20454 Federal Register / Vol. 80, No. 73 / Thursday, April 16, 2015 / Proposed Rules 

at a rate or rates not to exceed the 

general level of short-term interest rates. 

(2) For purposes of this section, the 

amount of a ‘‘balance’’ in an account 

maintained by or on behalf of an eligible 

institution at a Federal Reserve Bank is 

determined at the close of the Federal 

Reserve Bank’s business day. 

(3) For purposes of this section, 

‘‘short-term interest rates’’ are rates on 

obligations with maturities of no more 

than one year, such as the primary 

credit rate and rates on term federal 

funds, term repurchase agreements, 

commercial paper, term Eurodollar 

deposits, and other similar instruments. 

(4) The payment of interest on 

balances under this section shall be 

subject to such other terms and 

conditions as the Board may prescribe. 

(b) Payment of interest. Interest on 

balances maintained at Federal Reserve 

Banks by or on behalf of an eligible 

institution is established as set forth in 

paragraphs 

(b)(1) through (4) of this section. The 

rates for IORR and IOER are set forth in 

paragraph (b)(5) of this section. 

(1) For institutions that maintain 

balances that are, on average over the 

maintenance period, in excess of the top 

of the penalty-free band, interest is: 

(A) The amount equal to the average 

IORR rate over the maintenance period 

multiplied by the average balance up to 

the top of the penalty-free band 

maintained over the maintenance 

period; plus 

(B)(i) The amount equal to the IOER 

rate in effect each day multiplied by the 

total balances maintained on that day 

for each day of the maintenance period; 

minus 

(ii) The amount equal to the average 

IOER rate over the maintenance period 

multiplied by the average balance up to 

the top of the penalty-free band 

maintained over the maintenance 

period. 

(2) The interest amount under 

paragraph (b)(1) of this section shall not 

be less than an amount equal to the 

amount specified in paragraph (b)(1)(A) 

of this section. 

(3) For institutions that maintain 

balances that are, on average over the 

maintenance period, equal to or lower 

than the top of the penalty-free band, 

interest is the amount equal to the 

average IORR rate over the maintenance 

period multiplied by the average 

balance maintained over the 

maintenance period. 

(4) For term deposits, interest is: 

(A) The amount equal to the principal 

amount of the term deposit multiplied 

by a rate specified in advance by the 

Board, in light of existing short-term 

market rates, to maintain the federal 

funds rate at a level consistent with 

monetary policy objectives; or 

(B) The amount equal to the principal 

amount of the term deposit multiplied 

by a rate determined by the auction 

through which such term deposits are 

offered. 

(5) The rates for IORR and IOER are: 

Rate Effective 

IORR .................................................................. 1⁄4 percent.

IOER .................................................................. 1⁄4 percent.

(c) Pass-through balances. A passthrough correspondent that is an eligible 

institution may pass back to its 

respondent interest paid on balances 

maintained to satisfy a reserve balance 

requirement of that respondent. In the 

case of balances maintained by a passthrough correspondent that is not an 

eligible institution, a Reserve Bank may 

pay interest only on the balances 

maintained to satisfy a reserve balance 

requirement of one or more respondents 

up to the top of the penalty-free band, 

and the correspondent shall pass back to 

its respondents interest paid on 

balances in the correspondent’s account. 

(d) * * * 

* * * * * 

(5) Interest on balances of eligible 

institutions maintained in an excess 

balance account is the amount equal to 

the IOER rate in effect each day 

multiplied by the total balances 

maintained on that day for each day of 

the maintenance period. 

* * * * * 

(f) Procedure for determination of 

rates. The Board anticipates that notice 

and public participation with respect to 

changes in the rate or rates of interest to 

be paid under this section will generally 

be impracticable, unnecessary, contrary 

to the public interest, or otherwise not 

required in the public interest, and that 

there will generally be reason and good 

cause in the public interest why the 

effective date should not be deferred for 

30 days. The reason or reasons in such 

cases are generally expected to include 

that such notice, public participation, or 

deferment of effective date would 

prevent the action from becoming 

effective as promptly as necessary in the 

public interest, would permit 

speculators or others to reap unfair 

profits or to interfere with the Board’s 

actions taken with a view to 

accommodating commerce and business 

and with regard to their bearing upon 

the general credit situation of the 

country, would provoke other 

consequences contrary to the public 

interest, would not aid the persons 

affected, or would otherwise serve no 

useful purpose. 

