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