Agencies and Commissions September 2006 – Federal Register Recent Federal Regulation Documents

This is a notice of an Administrative declaration of a disaster for the Commonwealth of Pennsylvania dated 09/18/2006. Incident: Severe Storms and Flooding. Incident Period: 08/29/2006 through 09/02/2006.

SUMMARY: Background. Notice is hereby given of the final approval of proposed information collections by the Board of Governors of the Federal Reserve System (Board) under OMB delegated authority, as per 5 CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the Public). Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the OMB 83-I's and supporting statements and approved collection of information instrument(s) are placed into OMB's public docket files. The Federal Reserve may not conduct or sponsor, and the respondent is not required to respond to, an information collection that has been extended, revised, or implemented on or after October 1, 1995, unless it displays a currently valid OMB control number.

The inventions listed below assigned to the National Aeronautics and Space Administration, have been filed in the United States Patent and Trademark Office, and are available for licensing.

The inventions listed below are assigned to the National Aeronautics and Space Administration, are the subject of a patent application that has been filed in the United States Patent and Trademark office, and are available for licensing.

The inventions listed below assigned to the National Aeronautics and Space Administration, have been filed in the United States Patent and Trademark office, and are available for licensing.

NCUA is amending its share insurance rules to implement amendments to the Federal Credit Union Act (FCU Act) made by the Federal Deposit Insurance Reform Act of 2005 (Reform Act) and the Federal Deposit Insurance Reform Conforming Amendments Act of 2005 (Conforming Amendments Act). In this regard, the final rule: Defines the ``standard maximum share insurance amount'' as $100,000 and provides that beginning in 2010, and in each subsequent 5-year period thereafter, NCUA and the Federal Deposit Insurance Corporation (FDIC) will jointly consider if an inflation adjustment is appropriate to increase that amount; increases the share insurance limit for certain retirement accounts from $100,000 to $250,000, subject to the above inflation adjustments; and provides pass-through coverage to each participant of an employee benefit plan, but limits the acceptance of shares in employee benefit plans to insured credit unions that are well capitalized or adequately capitalized. Additionally, NCUA is amending its share insurance rules to clarify insurance coverage for qualified tuition savings programs, commonly referred to as 529 plans, and share accounts denominated in foreign currencies.

This proposal encompasses six objectives. It would give effect to the statutory reduction in the frequency of audits required of Preferred Surety Bond (PSB) Sureties. It would obligate SBA to guarantee 90 percent of the Loss incurred by a Prior Approval Surety on bonds issued on behalf of small businesses owned and controlled by veterans, including service-disabled veterans. It would impose a 45-day deadline on Sureties for the remission of surety fees to SBA in lieu of the present requirement of payment in the ordinary course of business, and would allow SBA to deny liability if payment is not timely made. It would allow PSB Sureties to charge premiums in accordance with applicable state ceilings, as presently permitted under the Prior Approval Program. It would delete the existing reference to the expiration of the PSB Program and, finally, it would allow Affiliates of a PSB Surety to participate in the Prior Approval Program.

The National Aeronautics and Space Administration (NASA) has adopted as final, without change, an interim final rule regarding the policy and procedures for International Space Station crewmembers provided by NASA for flight to the International Space Station.

Pursuant to subsection (e)(4) of the Privacy Act of 1974, as amended (5 U.S.C. 552a), the FCC proposes to change the name and alter two system of records, FCC/OMD-16, ``Personal Security Files'' (formerly ``Personnel Investigation Records'') and FCC/OMD-24, ``Physical Access Control System (PACS)'' (formerly ``Access Control System''). The two altered systems of records incorporate changes pursuant to the FCC's compliance with the Homeland Security Presidential Directive 12 (HSPD-12). The FCC will alter what information is maintained; the authority under which the systems of records are maintained; the purposes for which the information is maintained; add or modify the routine uses; revise the policies and practices for how the information is stored, safeguarded, retained, and disposed of; and will make other edits and revisions as necessary to comply with HSPD-12 implementation requirements and associated guidance provided in OMB Memorandum M-06-06 (February 17, 2006).

In accordance with the Paperwork Reduction Act of 1995 (Pub. L. 104-13, May 22, 1995 and 5 CFR 1320), this notice announces that the Office of Personnel Management (OPM) has submitted to the Office of Management and Budget (OMB) a request for review of a revised information collection. RI 25-15, Notice of Change in Student's Status, is used to collect sufficient information from adult children of deceased Federal employees or annuitants to assure that the child continues to be eligible for payments from OPM. Approximately 2,500 certifications are processed annually. Each form takes approximately 20 minutes to complete. The annual estimated burden is 835 hours. For copies of this proposal, contact Mary Beth Smith-Toomey on (202) 606-8358, FAX (202) 418-3251 or E-mail to MaryBeth Smith- Toomey@opm.gov. Please include your mailing address with your request.

In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, the FDIC, and the OTS (collectively, the agencies) may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, has approved the agencies' publication for public comment of proposed new regulatory reporting requirements for banks \1\ that qualify for and adopt the Advanced Capital Adequacy Framework to calculate their risk-based capital requirement or are in the parallel run stage of qualifying to adopt this framework. The proposal describes the scope of reporting and the proposed reporting requirements. At the end of the comment period, the comments and recommendations received will be analyzed to determine the extent to which the FFIEC should modify the proposed reporting requirements prior to giving its final approval. The agencies will then submit the proposed reporting requirements to OMB for review and approval and, upon approval, OMB will assign control numbers.

The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (collectively, the agencies) are proposing a new risk-based capital adequacy framework that would require some and permit other qualifying banks \1\ to use an internal ratings-based approach to calculate regulatory credit risk capital requirements and advanced measurement approaches to calculate regulatory operational risk capital requirements. The proposed rule describes the qualifying criteria for banks required or seeking to operate under the proposed framework and the applicable risk-based capital requirements for banks that operate under the framework.