Department of Treasury September 27, 2011 – Federal Register Recent Federal Regulation Documents

Government Securities Act Regulations; Replacement of References to Credit Ratings and Technical Amendments
Document Number: 2011-24785
Type: Proposed Rule
Date: 2011-09-27
Agency: Department of the Treasury, Department of Treasury
The Department of the Treasury (``Treasury'' or ``We'') is issuing this proposed rule to solicit public comment on a proposed amendment to the regulations issued under the Government Securities Act of 1986, as amended (``GSA''), to replace references to credit ratings in our rules with alternative requirements. Section 939A of the Dodd- Frank Wall Street Reform and Consumer Protection Act of 2010 requires Federal agencies to remove from their applicable regulations any reference to or requirement of reliance on credit ratings and to substitute a standard of creditworthiness as the agency determines appropriate for such regulations. In this release Treasury is requesting comment on a substitute standard of creditworthiness for use in the liquid capital rule required by GSA regulations. Separately, we are proposing in this release several non-substantive, technical amendments to Treasury's GSA regulations to update certain information or to delete certain requirements that are no longer applicable.