Assessments; Corrections, 71227-71228 [2020-23492]
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Federal Register / Vol. 85, No. 217 / Monday, November 9, 2020 / Rules and Regulations
ADAMS package accession
No.
Document
Holtec International HI–STORM UMAX Amendment No. 4 Responses to Request for Additional Information, April
13, 2020.
User Need Memorandum to J. Cai from J. McKirgan with Proposed Certificate of Compliance No. 1040, Amendment No. 4; Associated Proposed Technical Specifications; and the Preliminary Safety Evaluation Report, July
21, 2020.
The NRC may post materials related
to this document, including public
comments, on the Federal Rulemaking
website at https://www.regulations.gov
under Docket ID NRC–2020–0179. The
Federal Rulemaking website allows you
to receive alerts when changes or
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List of Subjects in 10 CFR Part 72
Administrative practice and
procedure, Hazardous waste, Indians,
Intergovernmental relations, Nuclear
energy, Penalties, Radiation protection,
Reporting and recordkeeping
requirements, Security measures, Spent
fuel, Whistleblowing.
For the reasons set out in the
preamble and under the authority of the
Atomic Energy Act of 1954, as amended;
the Energy Reorganization Act of 1974,
as amended; the Nuclear Waste Policy
Act of 1982, as amended; and 5 U.S.C.
552 and 553; the NRC is adopting the
following amendments to 10 CFR part
72:
2. In § 72.214, Certificate of
Compliance No. 1040 is revised to read
as follows:
■
§ 72.214 List of approved spent fuel
storage casks.
*
*
*
*
*
Certificate Number: 1040.
Initial Certificate Effective Date: April 6,
2015.
Amendment Number 1 Effective Date:
September 8, 2015.
Amendment Number 2 Effective Date:
January 9, 2017.
Amendment Number 3 [RESERVED]
Amendment Number 4 Effective Date:
January 25, 2021.
SAR Submitted by: Holtec International,
Inc.
SAR Title: Final Safety Analysis Report
for the Holtec International HI–
STORM UMAX Canister Storage
System.
Docket Number: 72–1040.
Certificate Expiration Date: April 6,
2035.
Model Number: MPC–37, MPC–89.
*
*
*
*
*
Dated October 21, 2020.
For the Nuclear Regulatory Commission.
Margaret M. Doane,
Executive Director for Operations.
[FR Doc. 2020–24320 Filed 11–6–20; 8:45 am]
PART 72—LICENSING
REQUIREMENTS FOR THE
INDEPENDENT STORAGE OF SPENT
NUCLEAR FUEL, HIGH-LEVEL
RADIOACTIVE WASTE, AND
REACTOR-RELATED GREATER THAN
CLASS C WASTE
khammond on DSKJM1Z7X2PROD with RULES
15:57 Nov 06, 2020
Jkt 253001
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 327
Assessments; Corrections
Authority: Atomic Energy Act of 1954,
secs. 51, 53, 57, 62, 63, 65, 69, 81, 161, 182,
183, 184, 186, 187, 189, 223, 234, 274 (42
U.S.C. 2071, 2073, 2077, 2092, 2093, 2095,
2099, 2111, 2201, 2210e, 2232, 2233, 2234,
2236, 2237, 2238, 2273, 2282, 2021); Energy
Reorganization Act of 1974, secs. 201, 202,
206, 211 (42 U.S.C. 5841, 5842, 5846, 5851);
National Environmental Policy Act of 1969
(42 U.S.C. 4332); Nuclear Waste Policy Act
of 1982, secs. 117(a), 132, 133, 134, 135, 137,
141, 145(g), 148, 218(a) (42 U.S.C. 10137(a),
10152, 10153, 10154, 10155, 10157, 10161,
10165(g), 10168, 10198(a)); 44 U.S.C. 3504
note.
VerDate Sep<11>2014
BILLING CODE 7590–01–P
RIN 3064–AF64
1. The authority citation for part 72
continues to read as follows:
■
Federal Deposit Insurance
Corporation.
ACTION: Correcting amendments.
AGENCY:
The Federal Deposit
Insurance Corporation (FDIC) is making
technical amendments to its rules
governing deposit insurance
assessments in two places to conform
regulatory text to the text that was
adopted by the FDIC Board of Directors
(FDIC Board). Due to publishing errors,
incorrect text was printed in the Federal
Register and the Code of Federal
SUMMARY:
PO 00000
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71227
Fmt 4700
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ML20111A237.
ML20161A087.
