Department of Treasury – Federal Register Recent Federal Regulation Documents

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Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for the IRS Taxpayer Burden Surveys
Document Number: 2019-25008
Type: Notice
Date: 2019-11-19
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning the 2019, 2020, and 2021 IRS Taxpayer Burden Surveys.
Ownership Attribution for Purposes of Determining Whether a Person Is Related to a Controlled Foreign Corporation; Rents Derived in the Active Conduct of a Trade or Business
Document Number: 2019-24985
Type: Rule
Date: 2019-11-19
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations regarding the attribution of ownership of stock or other interests for purposes of determining whether a person is a related person with respect to a controlled foreign corporation (``CFC'') under section 954(d)(3). In addition, the final regulations provide rules for determining whether a CFC is considered to derive rents in the active conduct of a trade or business for purposes of computing foreign personal holding company income. This document finalizes the proposed regulations published on May 20, 2019. The regulations affect United States persons with direct or indirect ownership interests in certain foreign corporations.
Proposed Information Collections; Comment Request (No. 76)
Document Number: 2019-25037
Type: Notice
Date: 2019-11-18
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
As part of our continuing effort to reduce paperwork and respondent burden, and as required by the Paperwork Reduction Act of 1995, we invite comments on the proposed or continuing information collections listed below in this notice.
Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds
Document Number: 2019-22695
Type: Rule
Date: 2019-11-14
Agency: Commodity Futures Trading Commission, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, Securities and Exchange Commission, Department of Treasury, Office of the Comptroller of the Currency
The OCC, Board, FDIC, SEC, and CFTC are adopting amendments to the regulations implementing section 13 of the Bank Holding Company Act. Section 13 contains certain restrictions on the ability of a banking entity and nonbank financial company supervised by the Board to engage in proprietary trading and have certain interests in, or relationships with, a hedge fund or private equity fund. These final amendments are intended to provide banking entities with clarity about what activities are prohibited and to improve supervision and implementation of section 13.
Electronic Filing of the Report of Health Insurance Provider Information
Document Number: 2019-24671
Type: Rule
Date: 2019-11-13
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations amending the Health Insurance Providers Fee regulations to require certain covered entities engaged in the business of providing health insurance for United States health risks to electronically file Form 8963, ``Report of Health Insurance Provider Information.'' These final regulations affect those entities.
Regulatory Capital Rule: Capital Simplification for Qualifying Community Banking Organizations
Document Number: 2019-23472
Type: Rule
Date: 2019-11-13
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are adopting a final rule that provides for a simple measure of capital adequacy for certain community banking organizations, consistent with section 201 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (final rule). Under the final rule, depository institutions and depository institution holding companies that have less than $10 billion in total consolidated assets and meet other qualifying criteria, including a leverage ratio (equal to tier 1 capital divided by average total consolidated assets) of greater than 9 percent, will be eligible to opt into the community bank leverage ratio framework (qualifying community banking organizations). Qualifying community banking organizations that elect to use the community bank leverage ratio framework and that maintain a leverage ratio of greater than 9 percent will be considered to have satisfied the generally applicable risk-based and leverage capital requirements in the agencies' capital rules (generally applicable rule) and, if applicable, will be considered to have met the well-capitalized ratio requirements for purposes of section 38 of the Federal Deposit Insurance Act. The final rule includes a two-quarter grace period during which a qualifying community banking organization that temporarily fails to meet any of the qualifying criteria, including the greater than 9 percent leverage ratio requirement, generally would still be deemed well-capitalized so long as the banking organization maintains a leverage ratio greater than 8 percent. At the end of the grace period, the banking organization must meet all qualifying criteria to remain in the community bank leverage ratio framework or otherwise must comply with and report under the generally applicable rule. Similarly, a banking organization that fails to maintain a leverage ratio greater than 8 percent would not be permitted to use the grace period and must comply with the capital rule's generally applicable requirements and file the appropriate regulatory reports.
