FDIC Official Sign and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC's Name or Logo; Extension of Comment Period, 6673-6674 [2023-02114]

Download as PDF Federal Register / Vol. 88, No. 21 / Wednesday, February 1, 2023 / Proposed Rules lotter on DSK11XQN23PROD with PROPOSALS1 for Production and Utilization Facilities,’’ is temporarily identified by its task number, DG–1412 (ADAMS Accession No. ML22160A570). DG–1412 is proposed Revision 1 to RG 1.210, ‘‘Qualification of SafetyRelated Battery Chargers and Inverters for Nuclear Power Plants.’’ The proposed revision endorses Institute of Electrical and Electronics Engineers (IEEE) Standard (Std.) 650–2017, ‘‘IEEE Standard for Qualification of Class 1E Static Battery Chargers, Inverters, and Uninterruptible Power Supply Systems for Nuclear Power Generating Stations.’’ The staff is also issuing for public comment a draft regulatory analysis (ADAMS Accession No. ML22160A589). The NRC staff developed the regulatory analysis to assess the value of issuing or revising a regulatory guide as well as alternative courses of action. As noted in the Federal Register on December 9, 2022 (87 FR 75671), this document is being published in the ‘‘Proposed Rules’’ section of the Federal Register to comply with publication requirements under chapter I of title 10 of the Code of Federal Regulations (CFR). III. Backfitting, Forward Fitting, and Issue Finality The NRC staff may use this regulatory guide as a reference in its regulatory processes, such as licensing, inspection, or enforcement. However, the NRC staff does not intend to use the guidance in this regulatory guide to support NRC staff actions in a manner that would constitute backfitting as that term is defined in Section 50.109 of title 10 of the Code of Federal Regulations (10 CFR), ‘‘Backfitting,’’ and as described in NRC Management Directive (MD) 8.4, ‘‘Management of Backfitting, Forward Fitting, Issue Finality, and Information Requests,’’ nor does the NRC staff intend to use the guidance to affect the issue finality of an approval under 10 CFR part 52, ‘‘Licenses, Certifications, and Approvals for Nuclear Power Plants.’’ The staff also does not intend to use the guidance to support NRC staff actions in a manner that constitutes forward fitting as that term is defined and described in MD 8.4. If a licensee believes that the NRC is using this regulatory guide in a manner inconsistent with the discussion in this Implementation section, then the licensee may file a backfitting or forward fitting appeal with the NRC in accordance with the process in MD 8.4. IV. Submitting Suggestions for Improvement of Regulatory Guides A member of the public may, at any time, submit suggestions to the NRC for VerDate Sep<11>2014 17:09 Jan 31, 2023 Jkt 259001 improvement of existing RGs or for the development of new RGs. Suggestions can be submitted on the NRC’s public website at https://www.nrc.gov/readingrm/doc-collections/reg-guides/ contactus.html. Suggestions will be considered in future updates and enhancements to the ‘‘Regulatory Guide’’ series. Dated: January 26, 2023. For the Nuclear Regulatory Commission. Edward F. O’Donnell, Acting Chief, Regulatory Guide and Programs Management Branch, Division of Engineering, Office of Nuclear Regulatory Research. [FR Doc. 2023–02012 Filed 1–31–23; 8:45 am] BILLING CODE 7590–01–P FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Part 328 RIN 3064–AF26 FDIC Official Sign and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo; Extension of Comment Period Federal Deposit Insurance Corporation (FDIC). ACTION: Notice of proposed rulemaking; extension of comment period. AGENCY: On December 21, 2022, the FDIC published in the Federal Register a Notice of Proposed Rulemaking (NPR) seeking comment on proposed changes to the FDIC’s regulations relating to the FDIC’s official sign, the FDIC’s official advertising statement, and misrepresentations of deposit insurance coverage. The NPR provided for a 60day comment period, which would have closed on February 21, 2023. The FDIC is extending the comment period until April 7, 2023, to allow interested parties additional time to analyze the proposal and prepare comments. DATES: The comment period for the NPR published on December 21, 2022 (87 FR 78017), is extended from February 21, 2023, to April 7, 2023. ADDRESSES: Interested parties are invited to submit written comments, identified by RIN 3064–AF26, by any of the following methods: • Agency Website: https:// www.fdic.gov/resources/regulations/ federal-register-publications/. Follow the instructions for submitting comments on the agency website. • Email: comments@fdic.gov. Include RIN 3064–AF26 in the subject