Unknown. Final rule

2,690 words·~12 min read·/register/2021/12/08/2021-26568

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--- schema: federal-register doc_type: fedreg source_file: FR-2021-12-08.xml --- 86 233 Wednesday, December 8, 2021 Contents Agency Health Agency for Healthcare Research and Quality NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 69649-69651 2021-26561 Meetings, 69651 2021-26545 Consumer Financial Protection Bureau of Consumer Financial Protection RULES Facilitating the LIBOR Transition, 69716-69800 2021-25825 Census Bureau Census Bureau NOTICES Voting Rights Act Amendments, Determinations, 69611-69618 2021-26547 Centers Disease Centers for Disease Control and Prevention NOTICES Meetings:

Disease, Disability, and Injury Prevention and Control Special Emphasis Panel, 69651-69652 2021-26575 2021-26576 Civil Rights Civil Rights Commission NOTICES Meetings: South Dakota Advisory Committee, 69611 2021-26532 Coast Guard Coast Guard PROPOSED RULES Special Local Regulations: Sector Ohio Valley Annual and Recurring Special Local Regulations, Update, 69602-69607 2021-26486 Commerce Commerce Department See Census Bureau See International Trade Administration See National Oceanic and Atmospheric Administration NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals: Certification of Identity, 69618 2021-26557 Consumer Product Consumer Product Safety Commission NOTICES Meetings; Sunshine Act, 69633 2021-26631 Copyright Office Copyright Office, Library of Congress PROPOSED RULES Copyright Claims Board: Active Proceedings and Evidence, 69890-69917 2021-26058 Drug Drug Enforcement Administration NOTICES Decision and Order: Tamika Mayo, M.D., 69681-69685 2021-26533 Education Department Education Department PROPOSED RULES Meetings:

Negotiated Rulemaking Committee; Negotiator Nominations, 69607-69609 2021-26571 Energy Department Energy Department See Federal Energy Regulatory Commission Environmental Protection Environmental Protection Agency NOTICES Privacy Act; Systems of Records, 69639-69643 2021-26432 Federal Aviation Federal Aviation Administration RULES Airspace Designations and Reporting Points: Rogers Field, CA, 69581-69582 2021-26481 Airworthiness Directives: Daher Aerospace (Type Certificate Previously Held by SOCATA) Airplanes, 69579-69581 2021-26527 Federal Communications Federal Communications Commission PROPOSED RULES Resilient Networks;

Disruptions to Communications; Disruptions to Communications, 69609-69610 2021-26587 NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 69643 2021-26607 Federal Energy Federal Energy Regulatory Commission NOTICES Application: City of Abbeville, 69636-69637 2021-26581 Erie Boulevard Hydropower, L.P., 69638-69639 2021-26579 Combined Filings, 69635-69638 2021-26580 2021-26584 Initial Market-Based Rate Filings Including Requests for Blanket Section 204 Authorizations:

Indra Power Business DC, LLC, 69638 2021-26583 Institution of Section 206 Proceedings and Refund Effective Date: Seneca Generation, LLC, Yards Creek Energy, LLC, 69637 2021-26578 Request Under Blanket Authorization and Establishing Intervention and Protest Deadline: Florida Gas Transmission, LLC, 69633-69635 2021-26582 Federal Reserve Federal Reserve System RULES Federal Reserve Bank Capital Stock, 69578-69579 2021-26542 Reserve Requirements of Depository Institutions, 69577-69578 2021-26568 NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 69643-69648 2021-26325 2021-26598 Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 69648 2021-26574 Federal Trade Federal Trade Commission RULES Automotive Fuel Ratings, Certification and Posting, 69582-69583 2021-26558 Federal Transit Federal Transit Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 69712-69713 2021-26608 Financial Crimes Financial Crimes Enforcement Network PROPOSED RULES Anti-Money Laundering Regulations for Real Estate Transactions, 69589-69602 2021-26549 Beneficial Ownership Information Reporting Requirements, 69920-69974 2021-26548 Fish Fish and Wildlife Service NOTICES Incidental Take Permit Application;

Habitat Conservation Plan: Montana Department of Natural Resources Lazy-Swift Addition and Wolf Creek Land Exchange; Flathead and Lincoln Counties, MT, 69676-69677 2021-26564 Permit Application: Endangered and Threatened Species; Recovery, 69678-69679 2021-26566 Food and Drug Food and Drug Administration RULES Medical Devices; Exemption from Premarket Notification: Powered Patient Transport, All Other Powered Patient Transport, 69583-69586 2021-26636 NOTICES Investigational New Drug Application Submissions for Individualized Antisense Oligonucleotide Drug Products for Severely Debilitating or Life-Threatening Diseases:

