Policy on Payment System Risk, 46668-46669 [2017-21602]
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46668
Federal Register / Vol. 82, No. 193 / Friday, October 6, 2017 / Rules and Regulations
for unrestricted use at the time of
license termination. Two bases for this
confidence are that no new legacy sites
have been identified since the NRC’s
financial assurance regulations were
promulgated in 1988, and no sites have
had to make adjustments to their
decommissioning funds due to the
identification of significant residual
radioactivity since implementation of
the DPR.
The staff also found in SECY–16–0121
that residual radioactivity detected to
date has been limited mostly to onsite
areas, and there has not been a
significant impact on public health and
safety. Under current regulations, this is
unlikely to change. In addition to
complying with applicable dose
standards, for example, licensees also
must comply with the requirement in 10
CFR 20.1101(b) to ‘‘use, to the extent
practical, procedures and engineering
controls . . . to achieve . . . doses to
members of the public as low as
reasonably achievable (ALARA).’’ By
requiring public doses to be ALARA,
existing NRC regulations provide ample
assurance that the need for a prompt
remediation rule is unlikely to grow
with time.
Based on these considerations, earlier
assessments, and its conclusions from
the 2 additional years of operating
experience, the NRC staff in SECY–16–
0121 recommended that further work on
a prompt remediation rule be
discontinued. On December 21, 2016, in
SRM–SECY–16–0121 (ADAMS
Accession No. ML16356A583), the
Commission accepted the staff’s
recommendation.
From the staff’s evaluation of how
licensees are complying with the DPR
and other NRC regulations limiting
doses to members of the public, the
Commission has determined that
licensees are operating their facilities to
minimize leaks and spills, monitor for
residual radioactivity, adjust
decommissioning funding to account for
residual surface and subsurface
radioactivity, and maintain doses to the
public within regulatory limits,
including ALARA requirements.
Compliance with these regulations
protects public health and safety and
significantly reduces the potential for
additional legacy sites.
III. Availability of Documents
The documents identified in the
following table are available to
interested persons through one or more
of the following methods, as indicated.
ADAMS
Accession No./
Federal Register
citation
Document
Decommissioning Planning; Proposed Rule (January 22, 2008) ...........................................................................................
Decommissioning Planning; Final Rule (June 17, 2011) ........................................................................................................
SRM—SECY–07–0177—Proposed Rule: Decommissioning Planning ..................................................................................
Draft Proposed Technical Basis For Prompt Remediation, Rev. 4 ........................................................................................
FEDERAL REGISTER document ‘‘Consideration of Rulemaking to Address Prompt Remediation of Residual Radioactivity
During Operations.’’ (July 18, 2011).
Draft Technical Basis For Prompt Remediation, Rev. 3 .........................................................................................................
SRM–SECY–12–0046, ‘‘Options for Revising the Regulatory Approach to Groundwater Protection’’ ..................................
SECY–13–0108, ‘‘Staff Recommendations for Addressing Remediation of Residual Radioactivity During Operations’’ ......
SRM–SECY–13–0108 ‘‘Staff Recommendations For Addressing Remediation Of Residual Radioactivity During Operations’’.
Nuclear Energy Institute, NEI 07–07, ‘‘Industry Groundwater Protection Initiative’’ ...............................................................
SECY–16–0121, ‘‘Staff Recommendations For Rulemaking To Address Remediation Of Residual Radioactivity During
Operation’’.
SRM–SECY–16–0121, ‘‘Staff Recommendations For Rulemaking To Address Remediation Of Residual Radioactivity
During Operation’’.
asabaliauskas on DSKBBXCHB2PROD with RULES
IV. Conclusion
The NRC is no longer pursuing
revisions to its regulations in 10 CFR
part 20 for the reasons discussed in this
document. In the next edition of the
Unified Agenda, the NRC will update
the entry for this rulemaking activity
and reference this document to indicate
that it is no longer being pursued. This
rulemaking activity will appear in the
‘‘Completed Actions’’ section of that
edition of the Unified Agenda, but will
not appear in future editions. If the NRC
decides to pursue similar or related
rulemaking activities in the future, it
will inform the public through a new
rulemaking entry in the Unified Agenda.
Dated at Rockville, Maryland, this 2nd day
of October 2017.
VerDate Sep<11>2014
16:21 Oct 05, 2017
Jkt 244001
For the Nuclear Regulatory Commission.
Annette L. Vietti-Cook,
Secretary of the Commission.
