Departmental Offices; Interest Rate Paid on Cash Deposited To Secure U.S. Immigration and Customs Enforcement Immigration Bonds, 46890-46891 [2017-21524]

Download as PDF asabaliauskas on DSKBBXCHB2PROD with NOTICES 46890 Federal Register / Vol. 82, No. 193 / Friday, October 6, 2017 / Notices recognized in earnings’’ as defined in FFIEC 031 and FFIEC 041 Schedule RI, Memorandum item 14, and FR Y–9C Schedule HI, Memorandum item 17. (2) On the FFIEC 031 and FFIEC 041 Schedule RC–E, Part I, Memorandum items 1.c.(1), ‘‘Brokered deposits of less than $100,000,’’ and 1.c.(2), ‘‘Brokered deposits of $100,000 through $250,000 and certain brokered retirement deposit accounts,’’ were combined into a single item, Memorandum item 1.c, ‘‘Brokered deposits of $250,000 or less (fully insured brokered deposits).’’ The agencies propose for the new FFIEC 016 report form and instructions to align its Balance Sheet line items 32 and 33 for retail and wholesale funding calculations, respectively, with the updated FFIEC 031 and FFIEC 041 Schedule RC–E, Part I, Memorandum item 1.c, ‘‘Brokered deposits of $250,000 or less (fully insured brokered deposits).’’ (3) On Schedule RC–M of the FFIEC 031 and FFIEC 041, items for the amount of loans covered by FDIC losssharing agreements in the following loan categories were removed and combined with existing Schedule RC– M, item 13.a.(5), ‘‘All other loans and all leases’’ covered by such agreements: Item 13.a.(2), ‘‘Loans to finance agricultural production and other loans to farmers’’; item 13.a.(3), ‘‘Commercial and industrial loans’’; item 13.a.(4)(a), ‘‘Credit cards’’; item 13.a.(4)(b), ‘‘Automobile loans’’; and item 13.a.(4)(c), ‘‘Other (includes revolving credit plans other than credit cards, and other consumer loans).’’ In order to keep the data collection uniform and comparable across types of reporting institutions, the agencies propose for the new FFIEC 016 report form and instructions to discontinue the deduction of loans covered by FDIC loss-sharing agreements from each of the loan categories collected in Balance Sheet line items 1 through 13. In addition, in the proposed new FFIEC 016 report form, existing Balance Sheet line item 14, ‘‘Loans covered by FDIC loss-sharing agreements,’’ will be retained. In addition, the agencies are proposing to have reporting institutions provide their LEI on the FFIEC 016 report form, if they have one. The LEI is a 20-digit alpha-numeric code that uniquely identifies entities that engage in financial transactions. The recent financial crisis spurred the development of a Global LEI System (GLEIS). Internationally, regulators and market participants have recognized the importance of the LEI as a key improvement in financial data systems. The Group of Twenty (G–20) nations VerDate Sep<11>2014 18:40 Oct 05, 2017 Jkt 244001 directed the Financial Stability Board (FSB) to lead the coordination of international regulatory work and deliver concrete recommendations on the GLEIS by mid-2012, which in turn were endorsed by the G–20 later that same year. In January 2013, the LEI Regulatory Oversight Committee (ROC), including participation by regulators from around the world, was established to oversee the GLEIS on an interim basis. With the establishment of the full Global LEI Foundation in 2014, the ROC continues to review and develop broad policy standards for LEIs. The OCC, the Board, and the FDIC are all members of the ROC. The LEI system is designed to facilitate several financial stability objectives, including the provision of higher quality and more accurate financial data. In the United States, the Financial Stability Oversight Council (FSOC) has recommended that regulators and market participants continue to work together to improve the quality and comprehensiveness of financial data both nationally and globally. In this regard, the FSOC also has recommended that its member agencies promote the use of the LEI in reporting requirements and rulemakings, where appropriate.4 With respect to the FFIEC 016, the agencies are proposing to have reporting institutions provide their LEI on the cover page of this new report once it is implemented, if a reporting institution has an LEI. A reporting institution that does not have an LEI would not be required to obtain one for purposes of reporting it on the FFIEC 016. The uniform FFIEC 016 report would be collected through the application currently used to collect the agencies’ separate stress test reporting forms, the Federal Reserve’s Reporting Central application. The agencies believe that developing a uniform report under the FFIEC reporting structure will promote uniform standards and reporting across the agencies, which is consistent with the function of the FFIEC.5 The proposed FFIEC 016 information collection