65298 Federal Register / Vol. 83, No. 244 / Thursday, December 20, 2018 / Rules and Regulations 

D. Regulatory Flexibility Act 

The Regulatory Flexibility Act, 5 

U.S.C. 601 et seq., does not apply to this 

rule because, pursuant to 5 U.S.C. 

553(a)(2), issuance does not require 

notice and opportunity for public 

comment. Nonetheless, this rule will 

not have a significant economic impact 

on a substantial number of small 

entities. 

E. Executive Order 12866 

This rule is not a significant 

regulatory action pursuant to Executive 

Order 12866. 

List of Subjects in 31 CFR Part 270 

Records, availability of records and 

information, requests for records, 

Freedom of Information Act. 

Amendments to the Regulations 

PART 270—[REMOVED AND 

RESERVED] 

■ Accordingly, under the authority of 5 

U.S.C. 552, 31 CFR part 270 is removed 

and reserved. 

David A. Lebryk, 

Fiscal Assistant Secretary. 

[FR Doc. 2018–27546 Filed 12–19–18; 8:45 am] 

BILLING CODE 4810–AS–P 

DEPARTMENT OF THE TREASURY 

Fiscal Service 

31 CFR Parts 317 and 358 

Regulations Governing United States 

Securities 

AGENCY: Bureau of the Fiscal Service, 

Fiscal Service, Treasury. 

ACTION: Final rule. 

SUMMARY: The United States Department 

of the Treasury, Bureau of the Fiscal 

Service, is streamlining its securities 

regulations by removing regulations that 

are no longer necessary because they do 

not have any current or future 

applicability. 

DATES: Effective December 20, 2018. 

ADDRESSES: You can download this final 

rule at the following internet addresses: 

http://www.regulations.gov, http://

www.gpo.gov, or http://

www.fiscal.treasury.gov. 

FOR FURTHER INFORMATION CONTACT: Lisa 

Martin, Attorney-Advisor, Office of the 

Chief Counsel, (304) 480–8697. 

SUPPLEMENTARY INFORMATION: 

I. Background 

On February 24, 2017, the President 

issued Executive Order 13777, 

Enforcing the Regulatory Reform 

Agenda (82 FR 12285). E.O. 13777 

directed each agency to establish a 

Regulatory Reform Task Force. Each 

Regulatory Reform Task Force was 

directed to review existing regulations 

that: (i) Eliminate jobs, or inhibit job 

creation; (ii) are outdated, unnecessary, 

or ineffective; (iii) impose costs that 

exceed benefits; (iv) create a serious 

inconsistency or otherwise interfere 

with regulatory reform initiatives and 

policies; (v) are inconsistent with the 

requirements of the Information Quality 

Act (section 515 of the Treasury and 

General Government Appropriations 

Act of 2001) or OMB Information 

Quality Guidance issued pursuant to 

that provision; or (vi) derive from or 

implement Executive Orders or other 

Presidential directives that have been 

subsequently rescinded or substantially 

modified. 

II. Explanation of Provisions 

In this rulemaking, the Department of 

the Treasury (Treasury) is eliminating 

two categories of securities regulations 

that are no longer necessary. The first 

category, published at 31 CFR part 317, 

governs the manner in which an 

organization may qualify and act as an 

agent for the sale and issue of Series EE 

and Series I United States Savings 

Bonds. These regulations are 

unnecessary because Treasury stopped 

selling savings bonds at financial 

institutions in January 2012 and no 

longer issues savings bonds through 

issuing agents. The second category, 

published at 31 CFR part 358, governs 

the conversion of stripped bearer 

securities into book-entry securities that 

can be held in commercial book-entry 

accounts with brokers and financial 

institutions. These regulations are 

unnecessary because the last bearer 

security eligible for conversion was 

called in November 2006, and the 

conversion program has ended. 

Accordingly, the regulations in parts 

317 and 358 are being removed. 

III. Procedural Requirements 

A. Administrative Procedure Act (APA) 

Because this rule relates to United 

States securities, which are contracts 

between Treasury and the owner of the 

security, this rule falls within the 

contract exception to the APA at 5 

U.S.C. 553(a)(2). Notice and comment 

rulemaking is not required. 

B. Congressional Review Act (CRA) 

This rule is not a major rule pursuant 

to the CRA, 5 U.S.C. 801 et seq. It is not 

expected to lead to any of the results 

listed in 5 U.S.C. 804(2). This rule may 

take immediate effect after we submit a 

copy of it to Congress and the 

Comptroller General. 

C. Paperwork Reduction Act (PRA) 

There is no new collection of 

information contained in this final rule 

that would be subject to the PRA, 44 

U.S.C. 3501 et seq. Under the PRA, an 

agency may not conduct or sponsor, and 

a person is not required to respond to, 

a collection of information unless it 

displays a valid OMB control number. 

D. Regulatory Flexibility Act 

The Regulatory Flexibility Act, 5 

U.S.C. 601 et seq., does not apply to this 

rule because, pursuant to 5 U.S.C. 

553(a)(2), issuance does not require 

notice and opportunity for public 

comment. Nonetheless, this rule will 

not have a significant economic impact 

on a substantial number of small 

entities. 

E. Executive Order 12866 

This rule is not a significant 

regulatory action pursuant to Executive 

Order 12866. 

List of Subjects 

31 CFR Part 317 

Government securities, Savings 

bonds. 

31 CFR Part 358 

Government securities. 

Amendments to the Regulations 

Accordingly, under the authority of 

31 U.S.C. 3121, 31 CFR chapter II is 

amended as follows: 

PART 317—[REMOVED AND 

RESERVED] 

■ 1. Part 317 is removed and reserved. 

PART 358—[REMOVED AND 

RESERVED] 

■ 2. Part 358 is removed and reserved. 

David A. Lebryk, 

Fiscal Assistant Secretary. 

[FR Doc. 2018–27545 Filed 12–19–18; 8:45 am] 

BILLING CODE 4810–AS–P 


khammond on DSK30JT082PROD with RULES