Company-Run Stress Testing Requirements for FDIC-Supervised State Nonmember Banks and State Savings Associations; Correction, 64984-64985 [2019-25691]

Download as PDF 64984 § 1599.18 appeals. Federal Register / Vol. 84, No. 228 / Tuesday, November 26, 2019 / Rules and Regulations Opportunities to object and (a) FAS will provide an opportunity to a recipient to object to, and provide information and documentation challenging, any action taken by FAS pursuant to § 1599.16. FAS will comply with any requirements for hearings, appeals, or other administrative proceedings to which the recipient is entitled under any other statute or regulation applicable to the action involved. For example, if the action taken by FAS pursuant to § 1599.16 is to initiate suspension or debarment proceedings as authorized under 2 CFR parts 180 and 417, then the requirements in 2 CFR parts 180 and 417 will apply instead of the requirements in this section. In the absence of other applicable statutory or regulatory requirements, the requirements set forth in this section will apply. (b) The recipient must submit its objection in writing, along with any documentation, to the official specified in the agreement within 30 days after the date of FAS’s written notification to the recipient of the FAS action being challenged. This official will endeavor to notify the recipient of his or her determination (the initial determination) within 60 days after the date that FAS received the recipient’s written objection. (c) The recipient may appeal the initial determination to the Administrator, FAS. An appeal must be in writing and be submitted to the Office of the Administrator within 30 days after the date of the initial determination. The recipient may submit additional documentation with its appeal. (d) The Administrator will base the determination on appeal upon information contained in the administrative record and will endeavor to make a determination within 60 days after the date that FAS received the appeal. The determination of the Administrator will be the final determination of FAS. The recipient must exhaust all administrative remedies contained in this section before pursuing judicial review of a determination by the Administrator. § 1599.19 Audit requirements. (a) The audit requirements in subpart F of 2 CFR part 200 apply to recipients and subrecipients under this part other than those that are for-profit entities, foreign public entities, or foreign organizations. (b) A recipient or subrecipient that is a for-profit entity or a foreign organization, and that expends, during VerDate Sep<11>2014 15:52 Nov 25, 2019 Jkt 250001 its fiscal year, a total of at least the audit requirement threshold in 2 CFR 200.501 in Federal awards, is required to obtain an audit. Such a recipient or subrecipient has the following two options to satisfy the requirement in this paragraph (b): (1)(i) A financial audit of the agreement or subagreement, in accordance with the Government Auditing Standards issued by the United States Government Accountability Office (GAO), if the recipient or subrecipient expends Federal awards under only one FAS program during such fiscal year; or (ii) A financial audit of all Federal awards from FAS, in accordance with GAO’s Government Auditing Standards, if the recipient or subrecipient expends Federal awards under multiple FAS programs during such fiscal year; or (2) An audit that meets the requirements contained in subpart F of 2 CFR part 200. (c) A recipient or subrecipient that is a for-profit entity or a foreign organization, and that expends, during its fiscal year, a total that is less than the audit requirement threshold in 2 CFR 200.501 in Federal awards, is exempt from requirements under this section for an audit for that year, except as provided in paragraphs (d) and (f) of this section, but it must make records available for review by appropriate officials of Federal agencies. (d) FAS may require an annual financial audit of an agreement or subagreement when the audit requirement threshold in 2 CFR 200.501 is not met. In that case, FAS must provide funds under the agreement for this purpose, and the recipient or subrecipient, as applicable, must arrange for such audit and submit it to FAS. (e) When a recipient or subrecipient that is a for-profit entity or a foreign organization is required to obtain a financial audit under this section, it must provide a copy of the audit to