32980 Federal Register / Vol. 85, No. 105 / Monday, June 1, 2020 / Rules and Regulations
not deviations. Awards to foreign
entities are not subject to this section.
(2) A single-case deviation is a
deviation which applies to one financial
assistance transaction and one
applicant, recipient, or subrecipient
only.
(3) A class deviation is a deviation
which applies to more than one
financial assistance transaction,
applicant, recipient, or subrecipient.
(b) Conditions for approval. The DOE/
NNSA officials specified in paragraph
(c) of this section may authorize a
deviation only upon a written
determination that the deviation is—
(1) Necessary to achieve program
objectives;
(2) Necessary to conserve public
funds;
(3) Otherwise essential to the public
interest; or
(4) Necessary to achieve equity.
(c) Approval procedures. (1) A
deviation request must be in writing and
must be submitted to the responsible
DOE/NNSA Contracting Officer. An
applicant for a subaward or a
subrecipient shall submit any such
request through the recipient.
(2) Except as provided in paragraph
(c)(3) of this section—
(i) A single-case deviation may be
authorized by the responsible HCA.
(ii) A class deviation may be
authorized by the Director, Office of
Acquisition Management, for DOE
actions, and the Deputy Associate
Administrator for the Office of
Acquisition and Project Management for
NNSA, for NNSA actions, or designee.
(3) Whenever the approval of OMB,
other Federal agency, or other DOE/
NNSA office is required to authorize a
deviation, the proposed deviation must
be submitted to the Director, Office of
Acquisition Management, for DOE
actions, and the Deputy Associate
Administrator for the Office of
Acquisition and Project Management for
NNSA, for NNSA actions, or designee
for concurrence prior to submission to
the authorizing official.
(d) Notice. Whenever a request for a
class deviation is approved, DOE/NNSA
will identify this class deviation (as
applicable) in the Notice of Funding
Opportunity(s) that may be affected.
(e) Subawards. A recipient may use a
deviation in a subaward only with the
prior written approval of a DOE/NNSA
Contracting Officer.
[FR Doc. 2020–10577 Filed 5–29–20; 8:45 am]
BILLING CODE 6450–01–P
DEPARTMENT OF TREASURY
Office of the Comptroller of the
Currency
12 CFR Parts 3 and 6
[Docket No. OCC–2020–0013]
RIN 1557–AE85
FEDERAL RESERVE SYSTEM
12 CFR Parts 208 and 217
[Regulations H and Q; Docket No. R–1718]
RIN 7100–AF91
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 324
RIN 3064–AF44
Regulatory Capital Rule: Temporary
Exclusion of U.S. Treasury Securities
and Deposits at Federal Reserve
Banks From the Supplementary
Leverage Ratio for Depository
Institutions
AGENCY: Office of the Comptroller of the
Currency (OCC), Board of Governors of
the Federal Reserve System (Board), and
Federal Deposit Insurance Corporation
(FDIC).
ACTION: Interim final rule and request
for comment.
SUMMARY: In light of recent disruptions
in economic conditions caused by the
coronavirus disease 2019 and strains in
U.S. financial markets, the OCC, the
Board, and the FDIC (together, the
agencies) are issuing an interim final
rule that temporarily revises the
supplementary leverage ratio
calculation for depository institutions.
Under the interim final rule, any
depository institution subsidiary of a
U.S. global systemically important bank
holding company or any depository
institution subject to Category II or
Category III capital standards may elect
to exclude temporarily U.S. Treasury
securities and deposits at Federal
Reserve Banks from the supplementary
leverage ratio denominator.
Additionally, under this interim final
rule, any depository institution making
this election must request approval from
its primary Federal banking regulator
prior to making certain capital
distributions so long as the exclusion is
in effect. The interim final rule is
effective as of the date of Federal
Register publication and will remain in
effect through March 31, 2021. The
agencies are adopting this interim final
rule to allow depository institutions that
elect to opt into this treatment
additional flexibility to act as financial
intermediaries during this period of
financial disruption. The tier 1 leverage
ratio is not affected by this interim final
rule.
