December 17, 2018 – Federal Register Recent Federal Regulation Documents

Submission for OMB Review; Comment Request
Document Number: 2018-27209
Type: Notice
Date: 2018-12-17
Agency: National Credit Union Administration, Agencies and Commissions
The National Credit Union Administration (NCUA) will submit the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice.
National Register of Historic Places; Notification of Pending Nominations and Related Actions
Document Number: 2018-27208
Type: Notice
Date: 2018-12-17
Agency: Department of the Interior, National Park Service
The National Park Service is soliciting comments on the significance of properties nominated before December 1, 2018, for listing or related actions in the National Register of Historic Places.
Fisheries of the Caribbean, Gulf of Mexico, and South Atlantic; Reef Fish Resources of the Gulf of Mexico; Commercial Reef Fish Fishery of the Gulf of Mexico; 2019 Red Grouper Commercial Quota Retention
Document Number: 2018-27201
Type: Rule
Date: 2018-12-17
Agency: Department of Commerce, National Oceanic and Atmospheric Administration
NMFS intends to withhold a portion of the red grouper commercial quota from the Individual Fishing Quota Program for Grouper and Tilefishes (IFQ) for the 2019 fishing year as a result of a proposed commercial quota reduction. The Gulf of Mexico Fishery Management Council (Council) requested that NMFS reduce the Gulf of Mexico (Gulf) red grouper commercial and recreational annual catch limits (ACLs) and associated annual catch targets (ACTs) through a temporary rule to provide increased protections to the stock. The commercial red grouper quota is equivalent to the commercial ACT. NMFS is currently evaluating the Council's request and may implement, in early 2019, a temporary rule to reduce the red grouper ACLs and ACTs. Because red grouper is managed under an IFQ program, NMFS distributes IFQ allocation to the program shareholders on January 1 of each year. After NMFS distributes the applicable commercial quota to shareholders, it cannot be recalled. Therefore, in anticipation of the possible commercial quota reduction, NMFS will withhold distribution of 59.4 percent, equivalent to 4.78 million lb (2.17 million kg), gutted weight, of red grouper IFQ allocation on January 1, 2019. If the quota reduction is not implemented by June 1, 2019, the withheld quota will be distributed to the shareholders. This action is necessary to protect the red grouper resource and to effectively manage the IFQ program in 2019.
Fisheries of the Northeastern United States; Summer Flounder Fishery; Quota Transfer
Document Number: 2018-27200
Type: Rule
Date: 2018-12-17
Agency: Department of Commerce, National Oceanic and Atmospheric Administration
NMFS announces that the Commonwealth of Virginia is transferring a portion of its 2018 commercial summer flounder quota to the State of Connecticut. This quota adjustment is necessary to comply with the Summer Flounder, Scup, and Black Sea Bass Fishery Management Plan quota transfer provisions. This announcement informs the public of the revised commercial quotas for Virginia and Connecticut.
Takes of Marine Mammals Incidental to Specified Activities; Taking Marine Mammals Incidental to US 101/Chehalis River Bridge-Scour Repair in Washington State
Document Number: 2018-27199
Type: Notice
Date: 2018-12-17
Agency: Department of Commerce, National Oceanic and Atmospheric Administration
In accordance with the regulations implementing the Marine Mammal Protection Act (MMPA) as amended, notification is hereby given that we have issued an incidental harassment authorization (IHA) to Washington State Department of Transportation (WSDOT) to take small numbers of marine mammals, by harassment, incidental to US 101/Chehalis River Bridge-Scour Repair in Washington State.
Medicare and Medicaid Programs, and Other Program Initiatives, and Priorities; Request for Nominations to the Advisory Panel on Outreach and Education (APOE)
Document Number: 2018-27198
Type: Notice
Date: 2018-12-17
Agency: Centers for Medicare & Medicaid Services, Department of Health and Human Services
This notice requests nominations for individuals to serve on the Advisory Panel on Outreach and Education (APOE).