FAS within 60 days after the end of its fiscal year. (f) FAS, the USDA Office of Inspector General, or GAO may conduct or arrange for additional audits of any recipients or subrecipients, including for-profit entities and foreign organizations. Recipients and subrecipients must promptly comply with all requests related to such audits. If FAS conducts or arranges for an additional audit, such as an audit with respect to a particular agreement, FAS will fund the full cost of such an audit, in accordance with 2 CFR 200.503(d). PO 00000 Frm 00018 Fmt 4700 Sfmt 4700 § 1599.20 Paperwork Reduction Act. The information collection requirements contained in this part have been approved by OMB under the Paperwork Reduction Act of 1995, 44 U.S.C. Chapter 35, and have been assigned OMB control number 0551– 0035. A person is not required to respond to a collection of information unless it displays a currently valid OMB control number. Dated: October 29, 2019. Ken Isley, Administrator, Foreign Agricultural Service. [FR Doc. 2019–24894 Filed 11–25–19; 8:45 am] BILLING CODE 3410–10–P FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Part 325 RIN 3064–AE84 Company-Run Stress Testing Requirements for FDIC-Supervised State Nonmember Banks and State Savings Associations; Correction Federal Deposit Insurance Corporation. ACTION: Final rule; correcting amendments. AGENCY: The Federal Deposit Insurance Corporation (FDIC) is correcting a final rule that appeared in the Federal Register on October 24, 2019, regarding Company-Run Stress Testing Requirements for FDICSupervised State Nonmember Banks and State Savings Associations. This correction replaces three additional references to ‘‘subpart’’ with ‘‘part,’’ in order to standardize the language in FDIC regulations. DATES: Effective November 25, 2019. FOR FURTHER INFORMATION CONTACT: Ryan Sheller, Section Chief, Division of Risk Management, (202) 412–4861, RSheller@fdic.gov, or Benjamin Klein, Counsel, Legal Division, (202) 898– 7027, bklein@fdic.gov, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429. SUPPLEMENTARY INFORMATION: On October 24, 2019, the FDIC published a final rule, Company-Run Stress Testing Requirements for FDIC-Supervised State Nonmember Banks and State Savings Associations.1 As discussed in the preamble,2 the final rule changed references to ‘‘subpart’’ to ‘‘this part’’ following the redesignation of the FDIC’s stress test rule from subpart C of SUMMARY: 1 84 2 84 FR 56929 (Oct. 24, 2019). FR 56929, 56932. E:\FR\FM\26NOR1.SGM 26NOR1 Federal Register / Vol. 84, No. 228 / Tuesday, November 26, 2019 / Rules and Regulations 12 CFR part 325 to occupy all of part 325.3 The final rule inadvertently omitted corresponding changes from ‘‘subpart’’ to ‘‘part’’ in three sections of the final rule: §§ 325.1(c)(7), 325.3(a)(1), and 325.7(b). Accordingly, this document is issued to correct those sections of the final rule with the appropriate references to ‘‘part’’ 325. For the reasons set out in the preamble, the FDIC hereby amend 12 CFR part 325 by making the following correcting amendments. PART 325—STRESS TESTING 1. The authority citation for part 325 continues to read as follows: ■ Authority: 12 U.S.C. 5365(i)(2), 12 U.S.C. 5412(b)(2)(C), 12 U.S.C. 1818, 12 U.S.C. 1819(a)(Tenth), 12 U.S.C. 1831o, and 12 U.S.C. 1831p–1. publishes a summary of its stress test results with its parent bank holding company’s or savings and loan holding company’s summary of stress test results. Subsidiary covered banks electing to satisfy their public disclosure requirement in this manner must include a summary of changes in regulatory capital ratios of such covered bank over the planning horizon, and an explanation of the most significant causes for the changes in regulatory capital ratios. * * * * * www.easa.europa.eu. You may find this IBR material on the EASA website at https://ad.easa.europa.eu. You may view this IBR material at the FAA, Transport Standards Branch, 2200 South 216th St., Des Moines, WA. For information on the availability of this material at the FAA, call 206–231–3195. It is also available in the AD docket on the internet at https:// www.regulations.gov by searching for and locating Docket No. FAA–2019– 0667. Dated on November 18, 2019. Federal Deposit Insurance Corporation. Annmarie H. Boyd, Assistant Executive Secretary. You may examine the AD docket on the internet at https:// www.regulations.gov by searching for and locating Docket