This section of the FEDERAL REGISTER

contains regulatory documents having general

applicability and legal effect, most of which

are keyed to and codified in the Code of

Federal Regulations, which is published under

50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by

the Superintendent of Documents.

Rules and Regulations Federal Register

8733 

Vol. 87, No. 32 

Wednesday, February 16, 2022 

1Facilitating the LIBOR Transition (Regulation 

Z), 86 FR 69716 (Dec. 8, 2021). 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

12 CFR Part 1003 

[Docket No. CFPB–2020–0014] 

RIN 3170–AB01 

Facilitating the LIBOR Transition 

(Regulation Z); Correction 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Final rule; correction. 

SUMMARY: On December 8, 2021, the 

Consumer Financial Protection Bureau 

(Bureau) published the ‘‘Facilitating the 

LIBOR Transition (Regulation Z)’’ final 

rule (LIBOR Transition Final Rule) in 

the Federal Register. The 

SUPPLEMENTARY INFORMATION in the 

LIBOR Transition Final Rule contained 

two clerical errors regarding a hyperlink 

to documents referenced in each 

footnote. This document corrects those 

errors. 

DATES: This correction is effective on 

February 16, 2022. 

FOR FURTHER INFORMATION CONTACT: 

Krista Ayoub, Kristen Phinnessee, or 

Lanique Eubanks, Senior Counsels, 

Office of Regulations, at 202–435–7700. 

If you require this document in an 

alternative electronic format, please 

contact CFPB_Accessibility@cfpb.gov. 

SUPPLEMENTARY INFORMATION: On 

December 8, 2021, the Bureau published 

in the Federal Register the ‘‘Facilitating 

the LIBOR Transition (Regulation Z)’’ 

final rule (LIBOR Transition Final Rule), 

which amends various provisions in 

Regulation Z in anticipation of the 

sunset of LIBOR.1 Two footnotes in the 

SUPPLEMENTARY INFORMATION contained 

clerical errors regarding a hyperlink to 

materials referenced in each footnote, 

one omitting the hyperlink and the 

other providing the incorrect hyperlink 

and omitting the document title. 

Specifically, in footnote 1 in the second 

column of page 69716 and in footnote 

10 in the third column of page 69718 of 

volume 86 of the Federal Register: 

• The bracketed word ‘‘at 

[placeholder]’’ should read ‘‘at https://

www.consumerfinance.gov/compliance/ 

compliance-resources/other-applicablerequirements/libor-index-transition/’’; 

• The phrase ‘‘Bureau of Consumer 

Fin. Prot., [Title] https://

www.consumerfinance.gov/policycompliance/guidance/other-applicablerequirements/libortransition/’’ should 

read ‘‘Bureau of Consumer Fin. Prot., 

LIBOR Index Transition Compliance 

Resources, https://

www.consumerfinance.gov/compliance/ 

compliance-resources/other-applicablerequirements/libor-index-transition/.’’ 

These changes make it so that the 

referenced hyperlink is now accessible 

in the Federal Register. 

Correction 

Accordingly, the Bureau makes the 

following corrections to FR Doc. 2021– 

25825 published on December 8, 2021 

(86 FR 69716): 

1. On page 69716, in the second 

column, revise footnote 1 to read ‘‘When 

amending commentary, the Office of the 

Federal Register requires reprinting of 

certain subsections being amended in 

their entirety rather than providing 

more targeted amendatory instructions. 

The sections of regulatory text and 

commentary included in this document 

show the language of those sections. In 

addition, the Bureau is releasing an 

unofficial, informal redline to assist 

industry and other stakeholders in 

reviewing the changes made in this final 

rule to the regulatory text and 

commentary of Regulation Z. This 

redline can be found on the Bureau’s 

website, at https://

www.consumerfinance.gov/compliance/ 

compliance-resources/other-applicablerequirements/libor-index-transition/. If 

any conflicts exist between the redline 

and the text of Regulation Z, its 

commentary, or this final rule, the 

documents published in the Federal 

Register are the controlling documents.’’ 

2. On page 69718, in the third 

column, revise footnote 10 to read ‘‘At 

the same time as issuing the proposal, 

the Bureau issued separate written 

guidance in the form of Frequently 

Asked Questions (FAQs) for creditors 

and card issuers to use as they transition 

away from using LIBOR indices. These 

FAQs addressed regulatory questions 

where the existing rule was clear on the 

requirements and already provides 

necessary alternatives for the LIBOR 

transition. The FAQs, as well as 

additional written guidance materials 

including an executive summary of this 

final rule, are available here: Bureau of 

Consumer Fin. Prot., LIBOR Index 

Transition Compliance Resources, 

https://www.consumerfinance.gov/ 

compliance/compliance-resources/ 

other-applicable-requirements/liborindex-transition/.’’ 

Rohit Chopra, 

Director, Bureau of Consumer Financial 

Protection. 

[FR Doc. 2022–03344 Filed 2–15–22; 8:45 am] 

BILLING CODE 4810–AM–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

31 CFR Part 544 

Weapons of Mass Destruction 

Proliferators Sanctions Regulations 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Final rule. 

SUMMARY: The Department of the 

Treasury’s Office of Foreign Assets 

Control (OFAC) is amending the 

Weapons of Mass Destruction 

Proliferators Sanctions Regulations to 

revise an existing general license 

authorizing the provision of certain 

legal services and add a general license 

authorizing payments for legal services 

from funds originating outside the 

United States. 

DATES: This rule is effective February 

16, 2022. 

FOR FURTHER INFORMATION CONTACT: 

OFAC: Assistant Director for Licensing, 

202–622–2480; Assistant Director for 

Regulatory Affairs, 202–622–4855; or 

Assistant Director for Sanctions 

Compliance & Evaluation, 202–622– 

2490. 

SUPPLEMENTARY INFORMATION: 

Electronic Availability 

This document and additional 

information concerning OFAC are 

available on OFAC’s website: 

www.treasury.gov/ofac. 


jspears on DSK121TN23PROD with RULES1