Notice of Availability of Revised Methodology for Determining Average Prime Offer Rates, 52831 [2016-18899]

Download as PDF mstockstill on DSK3G9T082PROD with NOTICES Federal Register / Vol. 81, No. 154 / Wednesday, August 10, 2016 / Notices connected to a secondary Federal action (also called a connected action under NEPA), to consider authorizing incidental take of marine mammals under the MMPA, NMFS must identify as part of this evaluation ‘‘(t)he means of effecting the least practicable adverse impact on the species or stock and its habitat.’’ (Section 101(a)(5)(A) of the MMPA [16 U.S.C. 1361 et seq.]). NMFS must therefore identify and evaluate a reasonable range of mitigation measures to minimize impacts to protected species that occur in AFSC research areas. These mitigation measures are considered as part of the identified alternatives in order to evaluate their effectiveness to minimize potential adverse environmental impacts. The three action alternatives also include mitigation measures intended to minimize potentially adverse interactions with other protected species that occur within the action area. Protected species include all marine mammals, which are covered under the MMPA, all species listed under the ESA, and bird species protected under the Migratory Bird Treaty Act. NMFS is also evaluating a second type of no-action alternative that considers no Federal funding for field fisheries and ecosystem research activities. This is called the No Research Alternative to distinguish it from the No-Action/Status Quo Alternative. The No-Action/Status Quo Alternative will be used as the baseline to compare all of the other alternatives. Potential direct and indirect effects on the environment are evaluated under each alternative in the DPEA. The environmental effects on the following resources are considered: Physical environment, special resource areas, fish, marine mammals, birds, invertebrates, and the social and economic environment. Cumulative effects of external actions and the contribution of fisheries and ecosystem research activities to the overall cumulative impact on the aforementioned resources is also evaluated in the DPEA for the three main geographic regions in which AFSC surveys are conducted. NMFS requests comments on the DPEA for Fisheries and Ecosystem Research Conducted and Funded by the National Marine Fisheries Service, Alaska Fisheries Science Center. Through this notice, NMFS is notifying the public that a DPEA is available for review so that interested or affected people may participate and contribute to the final decision. NMFS is seeking written public comments on the scope of issues, potential impacts, and VerDate Sep<11>2014 17:34 Aug 09, 2016 Jkt 238001 alternatives considered in the DPEA. Written comments will be accepted at the address above (see ADDRESSES). Written comments should be as specific as possible to be the most helpful. Written comments received, including the names and addresses of those submitting them, will be considered part of the public record for this proposed action and will be available for public inspection. Please include, with your comments, any supporting data or literature citations that may be informative in substantiating your comment. Dated: August 1, 2016. Douglas P. DeMaster, Director, Alaska Fisheries Science Center, National Marine Fisheries Service. [FR Doc. 2016–19002 Filed 8–9–16; 8:45 am] BILLING CODE 3510–22–P BUREAU OF CONSUMER FINANCIAL PROTECTION Notice of Availability of Revised Methodology for Determining Average Prime Offer Rates Bureau of Consumer Financial Protection. ACTION: Notice of availability. AGENCY: The Bureau of Consumer Financial Protection (Bureau) announces the availability of a revised methodology statement, entitled the ‘‘Methodology for Determining Average Prime Offer Rates.’’ The methodology statement describes the data and the methodology used to calculate average prime offer rates for purposes of Regulation C and Regulation Z. The statement has been revised to reflect the fact that the Bureau is using a different source of survey data for the one-year variable rate mortgage product to calculate average prime offer rates. ADDRESSES: The revised methodology statement is available on the Web site of the Federal Financial Institutions Examination Council (FFIEC) at https:// www.ffiec.gov/ratespread/ newcalchelp.aspx#4. FOR FURTHER INFORMATION CONTACT: Terry J. Randall, Counsel, Office of Regulations, at 202–435–7700. SUPPLEMENTARY INFORMATION: The average prime offer rates (APORs) are annual percentage rates derived from average interest rates, points, and other loan pricing terms offered to borrowers by a representative sample of lenders for mortgage loans that have low-risk pricing characteristics. APORs have implications for data reporters under Regulation C and creditors under SUMMARY: PO 00000 Frm 00022 Fmt 4703 Sfmt 4703 52831 Regulation Z. Regulation C requires covered financial institutions to report, for certain transactions, the difference between a loan’s annual percentage rate (APR) and the APOR for a comparable transaction.1 Under Regulation Z, a creditor may be subject to certain special provisions if the difference between a loan’s APR and the APOR for a comparable transaction exceeds certain thresholds.2 The Bureau calculates APORs on a weekly basis according to a methodology statement that is available to the public. The Bureau has revised the methodology statement to reflect a change in the source of survey data for the one-year variable rate mortgage product that it began using to calculate the weekly APORs on July 7, 2016. The Freddie Mac Primary Mortgage Market Survey® (PMMS) previously provided survey data for that mortgage product that, together with data for other products from the same survey, has been used to calculate the weekly APORs. Freddie Mac has discontinued publishing the one-year variable rate mortgage data. Beginning on July 7, 2016, the Bureau started using data provided by HSH Associates for the oneyear variable rate mortgage product to calculate the weekly APORs, while continuing to derive the other data used by the methodology from the PMMS. The Bureau has revised the methodology statement in light of that change. No other substantive changes have been made to the methodology statement. Dated: August 2, 2016. Richard Cordray, Director, Bureau of Consumer Financial Protection. [FR Doc. 2016–18899 Filed 8–9–16; 8:45 am] BILLING CODE 4810–AM–P DEPARTMENT OF DEFENSE Department of the Army [Docket ID: USA–2016–HQ–0028] Privacy Act of 1974; System of Records Department of the Army, DoD. Notice to alter a system of AGENCY: ACTION: records. The Department of the Army proposes to alter a system of records notice A0690–600 SAMR, entitled ‘‘Equal Opportunity and Equal Employment Opportunity Complaint SUMMARY: 1 12 2 12 E:\FR\FM\10AUN1.SGM CFR 1003.4(a)(12)(i). CFR 1026.35(a) and 1026.32(a)(1)(i). 10AUN1