line of the message. SUMMARY: PO 00000 Frm 00002 Fmt 4702 Sfmt 4702 6673 • Mail: James P. Sheesley, Assistant Executive Secretary, Attention: Comments—RIN 3064–AF26, Federal Deposit Insurance Corporation, 550 17th Street NW, Washington, DC 20429. • Hand Delivery/Courier: Comments may be hand delivered to the guard station at the rear of the 550 17th Street NW building (located on F Street NW) on business days between 7 a.m. and 5 p.m. • Public Inspection: Comments received, including any personal information provided, may be posted without change to https://www.fdic.gov/ resources/regulations/federal-registerpublications/. Commenters should submit only information that the commenter wishes to make available publicly. The FDIC may review, redact, or refrain from posting all or any portion of any comment that it may deem to be inappropriate for publication, such as irrelevant or obscene material. The FDIC may post only a single representative example of identical or substantially identical comments, and in such cases will generally identify the number of identical or substantially identical comments represented by the posted example. All comments that have been redacted, as well as those that have not been posted, that contain comments on the merits of the notice will be retained in the public comment file and will be considered as required under all applicable laws. All comments may be accessible under the Freedom of Information Act. FOR FURTHER INFORMATION CONTACT: Division of Depositor and Consumer Protection: Luke H. Brown, Associate Director, 202–898–3842, LuBrown@ FDIC.gov; Meron Wondwosen, Senior Policy Analyst, 202–898–7211, MeWondwosen@FDIC.gov; Edward J. Hof, Senior Policy Analyst, 202–898– 7213, EdwHof@FDIC.gov; Legal Division: James Watts, Counsel, 202– 898–6678, jwatts@FDIC.gov; Vivek Khare, Counsel, 202–898–6847, vkhare@ fdic.gov. SUPPLEMENTARY INFORMATION: On December 21, 2022, the FDIC published in the Federal Register 1 an NPR proposing revisions to the regulations implementing section 18(a) of the Federal Deposit Insurance Act.2 The NPR stated that the comment period would close on February 21, 2023. The FDIC has received requests to extend the comment period. An extension of the comment period will provide additional opportunity for the public to prepare comments to address 1 87 2 12 E:\FR\FM\01FEP1.SGM FR 78017. U.S.C. 1828(a); 12 CFR 328. 01FEP1 6674 Federal Register / Vol. 88, No. 21 / Wednesday, February 1, 2023 / Proposed Rules the matters raised by the NPR. As such, the FDIC is extending the comment period for the NPR from February 21, 2023, to April 7, 2023. Federal Deposit Insurance Corporation. Dated at Washington, DC, on January 27, 2023. James P. Sheesley, Assistant Executive Secretary. [FR Doc. 2023–02114 Filed 1–31–23; 8:45 am] BILLING CODE 6714–01–P DEPARTMENT OF THE TREASURY Bureau of the Fiscal Service 31 CFR Part 240 RIN 1530–AA22 Indorsement and Payment of Checks Drawn on the United States Treasury Bureau of the Fiscal Service, Treasury. ACTION: Notice of proposed rulemaking with request for comment. AGENCY: The Bureau of the Fiscal Service (Fiscal Service) at the Department of the Treasury (Treasury) is proposing to amend its regulations governing the payment of checks drawn on the United States Treasury. Specifically, to prevent Treasury checks from being negotiated after cancellation by Treasury or a payment certifying agency—also known as payments over cancellation (POCs)—Fiscal Service is proposing amendments that would require financial institutions use the Treasury Check Verification System (TCVS), or other similar authorized system, to verify that Treasury checks are both authentic and valid. This proposal also contains conforming amendments, including the addition of a definition of ‘‘cancellation’’ or ‘‘canceled.’’ Finally, the proposal would amend the reasons for which a Federal Reserve Bank must decline payment of a Treasury check to include prior cancellation of the check, so that Fiscal Service may place what is commonly referred to as a ‘‘true stop’’ on a Treasury check and avoid a POC. DATES: Comments on the proposed rule must be received by April 3, 2023. ADDRESSES: Comments on this proposed rule, identified by docket FISCAL– 2021–0001, should only be submitted using the following methods: • Federal eRulemaking Portal: www.regulations.gov. Follow the instructions on the website for submitting comments. • Mail: Department of the Treasury, Bureau of the Fiscal Service, Attn: Gary lotter on DSK11XQN23PROD with PROPOSALS1 SUMMARY: VerDate Sep<11>2014 17:09 Jan 31, 2023 Jkt 259001 Swasey, Director, Post Payment Modernization Division, 13000 Townsend Rd., Philadelphia, PA 