Federal Financial Institutions Examination Council – Federal Register Recent Federal Regulation Documents
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Description of Office, Procedures, and Public Information
The Federal Financial Institutions Examination Council (FFIEC or Council) is adopting as a final rule the interim final rule published July 3, 2017. The interim final rule announced revisions and additions to the Council's information disclosure regulations under the Freedom of Information Act (FOIA Regulations). The interim final rule also replaced the interim final rule published on December 27, 2016. The revisions in the interim final rule implement recent statutory amendments to the FOIA that are mandated by the FOIA Improvement Act of 2016, as well as update the language of the Council's regulations to more closely mirror the language of the FOIA and to reflect the Council's current FOIA procedures.
Collection and Transmission of Annual AMC Registry Fees
The ASC is adopting a final rule to implement collection and transmission of appraisal management company (AMC) annual registry fees in the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd- Frank Act) to be applied by State appraiser certifying and licensing agencies that elect to register and supervise AMCs, pursuant to 12 U.S.C. 3353 and the regulations promulgated thereunder.
Appraisal Subcommittee; Proposed Revised Policy Statements
The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council requests public comment on a proposal to revise ASC Policy Statements (proposed Policy Statements). The proposed Policy Statements provide guidance to ensure State appraiser regulatory programs comply with Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended, and the rules promulgated thereunder. The proposed Policy Statements would supersede the current ASC Policy Statements. The ASC previously published the Proposed Revised Policy Statements on January 10, 2017, under Docket Number AS17-01. The comment period was scheduled to close on April 10, 2017. The ASC suspended the comment period in response to the White House Chief of Staff Memorandum titled Regulatory Freeze Pending Review, signed on January 20, 2017, pending review by the Office of Management and Budget (OMB). Technical edits for clarification have been made to the proposed Policy Statements since the initial publication, which are addressed below in Supplementary Information, section III, Statement-by-Statement.
Description of Office, Procedures, and Public Information; Correction
The Federal Financial Institutions Examination Council (FFIEC or Council) is correcting an interim final rule announcing revisions and additions to its information disclosure regulations under the Freedom of Information Act (FOIA Regulations). This interim final rule replaces the interim final rule published in the Federal Register on December 27, 2016. The Council invites comments on this interim final rule revising its regulations implementing the Freedom of Information Act (FOIA). These revisions implement recent statutory amendments to the FOIA that are mandated by the FOIA Improvement Act of 2016, as well as update the language of the Council's regulations to more closely mirror the language of the FOIA and to reflect the Council's current FOIA procedures. This interim final rule also corrects three typographical errors that occurred when the Council's FOIA Regulations were last amended by a final rule appearing in the Federal Register on November 22, 2010.
Appraisal Subcommittee; Proposed Revised Policy Statements
The Appraisal Subcommittee of the Federal Financial Institutions Examination Council (ASC) is suspending the public comment period for the Proposed Revised Policy Statements effective April 4, 2017. The ASC published the Proposed Revised Policy Statements on January 10, 2017, under Docket Number AS17-01. The comment period was scheduled to close on April 10, 2017. The suspension of the comment period will allow the President's appointees the opportunity to review and consider this action.
Joint Report to Congress: Economic Growth and Regulatory Paperwork Reduction Act
Pursuant to section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA), the Federal Financial Institutions Examination Council (FFIEC) is publishing a report entitled ``Joint Report to Congress, March 2017, Economic Growth and Regulatory Paperwork Reduction Act'' prepared by four of its constituent agencies: The Board of Governors of the Federal Reserve System (Board), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Association (NCUA).
Description of Office, Procedures, and Public Information
The Federal Financial Institutions Examination Council (FFIEC or Council), on behalf of its members, is amending its regulations to incorporate changes to the Freedom of Information Act (FOIA). This interim final rule reflects the required changes necessitated by the FOIA Improvement Act of 2016 (Act) consisting of extending the deadline for administrative appeals, including information on dispute resolution services, and amends parts of the fee determination. This interim final rule also corrects a duplicate entry that occurred in the 2010 update of the regulations. The Council has reviewed the proposed regulations and adopt them in this interim final rule.
