Federal Register / Vol. 79, No. 138 / Friday, July 18, 2014 / Rules and Regulations 41883 

423(a)–(b), 902(a)(5), 1381, 1381a, 1383, and 

1383b). 

■ 4. In § 405.315, revise the second 

sentence in paragraph (e) to read as 

follows: 

§ 405.315 Time and place for a hearing 

before an administrative law judge. 

* * * * * 

(e) Pilot program. * * * These 

provisions will no longer be effective on 

August 10, 2015, unless we terminate 

them earlier or extend them beyond that 

date by notice of a final rule in the 

Federal Register. 

PART 416—SUPPLEMENTAL 

SECURITY INCOME FOR THE AGED, 

BLIND, AND DISABLED 

Subpart N—[Amended] 

■ 5. The authority citation for subpart N 

of part 416 continues to read as follows: 

Authority: Secs. 702(a)(5), 1631, and 1633 

of the Social Security Act (42 U.S.C. 

902(a)(5), 1383, and 1383b); sec. 202, Pub. L. 

108–203, 118 Stat. 509 (42 U.S.C. 902 note). 

■ 6. In § 416.1436, revise the second 

sentence in paragraph (h) to read as 

follows: 

§ 416.1436 Time and place for a hearing 

before an administrative law judge. 

* * * * * 

(h) Pilot program. * * * These 

provisions will no longer be effective on 

August 10, 2015, unless we terminate 

them earlier or extend them beyond that 

date by notice of a final rule in the 

Federal Register. 

[FR Doc. 2014–16782 Filed 7–17–14; 8:45 am] 

BILLING CODE 4191–02–P 

AGENCY FOR INTERNATIONAL 

DEVELOPMENT 

22 CFR Part 236 

Republic of Tunisia Loan Guarantees 

Issued Under the Further Continuing 

Appropriations Act, 2013—Standard 

Terms and Conditions 

AGENCY: Agency for International 

Development (USAID). 

ACTION: Final rule. 

SUMMARY: This regulation prescribes the 

procedures and standard terms and 

conditions applicable to loan guarantees 

to be issued for the benefit of the 

Republic of Tunisia pursuant to Title III 

of the Department of State, Foreign 

Operations, and Related Programs 

Appropriations Act, 2012, as applied to 

FY 2013 funding by section 1706(j) of 

the Further Continuing Appropriations 

Act, 2013. 

DATES: Effective July 17, 2014. 

FOR FURTHER INFORMATION CONTACT: 

Maryam Khosharay, Office of General 

Counsel, U.S. Agency for International 

Development, Washington, DC 20523– 

6601; tel. 202–712–1324, fax 202–216– 

3058. 

SUPPLEMENTARY INFORMATION: Pursuant 

to Title III of the Department of State, 

Foreign Operations, and Related 

Programs Appropriations Act, 2012 

(Div. I, Pub. L. 112–74), as applied to FY 

2013 funding by section 1706(j) of the 

Further Continuing Appropriations Act, 

2013 (Div. F, Pub. L. 113–6), the United 

States of America, acting through the 

U.S. Agency for International 

Development, may issue certain loan 

guarantees applicable to sums borrowed 

by Banque Centrale de Tunisie, acting 

on behalf of the Republic of Tunisia (the 

‘‘Borrower’’), not exceeding an aggregate 

total of U.S. $500 million in principal 

amount. Upon issuance, the loan 

guarantees shall ensure the Borrower’s 

repayment of 100% of principal and 

interest due under such loans and the 

full faith and credit of the United States 

of America shall be pledged for the full 

payment and performance of such 

guarantee obligations. 

This rulemaking document is not 

subject to rulemaking under 5 U.S.C. 

553 or to regulatory review under 

Executive Order 12866 because it 

involves a foreign affairs function of the 

United States. The provisions of the 

Paperwork Reduction Act (44 U.S.C. 

