Unknown. Final rule; technical amendment; request for comments

4,295 words·~20 min read·/register/2026/03/17/2026-05160·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

--- schema: federal-register doc_type: fedreg source_file: FR-2026-03-17.xml --- 91 51 Tuesday, March 17, 2026 Contents Agency Toxic Agency for Toxic Substances and Disease Registry NOTICES Requests for Nominations: Substances To Be Evaluated for Toxicological Profile Development, 12804-12805 2026-05164 Agriculture Agriculture Department See Farm Service Agency See Food Safety and Inspection Service See The U.S. Codex Office Centers Disease Centers for Disease Control and Prevention NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals 12805-12810 2026-05194 2026-05195 2026-05196 Requests for Nominations: Advisory Committee on Breast Cancer in Young Women, 12807-12808 2026-05136 Centers Medicare Centers for Medicare & Medicaid Services NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 12810-12811 2026-05199 2026-05203 Civil Rights Civil Rights Commission NOTICES Hearings, Meetings, Proceedings, etc.: South Carolina Advisory Committee, 12754-12755 2026-05174 Coast Guard Coast Guard RULES Safety Zone:

San Pedro Channel and San Pedro Bay, CA, 12689-12690 2026-05216 Commerce Commerce Department See Economic Development Administration See Foreign-Trade Zones Board See International Trade Administration See National Oceanic and Atmospheric Administration Consumer Product Consumer Product Safety Commission NOTICES Proposed Settlement Agreement, Stipulation, Order, and Judgment, etc.: Shimano, Inc. and Shimano North America Holding, Inc., 12761-12764 2026-05135 Defense Department Defense Department NOTICES Arms Sales 12764-12785 2026-05138 2026-05139 2026-05140 2026-05141 2026-05142 2026-05143 2026-05144 2026-05145 2026-05146 2026-05147 Economic Development Economic Development Administration RULES Removing Certain Redundant Language From Regulations Governing Planning Investments and Comprehensive Economic Development Strategies, 12676-12677 2026-05228 Streamlining the Regulations Establishing General Terms and Conditions for the Economic Development Administration's Investment Assistance, 12675-12676 2026-05227 Streamlining the Requirements for Approved Projects for Public Works and Economic Development Investments, 12677-12678 2026-05229 Employee Benefits Employee Benefits Security Administration NOTICES Exemption:

Certain Prohibited Transaction Restrictions Involving ATT Inc. (together with ATT Inc.'s affiliates, ATT or the Applicant) Located in Dallas, TX, 12817-12827 2026-05165 Employment and Training Employment and Training Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: H-2B Foreign Labor Certification Program, 12827-12828 2026-05204 Energy Department Energy Department See Federal Energy Regulatory Commission Environmental Protection Environmental Protection Agency PROPOSED RULES National Emission Standards for Hazardous Air Pollutants:

Ethylene Oxide Emissions Standards for Sterilization Facilities Residual Risk and Technology Review Reconsideration, 12700-12736 2026-05167 Farm Service Farm Service Agency NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Power of Attorney, 12752-12753 2026-05148 Federal Aviation Federal Aviation Administration RULES Airspace Designations and Reporting Points: Zuni, NM, 12686-12687 2026-05219 Airworthiness Directives: Extra Aerobatic Aircraft GmbH Airplanes, 12684-12686 2026-05169 Special Conditions:

