91750 Federal Register / Vol. 89, No. 224 / Wednesday, November 20, 2024 / Notices 

of service contracts are set forth at 46 

CFR part 530. 

Current Actions: There are no changes 

to this information collection, and it is 

being submitted for extension purposes 

only. 

Type of Review: Extension. 

Needs and Uses: The Commission 

monitors service contract filings to 

ensure compliance with 46 U.S.C. 

subtitle IV. 

Frequency: Frequency of filings is 

determined by the ocean common 

carrier and its customers. When parties 

enter into a service contract or amend 

the contract, the service contract or 

amendment must be filed with the 

Commission. 

Type of Respondents: Ocean common 

carriers or their duly appointed agents 

are required to file service contracts and 

amendments with the Commission. 

Number of Annual Respondents: The 

Commission estimates an annual 

respondent universe of 89 ocean 

common carriers. During 2023, carriers 

filed 361,971 original service contracts, 

and 851,191 service contract 

amendments. 

Estimated Time per Response: The 

Commission estimates that the time per 

response ranges from 0.0166 to 1 

person-hours for reporting and 

recordkeeping requirements contained 

in the regulations and is 0.1 personhours for completing Form FMC–83. 

Total Annual Burden: The 

Commission estimates the total annual 

person-hour burden at 45,171 personhours. 

III. Title: 46 CFR Part 531—NVOCC 

Service Arrangements 

OMB Approval Number: 3072–0070 

(Expires July 31, 2025). 

Abstract: 46 CFR part 531 allows 

NVOCCs and shippers’ associations 

with NVOCC members to act as shipper 

parties in NVOCC Service Arrangements 

(NSAs), and to be exempt from certain 

tariff publication requirements of 46 

U.S.C. subtitle IV provided the NVOCC 

posts a prominent notice in its rules 

tariff invoking the NSA exemption and 

provides electronic access to its rules 

tariff to the public free of charge. This 

information collection corresponds to 

the requirements to include the NSA 

exemption in the tariff, recordkeeping 

requirements, and the requirement to 

make the tariff publicly available free of 

charge. 

Current Actions: There are no changes 

to this information collection, and it is 

being submitted for extension purposes 

only. 

Type of Review: Extension. 

Needs and Uses: The Commission 

uses NSAs and associated data for 

monitoring and investigatory purposes 

and, in its proceedings, to adjudicate 

related issues raised by private parties. 

Frequency: NVOCCs that opt to enter 

into an NSA in lieu of publishing tariff 

rate(s) must post a notice in its rules 

tariff invoking the NSA exemption. 

Type of Respondents: Parties that 

enter into NSAs are NVOCCs and 

shippers’ associations with NVOCC 

members. 

Number of Annual Respondents: Of 

the total respondent universe of 

approximately 8,700 active NVOCCs, 

the Commission estimates that 325 

NVOCCs per year add a prominent 

notice to their electronically published 

rules tariff indicating the intention to 

invoke the NSA exemption. The 

Commission estimates that 

approximately 1,500 NVOCCs in total 

have invoked this exemption and would 

therefore be subject to the recordkeeping 

requirements. 

Estimated Time per Response: The 

time per response is estimated to be 15 

minutes to add a tariff rule invoking the 

NSA exemption, and one hour for 

recordkeeping requirements. 

Total Annual Burden: Total annual 

burden is estimated to be 1,581 hours. 

IV. Title: 46 CFR Part 532—NVOCC 

Negotiated Rate Arrangements 

OMB Approval Number: 3072–0071 

(Expires July 31, 2025). 

Abstract: Section 40103 of title 46 of 

the United States Code authorizes the 

Commission to exempt by order or 

regulation ‘‘any class of agreements 

between persons subject to [46 U.S.C. 

subtitle IV, Part A] or any specified 

activity of those persons from any 

requirement of [46 U.S.C. subtitle IV, 

Part A] if the Commission finds that the 

exemption will not result in substantial 

reduction in competition or be 

detrimental to commerce.’’ The 

Commission may attach conditions to 

any exemption and may, by order, 

revoke an exemption. In 46 CFR part 

532, the Commission exempted 

NVOCCs from the tariff rate publication 

requirements of Part 520 and allowed an 

NVOCC to enter into an NVOCC 

Negotiated Rate Arrangement (NRA) in 

lieu of publishing its tariff rate(s), 

provided the NVOCC posts a prominent 

notice in its rules tariff invoking the 

NRA exemption and provides electronic 

access to its rules tariff to the public free 

of charge. This information collection 

corresponds to the rules tariff prominent 

notice and the requirement to make its 

rules tariff publicly available free of 

charge. 