3501 et seq.) do not apply. 

List of Subjects in 22 CFR Part 236 

Foreign aid, Foreign relations, 

Guaranteed loans, Loan programsforeign relations. 

Authority and Issuance 

Accordingly, a new Part 236 is added 

to Title 22, Chapter II, of the Code of 

Federal Regulations, as follows: 

PART 236—REPUBLIC OF TUNISIA 

LOAN GUARANTEES ISSUED UNDER 

THE FURTHER CONTINUING 

APPROPRIATIONS ACT, 2014, DIV. F, 

PUBLIC LAW 113–6—STANDARD 

TERMS AND CONDITIONS 

Sec. 

236.1 Purpose. 

236.2 Definitions. 

236.3 The Guarantee. 

236.4 Guarantee eligibility. 

236.5 Non-impairment of the Guarantee. 

236.6 Transferability of Guarantee; Note 

Register. 

236.7 Fiscal Agent obligations. 

236.8 Event of Default; Application for 

Compensation; payment. 

236.9 No acceleration of Eligible Notes. 

236.10 Payment to USAID of excess 

amounts received by a Noteholder. 

236.11 Subrogation of USAID. 

236.12 Prosecution of claims. 

236.13 Change in agreements. 

236.14 Arbitration. 

236.15 Notice. 

236.16 Governing Law. 

Appendix A to Part 236—Application for 

Compensation 

Authority: Sec. 1706(j), Div. F, Public Law 

113–6. 

§ 236.1 Purpose. 

The purpose of the regulations in this 

part is to prescribe the procedures and 

standard terms and conditions 

applicable to loan guarantees issued for 

the benefit of the Borrower, pursuant to 

Title III of the Department of State, 

Foreign Operations, and Related 

Programs Appropriations Act, 2012 

(Div. I, Pub. L. 112–74), as applied to FY 

2013 funding by section 1706(j) of the 

Further Continuing Appropriations Act, 

2013 (Div. F, Pub. L. 113–6). The loan 

guarantees will be issued as provided 

herein pursuant to the Loan Guarantee 

Agreement, dated June 3, 2014, between 

the United States of America and the 

Republic of Tunisia (the ‘‘Loan 

Guarantee Agreement’’). The loan 

guarantee will apply to sums borrowed 

during a period beginning on the date 

that the Loan Guarantee Agreement 

enters into force and ending thirty days 

after such date, not exceeding an 

aggregate total of five hundred million 

United States Dollars ($500,000,000) in 

principal amount. The loan guarantees 

shall ensure the Borrower’s repayment 

of 100% of principal and interest due 

under such loans. The full faith and 

credit of the United States of America is 

pledged for the full payment and 

performance of such guarantee 

obligations. 

§ 236.2 Definitions. 

Wherever used in the standard terms 

and conditions set out in this part: 

Applicant means a Noteholder who 

files an Application for Compensation 

with USAID, either directly or through 

the Fiscal Agent acting on behalf of a 

Noteholder. 

Application for Compensation means 

an executed application in the form of 

Appendix A to this part which a 

Noteholder, or the Fiscal Agent on 

behalf of a Noteholder, files with USAID 

pursuant to § 236.8. 

Borrower means Banque Centrale de 

Tunisie, acting on behalf of Republic of 

Tunisia. 

Business Day means any day other 

than a day on which banks in New 

York, NY are closed or authorized to be 

closed or a day which is observed as a 

federal holiday in Washington, DC, by 

the United States Government. 

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41884 Federal Register / Vol. 79, No. 138 / Friday, July 18, 2014 / Rules and Regulations 

Date of Application means the date on 

which an Application for Compensation 

is actually received by USAID pursuant 

to § 236.15. 

Defaulted Payment means, as of any 

date and in respect of any Eligible Note, 

any Interest Amount and/or Principal 

Amount not paid when due. 

Eligible Note(s) means [a] Note[s] 

meeting the eligibility criteria set out in 

§ 236.4. 

