Federal Register / Vol. 82, No. 191 / Wednesday, October 4, 2017 / Notices 46309 

36The agency is under no legal obligation to 

distribute any funds to insured credit unions other 

than amounts above where the NCUA Board sets 

the normal operating level. In accordance with the 

Act, the Board can only set the normal operating 

level as high as 1.50 percent. 12 U.S.C. 1782(h)(4). 37Credit unions must be able to operate under a 

business model that provides for positive earnings 

and the accumulation of net worth irrespective of 

potential one-time increases in income. By their 

nature, one-time payouts such as a distribution 

from the Insurance Fund, are unpredictable and 

non-recurring. Therefore, credit unions must be 

able to operate in a safe and sound manner through 

normal, routine operations. 

38NCUA has provided details of the liquidation 

expenses and costs associated with each asset 

management estate on its Web site. See NCUA’s Q4 

2016 Costs and Assessments Q&A (response to 

question 15) and the Stabilization Fund’s financial 

statements for additional information. 

39As noted in the July 2017 Notice, the 

Stabilization Fund will be audited as of September 

30, 2017. The financial statements of the Insurance 

Fund will continue to be presented under standards 

promulgated by the Federal Accounting Standards 

Advisory Board and audited each calendar year. 

The post-closure financial statements and note 

disclosures for the Insurance Fund will continue to 

provide the same level of detail about the 

receivables from the corporate asset management 

estates and related fiduciary activities. 

40As explained in the July 2017 Notice, an equity 

ratio of 1.39 percent will allow the Insurance Fund 

to withstand a moderate recession without the 

equity ratio falling below 1.20 percent over a fiveyear period. 

When Stabilization Fund assessments 

were collected, they were accounted for 

as expenses to credit unions and income 

to the Stabilization Fund. As the 

performance of the Legacy Assets 

improved and the NCUA collected legal 

recoveries, the projected assessment 

range became negative for the first time 

in 2013, indicating projected assessment 

rebates and recoveries of depleted 

corporate capital. At no time did the 

NCUA guarantee that assessment rebates 

would be made.36

Rather, the Board noted that the 

assessment rebates were projections and 

subject to change. Therefore, credit 

unions should not have been relying on 

a possible refund for managing their 

financial condition.37

A few commenters stated the 

‘‘proposed method for closing the 

[Stabilization Fund] does nothing to 

address the excessive $1B charged since 

its creation to the [Asset Management 

Estates] by the NCUA.’’ It is unclear 

what expenses these commenters are 

referring to. The losses related to the 

corporate credit unions are described on 

the NCUA’s Web site. They include, 

among others, losses on investment 

securities (Legacy Assets), as well as 

costs of funding other pre-liquidation 

obligations the corporate credit unions 

had incurred. Every effort was made to 

keep the costs of resolving the failed 

corporate credit unions as low as 

possible.38 However, the resolution of 

the corporate credit unions was 

necessary and allowed the NCUA and 

credit union community to contain the 

financial and operational impact of the 

crisis. In addition, without being 

conserved and liquidated, the corporate 

credit unions (1) would have been 

unable to extend operations for the time 

required to realize uncertain legal 

recoveries; and (2) would have been 

unable to recover the material amounts 

the Board was able to recover without 

the benefit of the Act’s extender statute. 

Funds now available for distribution to 

credit unions are due principally to 

legal recoveries that enabled the asset 

management estates to repay some of 

the losses the Stabilization Fund 

incurred. 

The Board appreciates commenters 

that considered how closing the 

Stabilization Fund might affect the 

NCUA’s contingency funding. The 

Board reminds stakeholders that Public 

Law 111–22, Helping Families Save 

Their Homes Act of 2009, increased the 

NCUA’s borrowing authority with the 

U.S. Treasury to $6 billion. This 

borrowing authority is shared by both 

the Stabilization Fund and the 

Insurance Fund. With closure of the 

Stabilization Fund, the Insurance Fund 

will retain the $6 billion borrowing 

authority. The Central Liquidity 

Facility’s contingency funding ability is 

not altered by closure of the 

Stabilization Fund. 

The Board will address comments on 

its separate proposal to amend the 

Insurance Fund distribution method in 

12 CFR 741.4 in a separate action. 

IV. Final Action 

After considering the comments 

received, the Board approves the 

following: 

1. Closing the Stabilization Fund in 

2017 and distributing its funds, 

property, and other assets and liabilities 

to the Insurance Fund on October 1, 

2017.39

2. Setting the normal operating level 

of the Insurance Fund to 1.39 percent, 

effective September 28, 2017.40

3. Adopting the policy for setting the 

normal operating level, as outlined 

below. 