Airbus Helicopters Model EC175B Helicopters; Search and Rescue

(SAR)Modes, 12680-12684 2026-05207 Gulfstream Aerospace Corporation Model G300 Airplane; Therapeutic Oxygen System, 12678-12680 2026-05198 Standard Instrument Approach Procedures, and Takeoff Minimums and Obstacle Departure Procedures; Miscellaneous Amendments, 12687-12689 2026-05210 PROPOSED RULES Airworthiness Directives: Airbus SAS Airplanes, 12698-12700 2026-05223 MHI RJ Aviation ULC (Type Certificate Previously Held by Bombardier, Inc.) Airplanes, 12695-12698 2026-05224 Federal Communications Federal Communications Commission PROPOSED RULES Internet-Based Telecommunications Relay Service Modernization, 12736-12751 2026-05213 NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals 12796-12799 2026-05119 2026-05120 2026-05122 Federal Deposit Federal Deposit Insurance Corporation NOTICES Meetings; Sunshine Act, 12799 2026-05173 Federal Energy Federal Energy Regulatory Commission NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 12786-12788 2026-05159 Application: Blackstone Hydro Associates; Effectiveness of Withdrawal of Downstream Fishway Effectiveness Monitoring Plan, 12786 2026-05186 Gulf South Pipeline Co., LLC, 12792-12796 2026-05190 2026-05191 Combined Filings, 12789, 12791-12792 2026-05157 2026-05158 Effectiveness of Withdrawal of Operation Compliance Monitoring Plan: Blackstone Hydro Associates, 12792 2026-05187 Licenses; Exemptions, Applications, Amendments, etc.: Great Lake Hydro America, LLC; Revised Procedural Schedule, 12790 2026-05188 Meetings; Sunshine Act, 12790-12791 2026-05171 Request Under Blanket Authorization: Transcontinental Gas Pipe Line Co., LLC, 12788-12789 2026-05189 Virtual Scoping Session: Columbia Gas Transmission, LLC; Proposed Southeast Virginia Energy Storage Project, 12785-12786 2026-05185 Federal Highway Federal Highway Administration NOTICES Final Federal Agency Action: Proposed Highway Projects in Texas, 12891-12893 2026-05154 Federal Housing Finance Agency Federal Housing Finance Agency RULES Reinstating Grandfather Exceptions to Restrictions on Private Transfer Fee Covenants: Technical Amendment, 12673-12675 2026-05160 Federal Maritime Federal Maritime Commission NOTICES Agreements Filed, 12799 2026-05212 Federal Motor Federal Motor Carrier Safety Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Crash Causal Factors Program: Knowledge of Systems and Processes, 12896-12898 2026-05137 Exemption Application: Qualification of Drivers; Epilepsy and Seizure Disorders, 12893-12896, 12900-12902 2026-05180 2026-05184 Qualification of Drivers; Hearing, 12898-12900 2026-05181 Federal Reserve Federal Reserve System NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 12800-12802 2026-05172 2026-05175 Change in Bank Control: Acquisitions of Shares of a Bank or Bank Holding Company, 12801 2026-05200 Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 12799-12800 2026-05201 Privacy Act; Systems of Records, 12802-12804 2026-05156 Federal Transit Federal Transit Administration NOTICES Guidance: Fiscal Year 2026 Grants for Buses and Bus Facilities Program Project Selections, 12902-12904 2026-05152 Food Safety Food Safety and Inspection Service NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Public Health Information System, 12753-12754 2026-05155 Foreign Assets Foreign Assets Control Office NOTICES Sanctions Action, 12904-12907 2026-05114 Foreign Trade Foreign-Trade Zones Board NOTICES Proposed Production Activity: AuroraTe LLC; Foreign-Trade Zone 84, Houston, TX, 12755 2026-05149 Saint Lawrence Great Lakes St. Lawrence Seaway Development Corporation RULES Seaway Regulations and Rules: Periodic Update, Various Categories, 12690-12693 2026-05161 Tariff of Tolls, 12693-12694 2026-05162 Health and Human Health and Human Services Department See Agency for Toxic Substances and Disease Registry See Centers for Disease Control and Prevention See Centers for Medicare & Medicaid Services See Health Resources and Services Administration See National Institutes of Health Health Resources Health Resources and Services Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Ryan White HIV/AIDS Program: Allocations Report Form, 12811-12812 2026-05133 Homeland Homeland Security Department See Coast Guard Internal Revenue Internal Revenue Service NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Application for Enrollment, Application for Renewal of Enrollment, and Regulations Governing the Performance of Actuarial Services Under the Employee Retirement Income Security Act of 1972, 12907-12908 2026-05197 Application To Adopt, Change, or Retain a Tax Year, 12907 2026-05192 Average Area Purchase Price Safe Harbors and Nationwide Purchase Prices Under Section 143, 12908 2026-05193 Hearings, Meetings, Proceedings, etc.: Electronic Tax Administration Advisory Committee, 12908-12909 2026-05166 International Trade Adm International Trade