Regulatory Capital Rule: Simplifications to the Capital Rule Pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996; Revised Effective Date
Document Number: 2019-23467
Type: Rule
Date: 2019-11-13
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are adopting a final rule that permits insured depository institutions and depository institution holding companies not subject to the advanced approaches capital rule to implement certain provisions of the final rule titled Regulatory Capital: Simplifications to the Capital Rule Pursuant to the Economic Growth and Regulatory Paperwork Reduction Act of 1996, which was issued by the agencies in July 22, 2019, (Capital Simplifications Final Rule) on January 1, 2020, rather than April 1, 2020, as initially provided. Consistent with this approach, the transitions provisions of the regulatory capital rule are being amended to provide that banking organizations not subject to the advanced approaches capital rule will be permitted to implement the Capital Simplifications Final Rule as of its revised effective date in the quarter beginning January 1, 2020, or to wait until the quarter beginning April 1, 2020.
Notice of Rate To Be Used for Federal Debt Collection, and Discount and Rebate Evaluation
Document Number: 2019-24534
Type: Notice
Date: 2019-11-12
Agency: Fiscal Service, Public Debt Bureau, Department of Treasury, Department of the Treasury
The Secretary of the Treasury is responsible for computing and publishing the percentage rate that is used in assessing interest charges for outstanding debts owed to the Government (The Debt Collection Act of 1982, as amended). This rate is also used by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, this rate is used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate. Notice is hereby given that the applicable rate for calendar year 2020 is 2.00 percent.
Quarterly Publication of Individuals, Who Have Chosen To Expatriate, as Required by Section 6039G
Document Number: 2019-24474
Type: Notice
Date: 2019-11-12
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This notice is provided in accordance with IRC section 6039G of the Health Insurance Portability and Accountability Act (HIPPA) of 1996, as amended. This listing contains the name of each individual losing United States citizenship (within the meaning of section 877(a) or 877A) with respect to whom the Secretary received information during the quarter ending September 30, 2019. For purposes of this listing, long-term residents, as defined in section 877(e)(2), are treated as if they were citizens of the United States who lost citizenship.
Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Requirements for Investment in Qualified Caribbean Basin Countries
Document Number: 2019-24456
Type: Notice
Date: 2019-11-12
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning the collection of information related to the requirements for investments to qualify under section 936(d)(4) as investments in Qualified Caribbean Basin countries.
Updated Life Expectancy and Distribution Period Tables Used for Purposes of Determining Minimum Required Distributions
Document Number: 2019-24065
Type: Proposed Rule
Date: 2019-11-08
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document sets forth proposed regulations providing guidance relating to the life expectancy and distribution period tables that are used to calculate required minimum distributions from qualified retirement plans, individual retirement accounts and annuities, and certain other tax-favored employer-provided retirement arrangements. These regulations affect participants, beneficiaries, and plan administrators of these qualified retirement plans and other tax- favored employer-provided retirement arrangements, as well as owners, beneficiaries, trustees and custodians of individual retirement accounts and annuities. This document also provides a notice of a public hearing on these proposed regulations.
Eligible Terminated S Corporations
Document Number: 2019-24098
Type: Proposed Rule
Date: 2019-11-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This notice of proposed rulemaking provides rules regarding the definition of an eligible terminated S corporation (ETSC). In addition, these proposed regulations provide rules relating to distributions of money by an ETSC after the post-termination transition period (PTTP). Finally, these proposed regulations revise current regulations to extend the treatment of distributions of money during the PTTP to all shareholders of the corporation and to update and clarify the allocation of current earnings and profits to distributions of money and other property. These proposed regulations would affect certain C corporations and the shareholders of such corporations.
Margin and Capital Requirements for Covered Swap Entities
Document Number: 2019-23541
Type: Proposed Rule
Date: 2019-11-07
Agency: Farm Credit Administration, Agencies and Commissions, Federal Deposit Insurance Corporation, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Federal Housing Finance Agency
The OCC, Board, FDIC, FCA, and FHFA (each, an agency, and collectively, the agencies) request comment on a proposed rule that would amend the agencies' regulations that require swap dealers and security-based swap dealers under the agencies' respective jurisdictions to exchange margin with their counterparties for swaps that are not centrally cleared (Swap Margin Rule). The Swap Margin Rule as adopted in 2015 takes effect under a phased compliance schedule spanning from 2016 through 2020, and the dealers covered by the rule continue to hold swaps in their portfolios that were entered into before the effective dates of the rule. Such swaps are grandfathered from the Swap Margin Rule's requirements until they expire according to their terms. The proposed rule would permit swaps entered into prior to an applicable compliance date (legacy swaps) to retain their legacy status in the event that they are amended to replace an interbank offered rate (IBOR) or other discontinued rate, repeal the inter- affiliate initial margin provisions, introduce an additional compliance date for initial margin requirements, clarify the point in time at which trading documentation must be in place, permit legacy swaps to retain their legacy status in the event that they are amended due to technical amendments, notional reductions, or portfolio compression exercises, and make technical changes to relocate the provision addressing amendments to legacy swaps that are made to comply with the Qualified Financial Contract Rules, as defined in the Supplementary Information section.