Quartz Surface Products From China; Scheduling of the Final Phase of Countervailing Duty and Antidumping Duty Investigations
Document Number: 2018-27196
Type: Notice
Date: 2018-12-17
Agency: International Trade Commission, Agencies and Commissions
The Commission hereby gives notice of the scheduling of the final phase of antidumping and countervailing duty investigation Nos. 701-TA-606 and 731-TA-1416 (Final) pursuant to the Tariff Act of 1930 (``the Act'') to determine whether an industry in the United States is materially injured or threatened with material injury, or the establishment of an industry in the United States is materially retarded, by reason of imports of quartz surface products from China, provided for in subheading 6810.99 of the Harmonized Tariff Schedule of the United States, preliminarily determined by the Department of Commerce (``Commerce'') to be subsidized and sold at less-than-fair- value.
Certain Automated Teller Machines, ATM Modules, Components Thereof, and Products Containing the Same; Commission Determination To Institute a Rescission Proceeding, To Rescind the Remedial Orders, and To Terminate the Rescission Proceeding
Document Number: 2018-27193
Type: Notice
Date: 2018-12-17
Agency: International Trade Commission, Agencies and Commissions
Notice is hereby given that the U.S. International Trade Commission (``the Commission'') has determined to institute a rescission proceeding, to rescind a limited exclusion order and two cease-and-desist orders, and to terminate the rescission proceeding.
Product Change-Priority Mail and First-Class Package Service Negotiated Service Agreement
Document Number: 2018-27192
Type: Notice
Date: 2018-12-17
Agency: Postal Service, Agencies and Commissions
The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule's Competitive Products List.
Product Change-Priority Mail Negotiated Service Agreement
Document Number: 2018-27191
Type: Notice
Date: 2018-12-17
Agency: Postal Service, Agencies and Commissions
The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule's Competitive Products List.
Product Change-Priority Mail Negotiated Service Agreement
Document Number: 2018-27190
Type: Notice
Date: 2018-12-17
Agency: Postal Service, Agencies and Commissions
The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule's Competitive Products List.
Product Change-Priority Mail Negotiated Service Agreement
Document Number: 2018-27189
Type: Notice
Date: 2018-12-17
Agency: Postal Service, Agencies and Commissions
The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule's Competitive Products List.
Product Change-Priority Mail Negotiated Service Agreement
Document Number: 2018-27188
Type: Notice
Date: 2018-12-17
Agency: Postal Service, Agencies and Commissions
The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule's Competitive Products List.
Product Change-Priority Mail Negotiated Service Agreement
Document Number: 2018-27187
Type: Notice
Date: 2018-12-17
Agency: Postal Service, Agencies and Commissions
The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule's Competitive Products List.
Proposed Information Collection Activity; Comment Request
Document Number: 2018-27185
Type: Notice
Date: 2018-12-17
Agency: Department of Health and Human Services, Administration for Children and Families
Magnesium From Israel
Document Number: 2018-27184
Type: Notice
Date: 2018-12-17
Agency: International Trade Commission, Agencies and Commissions
Interpretive Rule, Shipping Act of 1984
Document Number: 2018-27181
Type: Rule
Date: 2018-12-17
Agency: Federal Maritime Commission, Agencies and Commissions
The Federal Maritime Commission (FMC or Commission) is revising its interpretation of the scope of the Shipping Act prohibition against failing to establish, observe, and enforce just and reasonable regulations and practices relating to or connected with receiving, handling, storing, or delivering property. Specifically, the Commission is clarifying that the proper scope of that prohibition in the Shipping Act of 1984 and the conduct covered by it is guided by the Commission's interpretation and precedent articulated in several earlier Commission cases, which require that a regulated entity engage in a practice or regulation on a normal, customary, and continuous basis and that such practice or regulation is unjust or unreasonable in order to violate that section of the Shipping Act.
National Institute on Aging; Notice of Closed Meeting
Document Number: 2018-27180
Type: Notice
Date: 2018-12-17
Agency: Department of Health and Human Services, National Institutes of Health
National Human Genome Research Institute; Notice of Closed Meeting
Document Number: 2018-27179
Type: Notice
Date: 2018-12-17
Agency: Department of Health and Human Services, National Institutes of Health
Combined Notice of Filings
Document Number: 2018-27174
Type: Notice
Date: 2018-12-17
Agency: Department of Energy, Federal Energy Regulatory Commission
Combined Notice of Filings #1
Document Number: 2018-27173
Type: Notice
Date: 2018-12-17
Agency: Department of Energy, Federal Energy Regulatory Commission
Agency Information Collection Activities; Proposed eCollection eComments Requested; Revision of and Renewal of Previously Approved Collection; Comments Requested; Electronic Applications for the Attorney General's Honors Program and the Summer Law Intern Program
Document Number: 2018-27172
Type: Notice
Date: 2018-12-17
Agency: Department of Justice
The Department of Justice (DOJ), Justice Management Division, Office of Attorney Recruitment and Management (OARM), will be submitting the following information collection request to the Office of Management and Budget (OMB) for review and approval in accordance with the Paperwork Reduction Act of 1995.