Administration NOTICES Antidumping or Countervailing Duty Investigations, Orders, or Reviews: Certain Passenger Vehicle and Light Truck Tires From the People's Republic of China, 12755-12757 2026-05206 International Trade Com International Trade Commission NOTICES Investigations; Determinations, Modifications, and Rulings, etc.: Certain Urine Splash Guards and Components Thereof, 12815-12816 2026-05124 Crystalline Silicon Photovoltaic Cells Whether or Not Partially or Fully Assembled Into Other Products; Evaluation of the Effectiveness of Import Relief, 12814-12815 2026-05170 Labor Department Labor Department See Employee Benefits Security Administration See Employment and Training Administration National Institute National Institutes of Health NOTICES Hearings, Meetings, Proceedings, etc.: Center for Scientific Review, 12813-12814 2026-05209 National Institute of Environmental Health Sciences, 12812-12813 2026-05150 National Oceanic National Oceanic and Atmospheric Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Pribilof Islands, Taking for Subsistence Purposes, 12757-12758 2026-05211 Hearings, Meetings, Proceedings, etc.: Evaluation of Washington Coastal Management Program, 12758 2026-05168 New England Fishery Management Council, 12761 2026-05208 Permits; Applications, Issuances, etc.: Marine Mammals; File No. 29433, 12758-12759 2026-05178 Taking or Importing of Marine Mammals: Endangered Species Act; Incidental to Texas Parks and Wildlife Department's Fisheries-Independent Gill Net Surveys in Texas Waters, 12759-12761 2026-05183 National Science National Science Foundation NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 12828-12829 2026-05205 Nuclear Regulatory Nuclear Regulatory Commission NOTICES Facility Operating and Combined Licenses: Applications and Amendments Involving Proposed No Significant Hazards Considerations, etc., 12831-12843 2026-05121 Licenses; Exemptions, Applications, Amendments, etc., 12843 2026-05118 Licenses; Exemptions, Applications, Amendments, etc.: Holtec Big Rock Point, LLC; Big Rock Point Plant, 12829-12831 2026-05153 Postal Regulatory Postal Regulatory Commission NOTICES New Postal Products, 12843-12844 2026-05182 Postal Service Postal Service NOTICES International Product Change: Priority Mail Express International, Priority Mail International and First-Class Package International Service Agreements, 12844-12845 2026-05202 Presidential Documents Presidential Documents PROCLAMATIONS Special Observances: Women's History Month (Proc. 11017), 12911-12914 2026-05262 Securities Securities and Exchange Commission NOTICES Self-Regulatory Organizations; Proposed Rule Changes: 24X National Exchange LLC, 12845-12848 2026-05126 BOX Exchange LLC, 12851-12854 2026-05163 Cboe BYX Exchange, Inc., 12858-12862 2026-05125 LCH SA, 12869-12876 2026-05127 MEMX LLC, 12854-12858 2026-05130 Nasdaq PHLX LLC, 12862-12866 2026-05132 National Securities Clearing Corp., 12866-12869 2026-05128 NYSE Texas, Inc., 12849-12850 2026-05129 Surface Transportation Surface Transportation Board NOTICES Exemption: Construction and Operation; Union Pacific Railroad Co., Maricopa County, AZ, 12876-12883 2026-05179 Tennessee Tennessee Valley Authority NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 12883-12884 2026-05123 Codex The U.S. Codex Office NOTICES Hearings, Meetings, Proceedings, etc.: Codex Alimentarius Commission, Committee on Fish and Fishery Products, 12752 2026-05176 Trade Representative Trade Representative, Office of United States NOTICES Initiation of Section 301 Investigations: Acts, Policies, and Practices of Certain Economies Relating to Structural Excess Capacity and Production in Manufacturing Sectors, 12886-12891 2026-05214 Acts, Policies, and Practices of Various Economies Related to the Failure To Impose and Effectively Enforce a Prohibition on the Importation of Goods Produced With Forced Labor, 12884-12886 2026-05151 Transportation Department Transportation Department See Federal Aviation Administration See Federal Highway Administration See Federal Motor Carrier Safety Administration See Federal Transit Administration See Great Lakes St. Lawrence Seaway Development Corporation Treasury Treasury Department See Foreign Assets Control Office See Internal Revenue Service Veteran Affairs Veterans Affairs Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Adaptive Sports Grant Application, 12909 2026-05177 Separate Parts In This Issue Part II Presidential Documents, 12911-12914 2026-05262 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. 91 51 Tuesday, March 17, 2026 Rules and Regulations FEDERAL HOUSING FINANCE AGENCY 12 CFR Part 1228 RIN 2590-AB61 Amendment Reinstating “Grandfather” Exceptions to Restrictions on Private Transfer Fee Covenants AGENCY: Federal Housing Finance Agency. ACTION: Final rule; technical amendment; request for comments. SUMMARY: The Federal Housing Finance Agency