[FR Doc. 2017–21546 Filed 10–5–17; 8:45 am]
BILLING CODE 7590–01–P
FEDERAL RESERVE SYSTEM
12 CFR Chapter II
[Docket No. OP–1572]
Policy on Payment System Risk
Board of Governors of the
Federal Reserve System.
ACTION: Policy statement.
AGENCY:
The Board of Governors of the
Federal Reserve System (Board) has
revised part II of the Federal Reserve
Policy on Payment System Risk (PSR
policy) related to the transaction posting
times used for measuring balances
intraday in institutions’ accounts at the
SUMMARY:
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73 FR 3812
76 FR 35512
ML073440549
ML111580353
76 FR 42074
ML120190685
ML121450704
ML13217A230
ML13354B759
ML072610036
ML16235A298
ML16356A583
Federal Reserve Banks (Reserve Banks)
to conform to amendments to
regulations governing the use of the
Automated Clearing House (ACH)
Network by Federal agencies announced
by the Department of the Treasury,
Bureau of the Fiscal Service (Fiscal
Service). Specifically, the amended
posting rules conform to the decision of
the Fiscal Service to allow Federal
agencies to originate and receive sameday entries beginning September 15,
2017.
This policy revision is applicable
beginning on September 15, 2017.
FOR FURTHER INFORMATION CONTACT:
Jeffrey D. Walker, Assistant Director
(202–721–4559), Jason Hinkle, Manager,
Financial Risk Management (202–912–
7805), or Ian C.B. Spear, Senior
Financial Services Analyst (202–452–
3959), Division of Reserve Bank
Operations and Payment Systems; for
users of Telecommunication Devices for
DATES:
E:\FR\FM\06OCR1.SGM
06OCR1
Federal Register / Vol. 82, No. 193 / Friday, October 6, 2017 / Rules and Regulations
the Deaf (TDD) only, contact 202–263–
4869; Board of Governors of the Federal
Reserve System, 20th and C Streets
NW., Washington, DC 20551.
SUPPLEMENTARY INFORMATION:
Background
The Board’s PSR policy establishes
the procedures for measuring balances
intraday in institutions’ accounts at the
Reserve Banks by setting forth the times
at which credits and debits for various
types of transactions are posted to those
accounts (‘‘the posting rules’’).1 The
application of these posting rules
determines an institution’s intraday
account balance and whether it has
incurred a negative balance (daylight
overdraft).
On September 23, 2015, the Board
approved enhancements to the Reserve
Banks’ FedACH® SameDay Service
(FedACH SameDay Service) in light of
amendments to NACHA—The
Electronic Payments Association’s
Operating Rules and Guidelines.2 The
NACHA amendments, as incorporated
into Operating Circular 4, become
effective in three phases, beginning with
same-day credits in September 2016,
same-day debits in September 2017, and
faster funds availability in March 2018.
Next-day settlement remains available.
The Board is revising the PSR policy’s
posting rules for same-day ACH
transactions to conform to amendments
to 31 CFR part 210 (part 210) announced
on September 11, 2017 by Fiscal
Service.3 Specifically, the amended
posting rules conform to the decision of
the Fiscal Service to allow Federal
agencies to originate and receive sameday entries beginning September 15,
2017.4
Policy on Payment System Risk
asabaliauskas on DSKBBXCHB2PROD with RULES
The Federal Reserve Policy on
Payment System Risk, section II.A,
under the heading ‘‘Procedures for
Measuring Daylight Overdrafts’’ and the
1 The Board’s PSR policy is available at https://
www.federalreserve.gov/paymentsystems/files/psr_
policy.pdf.
2 80 FR 58248 (Sep. 28, 2015). NACHA, whose
membership consists of insured financial
institutions and regional payment associations,
establishes network-wide ACH rules through its
Operating Rules and Guidelines. As an ACH
operator, the Reserve Banks, through Operating
Circular 4, incorporate NACHA’s Operating Rules
and Guidelines as rules that govern clearing and
settlement of commercial ACH items by the Reserve
Banks, except for those provisions specifically
excluded in the Operating Circular.
3 The Fiscal Service amended part 210 to address
changes to the NACHA Operating Rules, including
NACHA’s same-day amendments. See 82 FR 42597
(Sep. 11, 2017). Part 210 governs the use of ACH
by Federal agencies and incorporates the NACHA
Operating Rules, with certain exceptions.