By order of the Board of Governors of the 

Federal Reserve System, April 13, 2015. 

Michael Lewandowski, 

Associate Secretary of the Board. 

[FR Doc. 2015–08743 Filed 4–15–15; 8:45 am] 

BILLING CODE 6210–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[REG–143040–14] 

RIN 1545–BM59 

Reporting for Premium; Basis 

Reporting by Securities Brokers and 

Basis Determination for Debt 

Instruments and Options; Correction 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Correction to a notice of 

proposed rulemaking by cross-reference 

to temporary regulations. 

SUMMARY: This document contains 

corrections to a notice of proposed 

rulemaking by cross-reference to 

temporary regulations (REG–143040–14) 

that was published in the Federal 

Register on Friday, March 13, 2015 (80 

FR 13292). The IRS is issuing temporary 

regulations relating to information 

reporting by brokers for transactions 

involving debt instruments and options. 

DATES: Written or electronic comments 

and requests for a public hearing for the 

notice of proposed rulemaking by crossreference to temporary regulations 

published at 80 FR 13292, March 13, 


tkelley on DSK3SPTVN1PROD with PROPOSALS
Federal Register / Vol. 80, No. 73 / Thursday, April 16, 2015 / Proposed Rules 20455 

2015, are still being accepted and must 

be received by June 11, 2015. 

FOR FURTHER INFORMATION CONTACT: 

Pamela Lew at (202) 317–7053 (not a 

toll free number). 

SUPPLEMENTARY INFORMATION: 

Background 

The notice of proposed rulemaking by 

cross-reference to temporary regulations 

(REG–143040–14) that is the subject of 

these corrections is under section 6045 

of the Internal Revenue Code. 

Need for Correction 

As published, the notice of proposed 

rulemaking by cross-reference to 

temporary regulations (REG–143040–14) 

contains errors that may prove to be 

misleading and are in need of 

clarification. 

Correction of Publication 

Accordingly, the notice of proposed 

rulemaking by cross-reference to 

temporary regulations (REG–143040– 

14), that was the subject of FR Doc. 

2015–05654, is corrected as follows: 

1. On page 13293, in the preamble, 

first column, the second line of the third 

paragraph, the language ‘‘contained in 

section 1.6045A–1 relating ’’ is 

corrected to read ‘‘contained in 

§ 1.6045A–1 relating’’. 

2. On page 13293, in the preamble, 

third column, the tenth line from the 

top of the column, the language ‘‘not 

make the election. The temporary’’ is 

corrected to read ‘‘not made the 

election. The temporary’’. 

Martin V. Franks, 

Chief, Publications and Regulations Branch, 

Legal Processing Division, Associate Chief 

Counsel (Procedure and Administration). 

[FR Doc. 2015–08745 Filed 4–15–15; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF HEALTH AND 

HUMAN SERVICES 

45 CFR Part 95 

Centers for Medicare & Medicaid 

Services 

42 CFR Part 433 

[CMS–2392–P] 

RIN 0938–AS53 

Medicaid Program; Mechanized Claims 

Processing and Information Retrieval 

Systems (90/10) 

AGENCY: Centers for Medicare & 

Medicaid Services (CMS), HHS. 

ACTION: Proposed rule. 

SUMMARY: This proposed rule would 

extend enhanced funding for Medicaid 

eligibility systems as part of a state’s 

mechanized claims processing system, 

and would update conditions and 

standards for such systems, including 

adding to and updating current 

Medicaid Management Information 

Systems (MMIS) conditions and 

standards. These changes would allow 

states to improve customer service and 

support the dynamic nature of Medicaid 

eligibility, enrollment, and delivery 

systems. 

DATES: To be assured consideration, 

comments must be received at one of 

the addresses provided below, no later 

than 5 p.m. June 15, 2015. 