19154. The fax and email methods of submitting comments on rules to Fiscal Service have been decommissioned. Instructions: All submissions received must include the agency name (Bureau of the Fiscal Service) and docket number FISCAL–2021–0001 for this rulemaking. In general, comments received will be published on regulations.gov without change, including any business or personal information provided. Comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure. In accordance with the U.S. government’s eRulemaking Initiative, Fiscal Service publishes rulemaking information on www.regulations.gov. Regulations.gov offers the public the ability to comment on, search, and view publicly available rulemaking materials, including comments received on rules. FOR FURTHER INFORMATION CONTACT: Gary Swasey, Director, Post Payment Modernization Division, at (215) 516– 8145 or gary.swasey@fiscal.treasury.gov; or Thomas Kearns, Senior Counsel, at (202) 874–6680 or thomas.kearns@ fiscal.treasury.gov. SUPPLEMENTARY INFORMATION: I. Background Currently, when either Treasury or a payment certifying agency puts a ‘‘stop payment’’ (or ‘‘check stop’’) on a Treasury check to cancel it, the canceled check may still be negotiated, which leads to a POC. POCs are improper payments that amount to approximately $98 million each year. Resolving POCs also costs the Federal Government approximately $1.3 million each year. Financial institutions often have access to real-time or same-day check verification information to ensure that non-Treasury checks have not been canceled, and soon this will be the case for Treasury checks as well. Fiscal Service’s Treasury Check Verification System (TCVS) provides verification information for Treasury checks, but currently TCVS has a one-day lag. However, Fiscal Service expects to complete enhancements to TCVS that will allow same-day verification by mid2023. TCVS is available at no cost to financial institutions, either for singleitem use via a free online web portal or for bulk verification of Treasury checks PO 00000 Frm 00003 Fmt 4702 Sfmt 4702 via an Application Programming Interface (API). TCVS verifies the authenticity of a Treasury check using the check symbol and serial number (i.e., the 4-digit and 8-digit components, respectively, that together comprise a unique Treasury check number), check date, and payment amount. Use of TCVS is currently optional. At present, Treasury procedures charge back POCs to the certifying agency, so banks have little incentive to use TCVS to avoid POCs. Only approximately 40% of all Treasury checks are run through TCVS before being negotiated. After enhancements to Treasury’s systems have been implemented and same-day Treasury check verification is functional, Fiscal Service proposes requiring that a financial institution use its check verification system when negotiating a Treasury check if the financial institution is to avoid liability for accepting a Treasury check that has been canceled. Financial institutions will be notified via a communication from the Federal Reserve’s Customer Relations Support Office, Federal Register notice, and/or other appropriate means at least 30 days prior to the date that enhanced TCVS will become available for use and this requirement becomes effective. Under existing rules, financial institutions are required to use ‘‘reasonable efforts’’ to ensure that a Treasury check is authentic (i.e., not counterfeit) and also are responsible if they accept a Treasury check that has been previously negotiated, but they are not required to ensure that a Treasury check has not been canceled. The definition of ‘‘reasonable efforts’’ found in 31 CFR 240.2 does not currently include a requirement to use Treasury’s check verification system to ensure that a Treasury check is valid (i.e., a payable instrument that has not been canceled and meets the criteria for negotiability). Fiscal Service proposes revising the definition of ‘‘reasonable efforts’’ to include this verification process. Requiring a financial institution to use TCVS (or a subsequent check verification system built to carry out the same function) has several benefits. It will greatly reduce POCs, as it will allow certifying agencies to place a ‘‘true stop’’ on a Treasury check. It will also help financial institutions reduce instances where a Treasury check (or an item purporting to be a Treasury check) is charged back to the financial institution, by allowing the financial institution to verify that the Treasury check is not counterfeit, that the amount has not been altered, and that the check is not stale-dated (i.e., more than twelve months past the date of issuance and E:\FR\FM\01FEP1.SGM 01FEP1