4 31 CFR 210.2(d)(7) (as amended Sept. 11, 2017).
VerDate Sep<11>2014
16:21 Oct 05, 2017
Jkt 244001
46669
subheadings ‘‘Post at 8:30 a.m. eastern
time,’’ ‘‘Post by 1:00 p.m. eastern time,’’
‘‘Post at 5:00 p.m. eastern time,’’ and
‘‘Post at 5:30 p.m. eastern time,’’ is
amended as follows:
Post at 8:30 a.m. eastern time:
+/¥ Term deposit maturities and
accrued interest
+/¥ Government and commercial
ACH transactions, including return
items 5
+/¥ Commercial check transactions,
including returned checks 6
+ Treasury checks, postal money
orders, local Federal Reserve Bank
checks, and savings bond
redemptions in separately sorted
deposits; these items must be
deposited by the latest applicable
deposit deadline preceding the
posting time
+ Advance-notice Treasury
investments
¥ Penalty assessments for tax
payments from the Treasury
Investment Program (TIP).7
Post by 1:00 p.m. eastern time:
+/¥ Commercial check transactions,
including returned checks
+/¥ Government and commercial
FedACH SameDay Service
transactions, including return
items 8
+ Same-day Treasury investments.
Post at 5:00 p.m. eastern time:
+/¥ Government and commercial
FedACH SameDay Service
transactions, including return
items 9
+ Treasury checks, postal money
orders, and savings bond
redemptions in separately sorted
deposits; these items must be
deposited by the latest applicable
deposit deadline preceding the
posting time
+ Local Federal Reserve Bank checks;
these items must be presented
before 3:00 p.m. eastern time
Post at 5:30 p.m. eastern time:
+/¥ Government and commercial
FedACH SameDay Service return
transactions 10
+/¥ Commercial check transactions,
including returned checks
5 With the exception of paper returns and paper
notifications of change of prior-dated items that
only post at 5:00 p.m.; and paper returns of sameday forward items that only post at 5:30 p.m.
Institutions that are monitored in real time must
fund the total amount of their commercial ACH
credit originations in order for the transactions to
be processed. If the Federal Reserve receives
commercial ACH credit transactions from
institutions monitored in real time after the
scheduled close of the Fedwire Funds Service,
these transactions will be processed at 12:30 a.m.
the next business day, or by the ACH deposit
deadline, whichever is earlier. The Account
Balance Monitoring System provides intraday
account information to the Reserve Banks and
institutions and is used primarily to give authorized
Reserve Bank personnel a mechanism to control
and monitor account activity for selected
institutions. For more information on ACH
transaction processing, refer to the ACH Settlement
Day Finality Guide available through the Federal
Reserve Financial Services Web site at https://
www.frbservices.org.
6 For the three commercial check transaction
posting times, the Reserve Banks will post credits
and debits to institutions’ accounts for checks
deposited and presented, respectively, at least 30
minutes before the posting time.
7 The Reserve Banks will identify and notify
institutions with Treasury-authorized penalties on
Thursdays. In the event that Thursday is a holiday,
the Reserve Banks will identify and notify
institutions with Treasury-authorized penalties on
the following business day. Penalties will then be
posted on the business day following notification.
8 With the exception of paper returns and paper
notifications of change (NOCs) of prior-dated items
that only post at 5:00 p.m.; paper returns of sameday forward items that only post at 5:30 p.m.; and
FedLine Web returns and FedLine Web NOCs that
only post at 8:30 a.m. and 5:00 p.m., depending on
when the item is received by Reserve Banks.
DEPARTMENT OF TRANSPORTATION
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Sfmt 4700
By order of the Board of Governors of the
Federal Reserve System, acting through the
Director of the Division of Reserve Bank
Operations and Payment Systems under
delegated authority, October 3, 2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017–21602 Filed 10–5–17; 8:45 am]
BILLING CODE P
Federal Aviation Administration
14 CFR Part 39
[Docket No. FAA–2017–0254; Product
Identifier 2017–NE–10–AD; Amendment 39–
19066; AD 2017–20–09]
RIN 2120–AA64
Airworthiness Directives; General
Electric Company Turbofan Engines
Federal Aviation
Administration (FAA), DOT.
ACTION: Final rule.
AGENCY:
We are adopting a new
airworthiness directive (AD) for all
General Electric Company (GE) CF34–8E
model turbofan engines. This AD was
prompted by a report that using a
certain repair procedure for the fan
outlet guide vane (OGV) frame could
alter the strength capability of the fan
OGV frame. This AD requires
replacement of all fan OGV frames
SUMMARY:
9 With the exception of paper returns of same-day
forward items that only post at 5:30 p.m.
