Public Availability of Government Accountability Office Records, 51753-51754 [2017-24340]
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51753
Rules and Regulations
Federal Register
Vol. 82, No. 215
Wednesday, November 8, 2017
This section of the FEDERAL REGISTER
contains regulatory documents having general
applicability and legal effect, most of which
are keyed to and codified in the Code of
Federal Regulations, which is published under
50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by
the Superintendent of Documents.
GOVERNMENT ACCOUNTABILITY
OFFICE
4 CFR Part 81
Public Availability of Government
Accountability Office Records
AGENCY:
Government Accountability
Office.
ACTION:
Final rule.
These revisions clarify
procedures to obtain Government
Accountability Office (GAO) records.
Specifically, the revisions add
procedures for requesting records of
GAO’s Office of Inspector General. The
revisions also clarify that documents
prepared by GAO or GAO’s Office of
Inspector General for referral to another
agency for law enforcement purposes
are not subject to the regulations in this
part. The previous regulatory language
on this point was imprecise.
DATES: This rule is effective as of
December 8, 2017.
FOR FURTHER INFORMATION CONTACT: John
A. Bielec, Assistant General Counsel,
bielecj@gao.gov.
SUPPLEMENTARY INFORMATION: GAO is
amending 4 CFR 81.2 by specifically
providing that GAO’s Office of Inspector
General (OIG) will process any requests
under this part for OIG records. The
OIG, which was established by statute
in 2008, audits and investigates matters
related to GAO’s operations. The OIG
executes its responsibilities
independently of and free from
interference or control by any other
office or body within GAO. In keeping
with and to best preserve this
independence, the OIG itself should
process requests for its records.
However, when the OIG receives a
request for records that originated in
GAO, the OIG will refer the requester to
GAO. These revisions provide that with
respect to any request for OIG records,
other than records that originated in
GAO, throughout this part the term
‘‘Counsel to the Inspector General’’
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would be substituted for ‘‘Chief Quality
Officer’’ and the term ‘‘Inspector
General’’ would be substituted for
‘‘Comptroller General.’’
In addition, § 81.6(g) is amended to
clarify that documents prepared by GAO
for referral to another agency for law
enforcement purposes are exempt from
the procedures in this part. Section
81.6(g) previously provided that records
that GAO has already provided to
another agency for law enforcement
purposes are exempt. However, § 81.6(g)
did not specifically address requests for
records that GAO, including the OIG,
created for referral to another agency for
law enforcement purposes, but has not
yet provided to another agency. For
instance, during an investigation into
possible criminal activity, the GAO OIG
creates documents that may be
forwarded to another agency for law
enforcement purposes at the conclusion
of the OIG’s investigation. Section
81.6(g) was unclear as to whether such
records, which have not yet been
forwarded to another agency, would be
subject to this part if requested before
the conclusion of the investigation.
These changes clarify that records
compiled for referral to another agency
for law enforcement purposes are
exempt from this part.
GAO is not subject to the
Administrative Procedure Act and
accordingly is not required by law to
seek comments before issuing a final
rule. Application of the Administrative
Procedure Act to GAO is not to be
inferred from GAO’s invitation of
comments on the proposed rule.
Nevertheless, GAO published a
proposed rule regarding these changes
and invited comments at 82 FR 37545
(August 11, 2017). GAO received two
comments on the proposed rule. Neither
comment specifically addressed the
proposed changes to this part. As a
result, the final rule does not reflect
these comments.
GAO added a sentence to the final
version of § 81.2 that did not appear in
the proposed version. This sentence
clarifies that when the OIG receives a
request for records that originated in
GAO, the OIG will refer the requester to
GAO. The final rule otherwise does not
differ substantively from the proposed
rule.
List of Subjects in 4 CFR Part 81
Administrative practice and
procedure, Archives and records,
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Fmt 4700
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Freedom of information, Requests for
records.
For the reasons stated in the
preamble, the Government
Accountability Office amends 4 CFR
part 81 as follows:
PART 81—PUBLIC AVAILABILITY OF
GOVERNMENT ACCOUNTABILITY
OFFICE RECORDS
1. The authority citation for part 81
continues to read as follows:
■
Authority: 31 U.S.C. 711.
2. Amend § 81.2 by designating the
undesignated paragraph as paragraph (a)
and adding paragraph (b) to read as
follows:
■
§ 81.2
Administration.
