotor fractures, which could lead to uncontained engine failure and damage to the airplane. DATES: This AD is effective July 6, 2015. The Director of the Federal Register approved the incorporation by reference of certain publications listed in this AD as of July 6, 2015. We must receive comments on this AD by August 3, 2015. ADDRESSES: You may send comments, using the procedures found in 14 CFR 11.43 and 11.45, by any of the following methods: • Federal eRulemaking Portal: Go to https://www.regulations.gov. Follow the instructions for submitting comments. • Fax: 202–493–2251. • Mail: U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue SE., Washington, DC 20590. • Hand Delivery: U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue SE., Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. For service information identified in this AD, contact Pratt & Whitney, 400 Main St., East Hartford, CT 06108; rmajette on DSK2TPTVN1PROD with RULES SUMMARY: VerDate Sep<11>2014 15:11 Jun 18, 2015 Jkt 235001 phone: 860–565–8770; fax: 860–565– 4503. You may view this service information at the FAA, Engine & Propeller Directorate, 12 New England Executive Park, Burlington, MA. For information on the availability of this material at the FAA, call 781–238–7125. It is also available on the Internet at https://www.regulations.gov by searching for and locating Docket No. FAA–2015– 0266. Examining the AD Docket You may examine the AD docket on the Internet at https:// www.regulations.gov by searching for and locating Docket No. FAA–2015– 0266; or in person at the Docket Management Facility between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. The AD docket contains this AD, the regulatory evaluation, any comments received, and other information. The street address for the Docket Office (phone: 800–647– 5527) is in the ADDRESSES section. Comments will be available in the AD docket shortly after receipt. FOR FURTHER INFORMATION CONTACT: Wego Wang, Aerospace Engineer, Engine Certification Office, FAA, Engine & Propeller Directorate, 12 New England Executive Park, Burlington, MA 01803; phone: 781–238–7134; fax: 781–238– 7199; email: wego.wang@faa.gov. SUPPLEMENTARY INFORMATION: Discussion We received reports of cracks in the PW6122A and the PW6124A HPC 7th stage IB rotor aft integral arm. The root cause is the presence of silver-plated nuts reacting with hot titanium in a high sulfur/high chlorine environment. This AD requires initial and repetitive BSIs of the HPC 7th stage IB rotor. This AD also requires, as terminating action, replacement of the HPC 7th stage IB rotor and HPC 7th stage IB rotor silverplated nuts with non-silver-plated nuts. This condition, if not corrected, could result in HPC 7th stage IB rotor fractures. We are issuing this AD to prevent HPC 7th stage IB rotor fractures, which could lead to uncontained engine failure and damage to the airplane. Related Service Information Under 1 CFR Part 51 We reviewed PW Engineering Authorization (EA) No. 15MM008, Revision A, dated March 24, 2015. We also reviewed PW Service Bulletin (SB) No. PW6ENG 72–46, dated March 5, 2015. The EA describes procedures for BSIs of the HPC 7th stage IB rotor aft integral arm for cracks using the splitcase method. The SB describes removal and replacement of the HPC 7th stage IB PO 00000 Frm 00015 Fmt 4700 Sfmt 4700 35191 rotor, removal of the HPC 7th stage IB rotor silver-plated nuts, and the installation of non-silver plated nuts. This service information is reasonably available because the interested parties have access to it through their normal course of business or by the means identified in the ADDRESSES section of this AD. FAA’s Determination We are issuing this AD because we evaluated all the relevant information and determined the unsafe condition described previously is likely to exist or develop in other products of the same type design. AD Requirements This AD requires initial and repetitive BSIs of the HPC 7th stage IB rotor. This AD also requires as terminating action to replace the HPC 7th stage IB rotor and HPC 7th stage IB rotor silver-plated nuts with non-silver-plated nuts. FAA’s Justification and Determination of the Effective Date No domestic operators use this product. Therefore, we find that notice and opportunity for prior public comment are unnecessary and that good cause exists for making this amendment effective in less than 30 days. Comments Invited This AD is a final rule that involves requirements affecting flight safety and was not preceded by notice and an opportunity for public comment. However, we invite you to send any written data, views, or arguments about this AD. Send your comments to an address listed under the ADDRESSES section. Include ‘‘Docket No. FAA– 2015–0266; Directorate Identifier 2015– NE–03–AD’’ at the beginning of your comments. We specifically invite comments on the overall regulatory, economic, environmental, and energy aspects of this AD. We will consider all comments received by the closing date and may amend this AD because of those comments. We will post all comments we receive, without change, to https:// www.regulations.gov, including any personal information you provide. We will also post a report summarizing each substantive verbal contact we receive about this AD. Costs of Compliance We estimate that this AD will affect 0 engines installed on airplanes of U.S. registry. We also estimate that it would take about 8 hours per engine to comply with this AD. The average labor rate is $85 per hour. Based on these figures, we E:\FR\FM\19JNR1.SGM 19JNR1

