Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations, 70887 [2019-27717]

Download as PDF Federal Register / Vol. 84, No. 247 / Thursday, December 26, 2019 / Rules and Regulations attorney fees, market value appraisals, and foreclosure costs. Annual fees advanced by the lender to the Agency are ineligible for reimbursement when calculating the loss claim payment. ■ 11. Amend § 3555.353 by revising paragraphs (a) introductory text and (b) to read as follows: § 3555.353 Net recovery value. * * * * * (a) For a property that has been sold. When a loss claim is filed on a property that was sold to a third party at the foreclosure sale or through an approved pre-foreclosure sale, net recovery value is calculated as follows: * * * * * (b) For a property that has been acquired. When a loss claim is filed on a property acquired by the lender through a foreclosure sale or a deed-inlieu of foreclosure, the net recovery value is based on an estimated sales price calculated using a market value appraisal along with holding and disposition costs calculated using the acquisition and management factor (also known as the VA Net Value Factor) published by the VA, and other factors as determined by the Agency. The lender must submit a loss claim package, including a market value appraisal, within 60 days of the foreclosure sale date or the date the lender acquires title. If eviction action is required in order to obtain a market value appraisal, the lender must submit the loss claim package, including the market value appraisal, within 60 days of the date the occupants clear the premises and in accordance with other requirements of this subpart. with any loss claim request in accordance with subpart H. ■ 12. Amend § 3555.354 by revising the introductory text and paragraph (b) to read as follows: khammond on DSKJM1Z7X2PROD with RULES § 3555.354 Loss claim procedures. All lenders must use a web-based automated system designated by the Agency to submit all loss claim requests. * * * * * (b) REO. If at liquidation, the title to the property is conveyed to the lender, the lender will submit a loss claim package, including a market value appraisal, within 60 days of the foreclosure sale date or the date the lender acquires title. If eviction action is required in order to obtain a market value appraisal, the lender must submit the loss claim package within 60 days of the date the occupants clear the premises. The lender must order a market value appraisal and include the VerDate Sep<11>2014 15:55 Dec 23, 2019 Jkt 250001 market value appraisal with the loss claim package. The Agency will use the market value appraisal, along with other Agency required documentation, to determine the property value for the basis of the loss claim. The Agency will apply an acquisition and management resale factor to estimate holding and disposition costs, based on the most current VA Management and Acquisition Factor found at https:// www.benefits.va.gov/HOMELOANS/ servicers_valeri.asp. * * * * * § 3555.356 ■ [Removed and Reserved] 13. Remove and reserve § 3555.356. Dated: November 25, 2019. Bruce W. Lammers, Administrator, Rural Housing Service. [FR Doc. 2019–27504 Filed 12–23–19; 8:45 am] BILLING CODE 3410–XV–P FEDERAL RESERVE SYSTEM 12 CFR Parts 206, 208, 211, 215, 217, 223, 225, 238, and 251 [Regulation Q; Docket No. R–1638] RIN 7100–AF 29 Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations Board of Governors of the Federal Reserve System (Board). ACTION: Final rule; correction. AGENCY: The Federal Register document of November 13, 2019, promulgating a final rule that provides for a simple measure of capital adequacy for certain community banking organization had two erroneous amendment instructions. This document corrects these errors. DATES: This correction is effective on January 1, 2020. SUPPLEMENTARY INFORMATION: In FR Doc. 2019–23472 appearing on page 61776 in the Federal Register of Wednesday, November 13, 2019, the following corrections are made: ■ 1. On page 61796, in the center column, amendatory instruction 31 is corrected to read as follows: ‘‘31. Section 208.43 is amended by revising paragraphs (a), (b) introductory text, and (b)(1) to read as follows:’’ ■ 2. On page 61799, in the center column, amendatory instruction 46 is corrected to read as follows: ‘‘46. Section 225.14 is amended by: a. Redesignating footnote 3 to paragraph (a)(1)(ii) as footnote 1 to paragraph (a)(1)(ii); SUMMARY: PO 00000 Frm 00007 Fmt 4700 Sfmt 4700 70887 b. Revising paragraphs (a)(1)(v), (a)(1)(vii), and (c)(6)(i)(A) and (B); and c. Adding paragraphs (c)(6)(iii) and (f).’’ Board of Governors of the Federal Reserve System, December 18, 2019. Ann Misback, Secretary of the Board. [FR Doc. 2019–27717 Filed 12–23–19; 8:45 am] BILLING CODE 6210–01–P DEPARTMENT OF STATE 22 CFR Part 120 [Public Notice: 10946] RIN 1400–AE76 International Traffic in Arms Regulations: Creation of Definition of Activities That Are Not Exports, Reexports, Retransfers, or Temporary Imports; Creation of Definition of Access Information; Revisions to Definitions of Export, Reexport, Retransfer, Temporary Import, and Release Department of State. Interim final rule; request for comment. AGENCY: ACTION: The Department of State amends the International Traffic in Arms Regulations (ITAR) to create a definition of ‘‘activities that are not exports, reexports, retransfers, or temporary imports’’ by combining existing text from the regulations with new text regarding secured unclassified technical data. The activities included in the new definition are: Launching items into space, providing technical data to U.S. persons within the United States or within a single country abroad, and moving a defense article between the states, possessions, and territories of the United States. The definition also clarifies that the electronic transmission and storage of properly secured unclassified technical data via foreign communications infrastructure does not constitute an export. Additionally, the Department amends the ITAR to create a definition of ‘‘access information’’ and revise the definition of ‘‘release’’ to address the provision of access information to an unauthorized foreign person. DATES: Effective date: This interim final rule is effective on March 25, 2020. Comments due date: Interested parties may submit comments by January 27, 2020. SUMMARY: Interested parties may submit comments by one of the following methods: ADDRESSES: E:\FR\FM\26DER1.SGM 26DER1

