Prompt Payment Interest Rate; Contract Disputes Act, 7457-7458 [2021-01681]

Download as PDF Federal Register / Vol. 86, No. 17 / Thursday, January 28, 2021 / Notices 20219. In addition, copies of the templates referenced in this notice can be found on the OCC’s website under News and Issuances (http:// www.occ.treas.gov/tools-forms/forms/ bank-operations/stress-testreporting.html). SUPPLEMENTARY INFORMATION: The OCC is requesting comment on the following revision to an approved information collection: Title: Company-Run Annual Stress Test Reporting Template and Documentation for Covered Institutions with Total Consolidated Assets of $250 Billion or More under the Dodd-Frank Wall Street Reform and Consumer Protection Act. OMB Control No.: 1557–0319. Description: Section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act 2 (Dodd-Frank Act) requires certain financial companies, including national banks and federal savings associations, to conduct annual stress tests 3 and requires the primary financial regulatory agency 4 of those financial companies to issue regulations implementing the stress test requirements.5 Under section 165(i)(2), a covered institution is required to submit to the Board of Governors of the Federal Reserve System (Board) and to its primary financial regulatory agency a report at such time, in such form, and containing such information as the primary financial regulatory agency may require.6 On October 9, 2012, the OCC published in the Federal Register a final rule implementing the section 165(i)(2) annual stress test requirement.7 This rule describes the reports and information collections required to meet the reporting requirements under section 165(i)(2). These information collections will be given confidential treatment (5 U.S.C. 552(b)(4)) to the extent permitted by law. In 2012, the OCC first implemented the reporting templates referenced in the final rule. See 77 FR 49485 (August 16, 2012) and 77 FR 66663 (November 6, 2012). The OCC uses the data collected to assess the reasonableness of the stress test results of covered institutions and to provide forwardlooking information to the OCC regarding a covered institution’s capital adequacy. The OCC also may use the 2 Public Law 111–203, 124 Stat. 1376, July 2010. 3 12 U.S.C. 5365(i)(2)(A). 4 12 U.S.C. 5301(12). 5 12 U.S.C. 5365(i)(2)(C). 6 12 U.S.C. 5365(i)(2)(B). 7 77 FR 61238 (October 9, 2012) (codified at 12 CFR part 46). VerDate Sep<11>2014 17:16 Jan 27, 2021 Jkt 253001 results of the stress tests to determine whether additional analytical techniques and exercises could be appropriate to identify, measure, and monitor risks at the covered institution. The stress test results are expected to support ongoing improvement in a covered institution’s stress testing practices with respect to its internal assessments of capital adequacy and overall capital planning. The OCC recognizes that many covered institutions with total consolidated assets of $250 billion or more are required to submit reports using Comprehensive Capital Analysis and Review (CCAR) reporting form FR Y–14A.8 The OCC also recognizes the Board has proposed and implemented modifications to the FR Y–14A and, to the extent practical, the OCC will keep its reporting requirements consistent with the Board’s FR Y–14A in order to minimize burden on covered institutions.9 Therefore, the OCC is proposing to revise its reporting requirements to mirror the Board’s FR Y–14A for covered institutions with total consolidated assets of $250 billion or more. The OCC’s proposed changes include updates to various schedules to reflect the adoption of the tailoring framework used to determine the applicability of regulatory capital requirements to large U.S. banking organizations.10 Other changes include removing the worksheet for reporting advanced approaches risk-weighted assets and the worksheet for reporting pre-provision net revenue (PPNR) metrics. as well as technical changes to various individual data items. The proposed changes to the OCC’s reporting templates do not include data items in the FR Y–14A associated with several capital buffers related ratios, such as the Board’s stress capital buffer requirement adopted in 2020.11 The proposal would remove the OCC Supplemental Schedule, which collects information not collected by the FR Y–14A. Type of Review: Revision. Affected Public: Businesses or other for-profit. Estimated Number of Respondents: 8. Estimated Total Annual Burden: 4,212 hours. The OCC believes that the systems covered institutions use to prepare the FR Y–14 reporting templates to submit to the Board will also be used to prepare the reporting templates described in this 8 http://www.federalreserve.gov/reportforms. 