(FHFA)is making a technical amendment to its Private Transfer Fee Covenants

(PTFC)Regulation. The PTFC Regulation restricts FHFA's regulated entities—the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, the Enterprises), and the Federal Home Loan Banks (Banks)—from purchasing, investing in, accepting as collateral, or otherwise dealing in mortgages on properties encumbered by certain types of PTFCs, or related securities, subject to certain exceptions. The technical amendment reinstates timing and transitional applicability (“grandfather”) exceptions that were removed by FHFA's 2024 amendments to the PTFC Regulation. The reinstated “grandfather” exceptions are applicable *nunc pro tunc* beginning July 16, 2012. DATES: *Effective date:* The final rule is effective March 17, 2026. *Applicable date:* Section 1228.3(a) is applicable beginning July 16, 2012. FOR FURTHER INFORMATION CONTACT: Sara L. Todd, Assistant General Counsel, Office of General Counsel (OGC),

(202)649-3527, *sara.todd@fhfa.gov,* Federal Housing Finance Agency, 400 Seventh Street SW, Washington, DC 20219. This is not a toll-free number. The mailing address is: Federal Housing Finance Agency, Fourth Floor, 400 Seventh Street SW, Washington, DC 20219. For TTY/TRS users with hearing and speech disabilities, dial 711 and ask to be connected to the contact number above. SUPPLEMENTARY INFORMATION: I. Background A. Regulatory History The PTFC Regulation was originally published on March 16, 2012 and became effective on July 16, 2012 (the 2012 Final Rule), 1 following issuance of a proposed rule on August 16, 2010. 2 The PTFC Regulation restricts FHFA's regulated entities—the Enterprises and the Banks—from purchasing, investing in, accepting as collateral, or otherwise dealing in mortgages on properties encumbered by certain types of PTFCs, or related securities, subject to certain exceptions. 3 1 77 FR 15566 (March 16, 2012). 2 75 FR 49932 (Aug. 16, 2010). 3 12 CFR part 1228. On September 26, 2023, FHFA published a proposed rule (the 2023 Proposed Rule) to amend the PTFC Regulation to add an exception to the restrictions for loans and related securities on properties with PTFCs if the loans meet the shared equity loan program requirements for Resale Restriction Programs (other than the 100 percent of area median income