Uniform Interagency Consumer Compliance Rating System
The Federal Financial Institutions Examination Council (FFIEC), on behalf of its members, is revising the Uniform Interagency Consumer Compliance Rating System, more commonly known as the CC Rating System. The agencies comprising the FFIEC are the Board of Governors of the Federal Reserve System (FRB), the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the State Liaison Committee (SLC) (Agencies). The FFIEC promotes compliance with federal consumer protection laws and regulations through each agency's supervisory and outreach programs. The CC Rating System revisions reflect the regulatory, examination (supervisory), technological, and market changes that have occurred in the years since the original rating system was established in 1980. The revisions are designed to better reflect current consumer compliance supervisory approaches and to more fully align the CC Rating System with the Agencies' current risk-based, tailored examination processes. The CC Rating System is being published after consideration of comments received from the public.
Notice of Availability of Home Mortgage Disclosure Act (HMDA) Filing Instructions Guides for HMDA Data Collected in 2017 and 2018; Correction
The FFIEC published a notice in the Federal Register on July 21, 2016, announcing the availability of the Filing Instructions Guide (FIG) for Home Mortgage Disclosure Act (HMDA) data collected in 2017 and the Filing Instructions Guide for Home Mortgage Disclosure Act data collected in 2018. The FIGs provide a compendium of resources to help covered financial institutions file with the Bureau of Consumer Financial Protection (Bureau) HMDA data collected in 2017 and 2018. This notice corrects the telephone number, listed in the FOR FURTHER INFORMATION CONTACT section, from (855) 438-2372 to (202) 435-9888.
Notice of Availability of Home Mortgage Disclosure Act (HMDA) Filing Instructions Guides for HMDA Data Collected in 2017 and 2018
The FFIEC announces the availability of the Filing Instructions Guide (FIG) for Home Mortgage Disclosure Act (HMDA) data collected in 2017 and the Filing Instructions Guide for Home Mortgage Disclosure Act data collected in 2018. The FIGs provide a compendium of resources to help covered financial institutions file with the Bureau of Consumer Financial Protection (Bureau) HMDA data collected in 2017 and 2018.
Appraisal Subcommittee; Notice of Proposed Rulemaking To Implement Collection and Transmission of Annual AMC Registry Fees
The Appraisal Subcommittee of the Federal Financial Institutions Examination Council (ASC) is proposing a rule pursuant to authority granted in the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) to implement collection and transmission of appraisal management company (AMC) annual registry fees by State appraiser certifying and licensing agencies that elect to register and supervise AMCs. The ASC requests comment on all aspects of this Notice.
Uniform Interagency Consumer Compliance Rating System
Pursuant to 12 U.S.C. 3301, the Federal Financial Institutions Examination Council (FFIEC), established in 1979, is a formal interagency body empowered to prescribe principles and standards for the federal examination of financial institutions and to make recommendations to promote consistency and coordination in the supervision of institutions. The six members of the FFIEC represent the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), the State Liaison Committee (SLC), and the Consumer Financial Protection Bureau (CFPB) (Agencies). The FFIEC promotes compliance with federal consumer protection laws and regulations through each agency's supervisory and outreach programs. Through compliance supervision, the FFIEC Agencies determine whether an institution is meeting its responsibility to comply with applicable requirements. The FFIEC requests comment on a proposal to revise the Uniform Interagency Consumer Compliance Rating System, more commonly known as the ``CC Rating System,'' to reflect the regulatory, examination (supervisory), technological, and market changes that have occurred in the years since the current rating system was established. The FFIEC is proposing to revise the existing CC Rating System to better reflect current consumer compliance supervisory approaches. The revisions are designed to more fully align the rating system with the FFIEC Agencies' current risk-based, tailored examination approaches. The proposed revisions to the CC Rating System were not developed to set new or higher supervisory expectations for financial institutions and their adoption will represent no additional regulatory burden. The proposed revisions emphasize the importance of institutions' compliance management systems (CMS), in particular, risk control processes designed to manage consumer compliance risk which are needed to support compliance and prevent consumer harm. The CC Rating System has provided a general framework for evaluating compliance factors in order to assign a consumer compliance rating to each federally regulated financial institution.\1\
Salt Lake City Area Integrated Projects and Colorado River Storage Project-Rate Order No. WAPA-169
The Deputy Secretary of Energy confirmed and approved Rate Order No. WAPA-169 and Rate Schedule SLIP-F10. Through this notice, the Western Area Power Administration (Western) places firm power rates for Western's Salt Lake City Area Integrated Projects (SLCA/IP) into effect on an interim basis. The Deputy Secretary also confirmed Rate Schedules SP-PTP8, SP-NW4, SP-NFT7, SP-SD4, SP-RS4, SP-EI4, SP-FR4, SP-SSR4, and SP-UU1. Through this notice, Western places firm and non-firm transmission and ancillary services formula rates on the Colorado River Storage Project (CRSP) transmission system into effect on an interim basis. The provisional rates will be in effect until the Federal Energy Regulatory Commission (FERC) confirms, approves, and places these into effect on a final basis or until these are replaced by other rates. The provisional rates will provide sufficient revenue to pay all annual costs, including interest expense, and repay required investments and irrigation aid within the allowable periods.
