Federal Register / Vol. 85, No. 244 / Friday, December 18, 2020 / Notices 82583 

complex institutions are no longer using 

a CECL transition. 

Specifically, the agencies propose to 

add a new Memorandum item 5 to 

Schedule RC–O, Other Data for Deposit 

Insurance Assessments, in the FFIEC 

031 and the FFIEC 041 Call Reports, 

only in order to quantify the applicable 

portions of the CECL transitional 

amounts added to retained earnings for 

regulatory capital purposes and 

attributable to the allowance for credit 

losses on loans and leases held for 

investment. The removal of this portion 

of the CECL transitional amounts is 

needed because, for large and highly 

complex institutions that have adopted 

CECL, the measure of reserves used in 

the scorecard is limited to the allowance 

for credit losses on loans and leases. 

To adjust the calculations of certain 

financial measures used to determine 

deposit insurance assessment rates for 

large and highly complex institutions, 

the FDIC would remove the amount 

reported in the new Schedule RC–O 

Memorandum item from scorecard 

measures that are calculated using the 

sum of Tier 1 capital and reserves and 

also from the loss severity measure in 

the scorecards. 

C. Timing 

Beginning with the June 30, 2021, Call 

Report, Schedule RC–O, Memorandum 

item 5, ‘‘Applicable portion of the CECL 

transitional amount or modified CECL 

transitional amount that has been added 

to retained earnings for regulatory 

capital purposes as of the report date 

and is attributable to loans and leases 

held for investment,’’ would be 

completed only by large and highly 

complex institutions that have adopted 

ASU 2016–13 and reported having a 

CECL transition election in effect as of 

the quarter-end report date. 

The specific wording of the caption 

for the proposed new Schedule RC–O 

Memorandum item discussed in this 

proposal and the numbering of this 

Memorandum item should be regarded 

as preliminary. 

III. Request for Comment 

Public comment is requested on all 

aspects of this joint notice. Comment is 

specifically invited on: 

(a) Whether the proposed revisions to 

the collections of information that are 

the subject of this notice are necessary 

for the proper performance of the 

agencies’ functions, including whether 

the information has practical utility; 

(b) The accuracy of the agencies’ 

estimates of the burden of the 

information collections as they are 

proposed to be revised, including the 

validity of the methodology and 

assumptions used; 

(c) Ways to enhance the quality, 

utility, and clarity of the information to 

be collected; 

(d) Ways to minimize the burden of 

information collections on respondents, 

including through the use of automated 

collection techniques or other forms of 

information technology; and 

(e) Estimates of capital or start-up 

costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Comments submitted in response to 

this joint notice will be shared among 

the agencies. 

Bao Nguyen, 

Principal Deputy Chief Counsel,Office of the 

Comptroller of the Currency.Board of 

Governors of the Federal Reserve System. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

Dated at Washington, DC, on or about 

December 14, 2020. 

Federal Deposit Insurance Corporation. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2020–27847 Filed 12–17–20; 8:45 am] 

BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P 

DEPARTMENT OF VETERANS 

AFFAIRS 

VA High Risk List Action Plan, 

Managing Risks, and Improving VA 

Health Care 

AGENCY: Department of Veterans Affairs. 

ACTION: Notice. 

SUMMARY: Notice is given that the 

Department of Veteran Affairs (VA) 

High Risk List Action Plan—Managing 

Risks and Improving VA Health Care 

report to the U.S. Government 

Accountability Office (GAO) is available 

for public review at https://www.va.gov/ 

performance/. The March 2020 

document is VA’s action plan for 

addressing the five broad management 

issues described by the GAO in its 2015 

High Risk Series Update, which include: 

policy and processes, oversight and 

accountability, information technology 

(IT), adequate training, and resource 

allocation. 

FOR FURTHER INFORMATION CONTACT: 

Karen Rasmussen, M.D., Director for 

GAO–OIG Accountability Liaison at 

(202) 461–6643 or 

VHA10BGOALGAOHRL@va.gov. 

SUPPLEMENTARY INFORMATION: VA’s 

commitment to addressing the 

management functions GAO highlighted 

in its report will ensure large initiatives 

are reinforced by sound policy; are 

implemented by staff with the right 

knowledge, skills, and abilities; receive 

the right IT support; identify and secure 

essential human and financial 

resources; have management oversight; 

and are accountable throughout 

planning, implementation, and 

reinforcement. To that end, VA’s 2020 

plan includes over 250 actions 

underway and other measures to 

monitor progress toward achieving the 

outcomes described in Chapter 2. The 

plan also identifies key transformational 

initiatives from the Veterans Health 

Administration’s Plan for 

Modernization that complement or 

contribute to resolution of the areas of 

concern (Chapter 1). 

Signing Authority 

The Secretary of Veterans Affairs, or 

designee, approved this document and 

authorized the undersigned to sign and 

submit the document to the Office of the 

Federal Register for publication 

electronically as an official document of 

the Department of Veterans Affairs. 

Brooks D. Tucker, Assistant Secretary 

for Congressional and Legislative 

Affairs, Performing the Delegable Duties 

of the Chief of Staff, Department of 

Veterans Affairs, approved this 

document on December 14, 2020, for 

publication. 

Jeffrey M. Martin, 

Assistant Director, Office of Regulation Policy 

& Management, Office of the Secretary, 

Department of Veterans Affairs. 

[FR Doc. 2020–27939 Filed 12–17–20; 8:45 am] 

BILLING CODE 8320–01–P 


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