Proposed Collection; Comment Request for Regulation Project
Document Number: 2019-24213
Type: Notice
Date: 2019-11-06
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning changes in accounting periods.
Proposed Collection; Comment Request for Form Project
Document Number: 2019-24212
Type: Notice
Date: 2019-11-06
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning U.S. estate tax return for qualified domestic trusts.
Proposed Collection; Comment Request for Form Project
Document Number: 2019-24211
Type: Notice
Date: 2019-11-06
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning country-by-country reporting.
Agency Information Collection Activities: Information Collection Renewal; Comment Request; Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery
Document Number: 2019-24076
Type: Notice
Date: 2019-11-05
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on a continuing information collection as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC 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 OCC is soliciting comment concerning the renewal of its information collection titled, ``Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery.''
Proposed Collection; Comment Request for Regulation Project
Document Number: 2019-24011
Type: Notice
Date: 2019-11-04
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning treatment of shareholders of certain passive foreign investment companies.
Agency Information Collection Activities: Information Collection Revision; Submission for OMB Review; Regulation E-Electronic Fund Transfer Act and Regulation Z-Truth in Lending Act
Document Number: 2019-23960
Type: Notice
Date: 2019-11-04
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to take this opportunity to comment on a continuing information collection as required by the Paperwork Reduction Act of 1995 (PRA). An agency may not conduct or sponsor, and respondents are not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning revisions to the information collections titled ``Regulation EElectronic Fund Transfer Act'' and ``Regulation ZTruth in Lending Act.'' The OCC also is giving notice that it has sent the collection to OMB for review.
The Treatment of Certain Interests in Corporations as Stock or Indebtedness
Document Number: 2019-23819
Type: Proposed Rule
Date: 2019-11-04
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document announces that the Department of the Treasury (Treasury Department) and the IRS intend to issue proposed regulations regarding the treatment of certain interests in corporations as stock or indebtedness and requests comments from the public regarding the contemplated rules. This document also announces that, following the expiration of the 2016 Temporary Regulations (described in the Background section of this advance notice of proposed rulemaking), a taxpayer may rely on the 2016 Proposed Regulations (also described in the Background) until further notice is given in the Federal Register, provided that the taxpayer consistently applies the rules in the 2016 Proposed Regulations in their entirety.
Removal of Section 385 Documentation Regulations
Document Number: 2019-23817
Type: Rule
Date: 2019-11-04
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document removes final regulations setting forth minimum documentation requirements that ordinarily must be satisfied in order for certain related-party interests in a corporation to be treated as indebtedness for Federal tax purposes. This document also adopts conforming amendments to other final regulations to reflect the removal of the documentation regulations. The final regulations removed or amended by this document generally affect corporations that issue purported indebtedness to related corporations or partnerships.
Changes to Applicability Thresholds for Regulatory Capital and Liquidity Requirements
Document Number: 2019-23800
Type: Rule
Date: 2019-11-01
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) (together, the agencies) are adopting a final rule to revise the criteria for determining the applicability of regulatory capital and liquidity requirements for large U.S. banking organizations and the U.S. intermediate holding companies of certain foreign banking organizations. The final rule establishes four risk-based categories for determining the applicability of requirements under the agencies' regulatory capital rule and liquidity coverage ratio (LCR) rule. Under the final rule, such requirements increase in stringency based on measures of size, cross-jurisdictional activity, weighted short-term wholesale funding, nonbank assets, and off-balance sheet exposure. The final rule applies tailored regulatory capital and liquidity requirements to depository institution holding companies and U.S. intermediate holding companies with $100 billion or more in total consolidated assets as well as to certain depository institutions. Separately, the Board is adopting a final rule that revises the criteria for determining the applicability of enhanced prudential standards for large domestic and foreign banking organizations using a risk-based category framework that is consistent with the framework described in this final rule, and makes additional modifications to the Board's company-run stress test and supervisory stress test rules. In addition, the Board and the FDIC are separately adopting a final rule that amends the resolution planning requirements under section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act using a risk-based category framework that is consistent with the framework described in this final rule.