(AMI)limit), in § 1282.34(d)(4)(i)(A) and (d)(4)(ii) of FHFA's Duty to Serve Regulation. 4 On March 12, 2024, FHFA published a final rule (the 2024 Final Rule) adopting the proposed amendments (with technical changes to improve clarity regarding the intent of the provisions). 5 The 2024 Final Rule became effective May 13, 2024. 4 88 FR 65827 (Sept. 26, 2023). 5 89 FR 17711 (March 12, 2024). The 2023 Proposed Rule also proposed removing the prospective application and effective date provisions from § 1228.3 of the PTFC Regulation, which included “grandfather” exceptions. The “grandfather” exceptions were for mortgages on properties encumbered by PTFCs if those PTFCs were created before February 8, 2011, or if those PTFCs were created on or after February 8, 2011 pursuant to an agreement entered into before February 8, 2011 applicable to land identified in the agreement, if the agreement was in settlement of litigation or approved by a government agency or body. The 2023 Proposed Rule also proposed omitting the provisions stating that the PTFC Regulation also applies to securities backed by mortgages to which the PTFC Regulation applies, and to securities issued after February 8, 2011 backed by revenue from private transfer fees, regardless of when the covenants were created. In addition, the 2023 Proposed Rule proposed omitting the statement expressly requiring the regulated entities to comply with the 2012 Final Rule not later than July 16, 2012. FHFA proposed these changes in the mistaken belief that the transitional “grandfather” exceptions were no longer necessary because the Enterprises and the Banks had been operating under the provisions of the PTFC Regulation since July 16, 2012, and the Enterprises subsequently had been operating under the terms of a regulatory waiver (the Enterprise Regulatory Waiver) since July 1, 2023. The 2023 Proposed Rule preamble solicited public comments on the proposed amendments, and FHFA received no specific comments on the proposed removal of the “grandfather” exceptions provision. Accordingly, FHFA did not include the provision in the 2024 Final Rule. The 2024 Final Rule also revised § 1228.3 to include the retrospective component of the Enterprise Regulatory Waiver by allowing the Enterprises to retain in their portfolios shared equity loans on properties with private transfer fees that were purchased or securitized by the Enterprises with promissory note dates prior to the effective date of the Enterprise Regulatory Waiver (July 1, 2023), regardless of whether the loans met the Duty to Serve shared equity loan program criteria for Resale Restriction Programs in 12 CFR 1282.34(d)(4)(i)(A) and (d)(4)(ii). B. Subsequent Input on Removal of the “Grandfather” Exceptions After the 2024 Final Rule was adopted, FHFA received informal communications regarding stakeholders who had relied upon the “grandfather” exceptions provision when they entered into an agreement during the transitional period contemplated by the 2012 Final Rule. The concerns indicated that, as a result of removal of the “grandfather” exceptions provision, any covenants, agreements, statutes, or other documents that were entered into or adopted while the 2012 Final Rule was in effect and that referred to § 1228.3 of the 2012 Final Rule no longer direct readers of those documents to the text of the “grandfather” exceptions provision. Thus, lenders, title insurance agents, or prospective purchasers might not be able to verify that the stakeholders' agreements and covenants fall within an exception created by the “grandfather” exceptions provision. The resulting inability to confirm the existence or applicability of an exception under the “grandfather” exceptions provision could result in a cloud on the title of a stakeholder who had relied upon that provision. II. Limitations on Applicability—Reinstatement of “Grandfather” Exceptions—§ 1228.3 FHFA agrees that the stakeholders' concerns warrant addressing. While the new version of § 1228.3 adopted in the 2024 Final Rule—which codified the retrospective component of the Enterprise Regulatory Waiver—is correct as written, the “grandfather” exceptions were deleted without thorough consideration of potential unintended consequences. Accordingly, this final rule makes a technical amendment to reinstate the deleted “grandfather” exceptions as § 1228.3(a), applicable *nunc pro tunc* beginning July 16, 2012, so that all prior and current components of the transitional and timing requirements of the PTFC Regulation are available for any stakeholder whose property meets the requirements. Availability and applicability of the “grandfather” exceptions is determined with reference to the operative dates specified in § 1228.3, rather than with reference to the effective dates of amendments to the PTFC Regulation, so that continuity of the “grandfather” exceptions is not affected by the temporary omission of the “grandfather” exceptions from the PTFC Regulation. The current heading for § 1228.3—“Limitation on applicability”—was changed in the 2024 Final Rule from the former heading—“Prospective application and effective date,” because the passage of time has altered the nature of the provision from prospective to identification of several limitations based upon dates that occurred in the past. The final rule revises the word “Limitation” in the heading to the plural “Limitations” to reflect that the timing aspects of the Enterprise Regulatory Waiver that were codified in the 2024 Final Rule, combined with the “grandfather” exceptions, establish multiple limitations. III. Administrative Procedure Act The Administrative Procedure Act (5 U.S.C. 551 *et seq.* )