DATES:
Effective date: This rule is effective on
June 1, 2020.
Comment date: Comments on the
interim final rule must be received no
later than July 16, 2020.
ADDRESSES:
OCC: Commenters are encouraged to
submit comments through the Federal
eRulemaking Portal or email, if possible.
Please use the title ‘‘Regulatory Capital
Rule: Temporary Exclusion of U.S.
Treasury Securities and Deposits at
Federal Reserve Banks from the
Supplementary Leverage Ratio’’ to
facilitate the organization and
distribution of the comments. You may
submit comments by any of the
following methods:
• Federal eRulemaking Portal—
Regulations.gov Classic or
Regulations.gov Beta:
Regulations.gov Classic: Go to https://
www.regulations.gov/. Enter ‘‘Docket ID
OCC–2020–0013’’ in the Search Box and
click ‘‘Search.’’ Click on ‘‘Comment
Now’’ to submit public comments. For
help with submitting effective
comments please click on ‘‘View
Commenter’s Checklist.’’ Click on the
‘‘Help’’ tab on the Regulations.gov home
page to get information on using
Regulations.gov, including instructions
for submitting public comments.
Regulations.gov Beta: Go to https://
beta.regulations.gov/ or click ‘‘Visit
New Regulations.gov Site’’ from the
Regulations.gov Classic homepage.
Enter ‘‘Docket ID OCC–2020–0013’’ in
the Search Box and click ‘‘Search.’’
Public comments can be submitted via
the ‘‘Comment’’ box below the
displayed document information or by
clicking on the document title and then
clicking the ‘‘Comment’’ box on the top-
left side of the screen. For help with
submitting effective comments please
click on ‘‘Commenter’s Checklist.’’ For
assistance with the Regulations.gov Beta
site, please call (877) 378–5457 (toll
free) or (703) 454–9859 Monday–Friday,
9 a.m.–5 p.m. ET or email regulations@
erulemakinghelpdesk.com.
• Email: regs.comments@
occ.treas.gov.
• Mail: Chief Counsel’s Office,
Attention: Comment Processing, Office
of the Comptroller of the Currency, 400
7th Street SW, suite 3E–218,
Washington, DC 20219.
• Hand Delivery/Courier: 400 7th
Street, SW, suite 3E–218, Washington,
DC 20219.
VerDate Sep<11>2014 16:09 May 29, 2020 Jkt 250001 PO 00000 Frm 00004 Fmt 4700 Sfmt 4700 E:\FR\FM\01JNR1.SGM 01JNR1
jbell on DSKJLSW7X2PROD with RULES
not deviations. Awards to foreign
entities are not subject to this section.
(2) A single-case deviation is a
deviation which applies to one financial
assistance transaction and one
applicant, recipient, or subrecipient
only.
(3) A class deviation is a deviation
which applies to more than one
financial assistance transaction,
applicant, recipient, or subrecipient.
(b) Conditions for approval. The DOE/
NNSA officials specified in paragraph
(c) of this section may authorize a
deviation only upon a written
determination that the deviation is—
(1) Necessary to achieve program
objectives;
(2) Necessary to conserve public
funds;
(3) Otherwise essential to the public
interest; or
(4) Necessary to achieve equity.
(c) Approval procedures. (1) A
deviation request must be in writing and
must be submitted to the responsible
DOE/NNSA Contracting Officer. An
applicant for a subaward or a
subrecipient shall submit any such
request through the recipient.
(2) Except as provided in paragraph
(c)(3) of this section—
(i) A single-case deviation may be
authorized by the responsible HCA.
(ii) A class deviation may be
authorized by the Director, Office of
Acquisition Management, for DOE
actions, and the Deputy Associate
Administrator for the Office of
Acquisition and Project Management for
NNSA, for NNSA actions, or designee.