Information Reporting for Certain Life Insurance Contract Transactions and Modifications to the Transfer for Valuable Consideration Rules
Document Number: 2019-23559
Type: Rule
Date: 2019-10-31
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations providing guidance on new information reporting obligations under section 6050Y related to reportable policy sales of life insurance contracts and payments of reportable death benefits. The final regulations also provide guidance on the amount of death benefits excluded from gross income under section 101 following a reportable policy sale. The final regulations affect parties involved in certain life insurance contract transactions, including reportable policy sales, transfers of life insurance contracts to foreign persons, and payments of reportable death benefits.
Appraisals for Higher-Priced Mortgage Loans Exemption Threshold
Document Number: 2019-21559
Type: Rule
Date: 2019-10-30
Agency: Federal Reserve System, Agencies and Commissions, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Bureau of Consumer Financial Protection
The OCC, the Board, and the Bureau are finalizing amendments to the official interpretations for their regulations that implement section 129H of the Truth in Lending Act (TILA). Section 129H of TILA establishes special appraisal requirements for ``higher-risk mortgages,'' termed ``higher-priced mortgage loans'' or ``HPMLs'' in the agencies' regulations. The OCC, the Board, the Bureau, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Federal Housing Finance Agency (FHFA) (collectively, the Agencies) issued joint final rules implementing these requirements, effective January 18, 2014. The Agencies' rules exempted, among other loan types, transactions of $25,000 or less, and required that this loan amount be adjusted annually based on any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). If there is no annual percentage increase in the CPI-W, the OCC, the Board, and the Bureau will not adjust this exemption threshold from the prior year. However, in years following a year in which the exemption threshold was not adjusted, the threshold is calculated by applying the annual percentage increase in the CPI-W to the dollar amount that would have resulted, after rounding, if the decreases and any subsequent increases in the CPI-W had been taken into account. Based on the CPI-W in effect as of June 1, 2019, the exemption threshold will increase from $26,700 to $27,200, effective January 1, 2020.
Prompt Payment Interest Rate; Contract Disputes Act
Document Number: 2019-23483
Type: Notice
Date: 2019-10-28
Agency: Fiscal Service, Public Debt Bureau, Department of Treasury, Department of the Treasury
For the period beginning July 1, 2019, and ending on December 31, 2019, the prompt payment interest rate is 2\5/8\ per centum per annum.
Fee Schedule for the Transfer of U.S. Treasury Book-Entry Securities Held on the Fedwire Securities Service
Document Number: 2019-23482
Type: Notice
Date: 2019-10-28
Agency: Fiscal Service, Public Debt Bureau, Department of Treasury, Department of the Treasury
The Department of the Treasury (Treasury) is announcing a new fee schedule applicable to transfers of U.S. Treasury book-entry securities maintained on the Fedwire Securities Service (Fedwire) that occur on or after January 2, 2020.
Internal Revenue Service Advisory Council; Meeting
Document Number: 2019-23409
Type: Notice
Date: 2019-10-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service Advisory Council (IRSAC) will hold a public meeting on Wednesday, November 20, 2019.
Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Requirements for Qualified Domestic Trusts
Document Number: 2019-23397
Type: Notice
Date: 2019-10-25
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning the collection of information related to the requirements to ensure collection of section 2056A estate tax.
Proposed Collection; Comment Request for Rev. Proc. 2018-31
Document Number: 2019-23009
Type: Notice
Date: 2019-10-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service (IRS), as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Revenue Procedure 2018-31, Changes in Accounting periods and in Methods of Accounting.
Proposed Collection; Comment Request for Regulation Project
Document Number: 2019-22976
Type: Notice
Date: 2019-10-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning obligations of states and political subdivisions.
Proposed Collection; Comment Request for Form Project.
Document Number: 2019-22975
Type: Notice
Date: 2019-10-22
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning tuition payments statement.
Other Real Estate Owned and Technical Amendments
Document Number: 2019-22823
Type: Rule
Date: 2019-10-22
Agency: Department of Treasury, Office of the Comptroller of the Currency
The OCC is issuing a final rule to clarify and streamline its regulation on other real estate owned (OREO) for national banks and update the regulatory framework for OREO activities at Federal savings associations. The OCC is also removing outdated capital rules for national banks and Federal savings associations, which include provisions related to OREO, and making conforming edits to other rules that reference those capital rules.