9 85 FR 56607 (Sept. 14, 2020); 85 FR 63222 (Oct. 7, 2020). 10 84 FR 59232 (Nov. 1, 2019). 11 85 FR 15576 (March 18, 2020). PO 00000 Frm 00105 Fmt 4703 Sfmt 4703 7457 notice. Comments submitted in response to this notice will be summarized and included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the OCC, including whether the information has practical utility; (b) The accuracy of the OCC’s estimate of the burden of the collection of information; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of the collection 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. Bao Nguyen, Principal Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2021–01883 Filed 1–27–21; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Fiscal Service Bureau of the Fiscal Service Prompt Payment Interest Rate; Contract Disputes Act Fiscal Service, Bureau of the Fiscal Service, Treasury. ACTION: Notice of Prompt Payment Interest Rate; Contract Disputes Act. AGENCY: For the period beginning January 1, 2021, and ending on June 30, 2021, the prompt payment interest rate is 7⁄8 per centum per annum. DATES: Applicable January 1, 2021, to June 30, 2021. ADDRESSES: Comments or inquiries may be mailed to: E-Commerce Division, Bureau of the Fiscal Service, 401 14th Street SW, Room 306F, Washington, DC 20227. Comments or inquiries may also be emailed to PromptPayment@ fiscal.treasury.gov. SUMMARY: FOR FURTHER INFORMATION CONTACT: Thomas M. Burnum, E-Commerce Division, (202) 874–6430; or Thomas Kearns, Senior Counsel, Office of the Chief Counsel, (202) 874–7036. SUPPLEMENTARY INFORMATION: An agency that has acquired property or service from a business concern and has failed E:\FR\FM\28JAN1.SGM 28JAN1 7458 Federal Register / Vol. 86, No. 17 / Thursday, January 28, 2021 / Notices to pay for the complete delivery of property or service by the required payment date shall pay the business concern an interest penalty. 31 U.S.C. 3902(a). The Contract Disputes Act of 1978, Sec. 12, Public Law 95–563, 92 Stat. 2389, and the Prompt Payment Act, 31 U.S.C. 3902(a), provide for the calculation of interest due on claims at the rate established by the Secretary of the Treasury. The Secretary of the Treasury has the authority to specify the rate by which the interest shall be computed for interest payments under section 12 of the Contract Disputes Act of 1978 and under the Prompt Payment Act. Under the Prompt Payment Act, if an interest penalty is owed to a business concern, the penalty shall be paid regardless of whether the business concern requested payment of such penalty. 31 U.S.C. 3902(c)(1). Agencies must pay the interest penalty calculated with the interest rate, which is in effect at the time the agency accrues the obligation to pay a late payment interest penalty. 31 U.S.C. 3902(a). ‘‘The interest penalty shall be paid for the period beginning on the day after the required payment date and ending on the date on which payment is made.’’ 31 U.S.C. 3902(b). Therefore, notice is given that the Secretary of the Treasury has determined that the rate of interest applicable for the period beginning January 1, 2021, and ending on June 30, 2021, is 7⁄8 per centum per annum. Timothy E. Gribben, Commissioner, Bureau of the Fiscal Service. [FR Doc. 2021–01681 Filed 1–27–21; 8:45 am] BILLING CODE 4810–AS–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Notice of OFAC Sanctions Action Office of Foreign Assets Control, Treasury. ACTION: Notice. AGENCY: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the names of one or more individuals, entities, and vessels that have been placed on OFAC’s Specially Designated Nationals and Blocked Persons List based on OFAC’s determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. SUMMARY: VerDate Sep<11>2014 17:16 Jan 27, 2021 Jkt 253001 See SUPPLEMENTARY INFORMATION section for effective date(s). FOR FURTHER INFORMATION CONTACT: OFAC: Andrea Gacki, Director, tel.: 202–622–2490; Associate Director for Global Targeting, tel.: 202–622–2420; Assistant Director for Sanctions Compliance & Evaluation, tel.: 202–622– 2490; Assistant Director for Licensing, tel.: 202–622–2480; or Assistant Director for Regulatory Affairs, tel.: 202–622– 4855. DATES: SUPPLEMENTARY INFORMATION: Electronic Availability The Specially Designated Nationals and Blocked Persons List and additional information concerning OFAC sanctions programs are available on OFAC’s website (https://www.treasury.gov/ofac). Notice of OFAC Action(s) On January 15, 2021, OFAC determined that the property and interests in property subject to U.S. jurisdiction of the following individuals and