(3) Whenever the approval of OMB,
other Federal agency, or other DOE/
NNSA office is required to authorize a
deviation, the proposed deviation must
be submitted to the Director, Office of
Acquisition Management, for DOE
actions, and the Deputy Associate
Administrator for the Office of
Acquisition and Project Management for
NNSA, for NNSA actions, or designee
for concurrence prior to submission to
the authorizing official.
(d) Notice. Whenever a request for a
class deviation is approved, DOE/NNSA
will identify this class deviation (as
applicable) in the Notice of Funding
Opportunity(s) that may be affected.
(e) Subawards. A recipient may use a
deviation in a subaward only with the
prior written approval of a DOE/NNSA
Contracting Officer.
[FR Doc. 2020–10577 Filed 5–29–20; 8:45 am]
BILLING CODE 6450–01–P
DEPARTMENT OF TREASURY
Office of the Comptroller of the
Currency
12 CFR Parts 3 and 6
[Docket No. OCC–2020–0013]
RIN 1557–AE85
FEDERAL RESERVE SYSTEM
12 CFR Parts 208 and 217
[Regulations H and Q; Docket No. R–1718]
RIN 7100–AF91
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 324
RIN 3064–AF44
Regulatory Capital Rule: Temporary
Exclusion of U.S. Treasury Securities
and Deposits at Federal Reserve
Banks From the Supplementary
Leverage Ratio for Depository
Institutions
AGENCY: Office of the Comptroller of the
Currency (OCC), Board of Governors of
the Federal Reserve System (Board), and
Federal Deposit Insurance Corporation
(FDIC).
ACTION: Interim final rule and request
for comment.
SUMMARY: In light of recent disruptions
in economic conditions caused by the
coronavirus disease 2019 and strains in
U.S. financial markets, the OCC, the
Board, and the FDIC (together, the
agencies) are issuing an interim final
rule that temporarily revises the
supplementary leverage ratio
calculation for depository institutions.
Under the interim final rule, any
depository institution subsidiary of a
U.S. global systemically important bank
holding company or any depository
institution subject to Category II or
Category III capital standards may elect
to exclude temporarily U.S. Treasury
securities and deposits at Federal
Reserve Banks from the supplementary
leverage ratio denominator.
Additionally, under this interim final
rule, any depository institution making
this election must request approval from
its primary Federal banking regulator
prior to making certain capital
distributions so long as the exclusion is
in effect. The interim final rule is
effective as of the date of Federal
Register publication and will remain in
effect through March 31, 2021. The
agencies are adopting this interim final
rule to allow depository institutions that
elect to opt into this treatment
additional flexibility to act as financial
intermediaries during this period of
financial disruption. The tier 1 leverage
ratio is not affected by this interim final
rule.
DATES:
Effective date: This rule is effective on
June 1, 2020.
Comment date: Comments on the
interim final rule must be received no
later than July 16, 2020.
ADDRESSES:
OCC: Commenters are encouraged to
submit comments through the Federal
eRulemaking Portal or email, if possible.
Please use the title ‘‘Regulatory Capital
Rule: Temporary Exclusion of U.S.
Treasury Securities and Deposits at
Federal Reserve Banks from the
Supplementary Leverage Ratio’’ to
facilitate the organization and
distribution of the comments. You may
submit comments by any of the
following methods:
• Federal eRulemaking Portal—
Regulations.gov Classic or
Regulations.gov Beta:
Regulations.gov Classic: Go to https://
www.regulations.gov/. Enter ‘‘Docket ID
OCC–2020–0013’’ in the Search Box and
click ‘‘Search.’’ Click on ‘‘Comment
Now’’ to submit public comments. For
help with submitting effective
comments please click on ‘‘View
Commenter’s Checklist.’’ Click on the
‘‘Help’’ tab on the Regulations.gov home
page to get information on using
Regulations.gov, including instructions
for submitting public comments.
Regulations.gov Beta: Go to https://
beta.regulations.gov/ or click ‘‘Visit
New Regulations.gov Site’’ from the
Regulations.gov Classic homepage.