Chemistry, Manufacturing, and Controls Recommendations, Guidance for Sponsor-Investigators; Draft Guidance for Industry; Availability, 69653-69655 2021-26454 Clinical Recommendations; Draft Guidance for Sponsor-Investigators; Availability, 69652-69653 2021-26453 Gulf Coast Ecosystem Restoration Council Gulf Coast Ecosystem Restoration Council NOTICES Senior Executive Service Performance Review Board Membership, 69649 2021-26585 Health and Human Health and Human Services Department See Agency for Healthcare Research and Quality See Centers for Disease Control and Prevention See Food and Drug Administration See Health Resources and Services Administration See National Institutes of Health NOTICES Meetings:

Health Information Technology Advisory Committee, 69658-69659 2021-26602 Health Resources Health Resources and Services Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: COVID-19 Provider Relief Programs Application and Attestation Portal, and Claims Reimbursement Submission Activities, 69657-69658 2021-26565 Environmental Information and Documentation, 69655 2021-26560 Rural Communities Opioid Response Program Performance Measures, 69655-69657 2021-26559 Homeland Homeland Security Department See Coast Guard See Transportation Security Administration See U.S.

Customs and Border Protection PROPOSED RULES Privacy Act; Implementation, 69587-69589 2021-26478 NOTICES Privacy Act; Matching Program, 69669-69670 2021-26572 Privacy Act; Systems of Records, 69663-69668 2021-26477 Housing Housing and Urban Development Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Energy Efficient Mortgages, 69672 2021-26555 Operating Fund Shortfall Program Financial Reporting and Monitoring, 69673 2021-26556 Privacy Act;

Systems of Records, 69673-69676 2021-26554 Interior Interior Department See Fish and Wildlife Service See Land Management Bureau International Trade Adm International Trade Administration NOTICES Antidumping or Countervailing Duty Investigations, Orders, or Reviews: Circular Welded Carbon Steel Pipes and Tubes from Thailand, 69620-69622 2021-26573 Large Residential Washers from Mexico, 69618-69619 2021-26553 Scope Rulings, 69619-69620 2021-26552 International Trade Com International Trade Commission NOTICES Investigations;

Determinations, Modifications, and Rulings, etc.: Certain Optical Enclosures, Components Thereof, and Products Containing the Same, 69680 2021-26541 Hot-Rolled Steel Flat Products from Turkey; Correction, 69680 2021-26539 Joint Joint Board for Enrollment of Actuaries NOTICES Meetings, 69681 2021-26535 Justice Department Justice Department See Drug Enforcement Administration RULES Registration Requirements under the Sex Offender Registration and Notification Act, 69856-69887 2021-26420 NOTICES Proposed Consent Decree:

Clean Air Act, 69685-69686 2021-26526 Clean Water Act, 69686 2021-26577 Labor Department Labor Department See Occupational Safety and Health Administration Land Land Management Bureau NOTICES Plats of Survey: Idaho, 69679-69680 2021-26600 Library Library of Congress See Copyright Office, Library of Congress Maritime Maritime Administration NOTICES Coastwise Endorsement Eligibility Determination for a Foreign-built Vessel: IT'S ENOUGH (Motor), 69713-69714 2021-26550 National Foundation National Foundation on the Arts and the Humanities RULES Claims Collection; correction, 69586 2021-26606 National Institute National Institutes of Health NOTICES Meetings:

Center for Scientific Review, 69659 2021-26524 National Cancer Institute, 69660-69661 2021-26593 National Center for Complementary and Integrative Health, 69659 2021-26592 National Institute on Deafness and Other Communication Disorders, 69661 2021-26591 National Library of Medicine, 69659-69660 2021-26523 National Oceanic National Oceanic and Atmospheric Administration NOTICES Meetings: Pacific Fishery Management Council, 69626-69627 2021-26569 Permit Application: Marine Mammals;

File No. 25900, 69622 2021-26563 Marine Mammals; File No. 26024, 69632-69633 2021-26537 Takes of Marine Mammals Incidental to Specified Activities: Commercial Fishing Operations; Permits, 69627-69632 2021-26536 Taking and Importing Marine Mammals: Incidental to Geophysical Surveys Related to Oil and Gas Activities in the Gulf of Mexico, 69622-69626 2021-26601 Nuclear Regulatory Nuclear Regulatory Commission NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals:

