Rules Regarding Delegation of Authority, 55495-55496 [2017-24052]
Download as PDF
<![CDATA[
Federal Register / Vol. 82, No. 224 / Wednesday, November 22, 2017 / Rules and Regulations
start date that falls within FY 2018
(October 1, 2017–September 30, 2018)
will be counted against the new cap of
9,998. Counting each CW–1
nonimmigrant worker in this manner
will help ensure that USCIS does not
approve requests that would exceed the
cap of 9,998 CW–1 nonimmigrant
workers granted such status in FY 2018.
This document does not affect the
current immigration status of foreign
workers who have CW–1 nonimmigrant
status. Such foreign workers, however,
will be affected by this document when
their CNMI employers file:
• For an extension of their CW–1
nonimmigrant classification; or
• A change of status from another
nonimmigrant status to that of CW–1
nonimmigrant status.
This document does not affect the
status of any individual currently
holding CW–2 nonimmigrant status as
the spouse or minor child of a CW–1
nonimmigrant worker. This document
also does not directly affect the ability
of any individual to extend or otherwise
obtain CW–2 status, as the cap applies
to CW–1 principals only. This
document, however, may indirectly
affect individuals seeking CW–2 status
since their status depends on the CW–
1 principal’s ability to obtain or retain
CW–1 status.
Elaine C. Duke,
Acting Secretary of Homeland Security.
[FR Doc. 2017–25306 Filed 11–21–17; 8:45 am]
BILLING CODE 9111–97–P
FEDERAL RESERVE SYSTEM
12 CFR Part 265
[Docket No. R–1578]
RIN 7100 AE–85
Rules Regarding Delegation of
Authority
Board of Governors of the
Federal Reserve System (Board).
ACTION: Final rule.
AGENCY:
The Board is amending its
Rules Regarding Delegation of
Authority, in connection with the
amendment to the Board’s Rules of
Organization (published elsewhere in
this issue of the Federal Register), to
provide a modified quorum procedure
during exigent circumstances.
DATES: The rule is effective November
22, 2017.
FOR FURTHER INFORMATION CONTACT:
Laurie Schaffer, Associate General
Counsel, (202) 452–2272, or Daniel
Hickman, Counsel, (202) 973–7432,
ethrower on DSK3G9T082PROD with RULES
SUMMARY:
VerDate Sep<11>2014
16:22 Nov 21, 2017
Jkt 244001
Legal Division, Board of Governors of
the Federal Reserve System, 20th Street
and Constitution Avenue NW.,
Washington, DC 20551. For the hearing
impaired only, Telecommunication
Device for Deaf (TDD) users may contact
(202) 263–4869.
The Board
consists of up to seven members
appointed by the President, by and with
the advice and consent of the Senate, as
provided in the Federal Reserve Act
(Act).1 The Act does not define a
quorum of the Board, and authorizes the
Board to make all rules and regulations
necessary to enable the Board effectively
to perform its duties and functions.2 For
many years, the Board defined a quorum
to be a majority (four members) of its
authorized strength of seven members.
In 2003, the Board revised its definition
of quorum of the Board to be a majority
of the Board members currently in
office, unless there are five members in
office, in which case a quorum would be
four members.3 This modification
allowed the Board to function with
fewer than four members in office and
enhanced the Board’s ability to function
during emergencies.
Over the past decade, the Board has
had to operate with fewer than five
members on several occasions.4 Based
on this experience, the Board has
determined that substantial vacancies
present administrative and logistical
challenges that make it difficult to
conduct routine business and efficiently
manage operations, particularly with the
Board’s traditional reliance on a 3member committee structure. In light of
these considerations, the Board has
reconsidered its quorum practice and
decided to amend its definition of a
quorum 5 to provide that a quorum of
the Board is four members, unless there
are three or fewer members in office, in
which case a quorum would be all
members in office. This revised
definition will facilitate the Board’s
ability to continue to function
efficiently during periods of substantial
vacancies on the Board. This revision
does not alter the number of Board
members required to constitute a
quorum or the functioning of the
Board’s committee structure in normal
SUPPLEMENTARY INFORMATION:
1 See
12 U.S.C. 241.
12 U.S.C. 248(i).
3 66 FR 37686 (Jul 19, 2001), as amended at 68
FR 24743 (May 8, 2003).
4 Since the current structure of the Board was
established in 1936, the Board has had fewer than
five members on only a few occasions for a short
period of time and the Board has never had fewer
than four members.
5 In a document published elsewhere in this issue
of the Federal Register.