Enter ‘‘Docket ID OCC–2020–0013’’ in
the Search Box and click ‘‘Search.’’
Public comments can be submitted via
the ‘‘Comment’’ box below the
displayed document information or by
clicking on the document title and then
clicking the ‘‘Comment’’ box on the top-
left side of the screen. For help with
submitting effective comments please
click on ‘‘Commenter’s Checklist.’’ For
assistance with the Regulations.gov Beta
site, please call (877) 378–5457 (toll
free) or (703) 454–9859 Monday–Friday,
9 a.m.–5 p.m. ET or email regulations@
erulemakinghelpdesk.com.
• Email: regs.comments@
occ.treas.gov.
• Mail: Chief Counsel’s Office,
Attention: Comment Processing, Office
of the Comptroller of the Currency, 400
7th Street SW, suite 3E–218,
Washington, DC 20219.
• Hand Delivery/Courier: 400 7th
Street, SW, suite 3E–218, Washington,
DC 20219.
VerDate Sep<11>2014 16:09 May 29, 2020 Jkt 250001 PO 00000 Frm 00004 Fmt 4700 Sfmt 4700 E:\FR\FM\01JNR1.SGM 01JNR1
jbell on DSKJLSW7X2PROD with RULES
32981Federal Register / Vol. 85, No. 105 / Monday, June 1, 2020 / Rules and Regulations
• Fax: (571) 465–4326.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘Docket
ID OCC–2020–0013’’ in your comment.
In general, the OCC will enter all
comments received into the docket and
publish the comments on the
Regulations.gov website without
change, including any business or
personal information provided such as
name and address information, email
addresses, or phone numbers.
Comments received, including
attachments and other supporting
materials, are part of the public record
and subject to public disclosure. Do not
include any information in your
comment or supporting materials that
you consider confidential or
inappropriate for public disclosure.
You may review comments and other
related materials that pertain to this
rulemaking action by any of the
following methods:
• Viewing Comments Electronically—
Regulations.gov Classic or
Regulations.gov Beta:
Regulations.gov Classic: Go to https://
www.regulations.gov/. Enter ‘‘Docket ID
OCC–2020–0013’’ in the Search box and
click ‘‘Search.’’ Click on ‘‘Open Docket
Folder’’ on the right side of the screen.
Comments and supporting materials can
be viewed and filtered by clicking on
‘‘View all documents and comments in
this docket’’ and then using the filtering
tools on the left side of the screen. Click
on the ‘‘Help’’ tab on the
Regulations.gov home page to get
information on using Regulations.gov.
The docket may be viewed after the
close of the comment period in the same
manner as during the comment period.
Regulations.gov Beta: Go to https://
beta.regulations.gov/ or click ‘‘Visit
New Regulations.gov Site’’ from the
Regulations.gov Classic homepage.
Enter ‘‘Docket ID OCC–2020–0013’’ in
the Search Box and click ‘‘Search.’’
Click on the ‘‘Comments’’ tab.
Comments can be viewed and filtered
by clicking on the ‘‘Sort By’’ drop-down
on the right side of the screen or the
‘‘Refine Results’’ options on the left side
of the screen. Supporting materials can
be viewed by clicking on the
‘‘Documents’’ tab and filtered by
clicking on the ‘‘Sort By’’ drop-down on
the right side of the screen or the
‘‘Refine Results’’ options on the left side
of the screen.’’ For assistance with the
Regulations.gov Beta site, please call
(877) 378–5457 (toll free) or (703) 454–
9859 Monday–Friday, 9 a.m.–5 p.m. ET
or email regulations@
erulemakinghelpdesk.com.
The docket may be viewed after the
close of the comment period in the same
manner as during the comment period.
Board: You may submit comments,
identified by Docket No. R–1718; RIN
7100–AF91, by any of the following
methods:
• Agency website: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at
http://www.federalreserve.gov/apps/
foia/proposedregs.aspx.
• Email: regs.comments@
federalreserve.gov. Include docket and
RIN numbers in the subject line of the
message.