Policy for Setting the Normal Operating 

Level 

Periodically, the NCUA will review 

the equity needs of the Insurance Fund 

and provide this analysis to 

stakeholders. Board action is only 

necessary when this review suggests 

that a change in the normal operating 

level is warranted. Any change to the 

normal operating level of more than 1 

basis point shall be made only after a 

public announcement of the proposed 

adjustment and opportunity for 

comment. In soliciting comment, the 

NCUA will issue a public report, 

including data supporting the proposal. 

When setting the normal operating 

level, the Board will seek to satisfy the 

following objectives: 

• Retain public confidence in federal 

share insurance; 

• Prevent impairment of the one 

percent contributed capital deposit; and 

• Ensure the Insurance Fund can 

withstand a moderate recession without 

the equity ratio declining below 1.20 

percent over a five-year period. 

By the National Credit Union 

Administration Board on September 28, 

2017. 

Gerard S. Poliquin, 

Secretary of the Board. 

[FR Doc. 2017–21305 Filed 10–3–17; 8:45 am] 

BILLING CODE 7535–01–P 

EXECUTIVE OFFICE OF THE 

PRESIDENT 

Office of National Drug Control Policy 

Notification of a Public Meeting of the 

President’s Commission on Combating 

Drug Addiction and the Opioid Crisis 

(Commission) 

AGENCY: Office of National Drug Control 

Policy (ONDCP). 

ACTION: Notice of meeting. 

SUMMARY: ONDCP announces the fourth 

meeting of the President’s Commission 

on Combating Drug Addiction and the 

Opioid Crisis to advance the 

Commission’s work on drug issues and 

the opioid crisis per Executive Order 

13784. The meeting will consist of 

discussion regarding insurance issues 

related to the opioid epidemic. 

DATES: The Commission meeting will be 

held on Friday October 20, 2017 from 

11:00 a.m. until approximately 1:00 

p.m. (Eastern time). 

ADDRESSES: The meeting will be held at 

the Eisenhower Executive Office 

Building, Room 350, in the Executive 

Office of the President in Washington, 

DC. It will be open to the public through 

livestreaming on https://

www.whitehouse.gov/live. 

FOR FURTHER INFORMATION CONTACT: 

General information concerning the 

Commission and its meetings can be 

found on ONDCP’s Web site at https:// 

www.whitehouse.gov/ondcp/presidentscommission. Any member of the public 

who wishes to obtain information about 

the Commission or its meetings that is 

not already on ONDCP’s Web site or 


sradovich on DSK3GMQ082PROD with NOTICES
46310 Federal Register / Vol. 82, No. 191 / Wednesday, October 4, 2017 / Notices 

who wishes to submit written comments 

for the Commission’s consideration may 

contact Michael Passante, Designated 

Federal Officer (DFO) via email at 

commission@ondcp.eop.gov or 

telephone at (202) 395–6709. Please 

note that ONDCP may post such written 

comments publicly on our Web site, 

including names and contact 

information that are submitted. There 

will not be oral comments from the 

public at the meeting. Requests to 

accommodate disabilities with respect 

to livestreaming or otherwise should 

also be sent to that email address, 

preferably at least 10 days prior to the 

meeting to allow time for processing. 

SUPPLEMENTARY INFORMATION: The 

Commission was established in 

accordance with E.O. 13784 of March 

29, 2017, the Commission’s charter, and 

the provisions of the Federal Advisory 

Committee Act (FACA), as amended, 5 

U.S.C. App. 2, to obtain advice and 

recommendations for the President 

regarding drug issues. The Executive 

Order, charter, and information on the 

Members of the Commission are 

available on ONDCP’s Web site. The 

Commission will function solely as an 

advisory body and will make 

recommendations regarding policies 

and practices for combating drug 

addiction with particular focus on the 

current opioid crisis in the United 

States. The date of the Commission’s 

final report has been extended until 

November 1, 2017. Per E.O. 13784, the 

Commission shall: 

a. Identify and describe the existing 

Federal funding used to combat drug 

addiction and the opioid crisis; 

b. assess the availability and 

accessibility of drug addiction treatment 

services and overdose reversal 

throughout the country and identify 

areas that are underserved; 

c. identify and report on best practices 

for addiction prevention, including 

healthcare provider education and 

evaluation of prescription practices, 

collaboration between State and Federal 

officials, and the use and effectiveness 

of State prescription drug monitoring 

programs; 

d. review the literature evaluating the 

effectiveness of educational messages 

for youth and adults with respect to 

prescription and illicit opioids; 

e. identify and evaluate existing 

Federal programs to prevent and treat 

drug addiction for their scope and 

effectiveness, and make 

recommendations for improving these 

programs; and; 

f. make recommendations to the 

President for improving the Federal 

response to drug addiction and the 

opioid crisis. 