2 See
PO 00000
Frm 00003
Fmt 4700
Sfmt 4700
55495
operating environments (that is, when
five or more members are in office).
Since this revision may make it more
difficult to convene a quorum of the
Board under exigent circumstances, the
Board also has added a modified
definition of quorum providing that, in
an emergency situation, a quorum of the
Board consists of a majority of the Board
members in office.6 An emergency
situation is defined as a situation when
action on a matter is necessary to
prevent, correct, or mitigate serious
harm to the economy or the stability of
the financial system, and action is
required before the full Board can
convene. As part of this final rule, the
Board is adding a provision to its
regulations specifying that the Chair (or
the Vice Chair, if the Chair is
unavailable) would be authorized to
determine when an emergency situation
exists.
The revised rule relates solely to the
internal procedure of the Board, and,
accordingly, the public notice, public
comment and delayed effective date
provisions of the Administrative
Procedure Act do not apply. See 5
U.S.C. 553(b) and (d). Because public
notice and comment is not required, the
Regulatory Flexibility Act (5 U.S.C. 601
et seq.) also does not apply to this
action.
List of Subjects in 12 CFR Part 265
Authority delegations (Government
agencies), Banks, banking.
Authority and Issuance
For the reasons set forth in the
preamble, the Board amends 12 CFR
part 265 as follows:
PART 265—RULES REGARDING
DELEGATION OF AUTHORITY
1. The authority citation of part 265
continues to read as follows:
■
Authority: 12 U.S.C. 248(i) and (k).
2. Section 265.4(c) is added to read as
follows:
■
§ 265.4 Functions delegated to Board
members.
*
*
*
*
*
(c) Exigent circumstances. The
Chairman is authorized to determine
when an emergency situation exists for
purposes of section 2(b)(2) of the
Board’s Rules of Organization. If the
Chairman is unavailable or unable to
determine that an emergency situation
exists, then the Vice Chairman is
authorized to determine when an
emergency situation exists.
6 In a document published elsewhere in this issue
of the Federal Register.
E:\FR\FM\22NOR1.SGM
22NOR1
55496
Federal Register / Vol. 82, No. 224 / Wednesday, November 22, 2017 / Rules and Regulations
By order of the Board of Governors of the
Federal Reserve System, October 31, 2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017–24052 Filed 11–21–17; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
12 CFR Part 265
[Docket No. OP–1578]
Rules of Organization
Board of Governors of the
Federal Reserve System (Board).
ACTION: Amendment to Rules of
Organization.
AGENCY:
The Board has amended its
definition of a quorum of the Board in
the Board’s Rules of Organization. The
amendment is designed to facilitate the
Board’s ability to continue to function
efficiently during periods of substantial
vacancies on the Board. The amendment
does not alter the number of Board
members required to constitute a
quorum in normal operating
environments. The amendment also
addresses Board member recusals and
disqualifications. In addition, the Board
has provided a modified definition of a
quorum during exigent circumstances.
In connection with this modification,
the Board is amending its Rules
Regarding Delegation of Authority,
published elsewhere in this Federal
Register, to authorize the Chair (or Vice
Chair, if the Chair is unavailable) to
determine when an emergency situation
exists.
DATES: The amendment to the Board’s
Rules of Organization became effective
on October 25, 2017.
FOR FURTHER INFORMATION CONTACT:
Laurie Schaffer, Associate General
Counsel (202) 452–2272, or Daniel
Hickman, Counsel (202) 973–7432,
Legal Division, Board of Governors of
the Federal Reserve System, 20th Street
and Constitution Avenue NW.,
Washington, DC 20551. For the hearing
impaired only, Telecommunication
Device for Deaf (TDD) users may contact
(202) 263–4869.
SUPPLEMENTARY INFORMATION: The Board
consists of up to seven members
appointed by the President, by and with
the advice and consent of the Senate, as
provided in the Federal Reserve Act
(Act).1 The Act does not define a
quorum of the Board, and authorizes the
Board to make all rules and regulations
necessary to enable the Board effectively
ethrower on DSK3G9T082PROD with RULES
SUMMARY:
1 See
12 U.S.C. 241.
VerDate Sep<11>2014
16:22 Nov 21, 2017
Jkt 244001
to perform its duties and functions.2 For
many years, the Board defined a quorum
to be a majority (four members) of its
authorized strength of seven members.
In 2003, the Board revised its definition
of a quorum of the Board to be a
majority of the Board members currently
in office, unless there are five members
in office, in which case a quorum would
be four members.3 This modification
allowed the Board to function with
fewer than four members in office and
enhanced the Board’s ability to function
during emergencies.