Air Plan Approval; New Hampshire; Transport Element for the 2010 Sulfur Dioxide National Ambient Air Quality Standard
Document Number: 2018-27171
Type: Rule
Date: 2018-12-17
Agency: Environmental Protection Agency
The Environmental Protection Agency (EPA) is approving a State Implementation Plan (SIP) revision submitted by the State of New Hampshire. This revision addresses the interstate transport requirements of the Clean Air Act (CAA), referred to as the good neighbor provision, with respect to the 2010 sulfur dioxide (SO2) national ambient air quality standard (NAAQS). This action approves New Hampshire's demonstration that the State is meeting its obligations regarding the transport of SO2 emissions into other states.
Air Plan Approval; Massachusetts; High Occupancy Vehicle Lanes
Document Number: 2018-27170
Type: Proposed Rule
Date: 2018-12-17
Agency: Environmental Protection Agency
The Environmental Protection Agency (EPA) is proposing to approve a State Implementation Plan (SIP) revision submitted by the Commonwealth of Massachusetts. This revision provides for the Massachusetts Department of Transportation (MassDOT) to construct and operate specified transit facilities and high occupancy vehicle (HOV) lanes established therein. Implementation and continued monitoring of these projects will help reduce the use of automobiles and improve traffic operations on the region's roadways, resulting in improved air quality. This action will have a beneficial effect on air quality because it is intended to reduce vehicle miles traveled (VMT) and traffic congestion in the Boston Metropolitan Area. Massachusetts has adopted these revisions to reduce emissions of volatile organic compounds (VOC), particulate matter (PM), and nitrogen oxides (NOX). This action is being taken under the Clean Air Act.
Consideration of Pain in the Disability Determination Process
Document Number: 2018-27169
Type: Proposed Rule
Date: 2018-12-17
Agency: Social Security Administration, Agencies and Commissions
We are soliciting public input to ensure that the manner in which we consider pain in adult and child disability claims under titles II and XVI of the Social Security Act (Act) remains aligned with contemporary medicine and health care delivery practices. Specifically, we are requesting public comments and supporting data related to the consideration of pain and documentation of pain in the medical evidence we use in connection with claims for benefits. We will use the responses to the questions below and any relevant research and data we obtain or receive to determine whether and how we should propose revisions to our current policy regarding the evaluation of pain.
Request for Input on Crypto-Asset Mechanics and Markets
Document Number: 2018-27167
Type: Notice
Date: 2018-12-17
Agency: Commodity Futures Trading Commission, Agencies and Commissions
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') in furtherance of the LabCFTC initiative is seeking public comment and feedback on this Request for Input (``RFI'') in order to better inform the Commission's understanding of the technology, mechanics, and markets for virtual currencies beyond Bitcoin, namely here Ether and its use on the Ethereum Network. The Commodity Exchange Act (``CEA'') grants the Commission regulatory authority over the commodity futures markets. The Commission is seeking public feedback in furtherance of oversight of these markets and regulatory policy development. The input from this request will advance the CFTC's mission of ensuring the integrity of the derivatives markets as well as monitoring and reducing systemic risk by enhancing legal certainty in the markets. The RFI seeks to understand similarities and distinctions between certain virtual currencies, including here Ether and Bitcoin, as well as Ether-specific opportunities, challenges, and risks. The Commission welcomes all public comments on these and related issues.
Agreement on Social Security Between the United States and Slovenia; Entry Into Force
Document Number: 2018-27166
Type: Notice
Date: 2018-12-17
Agency: Social Security Administration, Agencies and Commissions
We are giving notice that an agreement coordinating the United States (U.S.) and Slovenian social security programs will go into force effective on February 1, 2019. The Agreement with Slovenia, which was signed on January 17, 2017, is similar to U.S. social security agreements already in force with 28 other countriesAustralia, Austria, Belgium, Brazil, Canada, Chile, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Japan, Korea (South), Luxembourg, the Netherlands, Norway, Poland, Portugal, the Slovak Republic, Spain, Sweden, Switzerland, the United Kingdom, and Uruguay. Section 233 of the Social Security Act authorizes agreements of this type.