Fiscal Agency Agreement means the 

agreement among USAID, the Borrower 

and the Fiscal Agent pursuant to which 

the Fiscal Agent agrees to provide fiscal 

agency services in respect of the Note[s], 

a copy of which Fiscal Agency 

Agreement shall be made available to 

Noteholders upon request to the Fiscal 

Agent. 

Fiscal Agent means the bank or trust 

company or its duly appointed 

successor under the Fiscal Agency 

Agreement which has been appointed 

by the Borrower with the consent of 

USAID to perform certain fiscal agency 

services for specified Eligible Note[s] 

pursuant to the terms of the Fiscal 

Agency Agreement. 

Further Guaranteed Payments means 

the amount of any loss suffered by a 

Noteholder by reason of the Borrower’s 

failure to comply on a timely basis with 

any obligation it may have under an 

Eligible Note to indemnify and hold 

harmless a Noteholder from taxes or 

governmental charges or any expense 

arising out of taxes or any other 

governmental charges relating to the 

Eligible Note in the country of the 

Borrower. 

Guarantee means the guarantee of 

USAID issued pursuant to this part and 

Section 7041(g)(1)(A) of the Department 

of State, Foreign Operations, and 

Related Programs Appropriations Act, 

2014 (Div. K, Pub. L. 113–76). 

Guarantee Payment Date means a 

Business Day not more than three (3) 

Business Days after the related Date of 

Application. 

Interest Amount means for any 

Eligible Note the amount of interest 

accrued on the Principal Amount of 

such Eligible Note at the applicable 

Interest Rate. 

Interest Rate means the interest rate 

borne by an Eligible Note. 

Loss of Investment means, in respect 

of any Eligible Note, an amount in 

Dollars equal to the total of the: 

(1) Defaulted Payment unpaid as of 

the Date of Application, 

(2) Further Guaranteed Payments 

unpaid as of the Date of Application, 

and 

(3) Interest accrued and unpaid at the 

Interest Rate(s) specified in the Eligible 

Note(s) on the Defaulted Payment and 

Further Guaranteed Payments, in each 

case from the date of default with 

respect to such payment to and 

including the date on which full 

payment thereof is made to the 

Noteholder. 

Note[s] means any debt securities 

issued by the Borrower. 

Noteholder means the owner of an 

Eligible Note who is registered as such 

on the Note Register. 

Note Register means the register of 

Eligible Notes required to be maintained 

by the Fiscal Agent. 

Person means any legal person, 

including any individual, corporation, 

partnership, joint venture, association, 

joint stock company, trust, 

unincorporated organization, or 

government or any agency or political 

subdivision thereof. 

Principal Amount means the 

principal amount of the Eligible Notes 

issued by the Borrower. For purposes of 

determining the principal amount of the 

Eligible Notes issued by the Borrower, 

the principal amount of each Eligible 

Note shall be the stated principal 

amount thereof. 

USAID means the United States 

Agency for International Development 

or its successor. 

§ 236.3 The Guarantee. 

Subject to the terms and conditions 

set out in this part, the United States of 

America, acting through USAID, 

guarantees to Noteholders the 

Borrower’s repayment of 100 percent of 

principal and interest due on Eligible 

Notes. Under the Guarantee, USAID 

agrees to pay to any Noteholder 

compensation in Dollars equal to such 

Noteholder’s Loss of Investment under 

its Eligible Note; provided, however, 

that no such payment shall be made to 

any Noteholder for any such loss arising 

out of fraud or misrepresentation for 

which such Noteholder is responsible or 

of which it had knowledge at the time 

it became such Noteholder. The 

Guarantee shall apply to each Eligible 

Note registered on the Note Register 

required to be maintained by the Fiscal 

Agent. 

§ 236.4 Guarantee eligibility. 