Regulations. The first amendment will
conform the value of the weighted
charge-off rate for loans secured by
nonfarm nonresidential properties that
appears in the FDIC’s assessment
regulations to the charge-off rate
adopted by the FDIC Board. The second
amendment will conform a footnote that
defines two terms in the descriptions of
the counterparty measures for purposes
of deposit insurance assessments to the
language adopted by the FDIC Board.
The technical amendments will not
affect assessments previously paid by
insured depository institutions (IDIs) or
assessments paid by IDIs in the future.
DATES: Effective November 9, 2020.
FOR FURTHER INFORMATION CONTACT:
Daniel Hoople, Senior Financial
Economist, Banking and Regulatory
Policy Section, Division of Insurance
and Research, (202) 898–3835,
dhoople@fdic.gov; Nefretete Smith,
Counsel, Legal Division, (202) 898–
6851, nefsmith@fdic.gov.
SUPPLEMENTARY INFORMATION:
I. Technical Amendment Regarding the
Loan Mix Index
The FDIC assesses all IDIs 1 an
amount for deposit insurance equal to
the institution’s deposit insurance
assessment base multiplied by its riskbased assessment rate.2 On May 20,
2016, the FDIC published a final rule
(2016 final rule) that refined the deposit
insurance assessment system for
established small IDIs.3 Under the 2016
final rule, one of the measures used to
calculate the assessment rate of an
established small IDI is the loan mix
index, a measure of the extent to which
an IDI’s total assets include higher-risk
categories of loans.
This technical amendment corrects
the historical weighted charge-off rate
for loans secured by nonfarm
nonresidential properties, one of the
categories of loans used in the loan mix
index, that is currently published in the
Code of Federal Regulations. Due to an
inadvertent publishing error, the rate
1 As used in this notice, the term ‘‘insured
depository institution’’ has the same meaning as the
definition used in Section 3 of the Federal Deposit
Insurance Act (FDI Act), 12 U.S.C. 1813(c)(2).
2 See generally 12 CFR 327.3(b)(1).
3 81 FR 32179 (May 20, 2016).
E:\FR\FM\09NOR1.SGM
09NOR1
71228
Federal Register / Vol. 85, No. 217 / Monday, November 9, 2020 / Rules and Regulations
khammond on DSKJM1Z7X2PROD with RULES
that appeared in the Federal Register
notice for the final rule on May 20, 2016
(81 FR 32179), 0.7289274, differs from
the historical weighted average
industrywide charge-off rate that the
FDIC Board adopted on April 26, 2016,
and that the FDIC uses to calculate an
IDI’s loan mix index, 0.7286274, by
three ten-thousandths of a percentage
point. The technical amendment will
not affect assessments previously paid
by IDIs, or assessments paid by IDIs in
the future, because the value for loans
secured by nonfarm nonresidential
properties that the FDIC uses to
calculate the loan mix index is the value
adopted by the FDIC Board in the 2016
final rule.
II. Technical Amendment Regarding
Description of Scorecard Measures for
Highly Complex Institutions
In 2014, the FDIC published a final
rule (2014 final rule) that, among other
things, requires highly complex
institutions—generally, those with at
least $50 billion in total assets (or
owned by a parent holding company
with at least $500 billion in assets) or
those defined as processing banks or
trust companies—to measure
counterparty exposure for deposit
insurance assessment purposes using
the Basel III standardized approach.4
Counterparty exposure is captured in
two measures—the ratio of top 20
counterparty exposures to Tier 1 capital
and reserves and the ratio of the largest
counterparty exposure to Tier 1 capital
and reserves (collectively, the
counterparty exposure measures)—
which are used to determine a highly
complex institution’s assessment rate.
The 2014 final rule, among other
things, revised footnote 2 in section VI.,
Description of Scorecard Measures, in
appendix A to subpart A of the
assessment regulations to define two
terms—‘‘secured financing transactions’’
(SFTs) and ‘‘default fund
contribution’’—used in the descriptions
of the counterparty exposure measures.
Due to an inadvertent publishing error,
the revisions to the second footnote that
were adopted by the FDIC Board on
November 18, 2014, and published in
the Federal Register on November 26,
2014, do not appear in the current
version of the Code of Federal
Regulations.
This technical amendment replaces
the footnote that appears in the Code of
Federal Regulations with the version
adopted by the FDIC Board in the 2014
final rule. The technical amendment
will not affect assessments previously
paid by IDIs, or assessments paid by
IDIs in the future, because the
definitions the FDIC uses to calculate
the counterparty exposure measures are
the definitions adopted by the FDIC
Board in the 2014 final rule.