Meeting of the Advisory Committee on Training in Primary Care Medicine and Dentistry
Document Number: 2018-27165
Type: Notice
Date: 2018-12-17
Agency: Department of Health and Human Services, Health Resources and Services Administration
The Advisory Committee on Training in Primary Care Medicine and Dentistry (ACTPCMD) has scheduled a public meeting. Information about ACTPCMD and the agenda for this meeting can be found on the ACTPCMD website at: https://www.hrsa.gov/advisory-committees/ primarycare-dentist/.
Section 538 Guaranteed Rural Rental Housing Program Notice of Funding Availability Elimination
Document Number: 2018-27138
Type: Proposed Rule
Date: 2018-12-17
Agency: Department of Agriculture, Rural Housing Service
The Rural Housing Service (RHS or Agency) is amending its regulation to eliminate the requirement for the annual publication of Notice of Funding Availability (NOFA). Additionally, RHS will remove all references to the term NOFA in other various sections. The intended effect of this action is to allow the Agency to accept and start processing applications in a more fluid manner.
Airworthiness Directives; Air Comm Corporation Air Conditioning Systems
Document Number: 2018-27134
Type: Rule
Date: 2018-12-17
Agency: Federal Aviation Administration, Department of Transportation
We are adopting a new airworthiness directive (AD) for Air Comm Corporation (Air Comm) air conditioning systems installed on various model helicopters. This AD requires replacing electrical connectors and prohibits the installation of other parts. This AD was prompted by reports of overheated connectors. The actions of this AD are intended to address an unsafe condition on these products.
Airworthiness Directives; ATR-GIE Avions de Transport Régional Airplanes
Document Number: 2018-27130
Type: Rule
Date: 2018-12-17
Agency: Federal Aviation Administration, Department of Transportation
We are adopting a new airworthiness directive (AD) for all ATR-GIE Avions de Transport R[eacute]gional Model ATR42 and ATR72 airplanes. This AD was prompted by reports of cracking in main landing gear (MLG) universal joints (U-joints). This AD requires repetitive detailed inspections of the affected U-joints for cracks, and replacement if necessary. This AD also provides an optional terminating action for the repetitive inspections. We are issuing this AD to address the unsafe condition on these products.
Licensing, Financial Responsibility Requirements, and General Duties for Ocean Transportation Intermediaries
Document Number: 2018-27062
Type: Proposed Rule
Date: 2018-12-17
Agency: Federal Maritime Commission, Agencies and Commissions
The Federal Maritime Commission (FMC or Commission) proposes to amend its rules governing licensing, financial responsibility requirements, and general duties for ocean transportation intermediaries (OTIs). The proposed changes are mainly administrative and procedural.
Medical Device Classification Procedures: Incorporating Food and Drug Administration Safety and Innovation Act Procedures
Document Number: 2018-27015
Type: Rule
Date: 2018-12-17
Agency: Food and Drug Administration, Department of Health and Human Services
The Food and Drug Administration (FDA, the Agency, or we) is issuing a final rule to amend its regulations governing classification and reclassification of medical devices to conform to the applicable provisions of the Federal Food, Drug, and Cosmetic Act (FD&C Act) as amended by the Food and Drug Administration Safety and Innovation Act (FDASIA). FDA is also making additional changes unrelated to the FDASIA requirements, to update its regulations governing the classification and reclassification of medical devices. FDA is taking this action to codify the procedures and criteria that apply to the classification and reclassification of medical devices and to provide for classification of devices in the lowest regulatory class consistent with the public health and the statutory scheme for device regulation.
Notice of Final Adoption and Effective Date
Document Number: 2018-26990
Type: Notice
Date: 2018-12-17
Agency: National Capital Planning Commission, Agencies and Commissions
The National Capital Planning Commission adopted the Parks and Open Space Element (Element) of the ``Comprehensive Plan for the National Capital: Federal Elements'' on December 6, 2018. The Element guides planning and development, and addresses matters related to Federal parks and open space in the National Capital Region, which includes the District of Columbia; Montgomery and Prince George's Counties in Maryland; Arlington, Fairfax, Loudoun, and Prince William Counties in Virginia; and all cities within the boundaries of these counties. The Element provides the policy framework for Commission actions on plans and projects subject to Commission review. The Element is available online for review at https://www.ncpc.gov/plans/compplan/.
