Notice of Regulatory Review, 22919-22920 [2023-07928]
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22919
Proposed Rules
Federal Register
Vol. 88, No. 72
Friday, April 14, 2023
This section of the FEDERAL REGISTER
contains notices to the public of the proposed
issuance of rules and regulations. The
purpose of these notices is to give interested
persons an opportunity to participate in the
rule making prior to the adoption of the final
rules.
FEDERAL HOUSING FINANCE
AGENCY
12 CFR Chapter XII
[No. 2023–N–5]
Notice of Regulatory Review
Federal Housing Finance
Agency.
ACTION: Regulatory review; request for
comment.
AGENCY:
The Federal Housing Finance
Agency (FHFA) is issuing a notice of a
regulatory review to be conducted in
accordance with the process set forth in
its Regulatory Review Plan published in
February 2012, and is requesting
comments on how its regulations may
be made more effective and less
burdensome.
SUMMARY:
Comments on this notice of
regulatory review must be received no
later than June 13, 2023.
ADDRESSES: You may submit your
comments, identified by ‘‘Regulatory
Review [No. 2023–N–5]’’, by any of the
following methods:
• Agency website: www.fhfa.gov/
open-for-comment-or-input.
• Federal eRulemaking Portal:
https://www.regulations.gov. Follow the
instructions for submitting comments. If
you submit your comment to the
Federal eRulemaking Portal, please also
send it by email to FHFA at
RegComments@fhfa.gov to ensure
timely receipt by FHFA. Please include
‘‘Regulatory Review [No. 2023–N–5]’’ in
the subject line of the message.
• Hand Delivered/Courier: The hand
delivery address is: Clinton Jones,
General Counsel, Attention: Comments/
‘‘Regulatory Review [No. 2023–N–5],’’
Federal Housing Finance Agency, 400
Seventh Street SW, Washington, DC
20219. Deliver the package at the
Seventh Street entrance Guard Desk,
First Floor, on business days between 9
a.m. and 5 p.m.
• U.S. Mail, United Parcel Service,
Federal Express, or Other Mail Service:
The mailing address for comments is:
ddrumheller on DSK120RN23PROD with PROPOSALS1
DATES:
VerDate Sep<11>2014
17:22 Apr 13, 2023
Jkt 259001
Clinton Jones, General Counsel,
Attention: Comments/Regulatory
Review [No. 2023–N–5], Federal
Housing Finance Agency, 400 Seventh
Street SW, Washington, DC 20219.
Please note that all mail sent to FHFA
via U.S. Mail is routed through a
national irradiation facility, a process
that may delay delivery by
approximately two weeks. For any timesensitive correspondence, please plan
accordingly.
FOR FURTHER INFORMATION CONTACT:
Ellen S. Bailey, Managing Associate
General Counsel, ellen.bailey@fhfa.gov,
(202) 649–3056; or Chris Bederka,
Counsel, christopher.bederka@fhfa.gov,
(202) 649–3796, Federal Housing
Finance Agency, Constitution Center,
(OGC) Fourth Floor, 400 Seventh Street
SW, Washington, DC 20219. For TTY/
TRS users with hearing and speech
disabilities, dial 711 and ask to be
connected to any of the contact numbers
above.
SUPPLEMENTARY INFORMATION:
Comments
All comments received will be posted
without change and will include any
personal information provided, such as
your name, address, email address, and
telephone numbers, on the FHFA
website at https://www.fhfa.gov. In
addition, copies of all comments
received will be available for
examination by the public through the
electronic docket for this Notice also
located on the FHFA website.
I. Background; FHFA’s Regulatory
Review Plan
FHFA was established by the Housing
and Economic Recovery Act of 2008,
Public Law 110–289, to supervise and
regulate the Federal National Mortgage
Association (Fannie Mae), the Federal
Home Loan Mortgage Corporation
(Freddie Mac) (together, the
Enterprises), any affiliate of either
Enterprise, the Federal Home Loan
Banks (the Banks), and the Office of
Finance of the Federal Home Loan Bank
System (OF). In 2012, FHFA developed
its Regulatory Review Plan (Review
Plan) after considering principles set
forth in Executive Order 13579,
‘‘Regulation and Independent
Regulatory Agencies’’ (July 11, 2011).1
1 77 FR 10351 (Feb. 22, 2012) (FHFA Regulatory
Review Plan); see also 76 FR 41585 (July 14, 2011)
(E.O. 13579).
