VA High Risk List Action Plan, Managing Risks, and Improving VA Health Care, 82583 [2020-27939]

Download as PDF Federal Register / Vol. 85, No. 244 / Friday, December 18, 2020 / Notices complex institutions are no longer using a CECL transition. Specifically, the agencies propose to add a new Memorandum item 5 to Schedule RC–O, Other Data for Deposit Insurance Assessments, in the FFIEC 031 and the FFIEC 041 Call Reports, only in order to quantify the applicable portions of the CECL transitional amounts added to retained earnings for regulatory capital purposes and attributable to the allowance for credit losses on loans and leases held for investment. The removal of this portion of the CECL transitional amounts is needed because, for large and highly complex institutions that have adopted CECL, the measure of reserves used in the scorecard is limited to the allowance for credit losses on loans and leases. To adjust the calculations of certain financial measures used to determine deposit insurance assessment rates for large and highly complex institutions, the FDIC would remove the amount reported in the new Schedule RC–O Memorandum item from scorecard measures that are calculated using the sum of Tier 1 capital and reserves and also from the loss severity measure in the scorecards. C. Timing Beginning with the June 30, 2021, Call Report, Schedule RC–O, Memorandum item 5, ‘‘Applicable portion of the CECL transitional amount or modified CECL transitional amount that has been added to retained earnings for regulatory capital purposes as of the report date and is attributable to loans and leases held for investment,’’ would be completed only by large and highly complex institutions that have adopted ASU 2016–13 and reported having a CECL transition election in effect as of the quarter-end report date. The specific wording of the caption for the proposed new Schedule RC–O Memorandum item discussed in this proposal and the numbering of this Memorandum item should be regarded as preliminary. khammond on DSKJM1Z7X2PROD with NOTICES III. Request for Comment Public comment is requested on all aspects of this joint notice. Comment is specifically invited on: (a) Whether the proposed revisions to the collections of information that are VerDate Sep<11>2014 22:22 Dec 17, 2020 Jkt 253001 the subject of this notice are necessary for the proper performance of the agencies’ functions, including whether the information has practical utility; (b) The accuracy of the agencies’ estimates of the burden of the information collections as they are proposed to be revised, including the validity of the methodology and assumptions used; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of information collections on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Comments submitted in response to this joint notice will be shared among the agencies. 82583 addressing the five broad management issues described by the GAO in its 2015 High Risk Series Update, which include: policy and processes, oversight and accountability, information technology (IT), adequate training, and resource allocation. FOR FURTHER INFORMATION CONTACT: Karen Rasmussen, M.D., Director for GAO–OIG Accountability Liaison at (202) 461–6643 or VHA10BGOALGAOHRL@va.gov. Bao Nguyen, Principal Deputy Chief Counsel,Office of the Comptroller of the Currency.Board of Governors of the Federal Reserve System. Michele Taylor Fennell, Deputy Associate Secretary of the Board. Dated at Washington, DC, on or about December 14, 2020. Federal Deposit Insurance Corporation. James P. Sheesley, Assistant Executive Secretary. VA’s commitment to addressing the management functions GAO highlighted in its report will ensure large initiatives are reinforced by sound policy; are implemented by staff with the right knowledge, skills, and abilities; receive the right IT support; identify and secure essential human and financial resources; have management oversight; and are accountable throughout planning, implementation, and reinforcement. To that end, VA’s 2020 plan includes over 250 actions underway and other measures to monitor progress toward achieving the outcomes described in Chapter 2. The plan also identifies key transformational initiatives from the Veterans Health Administration’s Plan for Modernization that complement or contribute to resolution of the areas of concern (Chapter 1). [FR Doc. 2020–27847 Filed 12–17–20; 8:45 am] Signing Authority BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P DEPARTMENT OF VETERANS AFFAIRS VA High Risk List Action Plan, Managing Risks, and Improving VA Health Care Department of Veterans Affairs. Notice. AGENCY: ACTION: Notice is given that the Department of Veteran Affairs (VA) High Risk List Action Plan—Managing Risks and Improving VA Health Care report to the U.S. Government Accountability Office (GAO) is available for public review at https://www.va.gov/ performance/. The March 2020 document is VA’s action plan for SUMMARY: PO 00000 Frm 00158 Fmt 4703 Sfmt 9990 SUPPLEMENTARY INFORMATION: The Secretary of Veterans Affairs, or designee, approved this document and authorized the undersigned to sign and submit the document to the Office of the Federal Register for publication electronically as an official document of the Department of Veterans Affairs. Brooks D. Tucker, Assistant Secretary for Congressional and Legislative Affairs, Performing the Delegable Duties of the Chief of Staff, Department of Veterans Affairs, approved this document on December 14, 2020, for publication. Jeffrey M. Martin, Assistant Director, Office of Regulation Policy & Management, Office of the Secretary, Department of Veterans Affairs. [FR Doc. 2020–27939 Filed 12–17–20; 8:45 am] BILLING CODE 8320–01–P E:\FR\FM\18DEN1.SGM 18DEN1

Agencies

[Federal Register Volume 85, Number 244 (Friday, December 18, 2020)]
[Notices]
[Page 82583]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-27939]


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DEPARTMENT OF VETERANS AFFAIRS


VA High Risk List Action Plan, Managing Risks, and Improving VA 
Health Care

AGENCY: Department of Veterans Affairs.

ACTION: Notice.

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

SUMMARY: Notice is given that the Department of Veteran Affairs (VA) 
High Risk List Action Plan--Managing Risks and Improving VA Health Care 
report to the U.S. Government Accountability Office (GAO) is available 
for public review at https://www.va.gov/performance/. The March 2020 
document is VA's action plan for addressing the five broad management 
issues described by the GAO in its 2015 High Risk Series Update, which 
include: policy and processes, oversight and accountability, 
information technology (IT), adequate training, and resource 
allocation.

FOR FURTHER INFORMATION CONTACT: Karen Rasmussen, M.D., Director for 
GAO-OIG Accountability Liaison at (202) 461-6643 or 
[email protected].

SUPPLEMENTARY INFORMATION: VA's commitment to addressing the management 
functions GAO highlighted in its report will ensure large initiatives 
are reinforced by sound policy; are implemented by staff with the right 
knowledge, skills, and abilities; receive the right IT support; 
identify and secure essential human and financial resources; have 
management oversight; and are accountable throughout planning, 
implementation, and reinforcement. To that end, VA's 2020 plan includes 
over 250 actions underway and other measures to monitor progress toward 
achieving the outcomes described in Chapter 2. The plan also identifies 
key transformational initiatives from the Veterans Health 
Administration's Plan for Modernization that complement or contribute 
to resolution of the areas of concern (Chapter 1).

Signing Authority

    The Secretary of Veterans Affairs, or designee, approved this 
document and authorized the undersigned to sign and submit the document 
to the Office of the Federal Register for publication electronically as 
an official document of the Department of Veterans Affairs. Brooks D. 
Tucker, Assistant Secretary for Congressional and Legislative Affairs, 
Performing the Delegable Duties of the Chief of Staff, Department of 
Veterans Affairs, approved this document on December 14, 2020, for 
publication.

Jeffrey M. Martin,
Assistant Director, Office of Regulation Policy & Management, Office of 
the Secretary, Department of Veterans Affairs.
[FR Doc. 2020-27939 Filed 12-17-20; 8:45 am]
BILLING CODE 8320-01-P
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