List of Subjects in 12 CFR Part 327
Bank deposit insurance, Banks,
Banking, Savings associations.
For the reasons stated in the
preamble, the FDIC makes the following
correcting amendments to 12 CFR part
327:
PART 327—ASSESSMENTS
1. The authority citation for part 327
continues to read as follows:
■
Authority: 12 U.S.C. 1813, 1815, 1817–19,
1821.
2. In § 327.16, revise paragraph
(a)(1)(ii)(B) to read as follows:
■
§ 327.16 Assessment pricing methods—
beginning the first assessment period after
June 30, 2016, where the reserve ratio of the
DIF as of the end of the prior assessment
period has reached or exceeded 1.15
percent.
(a) * * *
(1) * * *
(ii) * * *
(B) Definition of loan mix index. The
Loan Mix Index assigns loans in an
institution’s loan portfolio to the
categories of loans described in the
following table. The Loan Mix Index is
calculated by multiplying the ratio of an
institution’s amount of loans in a
particular loan category to its total
assets by the associated weighted
average charge-off rate for that loan
category, and summing the products for
all loan categories. The table gives the
weighted average charge-off rate for
each category of loan. The Loan Mix
Index excludes credit card loans.
LOAN MIX INDEX CATEGORIES AND
WEIGHTED CHARGE-OFF RATE PERCENTAGES
Weighted
charge-off
rate
(percent)
Construction & Development
Commercial & Industrial .......
Leases ..................................
Other Consumer ...................
Real Estate Loans Residual
Multifamily Residential ..........
Nonfarm Nonresidential ........
1–4 Family Residential .........
Loans to Depository Banks ..
Agricultural Real Estate ........
Agriculture .............................
4.4965840
1.5984506
1.4974551
1.4559717
1.0169338
0.8847597
0.7286274
0.6973778
0.5760532
0.2376712
0.2432737
3. In appendix A to subpart A of part
327, revise footnote 2 of the table under
the section ‘‘VI. Description of
Scorecard Measures,’’ to read as follows:
■
Appendix A to Subpart A of Part 327—
Method To Derive Pricing Multipliers
and Uniform Amount
*
*
*
*
*
VI. Description of Scorecard Measures
*
*
*
*
*
* * *
2 SFTs include repurchase agreements,
reverse repurchase agreements, security
lending and borrowing, and margin lending
transactions, where the value, of the
transactions depends on market valuations
and the transactions are often subject to
margin agreements. The default fund
contribution is the funds contributed or
commitments made by a clearing member to
a central counterparty’s mutualized loss
sharing arrangement. The other terms used in
this description are as defined in 12 CFR part
324, subparts A and D, unless defined
otherwise in 12 CFR part 327.
1
*
*
*
*
*
4. In part I of appendix E to subpart
A of part 327, revise the table titled
‘‘Loan Mix Index Categories and
Weighted Charge-Off Rate Percentages’’
to read as follows:
■
Appendix E to Subpart A of Part 327—
Mitigating the Deposit Insurance
Assessment Effect of Participation in
the Money Market Mutual Fund
Liquidity Facility, the Paycheck
Protection Program Liquidity Facility,
and the Paycheck Protection Program
*
*
*
*
*
LOAN MIX INDEX CATEGORIES AND
WEIGHTED CHARGE-OFF RATE PERCENTAGES
Weighted
charge-off
rate percent
Construction & Development
Commercial & Industrial .......
Leases ..................................
Other Consumer ...................
Real Estate Loans Residual
Multifamily Residential ..........
Nonfarm Nonresidential ........
1–4 Family Residential .........
Loans to Depository banks ...
Agricultural Real Estate ........
Agriculture .............................
*
*
*
*
4.4965840
1.5984506
1.4974551
1.4559717
1.0169338
0.8847597
0.7286274
0.6973778
0.5760532
0.2376712
0.2432737
*
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on October 19,
2020.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2020–23492 Filed 11–6–20; 8:45 am]
4 79
*
FR 70427 (Nov. 26, 2014).
VerDate Sep<11>2014
15:57 Nov 06, 2020
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Frm 00006
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Fmt 4700
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Sfmt 4700
BILLING CODE 6714–01–P
E:\FR\FM\09NOR1.SGM
09NOR1
]]>Agencies
[Federal Register Volume 85, Number 217 (Monday, November 9, 2020)]
[Rules and Regulations]
[Pages 71227-71228]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-23492]
=======================================================================
-----------------------------------------------------------------------
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Part 327
RIN 3064-AF64
Assessments; Corrections
AGENCY: Federal Deposit Insurance Corporation.