Proposed Collection; Comment Request for Form 8933
Document Number: 2019-22844
Type: Notice
Date: 2019-10-21
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting comments concerning Form 8933, Carbon Dioxide Sequestration Credit.
Privacy Act of 1974; System of Records
Document Number: 2019-22408
Type: Notice
Date: 2019-10-18
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
In accordance with the Privacy Act of 1974, the Department of the Treasury (``Treasury'' or the ``Department''), Office of the Comptroller of the Currency, proposes to modify a system of records titled, ``Department of the Treasury, Office of the Comptroller .220 Notices of Proposed Changes in Employees, Officers and Directors Tracking SystemTreasury/Comptroller.'' This electronic system, is used to maintain the applications, background materials, and tracking information related to applications submitted by OCC-regulated entities for approval of employees, proposed directors or senior executive officers of a national bank, federal savings association, or federal branches of foreign banks; and requests from foreign banking supervisors for information about a former or existing employee of an OCC-regulated institution. Records in this system may be contained in an electronic system used by the OCC's Large Bank Supervision examiners or in an electronic system used by the OCC's Midsize and Community Bank supervision examiners, depending on the bank to which the records pertain. Additional copies of information may be contained in paper working files.
Interagency Guidance on Credit Risk Review Systems
Document Number: 2019-22656
Type: Notice
Date: 2019-10-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Department of Treasury, Office of the Comptroller of the Currency
The OCC, the Board, the FDIC, and the NCUA (collectively, the agencies) are inviting comment on proposed guidance for credit risk review systems. This proposed guidance is relevant to all institutions supervised by the agencies. The proposed guidance discusses sound management of credit risk, a system of independent, ongoing credit review, and appropriate communication regarding the performance of the institution's loan portfolio to its management and board of directors.
Interagency Policy Statement on Allowances for Credit Losses
Document Number: 2019-22655
Type: Proposed Rule
Date: 2019-10-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, National Credit Union Administration, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (collectively, the banking agencies), and the National Credit Union Administration (collectively, the agencies) are inviting public comment on a proposed interagency policy statement on allowances for credit losses (ACLs). The agencies are issuing this proposed interagency policy statement in response to changes to U.S. generally accepted accounting principles (GAAP) as promulgated by the Financial Accounting Standards Board (FASB) in Accounting Standards Update (ASU) 2016-13, Financial InstrumentsCredit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments and subsequent amendments issued since June 2016. These updates are codified in Accounting Standards Codification (ASC) Topic 326, Financial InstrumentsCredit Losses (FASB ASC Topic 326). This proposed interagency policy statement describes the measurement of expected credit losses under the current expected credit losses (CECL) methodology and the accounting for impairment on available-for-sale (AFS) debt securities in accordance with FASB ASC Topic 326; supervisory expectations for designing, documenting, and validating expected credit loss estimation processes, including the internal controls over these processes; maintaining appropriate ACLs; the responsibilities of boards of directors and management; and examiner reviews of ACLs.
Agency Information Collection Activities; Submission for OMB Review; Comment Request
Document Number: 2019-22654
Type: Notice
Date: 2019-10-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the OCC, the Board, and the FDIC (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. On June 25, 2019, the agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), requested public comment for 60 days on a proposal to extend for three years without revision the Market Risk Regulatory Report for Institutions Subject to the Market Risk Capital Rule (FFIEC 102), which is currently an approved collection of information for each agency. The comment period for the June 2019 notice ended on August 26, 2019. As described in the SUPPLEMENTARY INFORMATION section, no comments were received on the proposal; therefore, the FFIEC and the agencies will proceed with the extension of the FFIEC 102 as proposed. In addition, the agencies are giving notice that they are sending the collections to OMB for review.
Proposed Collection; Comment Request for Form Project
Document Number: 2019-22575
Type: Notice
Date: 2019-10-17
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning gas guzzler tax.
Agency Information Collection Activities; Proposed Collection: Comment Request; Uses of Awards Report Form
Document Number: 2019-22574
Type: Notice
Date: 2019-10-17
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed information collections, as required by the Paperwork Reduction Act of 1995. Currently, the Community Development Financial Institutions Fund (the CDFI Fund), the Department of the Treasury, is soliciting comments concerning the Uses of Awards Report Form, which is completed by the Bank Enterprise Award Program (BEA Program) Recipients and the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) Recipients.