*
*
*
*
*
(b) Requests for records of GAO’s
Office of Inspector General (OIG) shall
be processed by the Counsel to the
Inspector General in accordance with
this part. The Inspector General shall
decide any administrative appeals of
decisions of the Counsel to the Inspector
General concerning such requests.
However, if any of the requested records
of the OIG originated in GAO, the
Counsel to the Inspector General shall
refer the requester to GAO’s Chief
Quality Officer for processing of the
request for those records in accordance
with this part. With regard to any public
request to inspect or copy records of the
OIG, other than records that originated
in GAO, in this part the term ‘‘Counsel
to the Inspector General’’ is to be
substituted for ‘‘Chief Quality Officer’’
and the term ‘‘Inspector General’’ is to
be substituted for ‘‘Comptroller
General’’. All requests to inspect or
obtain a copy of an identifiable record
of the OIG must be submitted in writing
to the Counsel to the Inspector General,
U.S. Government Accountability Office,
Suite 1808, 441 G Street NW.,
Washington, DC 20548 or emailed to
OIGRecordsRequest@gao.gov.
3. Amend § 81.6 by revising paragraph
(g) to read as follows:
■
§ 81.6 Records which may be exempt from
disclosure.
*
*
*
*
*
(g) Records compiled for law
enforcement purposes that originate in
another agency, or records prepared for
referral to and/or provided by GAO or
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51754
Federal Register / Vol. 82, No. 215 / Wednesday, November 8, 2017 / Rules and Regulations
the OIG to another agency for law
enforcement purposes.
*
*
*
*
*
Dated: November 3, 2017.
Susan A. Poling,
General Counsel, Government Accountability
Office.
[FR Doc. 2017–24340 Filed 11–7–17; 8:45 am]
BILLING CODE 1610–02–P
FEDERAL RESERVE SYSTEM
12 CFR Part 204
Regulation D; Docket No. OP–1582;
Reserve Requirements of Depository
Institutions
Board of Governors of the
Federal Reserve System.
ACTION: Final rule.
AGENCY:
The Board is amending
Regulation D, Reserve Requirements of
Depository Institutions, to reflect the
annual indexing of the reserve
requirement exemption amount and the
low reserve tranche for 2018. The
Regulation D amendments set the
amount of total reservable liabilities of
each depository institution that is
subject to a zero percent reserve
requirement in 2018 at $16.0 million
(up from $15.5 million in 2017). This
amount is known as the reserve
requirement exemption amount. The
Regulation D amendments also set the
amount of net transaction accounts at
each depository institution (over the
reserve requirement exemption amount)
that is subject to a three percent reserve
requirement in 2018 at $122.3 million
(up from $115.1 million in 2017). This
amount is known as the low reserve
tranche. The adjustments to both of
these amounts are derived using
statutory formulas specified in the
Federal Reserve Act.
The Board is also announcing changes
in two other amounts, the nonexempt
deposit cutoff level and the reduced
reporting limit, that are used to
determine the frequency at which
depository institutions must submit
deposit reports.
DATES:
Effective Date: December 8, 2017.
Compliance Dates: The new low
reserve tranche and reserve requirement
exemption amount will apply to the
fourteen-day reserve maintenance
period that begins January 18, 2018. For
depository institutions that report
deposit data weekly, this maintenance
period corresponds to the fourteen-day
computation period that begins
December 19, 2017. For depository
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institutions that report deposit data
quarterly, this maintenance period
corresponds to the seven-day
computation period that begins
December 19, 2017. The new values of
the nonexempt deposit cutoff level, the
reserve requirement exemption amount,
and the reduced reporting limit will be
used to determine the frequency at
which a depository institution submits
deposit reports effective in either June
or September 2018.
FOR FURTHER INFORMATION CONTACT:
Clinton N. Chen, Senior Attorney (202–
452–3952), Legal Division, or Kristen R.
Payne, Financial Analyst (202–452–
2872), Division of Monetary Affairs; for
users of Telecommunications Device for
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: Section
19(b)(2) of the Federal Reserve Act (12
U.S.C. 461(b)(2)) requires each
depository institution to maintain
reserves against its transaction accounts
and nonpersonal time deposits, as
prescribed by Board regulations, for the
purpose of implementing monetary
policy. Section 11(a)(2) of the Federal
Reserve Act (12 U.S.C. 248(a)(2))
authorizes the Board to require reports
of liabilities and assets from depository
institutions to enable the Board to
conduct monetary policy. The Board’s
actions with respect to each of these
provisions are discussed in turn below.