ACTION: Correcting amendments.
-----------------------------------------------------------------------
SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is making
technical amendments to its rules governing deposit insurance
assessments in two places to conform regulatory text to the text that
was adopted by the FDIC Board of Directors (FDIC Board). Due to
publishing errors, incorrect text was printed in the Federal Register
and the Code of Federal Regulations. The first amendment will conform
the value of the weighted charge-off rate for loans secured by nonfarm
nonresidential properties that appears in the FDIC's assessment
regulations to the charge-off rate adopted by the FDIC Board. The
second amendment will conform a footnote that defines two terms in the
descriptions of the counterparty measures for purposes of deposit
insurance assessments to the language adopted by the FDIC Board. The
technical amendments will not affect assessments previously paid by
insured depository institutions (IDIs) or assessments paid by IDIs in
the future.
DATES: Effective November 9, 2020.
FOR FURTHER INFORMATION CONTACT: Daniel Hoople, Senior Financial
Economist, Banking and Regulatory Policy Section, Division of Insurance
and Research, (202) 898-3835, [email protected]; Nefretete Smith,
Counsel, Legal Division, (202) 898-6851, [email protected].
SUPPLEMENTARY INFORMATION:
I. Technical Amendment Regarding the Loan Mix Index
The FDIC assesses all IDIs \1\ an amount for deposit insurance
equal to the institution's deposit insurance assessment base multiplied
by its risk-based assessment rate.\2\ On May 20, 2016, the FDIC
published a final rule (2016 final rule) that refined the deposit
insurance assessment system for established small IDIs.\3\ Under the
2016 final rule, one of the measures used to calculate the assessment
rate of an established small IDI is the loan mix index, a measure of
the extent to which an IDI's total assets include higher-risk
categories of loans.
---------------------------------------------------------------------------
\1\ As used in this notice, the term ``insured depository
institution'' has the same meaning as the definition used in Section
3 of the Federal Deposit Insurance Act (FDI Act), 12 U.S.C.
1813(c)(2).
\2\ See generally 12 CFR 327.3(b)(1).
\3\ 81 FR 32179 (May 20, 2016).
---------------------------------------------------------------------------
This technical amendment corrects the historical weighted charge-
off rate for loans secured by nonfarm nonresidential properties, one of
the categories of loans used in the loan mix index, that is currently
published in the Code of Federal Regulations. Due to an inadvertent
publishing error, the rate
[[Page 71228]]
that appeared in the Federal Register notice for the final rule on May
20, 2016 (81 FR 32179), 0.7289274, differs from the historical weighted
average industrywide charge-off rate that the FDIC Board adopted on
April 26, 2016, and that the FDIC uses to calculate an IDI's loan mix
index, 0.7286274, by three ten-thousandths of a percentage point. The
technical amendment will not affect assessments previously paid by
IDIs, or assessments paid by IDIs in the future, because the value for
loans secured by nonfarm nonresidential properties that the FDIC uses
to calculate the loan mix index is the value adopted by the FDIC Board
in the 2016 final rule.
II. Technical Amendment Regarding Description of Scorecard Measures for
Highly Complex Institutions
In 2014, the FDIC published a final rule (2014 final rule) that,
among other things, requires highly complex institutions--generally,
those with at least $50 billion in total assets (or owned by a parent
holding company with at least $500 billion in assets) or those defined
as processing banks or trust companies--to measure counterparty
exposure for deposit insurance assessment purposes using the Basel III
standardized approach.\4\ Counterparty exposure is captured in two
measures--the ratio of top 20 counterparty exposures to Tier 1 capital
and reserves and the ratio of the largest counterparty exposure to Tier
1 capital and reserves (collectively, the counterparty exposure
measures)--which are used to determine a highly complex institution's
assessment rate.
---------------------------------------------------------------------------
\4\ 79 FR 70427 (Nov. 26, 2014).
---------------------------------------------------------------------------
The 2014 final rule, among other things, revised footnote 2 in
section VI., Description of Scorecard Measures, in appendix A to
subpart A of the assessment regulations to define two terms--``secured
financing transactions'' (SFTs) and ``default fund contribution''--used
in the descriptions of the counterparty exposure measures. Due to an
inadvertent publishing error, the revisions to the second footnote that
were adopted by the FDIC Board on November 18, 2014, and published in
the Federal Register on November 26, 2014, do not appear in the current
version of the Code of Federal Regulations.