would satisfy each agency’s company-run stress-testing requirements, while ensuring consistency and comparability of the stress-testing information across institutions. The change from three separate agency-specific reports to an interagency FFIEC report is expected to be a seamless change for institutions 4 Financial Stability Oversight Council 2015 Annual Report, page 14, https://www.treasury.gov/ initiatives/fsoc/studies-reports/Documents/ 2015%20FSOC%20Annual%20Report.pdf. 5 See 12 U.S.C. 3305(c). PO 00000 Frm 00138 Fmt 4703 Sfmt 4703 with $10 to $50 billion in assets currently reporting annual Dodd-Frank Act stress-testing information. The change also would ensure that future collections of this information remain uniform across the agencies. The proposed FFIEC 016 report form would take effect as of December 31, 2017. The first annual filing deadline for the FFIEC 016 report form would be July 31, 2018. II. Request for Comment Public comment is requested on all aspects of this joint notice. Comments are invited on: (a) Whether the collections of information that are the subject of this notice are necessary for the proper performance of the agencies’ functions, including whether the information has practical utility; (b) The accuracy of the agencies’ estimates of the burden of the information collections as they are proposed to be revised, including the validity of the methodology and assumptions used; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of information collections 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 the information. Comments submitted in response to the joint notice will be shared among the agencies. All comments will become a matter of public record. Dated: October 2, 2017. Karen Solomon, Deputy Chief Counsel, Office of the Comptroller of the Currency. Board of Governors of the Federal Reserve System, September 29, 2017. Ann E. Misback, Secretary of the Board. Dated at Washington, DC, this 27th day of September 2017. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2017–21571 Filed 10–5–17; 8:45 am] BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P DEPARTMENT OF THE TREASURY Departmental Offices; Interest Rate Paid on Cash Deposited To Secure U.S. Immigration and Customs Enforcement Immigration Bonds AGENCY: E:\FR\FM\06OCN1.SGM Departmental Offices, Treasury. 06OCN1 Federal Register / Vol. 82, No. 193 / Friday, October 6, 2017 / Notices ACTION: Notice. FOR FURTHER INFORMATION CONTACT: For the period beginning October 1, 2017, and ending on December 31, 2017, the U.S. Immigration and Customs Enforcement Immigration Bond interest rate is 1.06 per centum per annum. SUMMARY: Comments or inquiries may be mailed to Sam Doak, Reporting Team Leader, Federal Borrowings Branch, Division of Accounting Operations, Office of Public Debt Accounting, Bureau of the Fiscal Service, Parkersburg, West Virginia 26106–1328. You can download this notice at the following Internet addresses: https:// www.treasury.gov or https:// www.federalregister.gov. ADDRESSES: Applicable October 1, 2017 to December 31, 2017. asabaliauskas on DSKBBXCHB2PROD with NOTICES DATES: VerDate Sep<11>2014 18:40 Oct 05, 2017 Jkt 244001 Adam Charlton, Manager, Federal Borrowings Branch, Office of Public Debt Accounting, Bureau of the Fiscal Service, Parkersburg, West Virginia 26106–1328, (304) 480–5248; Sam Doak, Reporting Team Leader, Federal Borrowings Branch, Division of Accounting Operations, Office of Public Debt Accounting, Bureau of the Fiscal Service, Parkersburg, West Virginia 26106–1328, (304) 480–5117. Federal law requires that interest payments on cash deposited to secure immigration bonds shall be ‘‘at a rate determined by the Secretary of the Treasury, except that in no case shall the interest rate exceed 3 per centum per annum.’’ 8 U.S.C. 1363(a). Related Federal regulations state that ‘‘Interest on cash deposited to secure immigration bonds SUPPLEMENTARY INFORMATION: PO 00000 Frm 00139 Fmt 4703 Sfmt 9990 46891 will be at the rate as determined by the Secretary of the Treasury, but in no case will exceed 3 per centum per annum or be less than zero.’’ 8 CFR 293.2. Treasury has determined that interest on the bonds will vary quarterly and will accrue during each calendar quarter at a rate equal to the lesser of the average of the bond equivalent rates on 91-day Treasury bills auctioned during the preceding calendar quarter, or 3 per centum per annum, but in no case less than zero. [FR Doc. 2015–18545] In addition to this Notice, Treasury posts the current quarterly rate in Table 2b— Interest Rates for Specific Legislation on the TreasuryDirect Web site. Gary Grippo, Deputy Assistant Secretary for Public Finance. [FR Doc. 2017–21524 Filed 10–5–17; 8:45 am] BILLING CODE 4810–25–P E:\FR\FM\06OCN1.SGM 06OCN1

