Department of Treasury September 26, 2014 – Federal Register Recent Federal Regulation Documents

Public Input on the Establishment of Financial Data Standards (Data Exchange)
Document Number: 2014-22997
Type: Notice
Date: 2014-09-26
Agency: Fiscal Service, Public Debt Bureau, Department of Treasury, Department of the Treasury
The Digital Accountability and Transparency Act of 2014 (DATA Act) was enacted for purposes that include expanding the Federal Funding Accountability and Transparency Act of 2006 (FFATA) to require the disclosure of direct Federal agency expenditures and information that links ``Federal . . . spending information to programs of Federal agencies to enable taxpayers and policy makers to track Federal spending more effectively.'' Public Law 113-101, 2(1). FFATA, as amended by the DATA Act, requires the Secretary of the Treasury (Treasury) and the Director of the Office of Management and Budget (OMB), in consultation with the heads of Federal agencies, to ``establish Government-wide financial data standards for any Federal funds made available to or expended by Federal agencies and entities receiving Federal funds.'' 31 U.S.C. 6101, note, Sec. 4(a)(1). Treasury and OMB shall consult with public and private stakeholders in establishing the Government-wide financial data standards (data standards). 31 U.S.C. 6101, note, 4(d). The DATA Act provides that Treasury and OMB shall issue guidance to Federal agencies on the established data standards no later than one year after DATA Act enactment, i.e., by May 9, 2015. Under this Notice, Treasury asks for input from public and private stakeholders on several data standards topics and questions, specifically on data exchange, to better ensure the data standards to be established by Treasury and OMB are informed and useful, and to ensure compliance with DATA Act consultation requirements. Treasury will share all input or information received with OMB to ensure the proper establishment of data standards by Treasury and OMB, consistent with DATA Act requirements.
Proposed Collection; Comment Request for Regulation Project
Document Number: 2014-22988
Type: Notice
Date: 2014-09-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
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 take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13(44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an existing transfers by domestic corporations that are subject to section 367(a)(5); distributions by domestic corporations that are subject to section 1248(f).
Awards for Information Relating to Detecting Underpayments of Tax or Violations of the Internal Revenue Laws; Correction
Document Number: 2014-22952
Type: Rule
Date: 2014-09-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations (TD 9687) that were published in the Federal Register on Tuesday, August 12, 2014 (79 FR 47246). The final regulations provide comprehensive guidance for the award program authorized under Internal Revenue Code (Code) section 7623.
Awards for Information Relating to Detecting Underpayments of Tax or Violations of the Internal Revenue Laws; Correction
Document Number: 2014-22948
Type: Rule
Date: 2014-09-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations (TD 9687) that were published in the Federal Register on Tuesday, August 12, 2014 (79 FR 47246). The final regulations provide comprehensive guidance for the award program authorized under Internal Revenue Code (Code) section 7623.
Branded Prescription Drug Fee; Correction
Document Number: 2014-22930
Type: Rule
Date: 2014-09-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations, temporary regulations, and removal of temporary regulations (TD 9684) that were published in the Federal Register on Monday, July 28, 2014 (79 FR 43631). The final regulations provide guidance on the annual fee imposed on covered entities engaged in the business of manufacturing branded prescription drugs.
Branded Prescription Drug Fee; Correction
Document Number: 2014-22929
Type: Rule
Date: 2014-09-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to final regulations (TD 9684) that were published in the Federal Register on Monday, July 28, 2014 (79 FR 43631). The final regulations provide guidance on the annual fee imposed on covered entities engaged in the business of manufacturing branded prescription drugs.
Branded Prescription Drug Fee; Correction
Document Number: 2014-22928
Type: Proposed Rule
Date: 2014-09-26
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to a notice of proposed rulemaking by cross-reference to temporary regulations (REG-123286-14) that was published in the Federal Register on Monday, July 28, 2014 (79 FR 43699). The proposed regulations relate to the branded prescription drug fee. The proposed regulations modify the definition of controlled group for purposes of the branded prescription drug fee.
Regulatory Capital Rules: Regulatory Capital, Revisions to the Supplementary Leverage Ratio
Document Number: 2014-22083
Type: Rule
Date: 2014-09-26
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions, Federal Reserve System, Department of Treasury, Office of the Comptroller of the Currency
In May 2014, 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) (collectively, the agencies) issued a notice of proposed rulemaking (NPR or proposed rule) to revise the definition of the denominator of the supplementary leverage ratio (total leverage exposure) that the agencies adopted in July 2013 as part of comprehensive revisions to the agencies' regulatory capital rules (2013 revised capital rule). The agencies are adopting the proposed rule as final (final rule) with certain revisions and clarifications based on comments received on the proposed rule. The final rule revises total leverage exposure as defined in the 2013 revised capital rule to include the effective notional principal amount of credit derivatives and other similar instruments through which a banking organization provides credit protection (sold credit protection); modifies the calculation of total leverage exposure for derivative and repo-style transactions; and revises the credit conversion factors applied to certain off-balance sheet exposures. The final rule also changes the frequency with which certain components of the supplementary leverage ratio are calculated and establishes the public disclosure requirements of certain items associated with the supplementary leverage ratio. The final rule applies to all banks, savings associations, bank holding companies, and savings and loan holding companies (banking organizations) that are subject to the agencies' advanced approaches risk-based capital rules, as defined in the 2013 revised capital rule (advanced approaches banking organizations), including advanced approaches banking organizations that are subject to the enhanced supplementary leverage ratio standards that the agencies finalized in May 2014 (eSLR standards). Consistent with the 2013 revised capital rule, advanced approaches banking organizations will be required to disclose their supplementary leverage ratios beginning January 1, 2015, and will be required to comply with a minimum supplementary leverage ratio capital requirement of 3 percent and, as applicable, the eSLR standards beginning January 1, 2018.