This technical amendment replaces the footnote that appears in the
Code of Federal Regulations with the version adopted by the FDIC Board
in the 2014 final rule. The technical amendment will not affect
assessments previously paid by IDIs, or assessments paid by IDIs in the
future, because the definitions the FDIC uses to calculate the
counterparty exposure measures are the definitions adopted by the FDIC
Board in the 2014 final rule.
List of Subjects in 12 CFR Part 327
Bank deposit insurance, Banks, Banking, Savings associations.
For the reasons stated in the preamble, the FDIC makes the
following correcting amendments to 12 CFR part 327:
PART 327--ASSESSMENTS
0
1. The authority citation for part 327 continues to read as follows:
Authority: 12 U.S.C. 1813, 1815, 1817-19, 1821.
0
2. In Sec. 327.16, revise paragraph (a)(1)(ii)(B) to read as follows:
Sec. 327.16 Assessment pricing methods--beginning the first
assessment period after June 30, 2016, where the reserve ratio of the
DIF as of the end of the prior assessment period has reached or
exceeded 1.15 percent.
(a) * * *
(1) * * *
(ii) * * *
(B) Definition of loan mix index. The Loan Mix Index assigns loans
in an institution's loan portfolio to the categories of loans described
in the following table. The Loan Mix Index is calculated by multiplying
the ratio of an institution's amount of loans in a particular loan
category to its total assets by the associated weighted average charge-
off rate for that loan category, and summing the products for all loan
categories. The table gives the weighted average charge-off rate for
each category of loan. The Loan Mix Index excludes credit card loans.
Loan Mix Index Categories and Weighted Charge-Off Rate Percentages
------------------------------------------------------------------------
Weighted
charge-off
rate (percent)
------------------------------------------------------------------------
Construction & Development.............................. 4.4965840
Commercial & Industrial................................. 1.5984506
Leases.................................................. 1.4974551
Other Consumer.......................................... 1.4559717
Real Estate Loans Residual.............................. 1.0169338
Multifamily Residential................................. 0.8847597
Nonfarm Nonresidential.................................. 0.7286274
1-4 Family Residential.................................. 0.6973778
Loans to Depository Banks............................... 0.5760532
Agricultural Real Estate................................ 0.2376712
Agriculture............................................. 0.2432737
------------------------------------------------------------------------
* * * * *
0
3. In appendix A to subpart A of part 327, revise footnote 2 of the
table under the section ``VI. Description of Scorecard Measures,'' to
read as follows:
Appendix A to Subpart A of Part 327--Method To Derive Pricing
Multipliers and Uniform Amount
* * * * *
VI. Description of Scorecard Measures
* * * * *
\1\ * * *
\2\ SFTs include repurchase agreements, reverse repurchase
agreements, security lending and borrowing, and margin lending
transactions, where the value, of the transactions depends on market
valuations and the transactions are often subject to margin
agreements. The default fund contribution is the funds contributed
or commitments made by a clearing member to a central counterparty's
mutualized loss sharing arrangement. The other terms used in this
description are as defined in 12 CFR part 324, subparts A and D,
unless defined otherwise in 12 CFR part 327.
* * * * *
0
4. In part I of appendix E to subpart A of part 327, revise the table
titled ``Loan Mix Index Categories and Weighted Charge-Off Rate
Percentages'' to read as follows:
Appendix E to Subpart A of Part 327--Mitigating the Deposit Insurance
Assessment Effect of Participation in the Money Market Mutual Fund
Liquidity Facility, the Paycheck Protection Program Liquidity Facility,
and the Paycheck Protection Program
* * * * *
Loan Mix Index Categories and Weighted Charge-Off Rate Percentages
------------------------------------------------------------------------
Weighted
charge-off
rate percent
------------------------------------------------------------------------
Construction & Development.............................. 4.4965840
Commercial & Industrial................................. 1.5984506
Leases.................................................. 1.4974551
Other Consumer.......................................... 1.4559717
Real Estate Loans Residual.............................. 1.0169338
Multifamily Residential................................. 0.8847597
Nonfarm Nonresidential.................................. 0.7286274
1-4 Family Residential.................................. 0.6973778
Loans to Depository banks............................... 0.5760532
Agricultural Real Estate................................ 0.2376712
Agriculture............................................. 0.2432737
------------------------------------------------------------------------
* * * * *
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on October 19, 2020.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2020-23492 Filed 11-6-20; 8:45 am]
BILLING CODE 6714-01-P