No. FAA–2019– 0667; or in person at Docket Operations between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. The AD docket contains this final rule, the regulatory evaluation, any comments received, and other information. The address for Docket Operations is U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue SE, Washington, DC 20590. FOR FURTHER INFORMATION CONTACT: Sanjay Ralhan, Aerospace Engineer, International Section, Transport Standards Branch, FAA, 2200 South 216th St., Des Moines, WA 98198; phone and fax: 206–231–3223. SUPPLEMENTARY INFORMATION: [FR Doc. 2019–25691 Filed 11–22–19; 8:45 am] BILLING CODE 6714–01–P 2. Amend § 325.1 by revising paragraph (c)(7) to read as follows: DEPARTMENT OF TRANSPORTATION § 325.1 Authority, purpose, and reservation of authority. Federal Aviation Administration ■ * * * * * (c) * * * (7) Nothing in this part limits the authority of the Corporation under any other provision of law or regulation to take supervisory or enforcement action, including action to address unsafe and unsounds practices or conditions, or violations of law or regulation. * * * * * ■ 3. Amend § 325.3 by revising paragraph (a)(1) to read as follows: § 325.3 Applicability (a) * * * (1) A state nonmember bank or state savings association that is a covered bank as of December 31, 2019, is subject to the requirements of this part for the 2020 reporting year. * * * * * ■ 4. Amend § 325.7 by revising paragraph (b) to read as follows: § 325.7 Publication of stress test results. * * * * * (b) Publication method. The summary required under this section may be published on the covered ban’s website or in any other forum that is reasonably accessible to the public. A covered bank that is a consolidated subsidiary of a bank holding company or savings and loan holding company that is required to conduct a company-run stress test under applicable regulations of the Board of Governors of the Federal Reserve System will be deemed to have satisfied the public disclosure requirements under this part if it 3 83 FR 17737 (April 24, 2019). VerDate Sep<11>2014 15:52 Nov 25, 2019 Jkt 250001 64985 14 CFR Part 39 [Docket No. FAA–2019–0667; Product Identifier 2019–NM–085–AD; Amendment 39–19791; AD 2019–22–12] RIN 2120–AA64 Airworthiness Directives; Airbus SAS Airplanes Examining the AD Docket Federal Aviation Administration (FAA), Department of Transportation (DOT). ACTION: Final rule. Discussion The FAA is adopting a new airworthiness directive (AD) for certain Airbus SAS Model A320–214, –216, –232, and –233 airplanes. This AD was prompted by a report of undetected contacts between certain harnesses of the common fuel quantity indicating system and the center tank structure. This AD requires modification of the fasteners for certain harness routings, as specified in a European Aviation Safety Agency (EASA) AD, which is incorporated by reference. The FAA is issuing this AD to address the unsafe condition on these products. DATES: This AD is effective December 31, 2019. The Director of the Federal Register approved the incorporation by reference of a certain publication listed in this AD as of December 31, 2019. ADDRESSES: For the material incorporated by reference (IBR) in this AD, contact the EASA, KonradAdenauer-Ufer 3, 50668 Cologne, Germany; phone: +49 221 89990 1000; email: ADs@easa.europa.eu; internet: The EASA, which is the Technical Agent for the Member States of the European Union, has issued EASA AD 2018–0155, dated July 20, 2018 (‘‘EASA AD 2018–0155’’) (also referred to as the Mandatory Continuing Airworthiness Information, or ‘‘the MCAI’’), to correct an unsafe condition for certain Airbus SAS Model A320–214, –216, –232, and –233 airplanes. The FAA issued a notice of proposed rulemaking (NPRM) to amend 14 CFR part 39 by adding an AD that would apply to certain Airbus SAS Model A320–214, –216, –232, and –233 airplanes. The NPRM published in the Federal Register on August 30, 2019 (84 FR 45690). The NPRM was prompted by a report of undetected contacts between certain harnesses of the common fuel quantity indicating system and the center tank structure. The NPRM proposed to require modification of the fasteners for certain harness routings. The FAA is issuing this AD to address undetected contacts between certain harnesses of the common fuel quantity indicating system and the center tank AGENCY: SUMMARY: PO 00000 Frm 00019 Fmt 4700 Sfmt 4700 E:\FR\FM\26NOR1.SGM 26NOR1