Insider Threat Program for Licensees and Others Requiring Access to Classified Information, 69686-69687 2021-26594 Occupational Safety Health Adm Occupational Safety and Health Administration RULES COVID-19 Vaccination and Testing: Emergency Temporary Standard, 69586 C1-2021-26268 Presidential Documents Presidential Documents PROCLAMATIONS Special Observances: National Pearl Harbor Remembrance Day (Proc. 10319), 69575-69576 2021-26695 Securities Securities and Exchange Commission PROPOSED RULES Reporting of Securities Loans, 69802-69853 2021-25739 NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 69695-69697 2021-26595 2021-26596 Application: Apollo Investment Corporation, et al., 69703-69712 2021-26597 Self-Regulatory Organizations; Proposed Rule Changes: ICE Clear Credit, LLC, 69699-69703 2021-26530 MEMX, LLC, 69697-69699 2021-26529 National Securities Clearing Corp., 69687-69695 2021-26531 Transportation Department Transportation Department See Federal Aviation Administration See Federal Transit Administration See Maritime Administration Security Transportation Security Administration NOTICES Enforcement Actions Summary, 69670-69672 2021-26534 Treasury Treasury Department See Financial Crimes Enforcement Network NOTICES Survey of United States Ownership of Foreign Securities, 69714 2021-26589 Customs U.S.

Customs and Border Protection NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Trusted Traveler Programs and United States APEC Business Travel Card, 69661-69663 2021-26599 Separate Parts In This Issue Part II Bureau of Consumer Financial Protection, 69716-69800 2021-25825 Part III Securities and Exchange Commission, 69802-69853 2021-25739 Part IV Justice Department, 69856-69887 2021-26420 Part V Library of Congress, Copyright Office, Library of Congress, 69890-69917 2021-26058 Part VI Treasury Department, Financial Crimes Enforcement Network, 69920-69974 2021-26548 Reader Aids Consult the Reader Aids section at the end of this issue for phone numbers, online resources, finding aids, and notice of recently enacted public laws.

To subscribe to the Federal Register Table of Contents electronic mailing list, go to https://public.govdelivery.com/accounts/USGPOOFR/subscriber/new, enter your e-mail address, then follow the instructions to join, leave, or manage your subscription. 86 233 Wednesday, December 8, 2021 Rules and Regulations FEDERAL RESERVE SYSTEM 12 CFR Part 204 [Regulation D; Docket No. R-1762] RIN 7100-AG 24 Reserve Requirements of Depository Institutions AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Final rule. SUMMARY: The Board is amending Regulation D, Reserve Requirements of Depository Institutions, to reflect the annual indexing of the reserve requirement exemption amount and the low reserve tranche for 2022. The annual indexation of these amounts is required notwithstanding the Board's action in March 2020 setting all reserve requirement ratios to zero. The Regulation D amendments set the reserve requirement exemption amount for 2022 at $32.4 million (increased from $21.1 million in 2021) and the amount of the low reserve tranche at $640.6 million (increased from $182.9 million in 2021).

The adjustments to both of these amounts are derived using statutory formulas specified in the Federal Reserve Act (the “Act”). The increases in the exemption amount and low reserve tranche for 2022 are larger than in previous years, primarily reflecting the one-time effects of the Regulation D amendments that eliminated the six convenient transfer limit from the definition of a savings deposit and recognized savings deposits as a type of transaction account. The annual indexation of the reserve requirement exemption amount and low reserve tranche, though required by statute, will not affect depository institutions' reserve requirements, which will remain zero.

DATES: Effective January 7, 2022. *Compliance dates:* The new low reserve tranche and reserve requirement exemption amount will apply beginning January 1, 2022. FOR FURTHER INFORMATION CONTACT: Sophia H. Allison, Senior Special Counsel (202/452-3565), Kristen Payne, Lead Financial Institution and Policy Analyst (202/452-2872), or Francis A. Martinez, Lead Financial Institution and Policy Analyst (202/245-4217), Division of Monetary Affairs; Board of Governors of the Federal Reserve System, 20th and C Streets NW, Washington, DC 20551.

SUPPLEMENTARY INFORMATION: Section 19(b)(2) of the Act (12 U.S.C. 461(b)(2)) requires each depository institution to maintain reserves against its transaction accounts and nonpersonal time deposits, as prescribed by Board regulations, for the purpose of implementing monetary policy. The Board's actions with respect to this provision is discussed below. I. Reserve Requirements Section 19(b) of the Act authorizes different ranges of reserve requirement ratios depending on the amount of transaction account balances at a depository institution.

Section 19(b)(11)(A) of the Act (12 U.S.C. 461(b)(11)(A)) provides that a zero percent reserve requirement ratio shall apply at each depository institution to total reservable liabilities that do not exceed a certain amount, known as the reserve requirement exemption amount. Section 19(b)(11)(B) provides that, before December 31 of each year, the Board shall issue a regulation adjusting the reserve requirement exemption amount for the next calendar year if total reservable liabilities held at all depository institutions increase from one year to the next.