I. Reserve Requirements
Pursuant to section 19(b) of the
Federal Reserve Act (Act), transaction
account balances maintained at each
depository institution are subject to
reserve requirement ratios of zero, three,
or ten percent. Section 19(b)(11)(A) of
the Act (12 U.S.C. 461(b)(11)(A))
provides that a zero percent reserve
requirement shall apply at each
depository institution to total reservable
liabilities that do not exceed a certain
amount, known as the reserve
requirement exemption amount.
Section 19(b)(11)(B) provides that,
before December 31 of each year, the
Board shall issue a regulation adjusting
the reserve requirement exemption
amount for the next calendar year if
total reservable liabilities held at all
depository institutions increase from
one year to the next. No adjustment is
made to the reserve requirement
exemption amount if total reservable
liabilities held at all depository
institutions should decrease during the
applicable time period. The Act requires
the percentage increase in the reserve
requirement exemption amount to be 80
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Frm 00002
Fmt 4700
Sfmt 4700
percent of the increase in total
reservable liabilities of all depository
institutions over the one-year period
that ends on the June 30 prior to the
adjustment.
Total reservable liabilities of all
depository institutions increased by 3.9
percent, from $7,531 billion to $7,821
billion, between June 30, 2016, and June
30, 2017. Accordingly, the Board is
amending Regulation D to set the
reserve requirement exemption amount
for 2018 at $16.0 million, an increase of
$0.5 million from its level in 2017.1
Pursuant to Section 19(b)(2) of the Act
(12 U.S.C. 461(b)(2)), transaction
account balances maintained at each
depository institution over the reserve
requirement exemption amount and up
to a certain amount, known as the low
reserve tranche, are subject to a three
percent reserve requirement.
Transaction account balances over the
low reserve tranche are subject to a ten
percent reserve requirement. Section
19(b)(2) also provides that, before
December 31 of each year, the Board
shall issue a regulation adjusting the
low reserve tranche for the next
calendar year. The Act requires the
adjustment in the low reserve tranche to
be 80 percent of the percentage increase
or decrease in total transaction accounts
of all depository institutions over the
one-year period that ends on the June 30
prior to the adjustment.
Net transaction accounts of all
depository institutions increased 7.8
percent, from $2,200 billion to $2,372
billion, between June 30, 2016, and June
30, 2017. Accordingly, the Board is
amending Regulation D to set the low
reserve tranche for net transaction
accounts for 2018 at $122.3 million, an
increase of $7.2 million from 2017.
The new low reserve tranche and
reserve requirement exemption amount
will be effective for all depository
institutions for the fourteen-day reserve
maintenance period beginning
Thursday, January 18, 2018. For
depository institutions that report
deposit data weekly, this maintenance
period corresponds to the fourteen-day
computation period that begins
December 19, 2017. For depository
institutions that report deposit data
quarterly, this maintenance period
corresponds to the seven-day
computation period that begins
December 19, 2017.
II. Deposit Reports
Section 11(b)(2) of the Federal
Reserve Act authorizes the Board to
1 Consistent with Board practice, the low reserve
tranche and reserve requirement exemption
amounts have been rounded to the nearest $0.1
million.
E:\FR\FM\08NOR1.SGM
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]]>Agencies
[Federal Register Volume 82, Number 215 (Wednesday, November 8, 2017)]
[Rules and Regulations]
[Pages 51753-51754]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-24340]
========================================================================
Rules and Regulations
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
under 50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by the Superintendent of Documents.
========================================================================
Federal Register / Vol. 82, No. 215 / Wednesday, November 8, 2017 /
Rules and Regulations
[[Page 51753]]
GOVERNMENT ACCOUNTABILITY OFFICE
4 CFR Part 81
Public Availability of Government Accountability Office Records
AGENCY: Government Accountability Office.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: These revisions clarify procedures to obtain Government
Accountability Office (GAO) records. Specifically, the revisions add
procedures for requesting records of GAO's Office of Inspector General.
The revisions also clarify that documents prepared by GAO or GAO's
Office of Inspector General for referral to another agency for law
enforcement purposes are not subject to the regulations in this part.
The previous regulatory language on this point was imprecise.
DATES: This rule is effective as of December 8, 2017.
FOR FURTHER INFORMATION CONTACT: John A. Bielec, Assistant General
Counsel, bielecj@gao.gov.