PO 00000
Frm 00001
Fmt 4702
Sfmt 4702
Executive Order 13579 requested—but
did not require—independent regulatory
agencies, such as FHFA, to develop,
release to the public, and implement a
plan for the periodic review of their
existing significant regulations to
determine whether any regulation
should be modified, streamlined,
expanded, or repealed to make the
agency’s regulatory program more
effective or less burdensome in
achieving its objectives.
Under its Review Plan, FHFA reviews
its regulations at least every five years,
except for those regulations that were
adopted or substantially amended
within the two years prior to issuance
of a Notice of Regulatory Review and
rules of agency organization, procedure,
or practice. The Review Plan suggests
factors that commenters should consider
in order to assist FHFA with its
regulatory review, including factors
related to legal, regulatory, or market
developments, regulatory overlap, less
burdensome alternatives, and clarity of
regulatory requirements.
II. Results of the 2018 Regulatory
Review
FHFA’s most recent regulatory review
was initiated in April 2018, by a Notice
of Regulatory Review and request for
comments and considered 52
regulations. FHFA received 11 total
comment letters from trade associations,
a research center associated with a
major university, an insured depository
institution, a credit union, and the
Federal Home Loan Banks. FHFA also
conducted an internal review of its
regulations that were subject to the fiveyear Review Plan, seeking staff input on
the same questions on which the
Review Notice sought public comment.
FHFA evaluated all comments
received and determined that some
amendments were warranted. In
response to amendments to the DoddFrank Wall Street Reform and Consumer
Protection Act of 2010 (Pub. L. 111–203,
124 Stat. 1376), and as requested by
commenters, FHFA amended 12 CFR
part 1238 to remove the stress testing
requirements for the Banks.2
Additionally, FHFA undertook a
comprehensive amendment of its
regulation on prior approval of
Enterprise products, 12 CFR part 1253.
In some cases, FHFA determined that a
2 85 FR 16528 (Mar. 24, 2020) (Stress Testing of
Regulated Entities).
E:\FR\FM\14APP1.SGM
14APP1
22920
Federal Register / Vol. 88, No. 72 / Friday, April 14, 2023 / Proposed Rules
suggestion should be considered when
the underlying regulation was otherwise
being amended by FHFA. In other cases,
FHFA determined that an amendment
was not necessary because, for example,
the comment requested a clarification
that could effectively be provided
through another means (such as an
interpretation or guidance).
ddrumheller on DSK120RN23PROD with PROPOSALS1
III. FHFA’s 2023 Regulatory Review;
Request for Comment
Consistent with its Review Plan,
FHFA’s next regulatory review must
begin not later than five years after its
prior review, or in April 2023. All
current regulations—except, as noted,
rules of agency organization, procedure,
or practice, or regulations adopted or
substantially amended since April 2021
(meaning, within the past two years)—
are subject to review. If members of the
public comment on recently adopted or
amended regulations, FHFA may
consider those comments, as it deems
appropriate. FHFA does not anticipate
responding to individual comments.
Regulations administered by FHFA
are published in chapter XII of title 12
of the Code of Federal Regulations,
except for two regulations of
predecessor agencies which FHFA has
not yet moved.3 FHFA’s regulations are
also posted on the FHFA website at
https://www.fhfa.gov.
FHFA hereby requests comment on its
regulations for purposes of improving
their effectiveness and reducing their
burden. Factors that FHFA’s Review
Plan identifies as relevant to the review,
and which FHFA suggests should guide
commenters, are:
(1) Legal or regulatory
developments—including new laws,
executive orders, or judicial decisions
that have been adopted since the
promulgation of a regulation—that make
a regulation inefficient, obsolete,
contrary to controlling legal precedent,
or unduly burdensome;
(2) Marketplace developments,
technological evolution, and related
changes that may have rendered a
regulation, in whole or in part,
inefficient, outmoded, or outdated;
(3) The extent to which provisions of
the regulation are written in plain
language or need clarification;
(4) Compelling evidence that a
consolidation of two or more
3 These are a regulation of the former Office of
Federal Housing Enterprise Oversight on Prompt
Corrective Action related to the Enterprises, at 12
CFR part 1777, which FHFA has suspended due to
the Enterprise conservatorships; and a regulation of
the Department of Housing and Urban Development
on public-use databases and public information
provided by the Enterprises, at 24 CFR part 81,
subpart F.
VerDate Sep<11>2014
17:22 Apr 13, 2023
Jkt 259001
regulations, elimination of a duplicative
regulation, or other revision to
regulatory requirements would facilitate
compliance by Fannie Mae, Freddie
Mac, any affiliate of either Enterprise,
the Banks, or OF with the regulation, or
would improve supervision by FHFA of
Fannie Mae, Freddie Mac, any affiliate
of either Enterprise, the Banks, or OF;
and
(5) Demonstration of a better
alternative method to effect a regulatory
purpose or requirement, supported by
compelling evidence of significantly
less intrusive means or of a substantially
more efficient method of accomplishing
the same supervisory purpose.