Agencies

[Federal Register Volume 81, Number 154 (Wednesday, August 10, 2016)]
[Notices]
[Page 52831]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-18899]


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BUREAU OF CONSUMER FINANCIAL PROTECTION


Notice of Availability of Revised Methodology for Determining 
Average Prime Offer Rates

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice of availability.

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SUMMARY: The Bureau of Consumer Financial Protection (Bureau) announces 
the availability of a revised methodology statement, entitled the 
``Methodology for Determining Average Prime Offer Rates.'' The 
methodology statement describes the data and the methodology used to 
calculate average prime offer rates for purposes of Regulation C and 
Regulation Z. The statement has been revised to reflect the fact that 
the Bureau is using a different source of survey data for the one-year 
variable rate mortgage product to calculate average prime offer rates.

ADDRESSES: The revised methodology statement is available on the Web 
site of the Federal Financial Institutions Examination Council (FFIEC) 
at https://www.ffiec.gov/ratespread/newcalchelp.aspx#4.

FOR FURTHER INFORMATION CONTACT: Terry J. Randall, Counsel, Office of 
Regulations, at 202-435-7700.

SUPPLEMENTARY INFORMATION: The average prime offer rates (APORs) are 
annual percentage rates derived from average interest rates, points, 
and other loan pricing terms offered to borrowers by a representative 
sample of lenders for mortgage loans that have low-risk pricing 
characteristics. APORs have implications for data reporters under 
Regulation C and creditors under Regulation Z. Regulation C requires 
covered financial institutions to report, for certain transactions, the 
difference between a loan's annual percentage rate (APR) and the APOR 
for a comparable transaction.\1\ Under Regulation Z, a creditor may be 
subject to certain special provisions if the difference between a 
loan's APR and the APOR for a comparable transaction exceeds certain 
thresholds.\2\
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    \1\ 12 CFR 1003.4(a)(12)(i).
    \2\ 12 CFR 1026.35(a) and 1026.32(a)(1)(i).
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    The Bureau calculates APORs on a weekly basis according to a 
methodology statement that is available to the public. The Bureau has 
revised the methodology statement to reflect a change in the source of 
survey data for the one-year variable rate mortgage product that it 
began using to calculate the weekly APORs on July 7, 2016. The Freddie 
Mac Primary Mortgage Market Survey[supreg] (PMMS) previously provided 
survey data for that mortgage product that, together with data for 
other products from the same survey, has been used to calculate the 
weekly APORs. Freddie Mac has discontinued publishing the one-year 
variable rate mortgage data. Beginning on July 7, 2016, the Bureau 
started using data provided by HSH Associates for the one-year variable 
rate mortgage product to calculate the weekly APORs, while continuing 
to derive the other data used by the methodology from the PMMS. The 
Bureau has revised the methodology statement in light of that change. 
No other substantive changes have been made to the methodology 
statement.

    Dated: August 2, 2016.
Richard Cordray,
Director, Bureau of Consumer Financial Protection.
[FR Doc. 2016-18899 Filed 8-9-16; 8:45 am]
 BILLING CODE 4810-AM-P