• FAX: (202) 452–3819 or (202) 452–
3102.
• Mail: Ann E. Misback, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW, Washington,
DC 20551.
All public comments will be made
available on the Board’s website at
http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm as
submitted, unless modified for technical
reasons or to remove personally
identifiable information at the
commenter’s request. Public comments
may also be viewed electronically or in
paper in Room 146, 1709 New York
Avenue NW, Washington, DC 20006,
between 9:00 a.m. and 5:00 p.m. on
weekdays. For security reasons, the
Board requires that visitors make an
appointment to inspect comments. You
may do so by calling (202) 452–3684.
FDIC: You may submit comments,
identified by RIN 3064–AF44, by any of
the following methods:
• Agency website: https://
www.fdic.gov/regulations/laws/federal.
Follow instructions for submitting
comments on the Agency website.
• Email: Comments@FDIC.gov.
Include ‘‘RIN 3064–AF44’’ on the
subject line of the message.
• Mail: Robert E. Feldman, Executive
Secretary, Attention: Comments/RIN
3064–AF44, Federal Deposit Insurance
Corporation, 550 17th Street NW,
Washington, DC 20429.
• Hand Delivery/Courier: Comments
may be hand delivered to the guard
station at the rear of the 550 17th Street
building (located on F Street) on
business days between 7 a.m. and 5 p.m.
All comments received must include the
agency name (FDIC) and RIN 3064–
AF44 and will be posted without change
to https://www.fdic.gov/regulations/
laws/federal, including any personal
information provided.
FOR FURTHER INFORMATION CONTACT:
OCC: Margot Schwadron, Director, or
Venus Fan, Risk Expert, Capital and
Regulatory Policy, (202) 649–6370; or
Carl Kaminski, Special Counsel, or
Chris Rafferty, Senior Attorney, Chief
Counsel’s Office, (202) 649–5490, for
persons who are deaf or hearing
impaired, TTY, (202) 649–5597, Office
of the Comptroller of the Currency, 400
7th Street SW, Washington, DC 20219.
Board: Anna Lee Hewko, Associate
Director, (202) 530–6360; Constance
Horsley, Deputy Associate Director,
(202) 452–5239; Elizabeth MacDonald,
Manager, (202) 475–6316; Sviatlana
Phelan, Lead Financial Institution
Policy Analyst, (202) 912–4306; or
Christopher Appel, Senior Financial
Institution Policy Analyst II, (202) 973–
6862, Division of Supervision and
Regulation; Benjamin McDonough,
Assistant General Counsel, (202) 452–
2036; Mark Buresh, Senior Counsel,
(202) 452–5270; Andrew Hartlage,
Counsel, (202) 452–6483; Jonah Kind,
Senior Attorney, (202) 452–2045; or
Jasmin Keskinen, Legal Assistant, (202)
475–6650, Legal Division, Board of
Governors of the Federal Reserve
System, 20th Street and Constitution
Avenue NW, Washington, DC 20551.
Users of Telecommunication Device for
Deaf (TDD) only, call (202) 263–4869.
FDIC: Bobby R. Bean, Associate
Director, bbean@fdic.gov; Benedetto
Bosco, Chief, Capital Policy Section,
bbosco@fdic.gov; Noah Cuttler, Senior
Policy Analyst, ncuttler@fdic.gov;
regulatorycapital@fdic.gov; Capital
Markets Branch, Division of Risk
Management Supervision, (202) 898–
6888; or Michael Phillips, Counsel,
mphillips@fdic.gov; Catherine Wood,
Counsel, cawood@fdic.gov; Francis Kuo,
Counsel, fkuo@fdic.gov; Supervision
and Legislation Branch, Legal Division,
Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC
20429. For the hearing impaired only,
Telecommunication Device for the Deaf
(TDD), (800) 925–4618.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Background
II. The Interim Final Rule
III. Impact Assessment
IV. Technical Amendments
V. Administrative Law Matters
A. Administrative Procedure Act
B. Congressional Review Act
C. Paperwork Reduction Act
D. Regulatory Flexibility Act
E. Riegle Community Development and
Regulatory Improvement Act of 1994
F. Use of Plain Language
G. Unfunded Mandates Act
I. Background
The spread of the coronavirus disease
2019 (COVID–19) has significantly and
adversely affected global financial
markets, including depository
institutions’ role as financial
intermediaries. In particular,
VerDate Sep<11>2014 16:09 May 29, 2020 Jkt 250001 PO 00000 Frm 00005 Fmt 4700 Sfmt 4700 E:\FR\FM\01JNR1.SGM 01JNR1
jbell on DSKJLSW7X2PROD with RULES
• Fax: (571) 465–4326.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘Docket
ID OCC–2020–0013’’ in your comment.