entities are blocked pursuant to the relevant sanctions authorities below. Individuals 1. APIKIAN, Philipp Paul Vartan; DOB 15 Jan 1969; POB Geneva, Switzerland; citizen Switzerland; Gender Male; Passport X0062329 (Switzerland) issued 27 Feb 2012 expires 26 Feb 2022 (individual) [VENEZUELA–EO13850]. Designated pursuant to section 1(a)(iv) of Executive Order 13850 of November 1, 2018, ‘‘Blocking Property of Additional Persons Contributing to the Situation in Venezuela,’’ 83 FR 55243, 3 CFR, 2019 Comp., p. 881 (E.O. 13850), as amended by Executive Order 13857 of January 25, 2019, ‘‘Taking Additional Steps To Address the National Emergency With Respect to Venezuela,’’ 84 FR 509 (E.O. 13857), for having acted or purported to act for or on behalf of, directly or indirectly, SWISSOIL TRADING SA, a person whose property and interests in property are blocked pursuant to E.O. 13850. 2. BAZZONI, Alessandro, Via Cantonale 8, Lugano 6900, Switzerland; DOB 09 Jul 1971; POB Milan, Italy; citizen Italy; Gender Male; Passport YA9636063 (Italy) issued 12 Jul 2016 expires 11 Jul 2026 (individual) [VENEZUELA–EO13850]. Designated pursuant to section 1(a)(i) and 1(a)(iii) of E.O. 13850, as amended by E.O. 13857, for operating in the oil sector of the Venezuelan economy and materially assisting, sponsoring, or providing financial, material, or technological support for, or goods or services to or in support of PdVSA, a person whose property and interests in property are blocked pursuant to E.O. 13850. 3. D’AGOSTINO CASADO, Francisco Javier, Calle El Parque. Res. Campo Alegre Plaza, Piso 5. Urb. Campo Alegre, Caracas, Miranda 1060, Venezuela; DOB 02 Jun 1974; POB Caracas, Venezuela; nationality Spain; citizen Spain; alt. citizen Venezuela; Gender Male; Cedula No. V–11307398 (Venezuela); PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 Passport XDC221294 (Spain) issued 18 Sep 2015 expires 11 Jul 2018; National ID No. R.E. 201000798316 (Spain) (individual) [VENEZUELA–EO13850]. Designated pursuant to section 1(a)(i) and 1(a)(iii) of E.O. 13850, as amended by E.O. 13857, for operating in the oil sector of the Venezuelan economy and materially assisting, sponsoring, or providing financial, material, or technological support for, or goods or services to or in support of PdVSA, a person whose property and interests in property are blocked pursuant to E.O. 13850. Entities 1. 82 ELM REALTY LLC, 450 Park Avenue, Ste 1403, New York, NY 10022, United States; Company Number 3848561 (New York) (United States) [VENEZUELA– EO13850]. Designated pursuant to section 1(a)(iv) of E.O. 13850, as amended by E.O. 13857, for being owned or controlled by D’AGOSTINO CASADO, Francisco Javier, a person whose property and interests in property are blocked pursuant to E.O. 13850. 2. AMG S.A.S. DI ALESSANDRO BAZZONI & C. (a.k.a. AMG S.A.S. DI ALESSANDRO BAZZONI AND C.; a.k.a. AMG S.A.S. DI ALESSANDRO BAZZONI E C.), Via Sottomonte 5, Verona 37124, Italy; V.A.T. Number IT02483560237 (Italy) [VENEZUELA–EO13850]. Designated pursuant to section 1(a)(iv) of E.O. 13850, as amended by E.O. 13857, for being owned or controlled by BAZZONI, Alessandro, a person whose property and interests in property are blocked pursuant to E.O. 13850. 3. CATALINA HOLDINGS CORP., New York, NY 10107–1706, United States; Company Number 3934472 (New York) (United States) [VENEZUELA–EO13850]. Designated pursuant to section 1(a)(iv) of E.O. 13850, as amended by E.O. 13857, for being owned or controlled by D’AGOSTINO CASADO, Francisco Javier, a person whose property and interests in property are blocked pursuant to E.O. 13850. 4. D’AGOSTINO & COMPANY, LTD (a.k.a. D’AGOSTINO AND COMPANY, LTD), Torre Dayco, Piso PH, Caracas, Venezuela; Organization Type: Other financial service activities, except insurance and pension funding activities, n.e.c. [VENEZUELA– EO13850]. Designated pursuant to section 1(a)(iv) of E.O. 13850, as amended by E.O. 13857, for being owned or controlled by D’AGOSTINO CASADO, Francisco Javier, a person whose property and interests in property are blocked pursuant to E.O. 13850. 5. ELEMENT CAPITAL ADVISORS LTD, Avenida Federico Boyd con Calle 49, Edificio Alfaro Piso 4 Oficina 4–A, Apartado 0832– 00998, Panama City, Panama; Virgin Islands, British; website www.element-capital.com; Nationality of Registration Virgin Islands, British; Organization Type: Other financial service activities, except insurance and pension funding activities, n.e.c.; Company Number 1476279 (Virgin Islands, British) [VENEZUELA–EO13850]. Designated pursuant to section 1(a)(iv) of E.O. 13850, as amended by E.O. 13857, for being owned or controlled by D’AGOSTINO E:\FR\FM\28JAN1.SGM 28JAN1