Agencies

[Federal Register Volume 84, Number 247 (Thursday, December 26, 2019)]
[Rules and Regulations]
[Page 70887]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-27717]


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FEDERAL RESERVE SYSTEM

12 CFR Parts 206, 208, 211, 215, 217, 223, 225, 238, and 251

[Regulation Q; Docket No. R-1638]
RIN 7100-AF 29


Regulatory Capital Rule: Capital Simplification for Qualifying 
Community Banking Organizations

AGENCY: Board of Governors of the Federal Reserve System (Board).

ACTION: Final rule; correction.

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SUMMARY: The Federal Register document of November 13, 2019, 
promulgating a final rule that provides for a simple measure of capital 
adequacy for certain community banking organization had two erroneous 
amendment instructions. This document corrects these errors.

DATES: This correction is effective on January 1, 2020.

SUPPLEMENTARY INFORMATION: In FR Doc. 2019-23472 appearing on page 
61776 in the Federal Register of Wednesday, November 13, 2019, the 
following corrections are made:

0
1. On page 61796, in the center column, amendatory instruction 31 is 
corrected to read as follows:
    ``31. Section 208.43 is amended by revising paragraphs (a), (b) 
introductory text, and (b)(1) to read as follows:''

0
2. On page 61799, in the center column, amendatory instruction 46 is 
corrected to read as follows:
    ``46. Section 225.14 is amended by:
    a. Redesignating footnote 3 to paragraph (a)(1)(ii) as footnote 1 
to paragraph (a)(1)(ii);
    b. Revising paragraphs (a)(1)(v), (a)(1)(vii), and (c)(6)(i)(A) and 
(B); and
    c. Adding paragraphs (c)(6)(iii) and (f).''

    Board of Governors of the Federal Reserve System, December 18, 
2019.
Ann Misback,
Secretary of the Board.
[FR Doc. 2019-27717 Filed 12-23-19; 8:45 am]
BILLING CODE 6210-01-P