SUPPLEMENTARY INFORMATION: GAO is amending 4 CFR 81.2 by specifically
providing that GAO's Office of Inspector General (OIG) will process any
requests under this part for OIG records. The OIG, which was
established by statute in 2008, audits and investigates matters related
to GAO's operations. The OIG executes its responsibilities
independently of and free from interference or control by any other
office or body within GAO. In keeping with and to best preserve this
independence, the OIG itself should process requests for its records.
However, when the OIG receives a request for records that originated in
GAO, the OIG will refer the requester to GAO. These revisions provide
that with respect to any request for OIG records, other than records
that originated in GAO, throughout this part the term ``Counsel to the
Inspector General'' would be substituted for ``Chief Quality Officer''
and the term ``Inspector General'' would be substituted for
``Comptroller General.''
In addition, Sec. 81.6(g) is amended to clarify that documents
prepared by GAO for referral to another agency for law enforcement
purposes are exempt from the procedures in this part. Section 81.6(g)
previously provided that records that GAO has already provided to
another agency for law enforcement purposes are exempt. However, Sec.
81.6(g) did not specifically address requests for records that GAO,
including the OIG, created for referral to another agency for law
enforcement purposes, but has not yet provided to another agency. For
instance, during an investigation into possible criminal activity, the
GAO OIG creates documents that may be forwarded to another agency for
law enforcement purposes at the conclusion of the OIG's investigation.
Section 81.6(g) was unclear as to whether such records, which have not
yet been forwarded to another agency, would be subject to this part if
requested before the conclusion of the investigation. These changes
clarify that records compiled for referral to another agency for law
enforcement purposes are exempt from this part.
GAO is not subject to the Administrative Procedure Act and
accordingly is not required by law to seek comments before issuing a
final rule. Application of the Administrative Procedure Act to GAO is
not to be inferred from GAO's invitation of comments on the proposed
rule.
Nevertheless, GAO published a proposed rule regarding these changes
and invited comments at 82 FR 37545 (August 11, 2017). GAO received two
comments on the proposed rule. Neither comment specifically addressed
the proposed changes to this part. As a result, the final rule does not
reflect these comments.
GAO added a sentence to the final version of Sec. 81.2 that did
not appear in the proposed version. This sentence clarifies that when
the OIG receives a request for records that originated in GAO, the OIG
will refer the requester to GAO. The final rule otherwise does not
differ substantively from the proposed rule.
List of Subjects in 4 CFR Part 81
Administrative practice and procedure, Archives and records,
Freedom of information, Requests for records.
For the reasons stated in the preamble, the Government
Accountability Office amends 4 CFR part 81 as follows:
PART 81--PUBLIC AVAILABILITY OF GOVERNMENT ACCOUNTABILITY OFFICE
RECORDS
0
1. The authority citation for part 81 continues to read as follows:
Authority: 31 U.S.C. 711.
0
2. Amend Sec. 81.2 by designating the undesignated paragraph as
paragraph (a) and adding paragraph (b) to read as follows:
Sec. 81.2 Administration.
* * * * *
(b) Requests for records of GAO's Office of Inspector General (OIG)
shall be processed by the Counsel to the Inspector General in
accordance with this part. The Inspector General shall decide any
administrative appeals of decisions of the Counsel to the Inspector
General concerning such requests. However, if any of the requested
records of the OIG originated in GAO, the Counsel to the Inspector
General shall refer the requester to GAO's Chief Quality Officer for
processing of the request for those records in accordance with this
part. With regard to any public request to inspect or copy records of
the OIG, other than records that originated in GAO, in this part the
term ``Counsel to the Inspector General'' is to be substituted for
``Chief Quality Officer'' and the term ``Inspector General'' is to be
substituted for ``Comptroller General''. All requests to inspect or
obtain a copy of an identifiable record of the OIG must be submitted in
writing to the Counsel to the Inspector General, U.S. Government
Accountability Office, Suite 1808, 441 G Street NW., Washington, DC
20548 or emailed to OIGRecordsRequest@gao.gov.
0
3. Amend Sec. 81.6 by revising paragraph (g) to read as follows:
Sec. 81.6 Records which may be exempt from disclosure.
* * * * *
(g) Records compiled for law enforcement purposes that originate in
another agency, or records prepared for referral to and/or provided by
GAO or
[[Page 51754]]
the OIG to another agency for law enforcement purposes.
* * * * *
Dated: November 3, 2017.
Susan A. Poling,
General Counsel, Government Accountability Office.
[FR Doc. 2017-24340 Filed 11-7-17; 8:45 am]
BILLING CODE 1610-02-P