Record of Decision for Upper Great Plains Wind Energy Final Programmatic Environmental Impact Statement (DOE/EIS-0408)
The Western Area Power Administration (Western) and the U.S. Fish and Wildlife Service (Service), as joint lead agencies, issued the Upper Great Plains Wind Energy Final Programmatic Environmental Impact Statement (Final PEIS) (DOE/EIS-0408) on May 1, 2015. Western has decided to implement Alternative 1 as described in the Final PEIS and summarized in this Record of Decision (ROD). Alternative 1 was identified as both the agency preferred alternative and the environmentally preferred alternative.
Central Valley Project, California-Oregon Transmission Project, Pacific Alternating Current Intertie, and Information on the Path 15 Transmission Upgrade-Rate Order No. WAPA-173
The Western Area Power Administration (Western), a power marketing administration within the U.S. Department of Energy (DOE), proposes to extend the existing Central Valley Project power, transmission, and ancillary services formula rates, California-Oregon Transmission Project transmission formula rate, Pacific Alternating Current Intertie transmission formula rate, and third-party transmission service formula rate through September 30, 2019. The existing Rate Schedules CV-F13, CPP-2, CV-T3, CV-NWT5, COTP-T3, PACI- T3, CV-TPT7, CV-UUP1, CV-SPR4, CV-SUR4, CV-RFS4, CV-EID4, and CV-GID1 expire on September 30, 2016.
Pick-Sloan Missouri Basin Program-Eastern Division-Rate Order No. WAPA-170
The Deputy Secretary of Energy confirmed and approved Rate Order No. WAPA-170 and Rate Schedules WAUGP-ATRR, WAUGP-AS1, WAUW-AS3, WAUW-AS4, WAUW-AS5, WAUW-AS6 and WAUW-AS7. Through this notice, the Western Area Power Administration (Western), places formula transmission and ancillary services rates for Western's Pick-Sloan Missouri Basin ProgramEastern Division (P-SMBPED) into effect on an interim basis. The provisional rates will be in effect until the Federal Energy Regulatory Commission (FERC) confirms, approves, and places them into effect on a final basis, or until they are superseded. The provisional formula rates will provide sufficient revenue to pay all associated annual costs, including interest expense, and repay required investment within the allowable periods.
Boulder Canyon Project-Rate Order No. WAPA-171
This action extends the existing Boulder Canyon Project (BCP) rate-setting formula through September 30, 2020, and approves the base charge and rates for FY 2016. The existing Electric Service Rate Schedule, BCP-F8, is set to expire on September 30, 2015. The Electric Service Rate Schedule contains a rate-setting formula that is recalculated annually based on updated financial and sales data.
Central Arizona Project-Rate Order No. WAPA-172
The Western Area Power Administration (Western), a power marketing administration within the Department of Energy (DOE), is proposing an adjustment to the Central Arizona Project (CAP) transmission rates for firm point-to-point transmission service, non- firm point-to-point transmission service, and Network Integration Transmission Service (NITS) on the CAP 115/230-kilovolt (kV) transmission lines. Current rates, under Rate Schedules CAP-FT2, CAP- NFT2 and CAP-NITS2, expire December 31, 2015. Western is not proposing any changes to the existing rate-setting formula through December 31, 2020, but is proposing to adjust the existing rates to provide sufficient revenue to cover all annual costs, including interest expenses, and to repay required investment within the allowable period. Western is also proposing to begin charging for short-term transmission service on the Navajo (500-kV) portion of the CAP under Rate Schedule CAP-NFT3. Western currently markets excess transmission service from the Navajo (500-kV) portion of the CAP on a short-term (less than 12 months) basis at current CAP 115/230-kV rates under Western's Administrator's authority to set rates for short-term sales (Department of Energy Delegation Order No. 00-037.00A, ]1.5). Western will prepare and provide a brochure detailing information on the proposed rates. Proposed rates, under Rate Schedules CAP-FT3, CAP-NFT3, and CAP-NITS3, are scheduled to go into effect on January 1, 2016, and remain in effect through December 31, 2020. Publication of this Federal Register notice begins the formal process for the proposed rates.