In general, the OCC will enter all
comments received into the docket and
publish the comments on the
Regulations.gov website without
change, including any business or
personal information provided such as
name and address information, email
addresses, or phone numbers.
Comments received, including
attachments and other supporting
materials, are part of the public record
and subject to public disclosure. Do not
include any information in your
comment or supporting materials that
you consider confidential or
inappropriate for public disclosure.
You may review comments and other
related materials that pertain to this
rulemaking action by any of the
following methods:
• Viewing Comments Electronically—
Regulations.gov Classic or
Regulations.gov Beta:
Regulations.gov Classic: Go to https://
www.regulations.gov/. Enter ‘‘Docket ID
OCC–2020–0013’’ in the Search box and
click ‘‘Search.’’ Click on ‘‘Open Docket
Folder’’ on the right side of the screen.
Comments and supporting materials can
be viewed and filtered by clicking on
‘‘View all documents and comments in
this docket’’ and then using the filtering
tools on the left side of the screen. Click
on the ‘‘Help’’ tab on the
Regulations.gov home page to get
information on using Regulations.gov.
The docket may be viewed after the
close of the comment period in the same
manner as during the comment period.
Regulations.gov Beta: Go to https://
beta.regulations.gov/ or click ‘‘Visit
New Regulations.gov Site’’ from the
Regulations.gov Classic homepage.
Enter ‘‘Docket ID OCC–2020–0013’’ in
the Search Box and click ‘‘Search.’’
Click on the ‘‘Comments’’ tab.
Comments can be viewed and filtered
by clicking on the ‘‘Sort By’’ drop-down
on the right side of the screen or the
‘‘Refine Results’’ options on the left side
of the screen. Supporting materials can
be viewed by clicking on the
‘‘Documents’’ tab and filtered by
clicking on the ‘‘Sort By’’ drop-down on
the right side of the screen or the
‘‘Refine Results’’ options on the left side
of the screen.’’ For assistance with the
Regulations.gov Beta site, please call
(877) 378–5457 (toll free) or (703) 454–
9859 Monday–Friday, 9 a.m.–5 p.m. ET
or email regulations@
erulemakinghelpdesk.com.
The docket may be viewed after the
close of the comment period in the same
manner as during the comment period.
Board: You may submit comments,
identified by Docket No. R–1718; RIN
7100–AF91, by any of the following
methods:
• Agency website: http://
www.federalreserve.gov. Follow the
instructions for submitting comments at
http://www.federalreserve.gov/apps/
foia/proposedregs.aspx.
• Email: regs.comments@
federalreserve.gov. Include docket and
RIN numbers in the subject line of the
message.
• FAX: (202) 452–3819 or (202) 452–
3102.
• Mail: Ann E. Misback, Secretary,
Board of Governors of the Federal
Reserve System, 20th Street and
Constitution Avenue NW, Washington,
DC 20551.
All public comments will be made
available on the Board’s website at
http://www.federalreserve.gov/
generalinfo/foia/ProposedRegs.cfm as
submitted, unless modified for technical
reasons or to remove personally
identifiable information at the
commenter’s request. Public comments
may also be viewed electronically or in
paper in Room 146, 1709 New York
Avenue NW, Washington, DC 20006,
between 9:00 a.m. and 5:00 p.m. on
weekdays. For security reasons, the
Board requires that visitors make an
appointment to inspect comments. You
may do so by calling (202) 452–3684.