(a) Eligible Notes only are guaranteed 

hereunder. Notes in order to achieve 

Eligible Note status: 

(1) Must be signed on behalf of the 

Borrower, manually or in facsimile, by 

a duly authorized representative of the 

Borrower; 

(2) Must contain a certificate of 

authentication manually executed by a 

Fiscal Agent whose appointment by the 

Borrower is consented to by USAID in 

the Fiscal Agency Agreement; and 

(3) Shall be approved and 

authenticated by USAID by either: 

(i) The affixing by USAID on the 

Notes of a guarantee legend 

incorporating these Standard Terms and 

Conditions signed on behalf of USAID 

by either a manual signature or a 

facsimile signature of an authorized 

representative of USAID or 

(ii) The delivery by USAID to the 

Fiscal Agent of a guarantee certificate 

incorporating these Standard Terms and 

Conditions signed on behalf of USAID 

by either a manual signature or a 

facsimile signature of an authorized 

representative of USAID. 

(b) The authorized USAID 

representatives for purposes of the 

regulations in this part whose 

signature(s) shall be binding on USAID 

shall include the USAID Chief and 

Deputy Chief Financial Officer, 

Assistant Administrator and Deputy, 

Bureau for Economic Growth, 

Education, and Environment, Director 

and Deputy Director, Office of 

Development Credit, and such other 

individual(s) designated in a certificate 

executed by an authorized USAID 

Representative and delivered to the 

Fiscal Agent. The certificate of 

authentication of the Fiscal Agent 

issued pursuant to the Fiscal Agency 

Agreement shall, when manually 

executed by the Fiscal Agent, be 

conclusive evidence binding on USAID 

that an Eligible Note has been duly 

executed on behalf of the Borrower and 

delivered. 

§ 236.5 Non-impairment of the Guarantee. 

After issuance of the Guarantee, the 

Guarantee will be an unconditional, full 

faith and credit obligation of the United 

States of America and will not be 

affected or impaired by any subsequent 

condition or event. This nonimpairment of the guarantee provision 

shall not, however, be operative with 

respect to any loss arising out of fraud 

or misrepresentation for which the 

claiming Noteholder is responsible or of 

which it had knowledge at the time it 

became a Noteholder. In particular and 

without limitation, the Guarantee shall 

not be affected or impaired by: 

(a) Any defect in the authorization, 

execution, delivery or enforceability of 

any agreement or other document 

executed by a Noteholder, USAID, the 

Fiscal Agent or the Borrower in 

connection with the transactions 

contemplated by this Guarantee or 

(b) The suspension or termination of 

the program pursuant to which USAID 

is authorized to guarantee the Eligible 

Notes. 

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Federal Register / Vol. 79, No. 138 / Friday, July 18, 2014 / Rules and Regulations 41885 

1 In the event the Application for Compensation 

relates to Further Guaranteed Payments, such 

Application must also contain a statement of the 

nature and circumstances of the related loss. 

§ 236.6 Transferability of Guarantee; Note 

Register. 

A Noteholder may assign, transfer or 

pledge an Eligible Note to any Person. 

Any such assignment, transfer or pledge 

shall be effective on the date that the 

name of the new Noteholder is entered 

on the Note Register required to be 

maintained by the Fiscal Agent 

pursuant to the Fiscal Agency 

Agreement. USAID shall be entitled to 

treat the Persons in whose names the 

Eligible Notes are registered as the 

owners thereof for all purposes of the 

Guarantee and USAID shall not be 

affected by notice to the contrary. 

§ 236.7 Fiscal Agent obligations. 

Failure of the Fiscal Agent to perform 

any of its obligations pursuant to the 

Fiscal Agency Agreement shall not 

impair any Noteholder’s rights under 

the Guarantee, but may be the subject of 

action for damages against the Fiscal 

Agent by USAID as a result of such 

failure or neglect. A Noteholder may 

appoint the Fiscal Agent to make 

demand for payment on its behalf under 

the Guarantee. 