Current Actions: There are no changes 

to this information collection, and it is 

being submitted for extension purposes 

only. 

Type of Review: Extension. 

Needs and Uses: The Commission 

uses the information filed by an NVOCC 

in its rules tariff to determine whether 

the NVOCC has invoked the exemption 

for a particular shipment or shipments. 

The Commission has used and will 

continue to use the information required 

to be maintained by NVOCCs for 

monitoring and investigatory purposes, 

and, in its proceedings, to adjudicate 

related issues raised by private parties. 

Type of Respondents: Parties that 

enter into NRAs are NVOCCs and 

shippers’ associations with NVOCC 

members. 

Number of Annual Respondents: Of 

the total respondent universe of 

approximately 8,700 active NVOCCs, an 

average of 500 annually over the last 

three years have added a prominent 

notice to its electronically published 

rules tariff indicating the intention to 

invoke the NRA exemption. The 

Commission estimates that a total of 

3,800 NVOCCs now utilize the NRA 

exemption and would then need 

approximately one hour per year for 

recordkeeping requirements. 

Estimated Time per Response: The 

time per response is estimated to be 15 

minutes to add a tariff rule invoking the 

NRA exemption, and one hour for 

recordkeeping requirements. 

Total Annual Burden: Total annual 

burden is estimated to be 3,925 hours. 

David Eng, 

Secretary. 

[FR Doc. 2024–27129 Filed 11–19–24; 8:45 am] 

BILLING CODE 6730–02–P 

FEDERAL RESERVE SYSTEM 

[Docket No. OP–1845] 

DEPARTMENT OF THE TREASURY 

Study and Report to Congress on the 

Impact on Consumers and Markets in 

the United States of a Final 

International Insurance Capital 

Standard 

AGENCY: Board of Governors of the 

Federal Reserve System and Federal 

Insurance Office, Department of the 

Treasury. 

ACTION: Notice of completion of report 

drafting; request for comments. 

SUMMARY: The Board of Governors of the 

Federal Reserve System (Board) and the 

Federal Insurance Office (FIO) of the 

Department of the Treasury (together, 

the agencies) are providing notice that 

the agencies have completed drafting 


khammond on DSK9W7S144PROD with NOTICES
Federal Register / Vol. 89, No. 224 / Wednesday, November 20, 2024 / Notices 91751 

1 31 U.S.C. 313 note. 

2 Id. 

3 89 FR 57154 (July 12, 2024). 

4 International Association of Insurance 

Supervisors, https://www.iaisweb.org/activitiestopics/standard-setting/insurance-capitalstandard/. 

5 IAIS statement, ‘‘The IAIS begins the AM 

comparability assessment,’’ October 17, 2023, 

https://www.iaisweb.org/uploads/2023/10/IAISstatement-IAIS-begins-the-AM-comparabilityassessment.pdf. 

and submitted a report to Congress as 

contemplated by section 211(c)(3) of the 

Economic Growth, Regulatory Relief, 

and Consumer Protection Act 

(EGRRCPA), on the impact on 

consumers and markets in the United 

States before supporting or consenting 

to the adoption of a final international 

insurance capital standard. In 

accordance with section 211(c)(3)(B)(ii) 

of EGRRCPA, the agencies invite 

comment on the report. 

DATES: Comments must be received by 

January 12, 2025. 

ADDRESSES: Comments should be 

directed to: 

Board: You may submit comments, 

identified by Docket No. OP–1845 by 

any of the following methods: 

• Email: regs.comments@

federalreserve.gov. Include the docket 

number 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. 

In general, all public comments will 

be made available on the Board’s 

website at www.federalreserve.gov/ 

generalinfo/foia/ProposedRegs.cfm as 

submitted, and will not be modified to 

remove confidential, contact or any 

identifiable information. Public 

comments may also be viewed 

electronically or in paper in Room M– 

4365A, 2001 C St. NW, Washington, DC 

20551, between 9 a.m. and 5 p.m. 

during Federal business weekdays. 

Treasury: Submit comments 

electronically through the Federal 

eRulemaking Portal at http://

www.regulations.gov, in accordance 

with the instructions on that site, or by 

mail to the Federal Insurance Office, 

Attn: Krishna Kundu, Room 1410 MT, 

Department of the Treasury, 1500 

Pennsylvania Avenue NW, Washington, 

DC 20220. Because postal mail may be 

subject to processing delays, it is 

recommended that comments be 

submitted electronically. If submitting 

comments by mail, please submit an 

original version with two copies. 