10 With the exception of paper returns and paper
notifications of change (NOCs) of prior-dated items
that only post at 5:00 p.m.; and FedLine Web
returns and FedLine Web NOCs that only post at
8:30 a.m. and 5:00 p.m., depending on when the
item is received by Reserve Banks.
E:\FR\FM\06OCR1.SGM
06OCR1
Agencies
[Federal Register Volume 82, Number 193 (Friday, October 6, 2017)]
[Rules and Regulations]
[Pages 46668-46669]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-21602]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
12 CFR Chapter II
[Docket No. OP-1572]
Policy on Payment System Risk
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Policy statement.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
has revised part II of the Federal Reserve Policy on Payment System
Risk (PSR policy) related to the transaction posting times used for
measuring balances intraday in institutions' accounts at the Federal
Reserve Banks (Reserve Banks) to conform to amendments to regulations
governing the use of the Automated Clearing House (ACH) Network by
Federal agencies announced by the Department of the Treasury, Bureau of
the Fiscal Service (Fiscal Service). Specifically, the amended posting
rules conform to the decision of the Fiscal Service to allow Federal
agencies to originate and receive same-day entries beginning September
15, 2017.
DATES: This policy revision is applicable beginning on September 15,
2017.
FOR FURTHER INFORMATION CONTACT: Jeffrey D. Walker, Assistant Director
(202-721-4559), Jason Hinkle, Manager, Financial Risk Management (202-
912-7805), or Ian C.B. Spear, Senior Financial Services Analyst (202-
452-3959), Division of Reserve Bank Operations and Payment Systems; for
users of Telecommunication Devices for
[[Page 46669]]
the Deaf (TDD) only, contact 202-263-4869; Board of Governors of the
Federal Reserve System, 20th and C Streets NW., Washington, DC 20551.
SUPPLEMENTARY INFORMATION:
Background
The Board's PSR policy establishes the procedures for measuring
balances intraday in institutions' accounts at the Reserve Banks by
setting forth the times at which credits and debits for various types
of transactions are posted to those accounts (``the posting
rules'').\1\ The application of these posting rules determines an
institution's intraday account balance and whether it has incurred a
negative balance (daylight overdraft).
---------------------------------------------------------------------------
\1\ The Board's PSR policy is available at https://www.federalreserve.gov/paymentsystems/files/psr_policy.pdf.
---------------------------------------------------------------------------
On September 23, 2015, the Board approved enhancements to the
Reserve Banks' FedACH[supreg] SameDay Service (FedACH SameDay Service)
in light of amendments to NACHA--The Electronic Payments Association's
Operating Rules and Guidelines.\2\ The NACHA amendments, as
incorporated into Operating Circular 4, become effective in three
phases, beginning with same-day credits in September 2016, same-day
debits in September 2017, and faster funds availability in March 2018.
Next-day settlement remains available.
---------------------------------------------------------------------------
\2\ 80 FR 58248 (Sep. 28, 2015). NACHA, whose membership
consists of insured financial institutions and regional payment
associations, establishes network-wide ACH rules through its
Operating Rules and Guidelines. As an ACH operator, the Reserve
Banks, through Operating Circular 4, incorporate NACHA's Operating
Rules and Guidelines as rules that govern clearing and settlement of
commercial ACH items by the Reserve Banks, except for those
provisions specifically excluded in the Operating Circular.
---------------------------------------------------------------------------
The Board is revising the PSR policy's posting rules for same-day
ACH transactions to conform to amendments to 31 CFR part 210 (part 210)
announced on September 11, 2017 by Fiscal Service.\3\ Specifically, the
amended posting rules conform to the decision of the Fiscal Service to
allow Federal agencies to originate and receive same-day entries
beginning September 15, 2017.\4\
---------------------------------------------------------------------------
\3\ The Fiscal Service amended part 210 to address changes to
the NACHA Operating Rules, including NACHA's same-day amendments.
See 82 FR 42597 (Sep. 11, 2017). Part 210 governs the use of ACH by
Federal agencies and incorporates the NACHA Operating Rules, with
certain exceptions.
\4\ 31 CFR 210.2(d)(7) (as amended Sept. 11, 2017).