§ 236.8 Event of Default; Application for 

Compensation; payment. 

At any time after an Event of Default, 

as this term is defined in an Eligible 

Note, any Noteholder hereunder, or the 

Fiscal Agent on behalf of a Noteholder 

hereunder, may file with USAID an 

Application for Compensation in the 

form provided in Appendix A to this 

part. USAID shall pay or cause to be 

paid to any such Applicant any 

compensation specified in such 

Application for Compensation that is 

due to the Applicant pursuant to the 

Guarantee as a Loss of Investment not 

later than the Guarantee Payment Date. 

In the event that USAID receives any 

other notice of an Event of Default, 

USAID may pay any compensation that 

is due to any Noteholder pursuant to the 

Guarantee, whether or not such 

Noteholder has filed with USAID an 

Application for Compensation in 

respect of such amount. 

§ 236.9 No acceleration of Eligible Notes. 

Eligible Notes shall not be subject to 

acceleration, in whole or in part, by 

USAID, the Noteholder or any other 

party. USAID shall not have the right to 

pay any amounts in respect of the 

Eligible Notes other than in accordance 

with the original payment terms of such 

Eligible Notes. 

§ 236.10 Payment to USAID of excess 

amounts received by a Noteholder. 

If a Noteholder shall, as a result of 

USAID paying compensation under the 

Guarantee, receive an excess payment, it 

shall refund the excess to USAID. 

§ 236.11 Subrogation of USAID. 

In the event of payment by USAID to 

a Noteholder under the Guarantee, 

USAID shall be subrogated to the extent 

of such payment to all of the rights of 

such Noteholder against the Borrower 

under the related Note. 

§ 236.12 Prosecution of claims. 

After payment by USAID to an 

Applicant hereunder, USAID shall have 

exclusive power to prosecute all claims 

related to rights to receive payments 

under the Eligible Notes to which it is 

thereby subrogated. If a Noteholder 

continues to have an interest in the 

outstanding Eligible Notes, such a 

Noteholder and USAID shall consult 

with each other with respect to their 

respective interests in such Eligible 

Notes and the manner of and 

responsibility for prosecuting claims. 

§ 236.13 Change in agreements. 

No Noteholder will consent to any 

change or waiver of any provision of 

any document contemplated by the 

Guarantee without the prior written 

consent of USAID. 

§ 236.14 Arbitration. 

Any controversy or claim between 

USAID and any Noteholder arising out 

of the Guarantee shall be settled by 

arbitration to be held in Washington, DC 

in accordance with the then prevailing 

rules of the American Arbitration 

Association, and judgment on the award 

rendered by the arbitrators may be 

entered in any court of competent 

jurisdiction. 

§ 236.15 Notice. 

Any communication to USAID 

pursuant to the Guarantee shall be in 

writing in the English language, shall 

refer to the Republic of Tunisia Loan 

Guarantee Number inscribed on the 

Eligible Note and shall be complete on 

the day it shall be actually received by 

USAID at the Office of Development 

Credit, Bureau for Economic Growth, 

Education and Environment, United 

States Agency for International 

Development, Washington, DC 20523– 

0030. Other addresses may be 

substituted for the above upon the 

giving of notice of such substitution to 

each Noteholder by first class mail at 

the address set forth in the Note 

Register. 

§ 236.16 Governing Law. 

The Guarantee shall be governed by 

and construed in accordance with the 

laws of the United States of America 

governing contracts and commercial 

transactions of the United States 

Government. 

Appendix A to Part 236—Application 

for Compensation 

United States Agency for International 

Development 

Washington, DC 20523 

Ref: Guarantee dated as of ___, 20__: 

Gentlemen: You are hereby advised 

that payment of $____ (consisting of 

$____ of principal, $____ of interest and 

$____ in Further Guaranteed Payments, 

as defined in § 236.2 of the Standard 

Terms and Conditions of the abovementioned Guarantee) was due on 

__________, 20__, on $____ Principal 

Amount of Notes issued by Banque 

Centrale de Tunisie, acting on behalf of 

the Republic of Tunisia (the 

‘‘Borrower’’) held by the undersigned. 

