The Federal Register

FEDERAL RESERVE SYSTEM

Tue, Dec 26 2006 11:00:00 GMT

On September 25, 2006, 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), and the Office of Thrift Supervision (OTS) (collectively, the agencies) issued a joint notice of proposed rulemaking for public comment that proposed a new riskbased capital adequacy framework (Basel II NPR). The Basel II NPR would require some and permit other qualifying banks \1\ to use an internal ratingsbased approach to calculate regulatory credit risk capital requirements and advanced measurement approaches to calculate regulatory operational risk capital requirements. The Basel II NPR describes the qualifying criteria for banks required or seeking to operate under the proposed framework and the applicable riskbased capital requirements for banks that operate under the framework. The Basel II NPR comment period will end on January 23, 2007.
\1\ As used in this notice, the term ``bank'' includes banks,

FEDERAL RESERVE SYSTEM

Tue, Dec 26 2006 11:00:00 GMT

The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), and Office of Thrift Supervision (OTS) (collectively, the Agencies) are proposing revisions to the existing riskbased capital framework that would enhance its risk sensitivity without unduly increasing regulatory burden. These changes would apply to banks, bank holding companies, and savings associations (banking organizations). A banking organization would be able to elect to adopt these proposed revisions or remain subject to the Agencies' existing riskbased capital rules, unless it uses the Advanced Capital Adequacy Framework proposed in the notice of proposed rulemaking published on September 25, 2006 (Basel II NPR).

In this notice of proposed rulemaking (NPR or Basel IA), the Agencies are proposing to expand the number of risk weight categories, allow the use of external credit ratings to risk weight certain exposures, expand the r

FEDERAL RESERVE SYSTEM

Tue, Dec 26 2006 11:00:00 GMT

In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), the OCC, the Board, the FDIC, and the OTS (collectively, the agencies) may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, approved the agencies' publication for public comment of proposed new regulatory reporting requirements for banks \1\ that qualify for and adopt the Advanced Capital Adequacy Framework to calculate their riskbased capital requirement or banks that are in the parallel run stage of qualifying to adopt this proposed framework. This notice extends the comment period on this document for consistency with the extension of the comment period for the notice of proposed rulemaking on the Advanced Capital Adequacy Framework, as published elsewhere i

Additional Designation of Individual Pursuant to Executive Order 13224

Tue, Dec 26 2006 11:00:00 GMT

The Treasury Department's Office of Foreign Assets Control (``OFAC'') is publishing the name of one newlydesignated individual whose property and interests in property are blocked pursuant to Executive Order 13224 of September 23, 2001, ``Blocking Property and Prohibiting Transactions
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With Persons Who Commit, Threaten To Commit, or Support Terrorism.''

Application of Separate Limitations to Dividends From Noncontrolled Section 902 Corporations; Correction

Tue, Dec 26 2006 11:00:00 GMT

This document contains corrections to final and temporary regulations that were published in the Federal Register on Tuesday, April 25, 2006 (71 FR 24516) concerning the application of separate foreign tax credit limitations to dividends received from noncontrolled section 902 corporations under section 904(d)(4).

General Allocation and Accounting Regulations Under Section 141

Tue, Dec 26 2006 11:00:00 GMT

On September 26, 2006, on page 56072 of the Federal Register (71 FR 56072), a notice of proposed rulemaking and notice of public hearing announced that a public hearing relating to allocation and accounting of taxexempt bonds proceeds for purposes of the private activity bond restrictions will be held January 11, 2007, in the auditorium of the New Carrollton Federal Building, 5000 Ellin Road, Lanham, MD 20706. The location of the public hearing has changed.

TIPRA Amendments to Section 199

Tue, Dec 26 2006 11:00:00 GMT

On October 19, 2006, on page 61692 of the Federal Register (71 FR 61692), a notice of proposed rulemaking by crossreference to temporary regulations and notice of public hearing announced that a public hearing concerning the application of section 199, which provides a deduction for income attributable to domestic production activities will be held February 5, 2007 in the auditorium of the New Carrollton Federal Building, 5000 Ellin Road, Lanham, MD 20706. The location of the public hearing has changed.

Treatment of Payments in Lieu of Taxes Under Section 141

Tue, Dec 26 2006 11:00:00 GMT

On October 19, 2006, on page 61693 of the Federal Register (71 FR 61693), a notice of proposed rulemaking and notice of public hearing announced that a public hearing concerning applying the private security or payment test for State and local governmental issuers of taxexempt bonds will be held February 13, 2007 in the auditorium of the New Carrollton Federal Building, 5000 Ellin Road, Lanham, MD 20706. The location of the public hearing has changed.

Proposed Collection; Comment Request for Form 2587

Tue, Dec 26 2006 11:00:00 GMT

The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 10413 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 2587, Application for Special Enrollment Examination.

Proposed Collection; Comment Request for Deduction Guidance and Capitalization Expenditures

Tue, Dec 26 2006 11:00:00 GMT

The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 10413 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an existing regulation, REG12563801 (Final), (TD 9107) Guidance Regarding Deduction and Capitalization of Expenditures.

Proposed Collection; Comment Request for Tip Rate Determination Agreement (TRDA) for Most Industries

Tue, Dec 26 2006 11:00:00 GMT

The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 10413 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Tip Rate Determination Agreement (TRDA) for Most Industries.

Proposed Collection; Comment Request for Tip Reporting Alternative Commitment (TRAC) for Most Industries

Tue, Dec 26 2006 11:00:00 GMT

The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 10413 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Tip Reporting Alternative Commitment (TRAC) for Most Industries.

Proposed Collection; Comment Request for Tip Reporting Alternative Commitment (Hairstyling Industry)

Tue, Dec 26 2006 11:00:00 GMT

The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information
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collections, as required by the Paperwork Reduction Act of 1995, Public Law 10413 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Tip Reporting Alternative Commitment (Hairstyling Industry).