Agencies

[Federal Register Volume 84, Number 228 (Tuesday, November 26, 2019)]
[Rules and Regulations]
[Pages 64984-64985]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25691]


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FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 325

RIN 3064-AE84


Company-Run Stress Testing Requirements for FDIC-Supervised State 
Nonmember Banks and State Savings Associations; Correction

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Final rule; correcting amendments.

-----------------------------------------------------------------------

SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is correcting 
a final rule that appeared in the Federal Register on October 24, 2019, 
regarding Company-Run Stress Testing Requirements for FDIC-Supervised 
State Nonmember Banks and State Savings Associations. This correction 
replaces three additional references to ``subpart'' with ``part,'' in 
order to standardize the language in FDIC regulations.

DATES: Effective November 25, 2019.

FOR FURTHER INFORMATION CONTACT: Ryan Sheller, Section Chief, Division 
of Risk Management, (202) 412-4861, [email protected], or Benjamin 
Klein, Counsel, Legal Division, (202) 898-7027, [email protected], 
Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, 
DC 20429.

SUPPLEMENTARY INFORMATION: On October 24, 2019, the FDIC published a 
final rule, Company-Run Stress Testing Requirements for FDIC-Supervised 
State Nonmember Banks and State Savings Associations.\1\ As discussed 
in the preamble,\2\ the final rule changed references to ``subpart'' to 
``this part'' following the redesignation of the FDIC's stress test 
rule from subpart C of

[[Page 64985]]

12 CFR part 325 to occupy all of part 325.\3\ The final rule 
inadvertently omitted corresponding changes from ``subpart'' to 
``part'' in three sections of the final rule: Sec. Sec.  325.1(c)(7), 
325.3(a)(1), and 325.7(b). Accordingly, this document is issued to 
correct those sections of the final rule with the appropriate 
references to ``part'' 325.
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    \1\ 84 FR 56929 (Oct. 24, 2019).
    \2\ 84 FR 56929, 56932.
    \3\ 83 FR 17737 (April 24, 2019).
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    For the reasons set out in the preamble, the FDIC hereby amend 12 
CFR part 325 by making the following correcting amendments.

PART 325--STRESS TESTING

0
1. The authority citation for part 325 continues to read as follows:

    Authority: 12 U.S.C. 5365(i)(2), 12 U.S.C. 5412(b)(2)(C), 12 
U.S.C. 1818, 12 U.S.C. 1819(a)(Tenth), 12 U.S.C. 1831o, and 12 
U.S.C. 1831p-1.


0
2. Amend Sec.  325.1 by revising paragraph (c)(7) to read as follows:


Sec.  325.1  Authority, purpose, and reservation of authority.

* * * * *
    (c) * * *
    (7) Nothing in this part limits the authority of the Corporation 
under any other provision of law or regulation to take supervisory or 
enforcement action, including action to address unsafe and unsounds 
practices or conditions, or violations of law or regulation.
* * * * *

0
3. Amend Sec.  325.3 by revising paragraph (a)(1) to read as follows:


Sec.  325.3  Applicability

    (a) * * *
    (1) A state nonmember bank or state savings association that is a 
covered bank as of December 31, 2019, is subject to the requirements of 
this part for the 2020 reporting year.
* * * * *

0
4. Amend Sec.  325.7 by revising paragraph (b) to read as follows:


Sec.  325.7  Publication of stress test results.

* * * * *
    (b) Publication method. The summary required under this section may 
be published on the covered ban's website or in any other forum that is 
reasonably accessible to the public. A covered bank that is a 
consolidated subsidiary of a bank holding company or savings and loan 
holding company that is required to conduct a company-run stress test 
under applicable regulations of the Board of Governors of the Federal 
Reserve System will be deemed to have satisfied the public disclosure 
requirements under this part if it publishes a summary of its stress 
test results with its parent bank holding company's or savings and loan 
holding company's summary of stress test results. Subsidiary covered 
banks electing to satisfy their public disclosure requirement in this 
manner must include a summary of changes in regulatory capital ratios 
of such covered bank over the planning horizon, and an explanation of 
the most significant causes for the changes in regulatory capital 
ratios.
* * * * *

    Dated on November 18, 2019.

Federal Deposit Insurance Corporation.
Annmarie H. Boyd,
Assistant Executive Secretary.
[FR Doc. 2019-25691 Filed 11-22-19; 8:45 am]
BILLING CODE 6714-01-P
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