FDIC: You may submit comments,
identified by RIN 3064–AF44, by any of
the following methods:
• Agency website: https://
www.fdic.gov/regulations/laws/federal.
Follow instructions for submitting
comments on the Agency website.
• Email: Comments@FDIC.gov.
Include ‘‘RIN 3064–AF44’’ on the
subject line of the message.
• Mail: Robert E. Feldman, Executive
Secretary, Attention: Comments/RIN
3064–AF44, Federal Deposit Insurance
Corporation, 550 17th Street NW,
Washington, DC 20429.
• Hand Delivery/Courier: Comments
may be hand delivered to the guard
station at the rear of the 550 17th Street
building (located on F Street) on
business days between 7 a.m. and 5 p.m.
All comments received must include the
agency name (FDIC) and RIN 3064–
AF44 and will be posted without change
to https://www.fdic.gov/regulations/
laws/federal, including any personal
information provided.
FOR FURTHER INFORMATION CONTACT:
OCC: Margot Schwadron, Director, or
Venus Fan, Risk Expert, Capital and
Regulatory Policy, (202) 649–6370; or
Carl Kaminski, Special Counsel, or
Chris Rafferty, Senior Attorney, Chief
Counsel’s Office, (202) 649–5490, for
persons who are deaf or hearing
impaired, TTY, (202) 649–5597, Office
of the Comptroller of the Currency, 400
7th Street SW, Washington, DC 20219.
Board: Anna Lee Hewko, Associate
Director, (202) 530–6360; Constance
Horsley, Deputy Associate Director,
(202) 452–5239; Elizabeth MacDonald,
Manager, (202) 475–6316; Sviatlana
Phelan, Lead Financial Institution
Policy Analyst, (202) 912–4306; or
Christopher Appel, Senior Financial
Institution Policy Analyst II, (202) 973–
6862, Division of Supervision and
Regulation; Benjamin McDonough,
Assistant General Counsel, (202) 452–
2036; Mark Buresh, Senior Counsel,
(202) 452–5270; Andrew Hartlage,
Counsel, (202) 452–6483; Jonah Kind,
Senior Attorney, (202) 452–2045; or
Jasmin Keskinen, Legal Assistant, (202)
475–6650, Legal Division, Board of
Governors of the Federal Reserve
System, 20th Street and Constitution
Avenue NW, Washington, DC 20551.
Users of Telecommunication Device for
Deaf (TDD) only, call (202) 263–4869.
FDIC: Bobby R. Bean, Associate
Director, bbean@fdic.gov; Benedetto
Bosco, Chief, Capital Policy Section,
bbosco@fdic.gov; Noah Cuttler, Senior
Policy Analyst, ncuttler@fdic.gov;
regulatorycapital@fdic.gov; Capital
Markets Branch, Division of Risk
Management Supervision, (202) 898–
6888; or Michael Phillips, Counsel,
mphillips@fdic.gov; Catherine Wood,
Counsel, cawood@fdic.gov; Francis Kuo,
Counsel, fkuo@fdic.gov; Supervision
and Legislation Branch, Legal Division,
Federal Deposit Insurance Corporation,
550 17th Street NW, Washington, DC
20429. For the hearing impaired only,
Telecommunication Device for the Deaf
(TDD), (800) 925–4618.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Background
II. The Interim Final Rule
III. Impact Assessment
IV. Technical Amendments
V. Administrative Law Matters
A. Administrative Procedure Act
B. Congressional Review Act
C. Paperwork Reduction Act
D. Regulatory Flexibility Act
E. Riegle Community Development and
Regulatory Improvement Act of 1994
F. Use of Plain Language
G. Unfunded Mandates Act
I. Background
The spread of the coronavirus disease
2019 (COVID–19) has significantly and
adversely affected global financial
markets, including depository
institutions’ role as financial
intermediaries. In particular,
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