Agencies

[Federal Register Volume 88, Number 21 (Wednesday, February 1, 2023)]
[Proposed Rules]
[Pages 6673-6674]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-02114]


=======================================================================
-----------------------------------------------------------------------

FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 328

RIN 3064-AF26


FDIC Official Sign and Advertising Requirements, False 
Advertising, Misrepresentation of Insured Status, and Misuse of the 
FDIC's Name or Logo; Extension of Comment Period

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of proposed rulemaking; extension of comment period.

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

SUMMARY: On December 21, 2022, the FDIC published in the Federal 
Register a Notice of Proposed Rulemaking (NPR) seeking comment on 
proposed changes to the FDIC's regulations relating to the FDIC's 
official sign, the FDIC's official advertising statement, and 
misrepresentations of deposit insurance coverage. The NPR provided for 
a 60-day comment period, which would have closed on February 21, 2023. 
The FDIC is extending the comment period until April 7, 2023, to allow 
interested parties additional time to analyze the proposal and prepare 
comments.

DATES: The comment period for the NPR published on December 21, 2022 
(87 FR 78017), is extended from February 21, 2023, to April 7, 2023.

ADDRESSES: Interested parties are invited to submit written comments, 
identified by RIN 3064-AF26, by any of the following methods:
     Agency Website: https://www.fdic.gov/resources/regulations/federal-register-publications/. Follow the instructions for 
submitting comments on the agency website.
     Email: [email protected]. Include RIN 3064-AF26 in the 
subject line of the message.
     Mail: James P. Sheesley, Assistant Executive Secretary, 
Attention: Comments--RIN 3064-AF26, Federal Deposit Insurance 
Corporation, 550 17th Street NW, Washington, DC 20429.
     Hand Delivery/Courier: Comments may be hand delivered to 
the guard station at the rear of the 550 17th Street NW building 
(located on F Street NW) on business days between 7 a.m. and 5 p.m.
     Public Inspection: Comments received, including any 
personal information provided, may be posted without change to https://www.fdic.gov/resources/regulations/federal-register-publications/. 
Commenters should submit only information that the commenter wishes to 
make available publicly. The FDIC may review, redact, or refrain from 
posting all or any portion of any comment that it may deem to be 
inappropriate for publication, such as irrelevant or obscene material. 
The FDIC may post only a single representative example of identical or 
substantially identical comments, and in such cases will generally 
identify the number of identical or substantially identical comments 
represented by the posted example. All comments that have been 
redacted, as well as those that have not been posted, that contain 
comments on the merits of the notice will be retained in the public 
comment file and will be considered as required under all applicable 
laws. All comments may be accessible under the Freedom of Information 
Act.

FOR FURTHER INFORMATION CONTACT: Division of Depositor and Consumer 
Protection: Luke H. Brown, Associate Director, 202-898-3842, 
[email protected]; Meron Wondwosen, Senior Policy Analyst, 202-898-7211, 
[email protected]; Edward J. Hof, Senior Policy Analyst, 202-898-
7213, [email protected]; Legal Division: James Watts, Counsel, 202-898-
6678, [email protected]; Vivek Khare, Counsel, 202-898-6847, 
[email protected].

SUPPLEMENTARY INFORMATION: On December 21, 2022, the FDIC published in 
the Federal Register \1\ an NPR proposing revisions to the regulations 
implementing section 18(a) of the Federal Deposit Insurance Act.\2\
---------------------------------------------------------------------------

    \1\ 87 FR 78017.
    \2\ 12 U.S.C. 1828(a); 12 CFR 328.
---------------------------------------------------------------------------

    The NPR stated that the comment period would close on February 21, 
2023. The FDIC has received requests to extend the comment period. An 
extension of the comment period will provide additional opportunity for 
the public to prepare comments to address

[[Page 6674]]

the matters raised by the NPR. As such, the FDIC is extending the 
---------------------------------------------------------------------------
comment period for the NPR from February 21, 2023, to April 7, 2023.

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on January 27, 2023.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2023-02114 Filed 1-31-23; 8:45 am]
BILLING CODE 6714-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.