ADDRESSES: In commenting, please refer 

to file code CMS–2392–P. Because of 

staff and resource limitations, we cannot 

accept comments by facsimile (FAX) 

transmission. 

You may submit comments in one of 

four ways (please choose only one of the 

ways listed): 

1. Electronically. You may submit 

electronic comments on this regulation 

to http://www.regulations.gov. Follow 

the ‘‘Submit a comment’’ instructions. 

2. By regular mail. You may mail 

written comments to the following 

address ONLY: Centers for Medicare & 

Medicaid Services, Department of 

Health and Human Services, Attention: 

CMS–2392–P, P.O. Box 8016, Baltimore, 

MD 21244–8016. 

Please allow sufficient time for mailed 

comments to be received before the 

close of the comment period. 

3. By express or overnight mail. You 

may send written comments to the 

following address ONLY: Centers for 

Medicare & Medicaid Services, 

Department of Health and Human 

Services, Attention: CMS–2392–P, Mail 

Stop C4–26–05, 7500 Security 

Boulevard, Baltimore, MD 21244–1850. 

4. By hand or courier. Alternatively, 

you may deliver (by hand or courier) 

your written comments ONLY to the 

following addresses prior to the close of 

the comment period: 

a. For delivery in Washington, DC— 

Centers for Medicare & Medicaid 

Services, Department of Health and 

Human Services, Room 445–G, Hubert 

H. Humphrey Building, 200 

Independence Avenue SW., 

Washington, DC 20201. 

(Because access to the interior of the 

Hubert H. Humphrey Building is not 

readily available to persons without 

federal government identification, 

commenters are encouraged to leave 

their comments in the CMS drop slots 

located in the main lobby of the 

building. A stamp-in clock is available 

for persons wishing to retain a proof of 

filing by stamping in and retaining an 

extra copy of the comments being filed.) 

b. For delivery in Baltimore, MD— 

Centers for Medicare & Medicaid 

Services, Department of Health and 

Human Services, 7500 Security 

Boulevard, Baltimore, MD 21244–1850. 

If you intend to deliver your 

comments to the Baltimore address, call 

telephone number (410) 786–0265 in 

advance to schedule your arrival with 

one of our staff members. 

Comments erroneously mailed to the 

addresses indicated as appropriate for 

hand or courier delivery may be delayed 

and received after the comment period. 

For information on viewing public 

comments, see the beginning of the 

SUPPLEMENTARY INFORMATION section. 

FOR FURTHER INFORMATION CONTACT: 

Victoria Guarisco (410) 786–0265, for 

issues related to administrative 

questions. Carrie Feher (410) 786–8905, 

for issues related to regulatory impact 

questions. Denise G. Osborn-Harrison 

(410) 786–1661 or Martin Rice (410) 

786–2417, for general questions. 

SUPPLEMENTARY INFORMATION: 

Inspection of Public Comments: All 

comments received before the close of 

the comment period are available for 

viewing by the public, including any 

personally identifiable or confidential 

business information that is included in 

a comment. We post all comments 

received before the close of the 

comment period on the following Web 

site as soon as possible after they have 

been received: http://

www.regulations.gov. Follow the search 

instructions on that Web site to view 

public comments. 

Comments received timely will also 

be available for public inspection as 

they are received, generally beginning 

approximately 3 weeks after publication 

of a document, at the headquarters of 

the Centers for Medicare & Medicaid 

Services, 7500 Security Boulevard, 

Baltimore, Maryland 21244, Monday 

through Friday of each week from 8:30 

a.m. to 4 p.m. To schedule an 

appointment to view public comments, 

phone 1–800–743–3951. 

I. Executive Summary 

A. Purpose 

This proposed rule would revise the 

regulatory definition of Medicaid 

mechanized claims processing and 

information retrieval systems to include 

Medicaid eligibility and enrollment 

(E&E) systems, which would have the 

consequence of making available for 

E&E systems the enhanced federal 

financial participation (FFP) specified 

in section 1903(a)(3) of the Social 


tkelley on DSK3SPTVN1PROD with PROPOSALS