Tax Return Preparer Due Diligence Penalty Under Section 6695(g); Correction
Document Number: 2018-26969
Type: Rule
Date: 2018-12-17
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a correction to final regulations (TD 9842) that were published in the Federal Register on Wednesday, November 7, 2018. The final regulations relate to the tax return preparer penalty.
Air Plan Approval; Indiana; Cross-State Air Pollution Rule
Document Number: 2018-26920
Type: Rule
Date: 2018-12-17
Agency: Environmental Protection Agency
The Environmental Protection Agency (EPA) is approving a state submittal concerning the Cross-State Air Pollution Rule (CSAPR) that was submitted by Indiana on November 27, 2017 as a revision to the Indiana state implementation plan (SIP). Under CSAPR, large electricity generating units (EGUs) in Indiana are currently subject to Federal implementation plans (FIPs) requiring the units to participate in CSAPR's Federal trading program for annual emissions of nitrogen oxides (NOX), one of CSAPR's two Federal trading programs for annual emissions of sulfur dioxide (SO2), and one of CSAPR's two Federal trading programs for ozone season emissions of NOX. This action approves the State's regulations requiring large Indiana EGUs to participate in new CSAPR state trading programs for annual NOX, annual SO2, and ozone season NOX emissions integrated with the CSAPR Federal trading programs, replacing the corresponding FIP requirements. EPA is approving the State's submission because it meets the requirements of the Clean Air Act (CAA or Act) and EPA's regulations for approval of a CSAPR full SIP revision replacing the requirements of a CSAPR FIP. Under the CSAPR regulations, approval of the SIP revision automatically eliminates Indiana's units' requirements under the corresponding CSAPR FIPs addressing Indiana's interstate transport (or ``good neighbor'') obligations with respect to the 1997 fine particulate matter (PM2.5) national ambient air quality standard (NAAQS), the 2006 PM2.5 NAAQS, the 1997 ozone NAAQS, and the 2008 ozone NAAQS. Like the CSAPR FIP requirements that are being replaced, approval of the SIP revision fully satisfies Indiana's good neighbor obligations with respect to attainment and maintenance of the 1997 PM2.5 NAAQS, the 2006 PM2.5 NAAQS, and the 1997 ozone NAAQS and partially satisfies Indiana's good neighbor obligation with respect to attainment and maintenance of the 2008 ozone NAAQS. EPA proposed approval of the State's submission on August 14, 2018.
Proposed Establishment of Class E Airspace; Auburn, NE
Document Number: 2018-26917
Type: Proposed Rule
Date: 2018-12-17
Agency: Federal Aviation Administration, Department of Transportation
This action proposes to establish Class E airspace extending upward from 700 feet above the surface at Farington Field Airport, Auburn, NE. Controlled airspace is necessary to accommodate new standard instrument approach procedures developed at Farington Field Airport, for the safety and management of instrument flight rules (IFR) operations.
Proposed Modification of Class E Airspace for the Following Alaska Towns; Hooper Bay, AK; Kaltag, AK; King Salmon, AK; Kodiak, AK; Manokotak, AK; and Middleton Island, AK
Document Number: 2018-26810
Type: Proposed Rule
Date: 2018-12-17
Agency: Federal Aviation Administration, Department of Transportation
This action proposes to modify Class E airspace extending upward from 1,200 feet above the surface at Hooper Bay Airport, AK; Kaltag Airport, AK; King Salmon Airport, AK; Kodiak Airport, AK, Manokotak Airport, AK, and Middleton Island Airport, AK. This proposal would add exclusionary language to the legal descriptions of these airports to exclude Class E airspace extending beyond 12 miles from the shoreline and would ensure the safety and management of aircraft within the National Airspace System. Also, an editorial change would be made in the airspace designation for King Salmon Airport.