(APA)generally requires public notice and comment before promulgation of regulations. *See* 5 U.S.C. 553(b). Unless notice or hearing is required by statute, however, the APA provides an exception “when the agency for good cause finds (and incorporates the finding and a brief statement of reasons therefor in the rules issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest.” 5 U.S.C. 553(b)(B). FHFA finds for good cause pursuant to 5 U.S.C. 553(b)(B) that the notice and comment procedure required by the APA is unnecessary and contrary to the public interest for this final rule because:

(i)the “grandfather” exceptions provision that is being reinstated is unchanged from the version that was subjected to notice and public comment previously;

(ii)the technical amendment is technical in nature, so no further comment should be necessary; and

(iii)expeditious correction of the omission is merited for the members of the public who relied on the deleted exceptions provision. IV. Consideration of Differences Between the Banks and the Enterprises When promulgating regulations relating to the Banks, section 1313(f) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended, requires the Director of FHFA to consider the differences between the Banks and the Enterprises with respect to: the Banks' cooperative ownership structure; mission of providing liquidity to members and housing associates; affordable housing and community development mission; capital structure; and joint and several liability. In developing the 2012 Final Rule, FHFA considered the differences between the Banks and the Enterprises as they related to the above factors and determined that the 2012 Final Rule was appropriate to the structure, operations, and execution of the mission of the Banks with respect to the five factors, and would not result in any inappropriate treatment of the Banks as compared to the Enterprises. In the preamble to the 2023 Proposed Rule, FHFA requested comments on whether differences related to the section 1313(f) factors should result in any additional or other revisions to that Proposed Rule. No commenter on the 2023 Proposed Rule recommended amending the PTFC Regulation to apply different criteria to the Banks or the Enterprises regarding removal of the “grandfather” exceptions or any other provisions in that Proposed Rule. In adopting the 2024 Final Rule, FHFA determined that the Rule was appropriate as it would have no impact on four of the five factors and could have a modest, positive impact on the fifth factor—the mission of providing liquidity to Bank members and housing associates. FHFA believes that this final rule is appropriate because it would have no effects that were not considered by FHFA in developing the 2012 Final Rule and the 2024 Final Rule. Accordingly, FHFA's section 1313(f) analyses for those Rules apply to this interim final rule as well, and, therefore, it is not necessary to conduct a new section 1313(f) analysis for this final rule. V. Regulatory Impact A. Paperwork Reduction Act This final rule does not contain any information collection requirement. Thus, it does not require approval of the Office of Management and Budget

(OMB)under the Paperwork Reduction Act (44 U.S.C. 3501 *et seq.* ). Therefore, FHFA has not submitted any information to OMB for review. B. Regulatory Flexibility Act The Regulatory Flexibility Act (5 U.S.C. 601 *et seq.* ) requires that a regulation that has a significant economic impact on a substantial number of small entities, small businesses, or small organizations must include an initial regulatory flexibility analysis describing the regulation's impact on small entities. FHFA need not undertake such an analysis if the agency has certified that the regulation will not have a significant economic impact on a substantial number of small entities. 5 U.S.C. 605(b). FHFA has considered the impact of this final rule under the Regulatory Flexibility Act and FHFA certifies that the final rule will not have a significant economic impact on a substantial number of small entities because it applies only to Fannie Mae, Freddie Mac, and the Banks, which are not small entities for purposes of the Regulatory Flexibility Act. C. Executive Order 12866, Regulatory Planning and Review Executive Order 12866 requires agencies to submit “significant regulatory actions” to the Office of Management and Budget, Office of Information and Regulatory Affairs