In accordance with FHFA’s Review
Plan, the 2023 regulatory review process
will be conducted by the FHFA Office
of General Counsel, which will review
all comments received and consult with
other FHFA offices and divisions. After
that review, a report of findings and
recommendations will be provided to
the FHFA Director. The report of
findings and recommendations will be
privileged and confidential. After
receiving the report of findings and
recommendations, the Director will
determine what steps may be necessary
to relieve any unnecessary burden,
including amendment to or repeal of
existing regulations or issuance of less
formal guidance.
The 2023 FHFA regulatory review is
not a formal or informal rulemaking
proceeding under the Administrative
Procedure Act and creates no right of
action against FHFA. FHFA’s
determination whether to conduct or
not to conduct a review of a regulation
and any determination, finding, or
recommendation resulting from any
review is not a final agency action and
therefore is not subject to judicial
review.
Sandra L. Thompson,
Director, Federal Housing Finance Agency.
[FR Doc. 2023–07928 Filed 4–13–23; 8:45 am]
BILLING CODE 8070–01–P
Notice of proposed rulemaking
(NPRM).
ACTION:
The FAA proposes to adopt a
new airworthiness directive (AD) for all
BAE Systems (Operations) Limited
Model 4101 airplanes. This proposed
AD was prompted by in-service cracking
of the passenger door edge member, seal
carrier, and inner skin, adjacent to the
roller guide bracket. This proposed AD
would require a one-time inspection of
the external visible surface of the inner
skin, door edge member, and seal carrier
adjacent to the roller bracket attachment
brackets; and the inner skin, door edge
member, and seal carrier at the roller
bracket attachment bore, and repair if
necessary. The FAA is proposing this
AD to address the unsafe condition on
these products.
DATES: The FAA must receive comments
on this proposed AD by May 30, 2023.
ADDRESSES: You may send comments,
using the procedures found in 14 CFR
11.43 and 11.45, by any of the following
methods:
• Federal eRulemaking Portal: Go to
regulations.gov. Follow the instructions
for submitting comments.
• Fax: 202–493–2251.
• Mail: U.S. Department of
Transportation, Docket Operations, M–
30, West Building Ground Floor, Room
W12–140, 1200 New Jersey Avenue SE,
Washington, DC 20590.
• Hand Delivery: Deliver to Mail
address above between 9 a.m. and 5
p.m., Monday through Friday, except
Federal holidays.
AD Docket: You may examine the AD
docket at regulations.gov under Docket
No. FAA–2023–0929; or in person at
Docket Operations between 9 a.m. and
5 p.m., Monday through Friday, except
Federal holidays. The AD docket
contains this NPRM, the mandatory
continuing airworthiness information
(MCAI), any comments received, and
other information. The street address for
Docket Operations is listed above.
SUMMARY:
Material Incorporated by Reference
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 39
[Docket No. FAA–2023–0929; Project
Identifier MCAI–2022–01401–T]
RIN 2120–AA64
Airworthiness Directives; BAE
Systems (Operations) Limited
Airplanes
Federal Aviation
Administration (FAA), DOT.
AGENCY:
PO 00000
Frm 00002
Fmt 4702
Sfmt 4702
• For service information identified
in this NPRM, contact BAE Systems
(Operations) Limited, Customer
Information Department, Prestwick
International Airport, Ayrshire, KA9
2RW, Scotland, United Kingdom;
telephone +44 1292 675207; fax +44
1292 675704; email RApublications@
baesystems.com; website regionalservices.com.
• You may view this service
information at the FAA, Airworthiness
Products Section, Operational Safety
Branch, 2200 South 216th St., Des
Moines, WA. For information on the
E:\FR\FM\14APP1.SGM
14APP1
Agencies
[Federal Register Volume 88, Number 72 (Friday, April 14, 2023)]
[Proposed Rules]
[Pages 22919-22920]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-07928]
========================================================================
Proposed Rules
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.
========================================================================
Federal Register / Vol. 88, No. 72 / Friday, April 14, 2023 /
Proposed Rules
[[Page 22919]]
FEDERAL HOUSING FINANCE AGENCY
12 CFR Chapter XII
[No. 2023-N-5]
Notice of Regulatory Review
AGENCY: Federal Housing Finance Agency.