Senior Corps: Senior Companion Program, Foster Grandparent Program, Retired and Senior Volunteer Program
Document Number: 2018-26739
Type: Rule
Date: 2018-12-17
Agency: Corporation for National and Community Service, Agencies and Commissions
On February 14, 2018, the Corporation for National and Community Service (CNCS) proposed changes to existing regulations under the Domestic Volunteer Service Act of 1973, as amended, for the following Senior Corps programs: Foster Grandparent Program (FGP), Senior Companion Program (SCP), and the Retired Senior Volunteer Program (RSVP). The final rule will increase flexibility in program administration while maintaining accountability at the local level, correct grammatical errors, update terminology and streamline requirements for more effective administration of projects in local communities.
Airworthiness Directives; The Boeing Company Airplanes
Document Number: 2018-26622
Type: Rule
Date: 2018-12-17
Agency: Federal Aviation Administration, Department of Transportation
We are adopting a new airworthiness directive (AD) for all The Boeing Company Model 727 airplanes. This AD was prompted by a report of cracking in the inboard lower flange and adjacent web near the forward attachment of the outboard flap track at a certain position on a Model 737-300 airplane. The flap tracks of Model 737-300 airplanes are similar to the flap tracks of Model 727 airplanes. This AD requires repetitive detailed inspections and surface high frequency eddy current (HFEC) inspections of each outboard flap track at certain positions for any crack and discrepancy, and applicable on-condition actions. We are issuing this AD to address the unsafe condition on these products.
Airworthiness Directives; Airbus Defense and Space S.A. (Formerly Known as Construcciones Aeronauticas, S.A.) Airplanes
Document Number: 2018-26621
Type: Rule
Date: 2018-12-17
Agency: Federal Aviation Administration, Department of Transportation
We are adopting a new airworthiness directive (AD) for certain Airbus Defense and Space S.A. Model CN-235, CN-235-200 and CN-235-300 airplanes. This AD was prompted by a determination that new or more restrictive airworthiness limitations are necessary. This AD requires revising the maintenance or inspection program, as applicable, to incorporate new or more restrictive airworthiness limitations. We are issuing this AD to address the unsafe condition on these products.
Unlicensed Use of the 6 GHz Band
Document Number: 2018-26013
Type: Proposed Rule
Date: 2018-12-17
Agency: Federal Communications Commission, Agencies and Commissions
In this document, the Commission proposes to expand unlicensed use of the 5.925-7.125 GHz band (6 GHz band) while protecting the incumbent licensed services that operate in this spectrum. In the 5.925-6.425 GHz and 6.525-6.875 GHz sub-bands the proposed rules will allow unlicensed access points to operate only on frequencies determined by an automated frequency control (AFC) system. In the remainder of the 6 GHz band, the 6.425-6.525 GHz and 6.875-7.125 GHz sub-bands, no AFC system will be required, and the unlicensed access points will be permitted to operate at lower transmitted power. The proposed rules will also permit unlicensed client devices to operate under the control of an access point throughout the 6 GHz band.
Standardized Approach for Calculating the Exposure Amount of Derivative Contracts
Document Number: 2018-24924
Type: Proposed Rule
Date: 2018-12-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (together, the agencies) are inviting public comment on a proposal that would implement a new approach for calculating the exposure amount of derivative contracts under the agencies' regulatory capital rule. The proposed approach, called the standardized approach for counterparty credit risk (SA-CCR), would replace the current exposure methodology (CEM) as an additional methodology for calculating advanced approaches total risk-weighted assets under the capital rule. An advanced approaches banking organization also would be required to use SA-CCR to calculate its standardized total risk-weighted assets; a non-advanced approaches banking organization could elect to use either CEM or SA-CCR for calculating its standardized total risk-weighted assets. In addition, the proposal would modify other aspects of the capital rule to account for the proposed implementation of SA-CCR. Specifically, the proposal would require an advanced approaches banking organization to use SA-CCR with some adjustments to determine the exposure amount of derivative contracts for calculating total leverage exposure (the denominator of the supplementary leverage ratio). The proposal also would incorporate SA-CCR into the cleared transactions framework and would make other amendments, generally with respect to cleared transactions. The proposed introduction of SA-CCR would indirectly affect the Board's single counterparty credit limit rule, along with other rules. The Office of the Comptroller of the Currency also is proposing to update cross-references to CEM and add SA-CCR as an option for determining exposure amounts for derivative contracts in its lending limit rules.
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