No adjustment is made to the reserve requirement exemption amount if total reservable liabilities held at all depository institutions should decrease during the applicable time period. The Act requires the percentage increase in the reserve requirement exemption amount to be 80 percent of the increase in total reservable liabilities of all depository institutions over the one-year period that ends on the June 30 prior to the adjustment. Total reservable liabilities of all depository institutions increased by 67.0 percent, from $10,901 billion to $18,204 billion, between June 30, 2020, and June 30, 2021.

Accordingly, the Board is amending Regulation D to set the reserve requirement exemption amount for 2022 at $32.4 million, an increase of $11.3 million from its level in 2021. 1 1 Consistent with Board practice, the low reserve tranche and reserve requirement exemption amounts have been rounded to the nearest $0.1 million. Pursuant to Section 19(b)(2) of the Act (12 U.S.C. 461(b)(2)), transaction account balances maintained at each depository institution over the reserve requirement exemption amount and up to a certain amount, known as the low reserve tranche, may be subject to a reserve requirement ratio of not more than 3 percent (and which may be zero).

Transaction account balances over the low reserve tranche may be subject to a reserve requirement ratio of not more than 14 percent (and which may be zero). Section 19(b)(2) also provides that, before December 31 of each year, the Board shall issue a regulation adjusting the low reserve tranche for the next calendar year. The Act requires the adjustment in the low reserve tranche to be 80 percent of the percentage increase or decrease in total transaction accounts of all depository institutions over the one-year period that ends on the June 30 prior to the adjustment.

Net transaction accounts of all depository institutions increased 312.8 percent, from $3,866 billion to $15,961 billion, between June 30, 2020, and June 30, 2021. Accordingly, the Board is amending Regulation D to set the low reserve tranche for net transaction accounts for 2022 at $640.6 million, an increase of $457.7 million from 2021. The new reserve requirement exemption amount and low reserve tranche will be effective for all depository institutions beginning January 1, 2022.

Effective March 26, 2020, the Board reduced reserve requirement ratios on all net transaction accounts to zero percent, eliminating reserve requirements for all depository institutions. The annual indexation of the reserve requirement exemption amount and the low reserve tranche for 2022 is required by statute but will not affect depository institutions' reserve requirements, which will remain zero. II. Regulatory Analysis Administrative Procedure Act The provisions of 5 U.S.C. 553(b) relating to notice of proposed rulemaking have not been followed in connection with the adoption of these amendments.

The amendments involve expected, ministerial adjustments prescribed by statute and by the Board's policy concerning reporting practices. The adjustments in the reserve requirement exemption amount and the low reserve tranche serve to reduce regulatory burdens on depository institutions. Accordingly, the Board finds good cause for determining, and so determines, that notice in accordance with 5 U.S.C. 553(b) is unnecessary. Regulatory Flexibility Act The Regulatory Flexibility Act

(RFA)does not apply to a rulemaking where a general notice of proposed rulemaking is not required. 2 As noted previously, the Board has determined that it is unnecessary to publish a general notice of proposed rulemaking for this final rule. Accordingly, the RFA's requirements relating to an initial and final regulatory flexibility analysis do not apply. 2 5 U.S.C. 603 and 604. Paperwork Reduction Act In accordance with the Paperwork Reduction Act of 1995, 3 the Board reviewed this final rule. No collections of information pursuant to the Paperwork Reduction Act are contained in the final rule. 3 44 U.S.C. 3506; 5 CFR 1320. List of Subjects in 12 CFR Part 204 Banks, banking, Reporting and recordkeeping requirements. Authority and Issuance For the reasons set forth in the preamble, the Board is amends 12 CFR part 204 as follows: PART 204—RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (REGULATION D) 1. The authority citation for part 204 continues to read as follows: Authority: 12 U.S.C. 248(a), 248(c), 461, 601, 611, and 3105. 2. Section 204.4 is amended by revising paragraph

(f)to read as follows: § 204.4 Computation of required reserves.

(f)For all depository institutions, Edge and Agreement corporations, and United States branches and agencies of foreign banks, required reserves are computed by applying the reserve requirement ratios in table 1 to this paragraph

(f)to net transaction accounts, nonpersonal time deposits, and Eurocurrency liabilities of the institution during the computation period. Table 1 to Paragraph

(f)Reservable liability Reserve requirement Net Transaction Accounts: $0 to reserve requirement exemption amount ($32.4 million) 0 percent of amount. Over reserve requirement exemption amount ($32.4 million) and up to low reserve tranche ($640.6 million) 0 percent of amount. Over low reserve tranche ($640.6 million) $0 plus 0 percent of amount over $640.6 million. Nonpersonal time deposits 0 percent. Eurocurrency liabilities 0 percent. By order of the Board of Governors of the Federal Reserve System, acting through the Director of the Division of Monetary Affairs under delegated authority, December 3, 2021. Ann E. Misback, Secretary of the Board. [FR Doc. 2021-26568 Filed 12-7-21; 8:45 am]

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