Department of Treasury November 17, 2010 – Federal Register Recent Federal Regulation Documents

On October 5, 2010 (75 FR 61563) the OTS inadvertently cited on page 61565 the last six bullets as additional requirements for the Thrift Financial Report. This notice is issued to correct that error. The 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 comment on proposed and continuing information collections, as required by the Paperwork Reduction Act of 1995, 44 U.S.C. 3507. Today, the Office of Thrift Supervision within the Department of the Treasury solicits comments on proposed changes to the Thrift Financial Report (TFR), Schedule SCConsolidated Statement of Condition, Schedule SOConsolidated Statement of Operations, Schedule VAConsolidated Valuation Allowances and Related Data, Schedule PDConsolidated Past Due and Nonaccrual, Schedule LDLoan Data, Schedule CCConsolidated Commitments and Contingencies, Schedule CFConsolidated Cash Flow Information, Schedule DIConsolidated Deposit Information, Schedule SIConsolidated Supplemental Information, Schedule FSFiduciary and Related Services, and Schedule CCRConsolidated Capital Requirement, and on a proposed new Schedule VIEVariable Interest Entities. The changes are proposed to become effective in March 2011. At the end of the comment period, OTS will analyze the comments and recommendations received to determine if it should modify the proposed revisions prior to giving its final approval. OTS will then submit the revisions to the Office of Management and Budget (OMB) for review and approval.

The Treasury Department's Office of Foreign Assets Control (``OFAC'') is publishing the names of 37 newly-designated entities and 5 newly-designated individuals whose property and interests in property are blocked pursuant to Executive Order 13382 of June 28, 2005, ``Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters.''

In the Rules and Regulations section of this issue in the Federal Register, the IRS is issuing temporary regulations regarding status as a grandfathered health plan under the provisions of the Patient Protection and Affordable Care Act (the Affordable Care Act) in connection with changes in policies, certificates, or contracts of insurance. The temporary regulations provide guidance to employers, group health plans, and health insurance issuers providing group health insurance coverage. The IRS is issuing the temporary regulations at the same time that the Employee Benefits Security Administration of the U.S. Department of Labor and the Office of Consumer Information and Insurance Oversight of the U.S. Department of Health and Human Services are issuing substantially similar interim final regulations with respect to group health plans and health insurance coverage offered in connection with a group health plan under the Employee Retirement Income Security Act of 1974 and the Public Health Service Act. The text of the temporary regulations being issued by the IRS serves as the text of these proposed regulations.

This document contains an amendment to interim final regulations implementing the rules for group health plans and health insurance coverage in the group and individual markets under provisions of the Patient Protection and Affordable Care Act regarding status as a grandfathered health plan; the amendment permits certain changes in policies, certificates, or contracts of insurance without loss of grandfathered status.