Liquidity Risk Measurement Standards

Federal Register / Vol. 87, No. 89 / Monday, May 9, 2022 / Rules and Regulations 27483 9See 2 U.S.C. 1532(a). 10 12 U.S.C. 4802(a). 11 5 U.S.C. 801(a)(3). 12 5 U.S.C. 804(2). rule that includes a Federal mandate that may result in the expenditure by State, local, and tribal governments, in the aggregate, or by the private sector, of $100 million or more in any one year. However, the UMRA does not apply to final rules for which a general notice of proposed rulemaking was not published.9 Consistent with section 553(b)(B) of the APA, the OCC has determined for good cause that general notice and opportunity for public comment is unnecessary because the rule makes a technical change to update a physical mailing address for the OCC’s CAG and does not alter any substantive standard, and, therefore, the OCC is not issuing a notice of proposed rulemaking. Accordingly, the OCC has not prepared an economic analysis of the rule under the UMRA. F. Riegle Community Development and Regulatory Improvement Act of 1994 Pursuant to section 302(a) of the Riegle Community Development and Regulatory Improvement Act of 1994,10 in determining the effective date and administrative compliance requirements for new regulations that impose additional reporting, disclosure, or other requirements on insured depository institutions, the OCC must consider, consistent with the principles of safety and soundness and the public interest: (1) Any administrative burdens that the final rule places on depository institutions, including small depository institutions and customers of depository institutions, and (2) the benefits of the final rule. This final rule does not impose additional reporting, disclosure, or other requirements on an insured depository institution. Therefore, section 302(a) of the Riegle Community Development and Regulatory Improvement Act of 1994 does not apply to this final rule. G. The Congressional Review Act Before a rule can take effect, the Congressional Review Act (CRA), 5 U.S.C. 801 et seq., provides that the OCC must submit to Congress and to the Comptroller General the rule along with a report indicating whether it is a ‘‘major rule.’’ In general, if a rule is a ‘‘major rule,’’ the CRA provides that unless Congress enacts a joint resolution of disapproval, the rule takes effect the later of: (1) 60 Days after Congress receives the required report or publication of the rule in the Federal Register, whichever is later; or (2) the date the rule would otherwise take effect.11 The CRA defines a ‘‘major rule’’ as any rule that the Administrator of the Office of Information and Regulatory Affairs (OIRA) of the Office of Management and Budget finds has resulted in or is likely to result in (1) an annual effect on the economy of $100,000,000 or more; (2) a major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies, or geographic regions, or (3) a significant adverse effect on competition, employment, investment, productivity, innovation, or the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets.12 OIRA has determined that this final rule is not a major rule. As required by the CRA, the OCC will submit the final rule and other appropriate reports to Congress and the Government Accountability Office for review. List of Subjects in 12 CFR Part 14 Banks, banking, Consumer protection, Insurance, National banks, Reporting and recordkeeping requirements. Office of the Comptroller of the Currency For the reasons set out in the preamble, 12 CFR part 14 is amended as follows: PART 14—CONSUMER PROTECTION IN SALES OF INSURANCE ■ 1. The authority citation for part 14 continues to read as follows: Authority: 12 U.S.C. 1 et seq., 24(Seventh), 92, 93a, 1462a, 1463, 1464, 1818, 1831x, and 5412(b)(2)(B). ■ 2. Appendix A to part 14 is revised to read as follows: Appendix A to Part 14—Consumer Grievance Process Any consumer who believes that any bank, Federal savings association, or any other person selling, soliciting, advertising, or offering insurance products or annuities to the consumer at an office of the bank or Federal savings association, or on behalf of the bank or Federal savings association, has violated the requirements of this part should contact the Customer Assistance Group, Office of the Comptroller of the Currency, (800) 613–6743, P.O. Box 53570, Houston, TX 77052, or www.helpwithmybank.gov. Benjamin W. McDonough, Senior Deputy Comptroller and Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2022–09860 Filed 5–6–22; 8:45 am] BILLING CODE 4810–33–P FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Part 329 Liquidity Risk Measurement Standards CFR Correction This rule is being published by the Office of the Federal Register to correct an editorial or technical error that appeared in the most recent annual revision of the Code of Federal Regulations. In Title 12 of the Code of Federal Regulations, parts 300 to 346, revised as of January 1, 2022, make the following corrections: § 329.22 [Corrected] ■ 1. Amend § 329.22 in paragraphs (a)(2) introductory text, (a)(2)(ii), (a)(4), and (a)(5), by removing the text ‘‘’’ in its place wherever it appears.’’ wherever it appears. § 329.40 [Corrected] ■ 2. Amend § 329.40 in paragraph (a) by adding the words ‘‘An FDIC-supervised institution’’ to the beginning of the first sentence. [FR Doc. 2022–09989 Filed 5–6–22; 8:45 am] BILLING CODE 0099–10–P FARM CREDIT ADMINISTRATION 12 CFR Parts 611, 615, 620, 621, 628, and 630 RIN 3052–AD36 Implementation of the Current Expected Credit Losses Methodology for Allowances, Related Adjustments to the Tier 1/Tier 2 Capital Rule, and Conforming Amendments AGENCY: Farm Credit Administration. ACTION: Final rule. SUMMARY: The Farm Credit Administration (FCA or Agency) is amending certain regulations to address changes in U.S. generally accepted accounting principles (U.S. GAAP). These amendments modify FCA’s capital and other regulations, including certain regulatory disclosure requirements. DATES: The final rule is effective on January 1, 2023. FOR FURTHER INFORMATION CONTACT: Technical information: Ryan Leist, LeistR@fca.gov, Associate Director, Operations, Management, and Accounting Team, Corbin West, WestC@ fca.gov, Policy Analyst (capital markets), or Jeremy R. Edelstein, VerDate Sep<11>2014 18:28 May 06, 2022 Jkt 256001 PO 00000 Frm 00045 Fmt 4700 Sfmt 4700 E:\FR\FM\09MYR1.SGM 09MYR1 khammond on DSKJM1Z7X2PROD with RULES