(OIRA)for review. FHFA has determined the final rule not to be a significant regulatory action for purposes of E.O. 12866. OMB has reviewed FHFA's economic impact analysis and has concurred in the determination that this final rule is not a significant regulatory action and does not require OMB coordination and review under E.O. 12866. D. Executive Order 13563: Improving Regulation and Regulatory Review Executive Order 13563 directs agencies to analyze regulations that are “outmoded, ineffective, insufficient, or excessively burdensome, and to modify, streamline, expand, or repeal them in accordance with what has been learned.” Executive Order 13563 also directs that, where relevant, feasible, and consistent with regulatory objectives, and to the extent permitted by law, agencies are to identify and consider regulatory approaches that reduce burdens and maintain flexibility and freedom of choice for the public. FHFA has developed this final rule in a manner consistent with these requirements. E. Executive Order 14192: Unleashing Prosperity Through Deregulation Executive Order 14192 requires that for each new regulation issued, at least 10 existing regulations be identified for elimination. Executive Order 14192 also directs that any new incremental costs associated with new regulations shall, to the extent permitted by law, be offset by the elimination of existing costs associated with at least 10 prior regulations. FHFA's implementation of these requirements will be informed by M-25-20, Guidance Implementing Section 3 of Executive Order 14192, Titled “Unleashing Prosperity Through Deregulation” (March 26, 2025). This final rule is not subject to offset requirements under Executive Order 14192 because it is “not significant” and therefore does not meet the Executive Order's definition of a “regulatory action” subject to the Executive Order's requirements. F. Congressional Review Act In accordance with the Congressional Review Act

(CRA)(5 U.S.C. 801 *et seq.* ), FHFA has determined that this final rule is not a “major rule” and has verified this determination with OMB. Because it is not a “major rule,” FHFA is adopting the final rule without the 60-day delayed effective date generally prescribed under the CRA for major rules (5 U.S.C. 801(3)(A)). In addition, the delayed effective date required by the CRA does not apply to any rule for which an agency for good cause finds (and incorporates the finding and a brief statement of reasons therefor in the rule issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest (5 U.S.C. 808(2)). FHFA has adopted such findings for the reasons set forth in Section III. above. List of Subjects in 12 CFR Part 1228 Banks, Banking, Condominiums, Cooperatives, Federal Home Loan Banks, Government-sponsored enterprises, Investments, Loan programs—housing and community development, Low and moderate income housing, Mortgages, Nonprofit organizations, Real property acquisition, Securities. For the reasons stated in the Preamble, and under the authority of 12 U.S.C. 4526, FHFA is amending part 1228 of chapter XII of title 12 of the Code of Federal Regulations as follows: PART 1228—RESTRICTIONS ON THE ACQUISITION OF, OR TAKING SECURITY INTERESTS IN, MORTGAGES ON PROPERTIES ENCUMBERED BY CERTAIN PRIVATE TRANSFER FEE COVENANTS AND RELATED SECURITIES 1. The authority citation for part 1228 continues to read as follows: Authority: 12 U.S.C. 4511, 4513, 4526, 4565, 4616, 4617, 4631. 2. Revise § 1228.3 to read as follows: § 1228.3 Limitations on applicability.

(a)Beginning July 16, 2012, this part shall apply only to mortgages on properties encumbered by private transfer fee covenants if those covenants were created on or after February 8, 2011, except that this part shall not apply to mortgages on properties encumbered by private transfer fee covenants if those covenants were created pursuant to an agreement entered into before February 8, 2011 applicable to land that is identified in the agreement and the agreement was in settlement of litigation or approved by a government agency or body. This part also applies to securities backed by mortgages to which this part applies, and to securities issued after February 8, 2011 backed by revenue from private transfer fees, regardless of when the covenants were created.

(b)This part does not apply to shared equity loans, or related securities, with promissory note dates prior to July 1, 2023, regardless of whether the loans met the Duty to Serve shared equity loan program criteria for resale restriction programs in § 1282.34(d)(4)(i)(A) and (d)(4)(ii) of this chapter. Clinton Jones, General Counsel, Federal Housing Finance Agency. [FR Doc. 2026-05160 Filed 3-16-26; 8:45 am]

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