Over the past decade, the Board has
had to operate with fewer than five
members on several occasions.4 Based
on this experience, the Board has
determined that substantial vacancies
present administrative and logistical
challenges that make it difficult to
conduct routine business and efficiently
manage operations, particularly with the
Board’s traditional reliance on a 3member committee structure. In light of
these considerations, the Board has
reconsidered its quorum practice and
decided to amend its definition of a
quorum to provide that a quorum of the
Board is four members, unless there are
three or fewer members in office, in
which case a quorum would be all
members in office. This revised
definition will facilitate the Board’s
ability to continue to function
efficiently during periods of substantial
vacancies on the Board. This revision
does not alter the number of Board
members required to constitute a
quorum or the functioning of the
Board’s committee structure in normal
operating environments (that is, when
five or more members are in office).
Increasing the quorum requirement
for a four-member and three-member
Board may make it more difficult to
convene a quorum if a member of the
Board is recused or disqualified from a
particular matter. To address this
concern, the Board also has amended its
Rules of Organization to clarify that
Board members who are recused or
disqualified from participating in a
particular matter will be excluded from
calculations of the quorum requirement
for that matter.
Since the revisions may make it more
difficult to convene a quorum of the
Board under exigent circumstances, the
Board also has added a modified
definition of quorum providing that, in
2 See
12 U.S.C. 248(i).
FR 37686 (Jul 19, 2001), as amended at 68
FR 24743 (May 8, 2003).
4 Since the current structure of the Board was
established in 1936, the Board has had fewer than
five members on only a few occasions for a short
period of time and the Board has never had fewer
than four members.
3 66
PO 00000
Frm 00004
Fmt 4700
Sfmt 4700
an emergency situation, a quorum of the
Board consists of a majority of the Board
members in office. An emergency
situation is defined as a situation when
action on a matter is necessary to
prevent, correct, or mitigate serious
harm to the economy or the stability of
the financial system, and action is
required before the full Board can
convene. The Board is amending its
Rules Regarding Delegation of Authority
(12 CFR part 265), published elsewhere
in this Federal Register, to authorize the
Chair (or the Vice Chair, if the Chair is
unavailable) to determine when an
emergency situation exists.
The Board has incorporated these
revisions into its Rules of Organization
and Rules Regarding Delegation of
Authority,5 published elsewhere in this
Federal Register. The revisions relate
solely to the internal procedure of the
Board, and, accordingly, the public
notice, public comment and delayed
effective date provisions of the
Administrative Procedure Act do not
apply. See 5 U.S.C. 553(b) and (d).
Because public notice and comment is
not required, the Regulatory Flexibility
Act (5 U.S.C. 601 et seq.) also does not
apply to this action.
Board of Governors—Rules of
Organization
Section 2 paragraph (b) is revised to
read as follows:
■
Section 2 Composition, Location, and
Public Information
*
*
*
*
*
(b)(1) Quorum. Four Board members
constitutes a quorum of the Board for
purposes of transacting business except
that, if there are three or fewer Board
members in office, then a quorum
consists of all Board members currently
in office. If a Board member is recused
or disqualified from participating in a
matter, the member shall not be counted
for purposes of calculating the quorum
for that matter.
(b)(2) Exigent Circumstances. In an
emergency situation, a quorum of the
Board consists of a majority of the Board
members in office. An emergency
situation exists when action on a matter
is necessary to prevent, correct, or
mitigate serious harm to the economy or
the stability of the financial system, and
action is required before the full Board
can convene.
5 The Board’s Rules Regarding Delegation of
Authority are codified at 12 CFR part 265.
E:\FR\FM\22NOR1.SGM
22NOR1
]]>Agencies
[Federal Register Volume 82, Number 224 (Wednesday, November 22, 2017)]
[Rules and Regulations]
[Pages 55495-55496]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-24052]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
12 CFR Part 265
[Docket No. R-1578]
RIN 7100 AE-85
Rules Regarding Delegation of Authority
AGENCY: Board of Governors of the Federal Reserve System (Board).
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Board is amending its Rules Regarding Delegation of
Authority, in connection with the amendment to the Board's Rules of
Organization (published elsewhere in this issue of the Federal
Register), to provide a modified quorum procedure during exigent
circumstances.
DATES: The rule is effective November 22, 2017.