Agencies

[Federal Register Volume 82, Number 193 (Friday, October 6, 2017)]
[Notices]
[Pages 46890-46891]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-21524]


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DEPARTMENT OF THE TREASURY


Departmental Offices; Interest Rate Paid on Cash Deposited To 
Secure U.S. Immigration and Customs Enforcement Immigration Bonds

AGENCY: Departmental Offices, Treasury.

[[Page 46891]]


ACTION: Notice.

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SUMMARY: For the period beginning October 1, 2017, and ending on 
December 31, 2017, the U.S. Immigration and Customs Enforcement 
Immigration Bond interest rate is 1.06 per centum per annum.

ADDRESSES: Comments or inquiries may be mailed to Sam Doak, Reporting 
Team Leader, Federal Borrowings Branch, Division of Accounting 
Operations, Office of Public Debt Accounting, Bureau of the Fiscal 
Service, Parkersburg, West Virginia 26106-1328. You can download this 
notice at the following Internet addresses: https://www.treasury.gov or 
https://www.federalregister.gov.

DATES: Applicable October 1, 2017 to December 31, 2017.

FOR FURTHER INFORMATION CONTACT: Adam Charlton, Manager, Federal 
Borrowings Branch, Office of Public Debt Accounting, Bureau of the 
Fiscal Service, Parkersburg, West Virginia 26106-1328, (304) 480-5248; 
Sam Doak, Reporting Team Leader, Federal Borrowings Branch, Division of 
Accounting Operations, Office of Public Debt Accounting, Bureau of the 
Fiscal Service, Parkersburg, West Virginia 26106-1328, (304) 480-5117.

SUPPLEMENTARY INFORMATION: Federal law requires that interest payments 
on cash deposited to secure immigration bonds shall be ``at a rate 
determined by the Secretary of the Treasury, except that in no case 
shall the interest rate exceed 3 per centum per annum.'' 8 U.S.C. 
1363(a). Related Federal regulations state that ``Interest on cash 
deposited to secure immigration bonds will be at the rate as determined 
by the Secretary of the Treasury, but in no case will exceed 3 per 
centum per annum or be less than zero.'' 8 CFR 293.2. Treasury has 
determined that interest on the bonds will vary quarterly and will 
accrue during each calendar quarter at a rate equal to the lesser of 
the average of the bond equivalent rates on 91-day Treasury bills 
auctioned during the preceding calendar quarter, or 3 per centum per 
annum, but in no case less than zero. [FR Doc. 2015-18545] In addition 
to this Notice, Treasury posts the current quarterly rate in Table 2b--
Interest Rates for Specific Legislation on the TreasuryDirect Web site.

Gary Grippo,
Deputy Assistant Secretary for Public Finance.
[FR Doc. 2017-21524 Filed 10-5-17; 8:45 am]
 BILLING CODE 4810-25-P
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