Meeting of the Appraisal Subcommittee Advisory Committee for Development of Regulations
The Appraisal Subcommittee Advisory Committee for Development of Regulations (ASCAC or Committee) will meet in open session on Thursday, February 12, 2015, from 9:00 a.m. to 5:00 p.m. and Friday, February 13, 2015, from 9:00 a.m. to 5:00 p.m. All times are in the Eastern time zone. The primary purpose of this meeting is to continue discussion on potential recommendations to the ASC regarding Temporary Practice, National Registries (Appraisers and Appraisal Management Companies), Information Sharing and Enforcement. The final agenda will be posted on the ASC Web site at https://www.asc.gov.
Appraisal Subcommittee Notice of Meeting
In accordance with Section 1104 (b) of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended, notice is hereby given that the Appraisal Subcommittee (ASC) will meet in open session for its regular meeting: Location: Federal Reserve BoardInternational Square location, 1850 K Street NW., Washington, DC 20006. Date: November 12, 2014. Time: 10:30 a.m. Status: Open.
Meeting of the Appraisal Subcommittee Advisory Committee for Development of Regulations
The Appraisal Subcommittee Advisory Committee for Development of Regulations (ASCAC or Committee) will meet in open session on Wednesday, October 15, 2014, from 9:00 a.m. to 5:00 p.m. and Thursday, October 16, 2014, from 9:00 a.m. to 5:00 p.m. All times are in the Eastern time zone. The primary purpose of this meeting is to continue discussion on potential recommendations to the ASC regarding Temporary Practice, National Registries (Appraisers and Appraisal Management Companies), Information Sharing and Enforcement. The final agenda will be posted on the ASC Web site at https://www.asc.gov.
Meeting of the Appraisal Subcommittee Advisory Committee for Development of Regulations
The Appraisal Subcommittee Advisory Committee for Development of Regulations (ASCAC or Committee) will meet in open session on Tuesday, July 22, 2014 from 9:00 a.m. to 5:00 p.m. and Wednesday, July 23, 2014 from 9:00 a.m. to 5:00 p.m. All times are in the Eastern time zone. The primary purpose of this meeting is to continue discussion on potential recommendations to the ASC regarding Temporary Practice, National Registries (Appraisers and Appraisal Management Companies), Information Sharing and Enforcement. The final agenda will be posted on the ASC Web site at https://www.asc.gov.
Meeting of the Appraisal Subcommittee Advisory Committee for Development of Regulations
The Appraisal Subcommittee Advisory Committee for Development of Regulations (ASCAC or Committee) will meet in open session on Wednesday, April 16, 2014 from 9:00 a.m. to 5:00 p.m. and Thursday, April 17, 2014 from 9:00 a.m. to 1:00 p.m. All times are in the Eastern time zone. The primary purposes of this meeting are to approve the ASCAC Bylaws, set Committee objectives and priorities, discuss the reporting timeline for reporting to the Appraisal Subcommittee (ASC), and potential sanctions. The final agenda will be posted on the ASC Web site at https://www.asc.gov.
Appraisal Subcommittee; Rules of Operation; Amendment
The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council is amending the following section: Section 3.06(e) of the Rules of Operation, which addresses the scheduling of regular meetings of the ASC. As amended, the ASC will meet at least once every two months (bi-monthly) instead of monthly.
Social Media: Consumer Compliance Risk Management Guidance
The Federal Financial Institutions Examination Council (FFIEC), on behalf of its members, is issuing this final supervisory guidance entitled ``Social Media: Consumer Compliance Risk Management Guidance'' (Guidance). The Guidance is being published after consideration of comments received from the public. 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); the National Credit Union Administration (NCUA); and the Consumer Financial Protection Bureau (CFPB) (collectively, the Agencies) will use it as supervisory guidance for the institutions that they supervise, and the State Liaison Committee (SLC) of the FFIEC encourages state regulators to adopt the Guidance. Accordingly, financial institutions are expected to use the Guidance in their efforts to ensure that their policies and procedures provide oversight and controls commensurate with the risks posed by their involvement with social media.
Appraisal Subcommittee Meeting
In accordance with Section 1104(b) of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended, notice is hereby given that the Appraisal Subcommittee (ASC) will meet in closed session:
Appraisal Subcommittee Meeting
In accordance with Section 1104(b) of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended, notice is hereby given that the Appraisal Subcommittee (ASC) will meet in open session for its regular meeting:
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