Agencies

[Federal Register Volume 80, Number 118 (Friday, June 19, 2015)]
[Rules and Regulations]
[Pages 35188-35191]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-15194]


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FEDERAL HOUSING FINANCE AGENCY

12 CFR Part 1238

[No. 2015-N-04]


Orders: Reporting by Regulated Entities of Stress Testing Results 
as of September 30, 2014

AGENCY: Federal Housing Finance Agency.

ACTION: Orders.

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

SUMMARY: In this document, the Federal Housing Finance Agency (FHFA) 
provides notice that it issued Orders dated June 10, 2015, with respect 
to reporting under section 165(i)(2) of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act (Dodd-Frank Act).

DATES: Effective June 19, 2015. Each Order is applicable beginning June 
10, 2015.

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),

[[Page 35189]]

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. This 
Order is 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 Order 
directs the Banks to use a revised public disclosure template for 
publicly disclosing the severely adverse stress testing scenario 
results as of September 30, 2014. The revised template replaces the 
template initially issued on November 14, 2014 and will enhance the 
transparency of each Bank's public disclosure.

II. Orders

    For the convenience of the affected parties, the text of the Order, 
without the accompanying Summary Instructions and Guidance and 
appendices, follows below in its entirety. You may access this Order 
with all of the accompanying material 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 Order, new public disclosure 
template (Attachment 1), and Summary Instructions and Guidance 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 Order is as follows:

Federal Housing Finance Agency

Order No. 2015-OR-B-1

Supplemental Order on Reporting by Regulated Entities of Stress Testing 
Results as of September 30, 2014
    Whereas, pursuant to the Federal Housing Finance Agency's (FHFA) 
regulation implementing section 165(i)(2) of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act requiring each regulated entity to 
conduct stress tests to determine whether it has the capital necessary 
to absorb losses resulting from adverse economic conditions and report 
the results ``in the manner and form established by FHFA,'' 12 CFR 
1238.5(b); and
    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); and
    Whereas, FHFA's regulation requires that each regulated entity 
``disclose publicly a summary of the stress test results for the 
severely adverse scenario,'' 12 CFR 1238.7; and
    Whereas, on November 14, 2014, FHFA issued to each regulated entity 
scenarios for stress testing as of September 30, 2014, and on December 
1, 2014, issued Orders to each regulated entity together with Summary 
Instructions and Guidance with prescribed templates for completing, 
reporting, and disclosing the stress test results; and
    Whereas, each Federal Home Loan Bank timely filed its report of 
stress test results on or before April 30, 2015, as required by 12 CFR 
1238.5; and
    Whereas, after analyzing the results of each Federal Home Loan 
Bank's stress testing and the methodologies and practices used therein, 
FHFA has determined that the original template designed for public 
disclosure of the summary of each Bank's severely adverse scenario 
results that accompanied the Orders of December 1, 2014, should be 
revised; and
    Whereas, section 1314 of the Federal Housing Enterprises Financial 
Safety and Soundness Act, as amended, 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:
    Each Federal Home Loan Bank shall publicly disclose and report, as 
required by 12 CFR part 1238, a summary of the severely adverse 
scenario results of its stress testing using the template provided 
herewith as the attachment entitled ``FHLBank Dodd-Frank Stress Test 
Template--SEVERLY ADVERSE (Disclosure to the Public).''
    It is so ordered, this 10th day of June 2015.
    This Order is effective immediately.

    Signed at Washington, DC, this 10th day of June, 2015.

Melvin L. Watt,
Director, Federal Housing Finance Agency.


    Dated: June 10, 2015.
Melvin L. Watt,
Director, Federal Housing Finance Agency.
 BILLING CODE 8070-01-P

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[FR Doc. 2015-15194 Filed 6-18-15; 8:45 am]
 BILLING CODE 8070-01-C
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