Reporting of Data on Loans to Small Businesses and Small Farms
Document Number: 2019-22568
Type: Notice
Date: 2019-10-17
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
The OCC, the Board, and the FDIC (collectively, the agencies) are requesting comment on ways to modify the current requirements for reporting data on loans to small businesses and small farms in the Consolidated Reports of Condition and Income (Call Report) so that the reported data better reflect lending to these sectors of the U.S. economy.
Agency Information Collection Activities: Information Collection Revision; Comment Request; Regulation C-Home Mortgage Disclosure
Document Number: 2019-22473
Type: Notice
Date: 2019-10-16
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on a continuing information collection as required by the Paperwork Reduction Act of 1995 (PRA). An agency may not conduct or sponsor, and respondents are not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the revision of the information collection titled ``Regulation CHome Mortgage Disclosure.''
Election To Take Disaster Loss Deduction for Preceding Year
Document Number: 2019-22376
Type: Rule
Date: 2019-10-16
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a final regulation relating to the election to accelerate the timing of a loss sustained by a taxpayer attributable to a federally declared disaster. Additionally, this document removes the temporary regulation.
Management of Federal Agency Disbursements
Document Number: 2019-21825
Type: Proposed Rule
Date: 2019-10-16
Agency: Fiscal Service, Public Debt Bureau, Department of Treasury, Department of the Treasury
The Department of the Treasury (Treasury), Bureau of the Fiscal Service (Fiscal Service or ``we''), is proposing to amend its regulation that requires electronic delivery of all Federal payments aside from tax payments. The proposed rule would eliminate obsolete references in the regulation, including references to the Electronic Transfer Account (ETA\SM\). In addition, the proposed rule would provide for the disbursement of non-benefit payments, including tax payments, through Treasury-sponsored accounts, such as the U.S. Debit Card. The proposed rule would not mandate the electronic delivery of tax payments or affect the Direct Express[supreg] program, which will continue to be available to recipients of benefit payments.
Proposed Collection; Comment Request for Form 1363
Document Number: 2019-22443
Type: Notice
Date: 2019-10-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service (IRS), as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Export Exemption Certificate.
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; OCC Supplier Registration Form
Document Number: 2019-22407
Type: Notice
Date: 2019-10-15
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to take this opportunity to comment on the renewal of an information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and respondents are not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled, ``OCC Supplier Registration Form.'' The OCC also is giving notice that it has sent the collection to OMB for review.
Agency Information Collection Activities; Proposed Collection: Comment Request; Bank Enterprise Award Program Application
Document Number: 2019-22377
Type: Notice
Date: 2019-10-15
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act (PRA) of 1995. Currently, the Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the Bank Enterprise Award Program (BEA Program) Application, for the fiscal year (FY) 2020- FY 2022 funding rounds (hereafter, the Application or Applications).
Proposed Collection; Comment Request for Regulation Project
Document Number: 2019-22372
Type: Notice
Date: 2019-10-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning regulations governing practice before the Internal Revenue Service.
Multiple Employer Plans; Hearing
Document Number: 2019-22369
Type: Proposed Rule
Date: 2019-10-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document provides a notice of public hearing on proposed regulations relating to the tax qualification of plans maintained by more than one employer. These plans, maintained pursuant to section 413(c) of the Internal Revenue Code (Code), are often referred to as multiple employer plans or MEPs.
Proposed Establishment of the Royal Slope Viticultural Area
Document Number: 2019-22266
Type: Proposed Rule
Date: 2019-10-15
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB) proposes to establish the 156,389-acre ``Royal Slope'' viticultural area in Adams and Grant Counties, in Washington. The proposed viticultural area lies entirely within the existing Columbia Valley viticultural area. TTB designates viticultural areas to allow vintners to better describe the origin of their wines and to allow consumers to better identify wines they may purchase. TTB invites comments on this proposed addition to its regulations.
Proposed Establishment of the Alisos Canyon Viticultural Area
Document Number: 2019-22264
Type: Proposed Rule
Date: 2019-10-15
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB) proposes to establish the approximately 5,774-acre ``Alisos Canyon'' viticultural area in Santa Barbara County, California. The proposed viticultural area lies entirely within the established Central Coast viticultural area. TTB designates viticultural areas to allow vintners to better describe the origin of their wines and to allow consumers to better identify wines they may purchase. TTB invites comments on this proposed addition to its regulations.