ACTION: Regulatory review; request for comment.
-----------------------------------------------------------------------
SUMMARY: The Federal Housing Finance Agency (FHFA) is issuing a notice
of a regulatory review to be conducted in accordance with the process
set forth in its Regulatory Review Plan published in February 2012, and
is requesting comments on how its regulations may be made more
effective and less burdensome.
DATES: Comments on this notice of regulatory review must be received no
later than June 13, 2023.
ADDRESSES: You may submit your comments, identified by ``Regulatory
Review [No. 2023-N-5]'', by any of the following methods:
Agency website: www.fhfa.gov/open-for-comment-or-input.
Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. If you submit your
comment to the Federal eRulemaking Portal, please also send it by email
to FHFA at [email protected] to ensure timely receipt by FHFA.
Please include ``Regulatory Review [No. 2023-N-5]'' in the subject line
of the message.
Hand Delivered/Courier: The hand delivery address is:
Clinton Jones, General Counsel, Attention: Comments/``Regulatory Review
[No. 2023-N-5],'' Federal Housing Finance Agency, 400 Seventh Street
SW, Washington, DC 20219. Deliver the package at the Seventh Street
entrance Guard Desk, First Floor, on business days between 9 a.m. and 5
p.m.
U.S. Mail, United Parcel Service, Federal Express, or
Other Mail Service: The mailing address for comments is: Clinton Jones,
General Counsel, Attention: Comments/Regulatory Review [No. 2023-N-5],
Federal Housing Finance Agency, 400 Seventh Street SW, Washington, DC
20219. Please note that all mail sent to FHFA via U.S. Mail is routed
through a national irradiation facility, a process that may delay
delivery by approximately two weeks. For any time-sensitive
correspondence, please plan accordingly.
FOR FURTHER INFORMATION CONTACT: Ellen S. Bailey, Managing Associate
General Counsel, [email protected], (202) 649-3056; or Chris
Bederka, Counsel, [email protected], (202) 649-3796, Federal
Housing Finance Agency, Constitution Center, (OGC) Fourth Floor, 400
Seventh Street SW, Washington, DC 20219. For TTY/TRS users with hearing
and speech disabilities, dial 711 and ask to be connected to any of the
contact numbers above.
SUPPLEMENTARY INFORMATION:
Comments
All comments received will be posted without change and will
include any personal information provided, such as your name, address,
email address, and telephone numbers, on the FHFA website at https://www.fhfa.gov. In addition, copies of all comments received will be
available for examination by the public through the electronic docket
for this Notice also located on the FHFA website.
I. Background; FHFA's Regulatory Review Plan
FHFA was established by the Housing and Economic Recovery Act of
2008, Public Law 110-289, to supervise and regulate the Federal
National Mortgage Association (Fannie Mae), the Federal Home Loan
Mortgage Corporation (Freddie Mac) (together, the Enterprises), any
affiliate of either Enterprise, the Federal Home Loan Banks (the
Banks), and the Office of Finance of the Federal Home Loan Bank System
(OF). In 2012, FHFA developed its Regulatory Review Plan (Review Plan)
after considering principles set forth in Executive Order 13579,
``Regulation and Independent Regulatory Agencies'' (July 11, 2011).\1\
Executive Order 13579 requested--but did not require--independent
regulatory agencies, such as FHFA, to develop, release to the public,
and implement a plan for the periodic review of their existing
significant regulations to determine whether any regulation should be
modified, streamlined, expanded, or repealed to make the agency's
regulatory program more effective or less burdensome in achieving its
objectives.
---------------------------------------------------------------------------
\1\ 77 FR 10351 (Feb. 22, 2012) (FHFA Regulatory Review Plan);
see also 76 FR 41585 (July 14, 2011) (E.O. 13579).
---------------------------------------------------------------------------
Under its Review Plan, FHFA reviews its regulations at least every
five years, except for those regulations that were adopted or
substantially amended within the two years prior to issuance of a
Notice of Regulatory Review and rules of agency organization,
procedure, or practice. The Review Plan suggests factors that
commenters should consider in order to assist FHFA with its regulatory
review, including factors related to legal, regulatory, or market
developments, regulatory overlap, less burdensome alternatives, and
clarity of regulatory requirements.
II. Results of the 2018 Regulatory Review
FHFA's most recent regulatory review was initiated in April 2018,
by a Notice of Regulatory Review and request for comments and
considered 52 regulations. FHFA received 11 total comment letters from
trade associations, a research center associated with a major
university, an insured depository institution, a credit union, and the
Federal Home Loan Banks. FHFA also conducted an internal review of its
regulations that were subject to the five-year Review Plan, seeking
staff input on the same questions on which the Review Notice sought
public comment.