Agencies

[Federal Register Volume 86, Number 17 (Thursday, January 28, 2021)]
[Notices]
[Pages 7457-7458]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-01681]


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DEPARTMENT OF THE TREASURY

Fiscal Service

Bureau of the Fiscal Service


Prompt Payment Interest Rate; Contract Disputes Act

AGENCY: Fiscal Service, Bureau of the Fiscal Service, Treasury.

ACTION: Notice of Prompt Payment Interest Rate; Contract Disputes Act.

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SUMMARY: For the period beginning January 1, 2021, and ending on June 
30, 2021, the prompt payment interest rate is \7/8\ per centum per 
annum.

DATES: Applicable January 1, 2021, to June 30, 2021.

ADDRESSES: Comments or inquiries may be mailed to: E-Commerce Division, 
Bureau of the Fiscal Service, 401 14th Street SW, Room 306F, 
Washington, DC 20227. Comments or inquiries may also be emailed to 
[email protected].

FOR FURTHER INFORMATION CONTACT: Thomas M. Burnum, E-Commerce Division, 
(202) 874-6430; or Thomas Kearns, Senior Counsel, Office of the Chief 
Counsel, (202) 874-7036.

SUPPLEMENTARY INFORMATION: An agency that has acquired property or 
service from a business concern and has failed

[[Page 7458]]

to pay for the complete delivery of property or service by the required 
payment date shall pay the business concern an interest penalty. 31 
U.S.C. 3902(a). The Contract Disputes Act of 1978, Sec. 12, Public Law 
95-563, 92 Stat. 2389, and the Prompt Payment Act, 31 U.S.C. 3902(a), 
provide for the calculation of interest due on claims at the rate 
established by the Secretary of the Treasury.
    The Secretary of the Treasury has the authority to specify the rate 
by which the interest shall be computed for interest payments under 
section 12 of the Contract Disputes Act of 1978 and under the Prompt 
Payment Act. Under the Prompt Payment Act, if an interest penalty is 
owed to a business concern, the penalty shall be paid regardless of 
whether the business concern requested payment of such penalty. 31 
U.S.C. 3902(c)(1). Agencies must pay the interest penalty calculated 
with the interest rate, which is in effect at the time the agency 
accrues the obligation to pay a late payment interest penalty. 31 
U.S.C. 3902(a). ``The interest penalty shall be paid for the period 
beginning on the day after the required payment date and ending on the 
date on which payment is made.'' 31 U.S.C. 3902(b).
    Therefore, notice is given that the Secretary of the Treasury has 
determined that the rate of interest applicable for the period 
beginning January 1, 2021, and ending on June 30, 2021, is \7/8\ per 
centum per annum.

Timothy E. Gribben,
Commissioner, Bureau of the Fiscal Service.
[FR Doc. 2021-01681 Filed 1-27-21; 8:45 am]
BILLING CODE 4810-AS-P