Of such amount $____ was not received 

on such date and has not been received 

by the undersigned at the date hereof. In 

accordance with the terms and 

provisions of the above-mentioned 

Guarantee, the undersigned hereby 

applies, under § 236.8 of said Guarantee, 

for payment of $____, representing 

$____, the Principal Amount of the 

presently outstanding Note(s) of the 

Borrower held by the undersigned that 

was due and payable on _____ and that 

remains unpaid, and $____, the Interest 

Amount on such Note(s) that was due 

and payable by the Borrower on ____ 

and that remains unpaid, and $____ in 

Further Guaranteed Payments,1 plus 

accrued and unpaid interest thereon 

from the date of default with respect to 

such payments to and including the 

date payment in full is made by you 

pursuant to said Guarantee, at the rate 

of __ % per annum, being the rate for 

such interest accrual specified in such 

Note. Such payment is to be made at 

[state payment instructions of 

Noteholder]. 

All capitalized terms herein that are 

not otherwise defined shall have the 

meanings assigned to such terms in the 

Standard Terms and Conditions of the 

above-mentioned Guarantee. 

[Name of Applicant] 

By: lllllllllllllllllll

Name: 

Title: 

Dated: 

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41886 Federal Register / Vol. 79, No. 138 / Friday, July 18, 2014 / Rules and Regulations 

Dated: July 10, 2014. 

Maryam Khosharay, 

Attorney Advisor, Office of the General 

Counsel, U.S. Agency for International 

Development. 

[FR Doc. 2014–16631 Filed 7–17–14; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9674] 

RIN 1545–BM07 

Guidelines for the Streamlined Process 

of Applying for Recognition of Section 

501(c)(3) Status 

Correction 

In rule document 2014–15623 on 

pages 37630–37632 of the issue of 

Wednesday, July 2, 2014 make the 

following corrections: 

§ 1.501(a)-1T [Corrected] 

■ 1. On page 37631, in the third column, 

in § 1.501(a)–1T(f)(2), in the third line, 

‘‘July 1, 2017’’ should read ‘‘June 30, 

2017’’. 

§ 1.501(c)(3)–1T [Corrected] 

■ 2. On page 37632, in the first column, 

in § 1.501(c)(3)–1T(h)(2), in the third 

line, ‘‘July 1, 2017’’ should read ‘‘June 

30, 2017’’. 

§ 1.508–1T [Corrected] 

■ 3. On page 37632, in the third 

column, in § 1.508–1T(c)(2), in the third 

and fourth lines, ‘‘July 3, 2017’’ should 

read ‘‘June 30, 2017’’. 

[FR Doc. C2–2014–15623 Filed 7–17–14; 8:45 am] 

BILLING CODE 1505–01–D 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9678] 

RIN 1545–BK99 

Mixed Straddles; Straddle-by-Straddle 

Identification Under Section 1092 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Final regulations and removal of 

temporary regulations. 

SUMMARY: This document contains final 

regulations relating to section 1092 

identified mixed straddles established 

after August 18, 2014. The final 

regulations explain how to account for 

unrealized gain or loss on a position 

held by a taxpayer prior to the time the 

taxpayer establishes a mixed straddle 

using straddle-by-straddle 

identification. 

DATES: Effective Date: These regulations 

are effective on July 18, 2014. 

Applicability Date: For the date of 

applicability, see § 1.1092(b)–6(e). 

FOR FURTHER INFORMATION CONTACT: 

Pamela Lew of the Office of Associate 

Chief Counsel (Financial Institutions 

and Products) at (202) 317–6945 (not a 

toll-free number). 