Comments should be captioned ‘‘FED– 

FIO ICS Impact Study Report.’’ In 

general, Treasury will post all 

comments to www.regulations.gov 

without change, including any business 

or personal information provided such 

as names, addresses, email addresses, or 

telephone numbers. All comments, 

including attachments and other 

supporting materials, are part of the 

public record and subject to public 

disclosure. You should submit only 

information that you wish to make 

available publicly. 

FOR FURTHER INFORMATION CONTACT: 

Board: Lara Lylozian, Deputy 

Associate Director and Chief 

Accountant, (202) 475–6656; or Matt 

Walker, Manager, Insurance Supervision 

& Regulation, (202) 872–4971, Division 

of Supervision and Regulation; or 

Dafina Stewart, Deputy Associate 

General Counsel, (202) 452–2677; 

Andrew Hartlage, Special Counsel, (202) 

452–6483; Jonah Kind, Senior Counsel, 

(202) 452–2045; or Jasmin Keskinen, 

Senior Attorney, (202) 475–6650, Legal 

Division, Board of Governors of the 

Federal Reserve System, 20th Street and 

Constitution Avenue NW, Washington, 

DC 20551. For users of TTY–TRS, please 

call 711 from any telephone, anywhere 

in the United States. 

Treasury: Krishna Kundu, Senior 

Insurance Regulatory Policy Analyst, 

FIO, (202) 622–2753; or Mark Schlegel, 

Senior Counsel, Office of the General 

Counsel, Department of the Treasury, 

(202) 622–1027, Department of the 

Treasury, 1500 Pennsylvania Avenue 

NW, Washington, DC 20220. 

SUPPLEMENTARY INFORMATION: Under 

section 211(c)(3)(A) of EGRRCPA,1 the 

Secretary of the Treasury (the 

Secretary), the Chair of the Board (the 

Chair), and the Director of FIO must, in 

consultation with the National 

Association of Insurance 

Commissioners, complete a study on, 

and submit to Congress a report on the 

results of the study, the impact on 

consumers and markets in the United 

States before supporting or consenting 

to the adoption of any final 

international insurance capital standard. 

In addition, section 211(c)(3)(B)(ii) of 

EGRRCPA provides that there shall be 

an opportunity for public comment for 

a period of 60 days after the date on 

which the report is submitted to 

Congress.2 Previously, the Secretary, the 

Chair, and the Director of FIO provided 

public notice before commencing to 

draft the report, as required by section 

211(c)(3)(B)(i) of EGRRCPA.3 In 

connection with this request for 

comment, the Secretary, the Chair, and 

the Director of FIO are also providing 

public notice that the draft of the report 

is completed, as required by section 

211(c)(3)(B)(i) of EGRRCPA. 

As background, the International 

Association of Insurance Supervisors 

(IAIS) is developing the Insurance 

Capital Standard (ICS) as a consolidated 

group-wide capital standard for 

internationally active insurance groups, 

to create a common language for 

insurance supervisors and enhance 

global convergence on insurance capital 

regulation.4 The IAIS also is assessing 

whether the Aggregation Method 

developed by the United States provides 

comparable outcomes to the ICS. If so, 

it will be considered an outcomeequivalent approach for implementation 

of the ICS as a prescribed capital 

requirement.5

On November 13, 2024, the Secretary, 

the Chair, and the Director of FIO 

submitted to Congress the report 

contemplated in section 211(c)(3)(A) of 

EGRRCPA. Pursuant to section 

211(c)(3)(C) of EGRRCPA, the Secretary, 

the Chair, and the Director of FIO also 

submitted the report to the Comptroller 

General of the United States for review. 

A copy of the report is available at 

https://www.federalreserve.gov/ 

publications/the-impact-of-theinternational-insurance-capitalstandard-on-consumers-and-markets-inthe-united-states.htm. The agencies 

invite public comment on the report. 

Interested persons should direct their 

comments as provided above in this 

notice. Comments must be received by 

January 12, 2025. 

Kayla Arslanian, 

Executive Secretary, Department of the 

Treasury. 

Steven E. Seitz, 

Director, Federal Insurance Office, 

Department of the Treasury. 

By order of the Chair of the Board of 

Governors of the Federal Reserve System. 

Ann E. Misback, 

Secretary of the Board. 

[FR Doc. 2024–27005 Filed 11–19–24; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Change in Bank Control Notices; 

Acquisitions of Shares of a Savings 

and Loan Holding Company 

The notificants listed below have 

applied under the Change in Bank 

Control Act (‘‘Act’’) (12 U.S.C. 1817(j)) 

and of the Board’s Regulation LL (12 

CFR 238.31) to acquire shares of a 

savings and loan holding company. The 

factors that are considered in acting on 


khammond on DSK9W7S144PROD with NOTICES