Dated: September 29, 2017. 

Michael Passante, 

Deputy General Counsel, Designated Federal 

Officer. 

[FR Doc. 2017–21360 Filed 10–3–17; 8:45 am] 

BILLING CODE 3280–F5–P 

NUCLEAR REGULATORY 

COMMISSION 

[NRC–2017–0199] 

Availability of Revised NRC Form 3, 

‘‘Notice to Employees’’ 

AGENCY: Nuclear Regulatory 

Commission. 

ACTION: Generic communications; 

issuance. 

SUMMARY: The U.S. Nuclear Regulatory 

Commission (NRC) is announcing the 

availability of the latest version of NRC 

Form 3, ‘‘Notice to Employees.’’ The 

NRC Form 3 describes certain 

responsibilities and rights of employers 

and employees who engage in NRCregulated activities. Licensees are 

required by law to post the form at 

prominent locations at the workplace to 

permit workers to view it easily. 

Additionally, the NRC is announcing 

that future revisions of Form 3 will be 

publicized through an alternative 

electronic means in addition to the 

Federal Register. 

DATES: The revised form is available as 

of October 4, 2017. 

ADDRESSES: Please refer to Docket ID 

NRC–2017–0199 when contacting the 

NRC about the availability of 

information regarding this document. 

You may obtain publicly-available 

information related to this document 

using any of the following methods: 

• Federal Rulemaking Web site: Go to 

http://www.regulations.gov and search 

for Docket ID NRC–2017–0199. Address 

questions about NRC dockets to Carol 

Gallagher; telephone: 301–415–3463; 

email: Carol.Gallagher@nrc.gov. For 

technical questions, contact the 

individual listed in the FOR FURTHER

INFORMATION CONTACT section of this 

document. 

• NRC’s Agencywide Documents 

Access and Management System 

(ADAMS): You may obtain publiclyavailable documents online in the 

ADAMS Public Documents collection at 

http://www.nrc.gov/reading-rm/ 

adams.html. To begin the search, select 

‘‘ADAMS Public Documents’’ and then 

select ‘‘Begin Web-based ADAMS 

Search.’’ For problems with ADAMS, 

please contact the NRC’s Public 

Document Room (PDR) reference staff at 

1–800–397–4209, 301–415–4737, or by 

email to pdr.resource@nrc.gov. The 

ADAMS accession number for each 

document referenced (if it is available in 

ADAMS) is provided the first time that 

it is mentioned in this document. 

• NRC’s PDR: You may examine and 

purchase copies of public documents at 

the NRC’s PDR, Room O1–F21, One 

White Flint North, 11555 Rockville 

Pike, Rockville, Maryland 20852. 

FOR FURTHER INFORMATION CONTACT: 

Lisamarie L. Jarriel, Office of 

Enforcement, U.S. Nuclear Regulatory 

Commission, Washington, DC 20555– 

0001; telephone: 301–287–9006, email: 

Lisamarie.Jarriel@nrc.gov. 

SUPPLEMENTARY INFORMATION: 

Background 

The purpose of this notice is to inform 

all licensees that NRC Form 3, ‘‘Notice 

to Employees,’’ has been revised. The 

NRC Form 3 describes certain 

responsibilities and rights of employers 

and employees who engage in NRCregulated activities, including how 

employees can report violations or other 

safety concerns directly to the NRC. 

Section 19.11(e)(1) of title 10 of the 

Code of Federal Regulations (10 CFR), 

states that licensees shall prominently 

post the most recent version of NRC 

Form 3, ‘‘Notice to Employees’’ within 

30 days of receiving the revised NRC 

Form 3 from the Commission. 

In a 1997 rulemaking, 10 CFR 19.11 

was amended to incorporate a reference 

to the latest version of NRC Form 3. 

This eliminated the need to revise the 

CFR whenever NRC Form 3 is changed, 

which had been the previous practice. 

The final rule published on September 

15, 1997 (62 FR 48165) indicated that 

the NRC would inform licensee of future 

changes to NRC Form 3 by an 

administrative letter and, in addition, 

the availability of any new versions 

would be noticed in the Federal 

Register. Administrative letters were a 

type of generic communication issued to 

inform addressees of specific regulatory 

or administrative information but were 

discontinued in September 1999. As 

such, in lieu of an administrative letter, 

this revision and future revisions will be 

publicized through an alternative 

electronic means (i.e. Web site notice, 

social networking service, etc.) to alert 

all licensees of the new revisions, as 

well as in the Federal Register. 

A new version of NRC Form 3 was 

issued in August 2017, to make a 

correction to the map of the NRC 

Regions and clarify operation of the 

Headquarters Operations Center. To 

view the current version of NRC Form 

3 (8/2017), please go to https://

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