---------------------------------------------------------------------------
Policy on Payment System Risk
The Federal Reserve Policy on Payment System Risk, section II.A,
under the heading ``Procedures for Measuring Daylight Overdrafts'' and
the subheadings ``Post at 8:30 a.m. eastern time,'' ``Post by 1:00 p.m.
eastern time,'' ``Post at 5:00 p.m. eastern time,'' and ``Post at 5:30
p.m. eastern time,'' is amended as follows:
Post at 8:30 a.m. eastern time:
+/- Term deposit maturities and accrued interest
+/- Government and commercial ACH transactions, including return
items \5\
---------------------------------------------------------------------------
\5\ With the exception of paper returns and paper notifications
of change of prior-dated items that only post at 5:00 p.m.; and
paper returns of same-day forward items that only post at 5:30 p.m.
Institutions that are monitored in real time must fund the
total amount of their commercial ACH credit originations in order
for the transactions to be processed. If the Federal Reserve
receives commercial ACH credit transactions from institutions
monitored in real time after the scheduled close of the Fedwire
Funds Service, these transactions will be processed at 12:30 a.m.
the next business day, or by the ACH deposit deadline, whichever is
earlier. The Account Balance Monitoring System provides intraday
account information to the Reserve Banks and institutions and is
used primarily to give authorized Reserve Bank personnel a mechanism
to control and monitor account activity for selected institutions.
For more information on ACH transaction processing, refer to the ACH
Settlement Day Finality Guide available through the Federal Reserve
Financial Services Web site at https://www.frbservices.org.
---------------------------------------------------------------------------
+/- Commercial check transactions, including returned checks \6\
---------------------------------------------------------------------------
\6\ For the three commercial check transaction posting times,
the Reserve Banks will post credits and debits to institutions'
accounts for checks deposited and presented, respectively, at least
30 minutes before the posting time.
---------------------------------------------------------------------------
+ Treasury checks, postal money orders, local Federal Reserve Bank
checks, and savings bond redemptions in separately sorted deposits;
these items must be deposited by the latest applicable deposit deadline
preceding the posting time
+ Advance-notice Treasury investments
- Penalty assessments for tax payments from the Treasury Investment
Program (TIP).\7\
---------------------------------------------------------------------------
\7\ The Reserve Banks will identify and notify institutions with
Treasury-authorized penalties on Thursdays. In the event that
Thursday is a holiday, the Reserve Banks will identify and notify
institutions with Treasury-authorized penalties on the following
business day. Penalties will then be posted on the business day
following notification.
---------------------------------------------------------------------------
Post by 1:00 p.m. eastern time:
+/- Commercial check transactions, including returned checks
+/- Government and commercial FedACH SameDay Service transactions,
including return items \8\
---------------------------------------------------------------------------
\8\ With the exception of paper returns and paper notifications
of change (NOCs) of prior-dated items that only post at 5:00 p.m.;
paper returns of same-day forward items that only post at 5:30 p.m.;
and FedLine Web returns and FedLine Web NOCs that only post at 8:30
a.m. and 5:00 p.m., depending on when the item is received by
Reserve Banks.
---------------------------------------------------------------------------
+ Same-day Treasury investments.
Post at 5:00 p.m. eastern time:
+/- Government and commercial FedACH SameDay Service transactions,
including return items \9\
---------------------------------------------------------------------------
\9\ With the exception of paper returns of same-day forward
items that only post at 5:30 p.m.
---------------------------------------------------------------------------
+ Treasury checks, postal money orders, and savings bond
redemptions in separately sorted deposits; these items must be
deposited by the latest applicable deposit deadline preceding the
posting time
+ Local Federal Reserve Bank checks; these items must be presented
before 3:00 p.m. eastern time
Post at 5:30 p.m. eastern time:
+/- Government and commercial FedACH SameDay Service return
transactions \10\
---------------------------------------------------------------------------
\10\ With the exception of paper returns and paper notifications
of change (NOCs) of prior-dated items that only post at 5:00 p.m.;
and FedLine Web returns and FedLine Web NOCs that only post at 8:30
a.m. and 5:00 p.m., depending on when the item is received by
Reserve Banks.
---------------------------------------------------------------------------
+/- Commercial check transactions, including returned checks
By order of the Board of Governors of the Federal Reserve
System, acting through the Director of the Division of Reserve Bank
Operations and Payment Systems under delegated authority, October 3,
2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-21602 Filed 10-5-17; 8:45 am]
BILLING CODE P