FOR FURTHER INFORMATION CONTACT: Laurie Schaffer, Associate General
Counsel, (202) 452-2272, or Daniel Hickman, Counsel, (202) 973-7432,
Legal Division, Board of Governors of the Federal Reserve System, 20th
Street and Constitution Avenue NW., Washington, DC 20551. For the
hearing impaired only, Telecommunication Device for Deaf (TDD) users
may contact (202) 263-4869.
SUPPLEMENTARY INFORMATION: The Board consists of up to seven members
appointed by the President, by and with the advice and consent of the
Senate, as provided in the Federal Reserve Act (Act).\1\ The Act does
not define a quorum of the Board, and authorizes the Board to make all
rules and regulations necessary to enable the Board effectively to
perform its duties and functions.\2\ For many years, the Board defined
a quorum to be a majority (four members) of its authorized strength of
seven members. In 2003, the Board revised its definition of quorum of
the Board to be a majority of the Board members currently in office,
unless there are five members in office, in which case a quorum would
be four members.\3\ This modification allowed the Board to function
with fewer than four members in office and enhanced the Board's ability
to function during emergencies.
---------------------------------------------------------------------------
\1\ See 12 U.S.C. 241.
\2\ See 12 U.S.C. 248(i).
\3\ 66 FR 37686 (Jul 19, 2001), as amended at 68 FR 24743 (May
8, 2003).
---------------------------------------------------------------------------
Over the past decade, the Board has had to operate with fewer than
five members on several occasions.\4\ Based on this experience, the
Board has determined that substantial vacancies present administrative
and logistical challenges that make it difficult to conduct routine
business and efficiently manage operations, particularly with the
Board's traditional reliance on a 3-member committee structure. In
light of these considerations, the Board has reconsidered its quorum
practice and decided to amend its definition of a quorum \5\ to provide
that a quorum of the Board is four members, unless there are three or
fewer members in office, in which case a quorum would be all members in
office. This revised definition will facilitate the Board's ability to
continue to function efficiently during periods of substantial
vacancies on the Board. This revision does not alter the number of
Board members required to constitute a quorum or the functioning of the
Board's committee structure in normal operating environments (that is,
when five or more members are in office).
---------------------------------------------------------------------------
\4\ Since the current structure of the Board was established in
1936, the Board has had fewer than five members on only a few
occasions for a short period of time and the Board has never had
fewer than four members.
\5\ In a document published elsewhere in this issue of the
Federal Register.
---------------------------------------------------------------------------
Since this revision may make it more difficult to convene a quorum
of the Board under exigent circumstances, the Board also has added a
modified definition of quorum providing that, in an emergency
situation, a quorum of the Board consists of a majority of the Board
members in office.\6\ An emergency situation is defined as a situation
when action on a matter is necessary to prevent, correct, or mitigate
serious harm to the economy or the stability of the financial system,
and action is required before the full Board can convene. As part of
this final rule, the Board is adding a provision to its regulations
specifying that the Chair (or the Vice Chair, if the Chair is
unavailable) would be authorized to determine when an emergency
situation exists.
---------------------------------------------------------------------------
\6\ In a document published elsewhere in this issue of the
Federal Register.
---------------------------------------------------------------------------
The revised rule relates solely to the internal procedure of the
Board, and, accordingly, the public notice, public comment and delayed
effective date provisions of the Administrative Procedure Act do not
apply. See 5 U.S.C. 553(b) and (d). Because public notice and comment
is not required, the Regulatory Flexibility Act (5 U.S.C. 601 et seq.)
also does not apply to this action.
List of Subjects in 12 CFR Part 265
Authority delegations (Government agencies), Banks, banking.
Authority and Issuance
For the reasons set forth in the preamble, the Board amends 12 CFR
part 265 as follows:
PART 265--RULES REGARDING DELEGATION OF AUTHORITY
0
1. The authority citation of part 265 continues to read as follows:
Authority: 12 U.S.C. 248(i) and (k).
0
2. Section 265.4(c) is added to read as follows:
Sec. 265.4 Functions delegated to Board members.
* * * * *
(c) Exigent circumstances. The Chairman is authorized to determine
when an emergency situation exists for purposes of section 2(b)(2) of
the Board's Rules of Organization. If the Chairman is unavailable or
unable to determine that an emergency situation exists, then the Vice
Chairman is authorized to determine when an emergency situation exists.
[[Page 55496]]
By order of the Board of Governors of the Federal Reserve
System, October 31, 2017.
Ann E. Misback,
Secretary of the Board.
[FR Doc. 2017-24052 Filed 11-21-17; 8:45 am]
BILLING CODE 6210-01-P