FHFA evaluated all comments received and determined that some
amendments were warranted. In response to amendments to the Dodd-Frank
Wall Street Reform and Consumer Protection Act of 2010 (Pub. L. 111-
203, 124 Stat. 1376), and as requested by commenters, FHFA amended 12
CFR part 1238 to remove the stress testing requirements for the
Banks.\2\ Additionally, FHFA undertook a comprehensive amendment of its
regulation on prior approval of Enterprise products, 12 CFR part 1253.
In some cases, FHFA determined that a
[[Page 22920]]
suggestion should be considered when the underlying regulation was
otherwise being amended by FHFA. In other cases, FHFA determined that
an amendment was not necessary because, for example, the comment
requested a clarification that could effectively be provided through
another means (such as an interpretation or guidance).
---------------------------------------------------------------------------
\2\ 85 FR 16528 (Mar. 24, 2020) (Stress Testing of Regulated
Entities).
---------------------------------------------------------------------------
III. FHFA's 2023 Regulatory Review; Request for Comment
Consistent with its Review Plan, FHFA's next regulatory review must
begin not later than five years after its prior review, or in April
2023. All current regulations--except, as noted, rules of agency
organization, procedure, or practice, or regulations adopted or
substantially amended since April 2021 (meaning, within the past two
years)--are subject to review. If members of the public comment on
recently adopted or amended regulations, FHFA may consider those
comments, as it deems appropriate. FHFA does not anticipate responding
to individual comments.
Regulations administered by FHFA are published in chapter XII of
title 12 of the Code of Federal Regulations, except for two regulations
of predecessor agencies which FHFA has not yet moved.\3\ FHFA's
regulations are also posted on the FHFA website at https://www.fhfa.gov.
---------------------------------------------------------------------------
\3\ These are a regulation of the former Office of Federal
Housing Enterprise Oversight on Prompt Corrective Action related to
the Enterprises, at 12 CFR part 1777, which FHFA has suspended due
to the Enterprise conservatorships; and a regulation of the
Department of Housing and Urban Development on public-use databases
and public information provided by the Enterprises, at 24 CFR part
81, subpart F.
---------------------------------------------------------------------------
FHFA hereby requests comment on its regulations for purposes of
improving their effectiveness and reducing their burden. Factors that
FHFA's Review Plan identifies as relevant to the review, and which FHFA
suggests should guide commenters, are:
(1) Legal or regulatory developments--including new laws, executive
orders, or judicial decisions that have been adopted since the
promulgation of a regulation--that make a regulation inefficient,
obsolete, contrary to controlling legal precedent, or unduly
burdensome;
(2) Marketplace developments, technological evolution, and related
changes that may have rendered a regulation, in whole or in part,
inefficient, outmoded, or outdated;
(3) The extent to which provisions of the regulation are written in
plain language or need clarification;
(4) Compelling evidence that a consolidation of two or more
regulations, elimination of a duplicative regulation, or other revision
to regulatory requirements would facilitate compliance by Fannie Mae,
Freddie Mac, any affiliate of either Enterprise, the Banks, or OF with
the regulation, or would improve supervision by FHFA of Fannie Mae,
Freddie Mac, any affiliate of either Enterprise, the Banks, or OF; and
(5) Demonstration of a better alternative method to effect a
regulatory purpose or requirement, supported by compelling evidence of
significantly less intrusive means or of a substantially more efficient
method of accomplishing the same supervisory purpose.
In accordance with FHFA's Review Plan, the 2023 regulatory review
process will be conducted by the FHFA Office of General Counsel, which
will review all comments received and consult with other FHFA offices
and divisions. After that review, a report of findings and
recommendations will be provided to the FHFA Director. The report of
findings and recommendations will be privileged and confidential. After
receiving the report of findings and recommendations, the Director will
determine what steps may be necessary to relieve any unnecessary
burden, including amendment to or repeal of existing regulations or
issuance of less formal guidance.
The 2023 FHFA regulatory review is not a formal or informal
rulemaking proceeding under the Administrative Procedure Act and
creates no right of action against FHFA. FHFA's determination whether
to conduct or not to conduct a review of a regulation and any
determination, finding, or recommendation resulting from any review is
not a final agency action and therefore is not subject to judicial
review.
Sandra L. Thompson,
Director, Federal Housing Finance Agency.
[FR Doc. 2023-07928 Filed 4-13-23; 8:45 am]
BILLING CODE 8070-01-P