SUPPLEMENTARY INFORMATION: 

Background 

The Deficit Reduction Act of 1984, 

Public Law 98–369, amended section 

1092 of the Internal Revenue Code 

(Code) relating to straddles. As 

amended, section 1092(b) instructed the 

Treasury Department and the IRS to 

write regulations governing mixed 

straddles. Regulations governing mixed 

straddles were issued in 1985, including 

§ 1.1092(b)–2T (relating to holding 

periods and losses with respect to 

straddle positions) and § 1.1092(b)–3T 

(relating to mixed straddles) 

(collectively, the 1985 temporary 

regulations). 

This document contains amendments 

to the Income Tax Regulations (26 CFR 

part 1) relating to mixed straddles 

subject to straddle-by-straddle 

identification under section 

1092(b)(2)(A)(i)(I) (identified mixed 

straddles). On August 2, 2013, the 

Treasury Department and the IRS 

published in the Federal Register 

temporary regulations relating to 

identified mixed straddles (TD 9627 at 

78 FR 46807) and a notice of proposed 

rulemaking cross-referencing the 

temporary regulations (REG–112815–12 

at 78 FR 46854). The temporary 

regulations added § 1.1092(b)–6T, 

which provides that unrealized gain or 

loss on a position held prior to the 

establishment of an identified mixed 

straddle is taken into account at the 

time and has the character provided by 

provisions of the Code that would apply 

if the identified mixed straddle had not 

been established. The temporary 

regulations changed the timing of the 

recognition of the unrealized gain or 

loss as compared to § 1.1092(b)–3T(b)(6) 

of the 1985 temporary regulations, 

which provides that unrealized gain or 

loss on a position that becomes a 

position in an identified mixed straddle 

is recognized on the day prior to 

establishing the identified mixed 

straddle. 

Section 1.1092(b)–6T applied to 

identified mixed straddles established 

after August 1, 2013, the date of filing 

of TD 9627 in the Federal Register. 

However, in response to comments 

raising concerns about the immediate 

applicability date of the temporary 

regulations, the regulations were 

corrected on October 29, 2013, to revise 

the applicability date (TD 9627 at 78 FR 

64396 and REG–112815–12 at 78 FR 

64430). As corrected, § 1.1092(b)–6T 

would apply to identified mixed 

straddles established after the date of 

publication of the final regulations in 

the Federal Register. 

Written comments were received on 

the notice of proposed rulemaking and 

a public hearing was held on December 

4, 2013. All comments were considered 

and the written comments are available 

for public inspection at http://

www.regulations.gov or upon request. 

After consideration of all comments, 

these final regulations adopt the 

provisions of the proposed regulations 

with certain clarifications, and the 

corresponding temporary regulations are 

removed. The comments and 

clarifications are discussed in this 

preamble. 

Summary of Comments and 

Explanation of Revisions 

In response to the request for 

comments in the notice of proposed 

rulemaking, several comments were 

received. The comments address three 

general categories of issues: (1) the 

immediate applicability date of 

§ 1.1092(b)–6T; (2) the character 

mismatch and timing of gain or loss 

recognition for assets held by insurance 

companies; and (3) certain technical 

rules in the 1985 temporary regulations 

and the temporary regulations relating 

to identified mixed straddles. 

1. Applicability Date 

As previously noted, in response to 

comments raising concerns about the 

immediate applicability date of the 

temporary regulations, the regulations 

were corrected on October 29, 2013, to 

revise the applicability date. As 

corrected, § 1.1092(b)–6T would apply 

to identified mixed straddles 

established after the date of publication 

of final regulations in the Federal 

Register. The correction notices 

informed taxpayers that the Treasury 

Department and the IRS anticipated 

finalizing the regulations no later than 

June 30, 2014. 

One commenter asked that the 

applicability date be delayed for at least 

six months after the publication date of 

the final regulations in the Federal 

Register. 

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